Money is only good for three things.  If I were to ask you what three things money was good for what would you say?

When I am teaching how to create a winning spending plan, I always ask this question and get a lot of different answers.  Let me ask it in another way. 

The things you do with money can be put into three categories, what are they?

When I ask this question, I always get similar answers.  Answers like It’s good for paying bills, buying stuff, saving, investing, and going shopping. 

And then I would say something to the effect of okay, we got spending and saving.  I put investing into the saving category.  It’s interesting because at this point most of my students go blank.  Then I say something like ok money is good for three things, spending, saving, and…?  What are the three things we all do with money?

Most of the time I get no response and ask the class to think about and move forward with the class.

My point in all of that is it’s okay to spend your money.  It’s yours, you earned it, and you should spend it but, you should also spend it with a plan.  Create a spending plan to help you spend your money within some parameters. 

Simply, money is good for three things: spending, saving, and giving.  It’s interesting that in my workshops often we forget about the giving part.  That is a discussion for another day. 

Again, it’s okay to spend your money, however, my goal is to provoke you to create a spending plan for you and your family.