Can There Really be JOY in My Financial Journey?

If you’ve ever asked this question, the answer is a resounding “YES”!  Often we think that when we start on the road of being diligent to manage our money well, then we’re NEVER GONNA HAVE FUN AGAIN!

We resign ourselves to the fact that life will now be terrible and full of constant restriction.  (Sigh)

Well, I want to challenge that thought today, because the opposite is actually true.

Think about those times when you’ve been out and about - spending money without giving it much thought. Now REALLY be honest with yourself - was that actually true bliss?  Ever experienced that sinking feeling when you get home and realize that all those purchases will now have to be paid back?  Um, buyer’s remorse, anyone?  How does that feel?  Does it actually bring you true joy?

Now take that same scenario and envision that you had thought through the current and future things that are truly valuable to you.  You have honed in on what truly brings (or will bring) you joy and you have your eyes set on that goal.  Now, you’ve reached the point where you’re able to make that purchase, so you give yourself permission to spend.  Afterwards, you feel true satisfaction that you set your eyes on what you wanted, you prepared the money for it, and then you made that purchase without any guilt - and no lingering payments afterwards.

Which scenario really brings joy and peace?

Incorporating Joy into Your Financial Plan

In her book, It’s Not About the Money, Scarlett Cochran highlights the importance of spending on what brings you joy. It’s not just about cutting back on expenses or saving every penny; it’s also about ensuring that your financial plan includes room for activities and experiences that make life enjoyable.  And let’s be honest, if your life is still enjoyable, you’ll stick to the plan!

When a client recently shared how deciding on their goals made her feel more comfortable spending money on a significant life event, it was a perfect example of this principle in action. She said, “Articulating these goals has been so helpful because making (this life event) the #1 goal gave me permission to allocate money to that which I was struggling with, thinking 'Is this too much?' and 'Should I really spend money on this?'. But putting it as a goal confirmed it was important to us and made our lives easier. I’m thankful because everything was prepared for (that life event).”

This feedback underscores the importance of integrating joy into your financial planning, as you balance that with the needs that you have.  When you make some room in your spending plan for what brings you happiness, it not only makes your financial journey more fulfilling but also reinforces your commitment to achieving your goals.

Steps to Find Balance and Joy

1. Define Your Goals: Take some time to articulate your short-term and long-term goals. What do you want to achieve in the next year? In the next five years?

2. Create a Balanced Budget: Allocate funds for your current needs, long-term goals, and joy. Ensure your budget reflects your values and priorities. 

3. Track Your Progress: Regularly review your budget and financial goals. Make adjustments as needed to stay on track and accommodate any changes in your priorities.

4. Celebrate Achievements: As you reach your financial milestones, take time to celebrate. Whether it’s a small reward or a special outing, acknowledging your achievements keeps you motivated.

5. Seek Professional Guidance: If you’re unsure how to balance these elements or just plain need some good ol’ accountability, I can help you create a plan tailored to your needs and goals.

Balancing your immediate needs with long-term goals and incorporating joy into your financial plan can lead to a more satisfying and stress-free financial life. Remember, it’s not just about managing money; it’s about creating a life that reflects your values and brings you true happiness.