In order to keep a good balance with anything, it is important to not over-think and overspend. Most people are probably aware, that over-consuming is generally a harmful behavior, especially if you don’t truly need something.
By using something too much, or by consuming things endlessly without providing, or putting out any value into the world, this usually results in wounding the outer world.
In order to establish a sense of harmony with your environment and the world as a whole, I think that it’s important that people know what they are consuming and investing their money into. I was once told, “You vote by the way you spend your dollar”. As this quote states, people show what they care about and support, through the way people spend their money.
Although consumption and investments are generally ruled through the course of one’s cash flow, they can also be factors through time and the way someone’s time is spent. Wise investments of time and money can often lead to great businesses, inventions, and creations for the world to utilize.
By using your time, or collected wealth in a way that is wasteful, it often leads to less positive output for society.
If you are purchasing things just to show off, or “look the part”, this will not lead to long term wealth. Keeping up with the Jones’ is rather an expensive habit of over-consumption.
Here are some things to consider…
- By cutting consumption, you save more money. This can be done through the act of differentiating buying things you need, versus buying things that appear appealing, but are not necessities.
- By cutting consumption you may negate the guilt of indulging in something too much or too often. For example: this can be such activities as weekly clothing shopping spree’s at your local mall, or Saturday night gambling extravaganzas.
- If you can control consumption, you learn to contain yourself and with-hold from consuming. This leads to the development of discipline. By developing discipline this can lead to greater output and action in other parts of your life that need more attention, focus, or repair.
- If you can control consumption, you are developing a mindset that focuses on healthier financial standing. If your cash flow remains local it supports local economies and as a result this will positively effect your friends and neighbors providing them with work and support. By over indulging on material goods from countries with poor labor rules you may be fulfilling your own self-gratification and your own personal desires. However, this indulgence may possibly be contributing to harmful effects on the job sector of your local economy and your own finances.
I understand that it is easy to get carried away by strategic marketing and “good deals”, but it is important to learn certain lessons such as when to spend, invest, and consume versus holding firm. To put it simply, if you can’t afford it, or you don’t need it, then don’t purchase it.
You can always go back to something and receive it when you’re ready, but if you always give into something right away, this is a poor display of self-discipline. Aim for the things that are possible, and try your best to remain realistic. If you want something that is out of your range, then build the steps and write out the goals that it will take, in order for you to reach the destination. If you really want the consumption, service, or investment badly enough, you will rectify the steps in a necessary manner and you will succeed by getting what you want.
Prioritize and pay attention to the things that you consume. You may be pleasantly surprised by how much you can save and build if you control your personal consumption habits.