We all know that one person, the bargain finder, cheapskate, penny pincher, tightwad, scrooge… OK that’s enough. In my case THAT person is often me!
One of the more selfish reasons I love working with clients is that I often see something in them that I see in myself. It was recently brought to my attention (again) that if you have the money; you CAN and SHOULD enjoy it! That got me to thinking about how many other self-declared “thrifty” folks out there may think they are fantastic with scrimping and saving but they don’t ever do anything with the cash they save! Here are 3 ways to stop being such a cheap ass!
3 ways to stop being a cheap ass and loosen those purse strings!
- Look at the value not the cost!
This is by far the most important thing to a tightwad. They don’t want to pay more than absolutely necessary for the item they are after. I recently ran into a woman who couldn’t bring herself to spend the money on a vacuum cleaner, despite the fact she has been using only a broom for the last 6 months.For me this is the perfect example as the vacuum she was looking at buying happens to be a Dyson cordless for $499 and she just couldn’t bring herself to spend $500 on a vacuum.First off I have a Dyson, the first Dyson…I have had this vacuum cleaner for 15 years! Yikes that makes me feel old… so for this blog I did some research. I purchased my Dyson in 2001 for $499(appx I don’t actually have the receipt) I have used the same vacuum almost daily for 15 years and I had 4 very hairy animals. Let’s break that down…15 years x 365 days in a year = 5475 days which means my vacuum cost me:
Per Day Per Week Per Month Per Year $0.09 $0.64 $2.77 $33.26
How much have you spent at Starbucks or Tim Hortons this year???
I can make the same case when it comes down to my favorite yoga pants or other items around my house that I use ALL THE TIME!The initial investment may sound like a lot of money but in the long run it is way cheaper than buying the cheap crap.
- WAKE UP and realize money is not limited.
Oh ya I said it. MONEY IS NOT LIMITED. Somewhere someone is just sitting at a machine printing more money off. We humans MADE IT UP! Reality is just as easy as you can spend the money, you can also create and manifest more of it.
- FOCUS on what you have.
The most common characteristic of the type of person that doesn’t want to spend is that they are fearful or believe in lack. Lack is only created by something that is missing in your life. Take a look around you right now. What are you thankful for? Do you have a roof over your head? Did you eat today? Do you have clothing without holes? If you answer yes to those 3 questions you are already ahead of a huge population of the world. STOP LOOKING AT WHAT YOU DON’T HAVE and look at WHAT YOU DO HAVE. That statement can change your financial world.
Now these are just 3 steps that can help, but you may have more emotional issues that are actually driving the behaviors in the first place. I can help you to uncover the patterns and behaviors in your subconscious that bring the negative money thoughts into your head. Together we can create a plan and develop systems that can help replace old and unwanted money behaviors.