In today’s economy, it is more socially acceptable than ever before to spend money on things you don’t actually need. You might be inclined to make an impulse purchase only because someone suggests a good idea mid-paragraph. For example, when you read “you should go buy the first Things I Fear book which is available here” you are inclined to do it since it supports something you like and costs less than a cup of coffee. On the flip side, we also live in a world where penny-pinching and being aggressively frugal is embraced and encouraged. As a similar example to the first, you might look at the idea of buying the book and think “but if I buy that I can’t afford a cup of coffee. And I don’t even drink coffee” which becomes a predicament for my mortgage payments and also demonstrates a Fear of Spending Money.
Cashing in on Your Fear of Spending Money
Being ‘frugal’ doesn’t mean being ‘cheap’. In fact, it’s closer to meaning being ‘savvy’ or ‘not an idiot’. If buying something doesn’t immediately benefit you, there’s no reason to buy it because the last thing you want is to buy something and wonder what you were thinking the minute it shows up at your door in an uncomfortably large box. At the same time, you can’t live your life without ever spending any money because many life-sustaining things have a cost associated to them. Things like food, water, your collection of antique globes, and a house are necessary to survive.
Many multi-billion dollar companies encourage consumers to spend more money by offering reward points for unnecessary purchases. Spend $50 and you get 1 point. Accumulate 10,000 points and you can earn a toaster! On paper, that might seem like a great deal until you crunch those numbers and realize you are basically buying 1000 toasters to get a free one. Despite the fact toasters make great gifts or Halloween hand-outs in lieu of chocolate, it might not be the most practical thing to own. Reward points are also a great way to lure you into a false sense of accomplishment by acknowledging how many points you have hoarded with Fear of ever cashing them in. That’s a lot like having a Fear of Spending Money but it’s just fake-internet dollars instead of tangible bills or coins. Sidenote: do people still pay for things with bills or coins?
Going for Broke With a Fear of Spending Money
So what prevents us from spending money to treat ourselves now and then? Everyone deserves a little somethin’ somethin’ whether it’s in the form of a nice dinner out or another pair of shoes to gather dust in the closet. Live life to the fullest and start spending your money every chance you get. What’s the worst thing that could happen? They shut-off your electricity or evict you from your house since you can’t afford to pay rent? That’s no reason to have a Fear of Spending Money.
With that being said, there is definitely a fine line between having enough money to purchase nice things on a whim and being completely bankrupt. Though that line can be easy to cross, it’s different for everyone so don’t try to compare yourself to anyone else. You are your own person and you need to make life choices based on your own personality, beliefs and interests. So go buy that Things I Fear book and don’t let anyone stop you.