![]() Don’t worry about what others think or whether they will approve of such actions. Act rich and spend far more than usual in these areas alone. So, pick one or two areas that give you maximum joy and satisfaction and take the ‘MORE’ approach. ![]() The more we spend on the areas that really matter to us, our life becomes richer, meaningful and joyful. ![]() If you enjoy music, spending more on music-related experiences and items will bring you more joy. So, the key here is to stop judging and instead understand our priorities versus what is being thrust upon us by friends, family and the society. I love spending on fitness and don’t get excited about travel. You may love to spend on travel and think that spending on fitness is a waste of money. Each of us are unique and have a few different areas that matter more to us. When it comes to maximizing your joy and fulfilment, not all areas where you spend are created equal. This is where you need to embrace the idea of ‘prioritization’ and the ‘more and less’ approach. We spend like crazy across all these areas, leaving us with a huge credit card bill and no savings or we try to save up on everything and end up not spending on anything we love.Both of these are extremes, and the trick is to find the right balance. Leaving aside your fixed monthly expenses (read as house rent, utilities, grocery, petrol, etc) over which you don’t have much control, identify the key areas that roughly account for 80% of your remaining discretionary spends, such as eating out, movies, clothes, grooming, fitness, self improvement, travel, charity, gadgets, etc. Instead of taking a simplistic ‘don’t spend money on expensive things’ view, he advocates a nuanced approach to spending. Finally, I had my epiphany after listening to US personal finance blogger Ramit Sethi.
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