I’m a financial planner—I don’t care if you spend a fortune on lattes – Business Insider

Derek Hagen, Investopedia

Is it okay to spend your money?

We’ve all read articles about the best way to take control of our budget is to simply quit spending money. Stop buying that latte every morning. Stop eating out at restaurants. Stop taking those expensive vacations.

This is normal and I think there is some truth in those messages. We are bombarded every single day with advertising messages that try to make us think we need something new, or that what we already have is not good enough, or that we need to keep up with the proverbial Joneses. (For more, see: The Beauty of Budgeting.)

Spending is okay
This may be the first time you’ve heard this, but spending money is okay. Our goal should be to try to be aware of our spending. We should make sure we are spending for the right reasons and recognize that spending for the sake of spending and accumulating things won’t make us any happier. Consumption is fine. Compulsive consumption and consumption to find happiness is not.

via I’m a financial planner—I don’t care if you spend a fortune on lattes – Business Insider