Is it possible to spend money and become rich?
Yes, if you’re willing to recognize “richness” beyond the dollars in your pocket.
Most of the time, I try not to spend money unless I absolutely have to. Last week, I wrote a post about how Minimalism helps me save, and I heard a resounding “yes” from the blog community.
However, as I noted in that post, I’ll note here again: money and wealth are not the same thing. In fact, there are several things I’m happy to spend money on, because they make me richer.
How exactly do I spend money and grow in wealth? First, I redefine wealth. Wealth is an inventory of all the resources we have: time, energy, generosity of spirit, skills and abilities, and finally, money. Money is only a part of our wealth– in some cases, a small part.
I should note, also, that spending money on clutter and excess doesn’t count. Furthermore, the possibility of growing richer with certain purchases is certainly not an excuse for debt. No amount of irresponsible spending can maintain financial peace, much less build wealth.
But if we’re willing to spend thoughtfully, there are things you can buy that can make you richer. Here are 8 of them.
1) Travel and experiences.
It’s no secret that I love to travel. But there are many experiences that are worth paying for, and they can be so fun to give and receive. Experiences that force us to open our minds, that teach us about our world, or that challenge our complacency are excellent purchases. Consider this to be an investment in your life inventory: you’ll walk away a more well-rounded person, and hopefully lead a more inspired life.
2) A useful education.
Whether it’s enrolling in college, graduate school, an online course or even a learning software, education is another investment in your inventory. Intentionally learning a new skill with practical applications will never go to waste. Expanding your ability to write clearly and think critically are skills required for the information age we live in. The world needs more people who are constantly learning and growing; a useful education will no doubt make you, and your community, richer.
3) Services for what you can’t do yourself.
Any successful business owner will tell you that eventually it became more efficient for them to hire help than to try to do it all themselves. There’s a point at which this is true for us, too, whether we own businesses or not. The greatest and most obvious advantage to paying for help is that it will likely save time and heartache.
Now, I’m a big proponent of cleaning one’s own home and cooking for oneself, but I also think that hiring professionals for certain jobs can be a good idea. If you can afford it, consider hiring someone for a task that could take you hours, or days, to figure out.
4) Gadgets and products that actually save time.
Isn’t this what everything is advertised to do? Unfortunately, most of them don’t save us time. Instead, they collect dust, take up space, fall apart, and demand to be replaced.
There are a few “gems”, though, that really do work. We are grateful for our slow cooker, for example. It has saved us countless hours and time standing in front of the hot stove. A good dishwasher can be another excellent purchase. Discern what kind of product will help YOU in the same way, and don’t be afraid to invest in it.
5) Books and inspiration.
There is media that simply gets in the way and makes us envious, discontent, or discouraged. It can also make us both monetarily and intellectually poor. Let’s avoid those.
Good literature and art, on the other hand, can lift us up and bring about the kind of creativity we crave in this day and age. The kind of media that truly enriches your life– by challenging you to pursue what matters– can be worth its weight in gold.
6) Maintenance.
It’s easy to hate the idea of paying for maintenance. But theoretically, if you only own the items you really need, then it’s probably a good idea to maintain them well.
Maintenance can prolong the life of the few things you depend on daily– whether it’s a car, a suit, a heater, or the roof over your head– and in the end it will help keep replacement at bay.
7) Healthy food and exercise incentives.
My mother always said that she would rather spend money on high-quality food than on medical bills. I think I agree.
While there is little we can do about whatever debilitating disease will get us in the end, it’s true that our food and lifestyle choices influence our quality of living– in the present and future. Invest in your body and prolong the years during which you can thrive, be of service to others, and achieve your goals.
8) Gifts for loved ones and donations for what you believe in.
I saved the best for last. The best ways I’ve spent money have often been on other people: in sharing with friends or donating to a cause that matters to me.
You see, when I give money, I extend my resources beyond the boundaries of my own life. It increases my influence as well as my awareness. I can celebrate victories that are not my own. I can meet needs that are not my own. Is there any better way to be rich?
[Tweet “8 purchases that actually make you richer. #money #wealth “]
To conclude, I’d like to note that not all wealth is money, and I still believe that money cannot ultimately buy happiness.
However, there are real ways to invest the money you have into your life inventory— so that, despite losing dollars, you gain richness in other more important areas of your life.
Woman, you never fail to amaze me. This is such a smart topic and you have covered it so gracefully and with so much wisdom (a *wealth* of wisdom perhaps 😉 learning that it’s actually ok to spend money on things that save you much needed time, broaden your horizons, improve your health and wellbeing, and produce happiness for you and your loved ones was a difficult lesson for me, and I feel is not something touched on very often. While I definitely love hearing about free and cheap things to do/ways to do things, it’s equally important to value the quality of your life and recognize when something is worth investing in. Good job as always!!
http://www.threadandbones.com
Yes to all of these!!!!
love love love this post! such a great reminder. my high school math teacher always told us that the best type of debt to go into is debt for education and debt for a house, and that phrase has always stuck with me (especially when i’m in standing in awe of how much i owe in student loans… haha)
Yes!! Good food is so important to us. As is travel, of course! 🙂
Thanks Andrea!!
