Before we get started on this, just have to say I really enjoyed all your feedback the other day on our Fortnite post. And many of you brought up an excellent point on it that I completely missed:
Gaming is a great way to spend *time* with friends and others!
And it’s not unlike other ways we spend money to hang out with each other either, such as meeting over lunch or coffees or spa days, vacations, etc, etc.
So I take back all my snarkiness on those V bucks, and I say if it gets you to stay connected with all your loved ones, great :) Though I still might poke fun at you for buying all those dance moves and digital clothes, lol…
Back to today’s thoughts though, been marinating on something a reader sent over at the end of last year that’s really got me thinking on how I prioritize my spending…
And more specifically, how I’d love to prioritize it in THIS way presented if at all possible!
Here’s the full note from Moneybee below in response to our New Years Resolutions post in December (how are those going, btw???? ;)) and while the entire passage is chock full of ideas, it’s the line that’s italicized that really got my wheels turning:
My goals for FY 2019 are to have a positive net worth (on track), have my total spending on gifts and donations be more than my total spending on myself (on track), spend the same or lower percentage of my income on myself as I did last year (not on track), and keep my total number of transactions below a certain number (same idea as no spend days, but you can’t game the system by doing lots of spending on the same day)(not on track). – Moneybee
“Have my total spending on gifts and donations be more than my total spending on myself”
Mannnnn… What a challenge! Can you imagine spending more on OTHERS than you do on yourself throughout the year? What a goal to strive for!!
And while it might sound unrealistic at first, what she’s actually alluding to I believe is “spending more money on gifts and donations than your ‘wants’” – which is a lot more achievable vs your entire BUDGET, haha… At least that’s my interpretation of it. You’d really have to up your game to give over half of EVERYTHING you spend on unless you don’t have a house/car/stomach/kids!
But if you just strip away your “wants” here and compare that to your monthly giving/gifting, it’s a much more achievable challenge to take on. And perhaps you’re already closer to it than you might think?
I have yet to go through my records and track it all down to the penny, but I DO know I’m currently donating to 11 places right now that are near and dear to my heart at $20/mo each (with an ultimate mission to get to 100 one day!!), which means we’re already at a solid $220 on that front and doesn’t include any other random $$$ or gifts I give away as part of my “have to say YES” strategy.
As far as the “wants” side – if we’re strictly speaking of stuff I buy for ME and no one else in our household like our million kids – there’s actually not that many things that siphon my money as they once did. I basically only spend in 4-5 categories every month, neither of which would break the bank:
- Coffee (4x a week while blogging)
- Books (1 every two-three weeks?)
- Local events (festivals, art shows, get togethers, etc)
- Clothes (only a recent thing as I stumbled across the BEST thrift store in my town and severely need to upgrade my holey attire! Minimalism has done a number on it!)
- Eating out for dinner (2x/mo)
(Notice you don’t see old coins or currency there?? That’s because I only use money from my own collection I sell off or when I get a commission for helping others liquidate theirs. If I don’t keep it self-contained like that I’d get in major trouble! ;))
So we’re probably looking at $50 + $20 + $30 + $20 + $40 = $160, and then let’s say we’re missing another $30 or so since I’m too lazy to double check everything right now, lol, and that puts us right around the $190 mark.
Which is just under the $220 of donations! Didn’t even realize that until now – wow!! I might actually already be pulling this off!
I’ll have to sit down now and really track the numbers, but in either case it’s a helluva mission to take on and had to share it with you in case you get inspired by such things too :)
And maybe you’re doing this without even realizing as well?! I bet it would make you feel super proud of yourself if you are! And possibly less GUILTY about spending on *yourself * too as I am now feeling, lol.
In any event, major props to you Moneybee for even THINKING about this and then implementing it (you guys are so good about putting others first!! I always have to remind myself!), and I thank you massively for planting this seed inside me as well :) It may look like I’m doing well *financially* in this, but I still have a ways to go *mentally* and all this helps me get there that much closer.
Now who wants to join us in this?! Maybe try it out for the rest of March and see how you do! Or hell – try to accomplish it just over the weekend! :)
You make just one extra gesture and you really can’t go wrong… But if all goes well, who knows – you might just enact some positive change! And our world needs as much of that as we can get right now.
A very blessed weekend to y’all! Thanks for always reading and encouraging! 🙏🙏
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!