Thanks Cynthia!! And I agree- for those of us who don’t have tons of disposable income, travel is expensive, but I think it’s worthwhile!
Thank you so much Jeannie!! That means so much to me– thanks for sharing it! You’re the best!
Thanks Jo-Anne!!
Exactly! Thanks for reading, friend!
Thanks Alyssa!
Thank Christine! 🙂 And yes… there are so many things I thought were nonsense in college and am now realizing are total sense. haha
Thank you Ashley! Yes, getting help is important, and the amount of time and stress it saves can be more than worthwhile!
Ahhh thanks friend! I appreciate that 🙂 And yes– hiring help can be so easy to look down upon, but I think it’s a viable expenditure decision. My husband and I spent a whole day replacing 2 toilets ourselves– and while that was a good experience I’m proud of, our Saturday completely disappeared. And I’m so glad the other points resonated with you too!
Thanks Kimberly!
Thanks girl!! And exactly– momentary “happiness” leaves us feeling poor later, or simply wanting more!
Do you have a blog, by the way? 🙂
Thanks Chelsea! Glad to hear it 🙂
Absolutely!! And I may or may not own thousands of books too… 😉
Thanks friend! And absolutely– making our home life easier is really valuable too!
Thanks Kiki! Exactly. We are kindred spirits, my dear friend!
Thanks Chrissy!! And you’re absolutely right about the gym AND the notebook. I’m in complete agreement!
Healthy food and travel/experiences are my favorite things to spend my money on, and are things that I truly do feel enrich our lives from purchasing. I have no problem spending extra money for organic produce, etc.
What a great read! Especially #5.
Great post– I completely agree, especially with the first two! Sometimes I wonder about the fact that most (if not all) of my extra cash goes to travel, but I know these are the experiences that life is worth living for! 😀
What a beautiful and meaningful post you wrote Daisy. Very eye opening and insightful. Being wealthy encompasses all the aspects in our lives that makes us truly happy and fulfilled. I had to share this post because it is just awesome. I think you covered everything. You are so beautiful and talented Daisy! May continue blessing you every day of your life. XOXO, Jeannette
Yes yes yes I liked this post
I completely agree! It’s important to figure out what is important to you and your family and to make sure your money is actually going towards those things.
Love this– so true! Especially the travel one 🙂
This is dead on! Slow cookers are amazing! I actually need to use mine more! And maintenance is key. I remember being a college kid and being like eh oil change… and now I’m all over everything! lol
Love these points! We recently purchased a larger home, with a larger yard, and with 4 littles we are beginning to embrace hiring out for some jobs. As a small business owner myself, I love that we can support other small businesses while also relieving some stress and redeeming some of our time for family life. Great post!
You knocked it out of this park with this post, Daisy!! I couldn’t agree more with everything you’ve written. As Dan and I are getting ready to own a home and need to do way more indoor and outdoor housework than ever before, we’re really considering what #3 will mean for us. We’ve both always been of the mentality that if we can do it ourselves and save money, that’s the best way. But lately, we’ve been questioning the cost in other areas: What would this time expenditure cost us in terms of time together, with our families, in our stress levels, etc.? Some things are definitely worth the cost to outsource, if you can. And gosh, #5, #7, and #8? I just want to hug you for capturing these points so perfectly!
LOVE THIS! Totally agree! Great adivce
Mmm, loved this post, my friend! You have a gift for spreading messages the world needs to hear! I think investing in traveling, healthy food and healthy living, books and education, and in the people around us is so, so important! It’s time we start thinking about the things we treasure, not the things that make us happy for a couple moments, but never beyond. Thanks so much for sharing this today! 🙂
Super greatttttt. Yes, yes, yes. Some of these I definitely would’ve said, others were new to think about. Thanks, lady!
I have ALWAYS said travel is the only thing you can buy that makes you richer. The experience and insight you gain are far more worthy than any trinket that you can buy. I would also have to agree with your book theory. We own close to 2000 in this household, we are binge readers!
This is such a good list! 🙂 I’m a homebody so I prefer spending on the things that make my life at home easier than travel, btu I think everyone has those different htings they prioritise. As fun as shopping is, if it’s not shopping for a set purpose it isn’t going to be good in the long run!
Away From The Blue
Your tips are extremely insightful. Nothing can beat a wandering soul with a brilliant education under their belt. Being humble and giving to others who are in need are such important parts of life most people are too selfish to recognize.
http://www.accordingtokiki.net
This is so true! I absolutely never hesitate before spending money on travelling – I love having the memories and experiences of each trip! I used to hesitate before spending money on a gym membership, but then I realised that buying the membership was investing in my health – what’s a better investment??? I’ve also started investing in personal training as I know it keeps me motivated to stick with my workout regime. I think making investments that will impact us on a deeper level than “I’ll look really pretty in this dress” are worthwhile! e.g. spending money on a notebook because you can express your creativity and thoughts you wouldn’t share elsewhere.
Chrissy x
http://www.chrissylilly.com