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Got money guilt!? Here’s how to stop feeling guilty about spending money…

Spending money is a natural part of our daily lives. Whether it’s paying bills, buying groceries, or treating ourselves to something nice, we all spend money regularly. However, for some people, spending can trigger feelings of guilt and anxiety, which can lead to financial stress and even affect their mental health.

If this sounds like you, know that you’re “not” alone. Many people experience this same issue, and there are ways to address it. Let’s explore how to stop feeling guilty about spending money.

1. Set a budget

One of the biggest reasons why people feel guilty about spending money is because they don’t have a clear understanding of their financial situation. This means not having a comprehensive knowledge and awareness of one’s income, expenses, debts, and assets.

Creating a budget, on the other hand, is one of the first steps to getting a handle on your finances, which can give you the confidence to spend money without feeling guilty.

Start by tracking your income and expenses. Once you know where your money goes, create a budget that aligns with your financial goals. The bottom line is that a budget prioritizes spending and ensure you’re not overspending in areas that aren’t important to you.

2. Practice mindful spending

Mindful spending is all about being intentional with your money. Before making a purchase, consider whether an item aligns with your values and goals. If it doesn’t, is it worth spending your hard-earned money?

To determine what’s important to you, reflect on what brings you joy, fulfillment, and meaning in life. This can help you feel more confident about your buying decisions, and you’ll also save money since you’ll make fewer impulse buys.

3. Give yourself permission to spend

Many of us have internalized beliefs about money that lead to feelings of guilt when we spend it. We may feel like we don’t deserve nice things or that we should always be saving for a rainy day.

To overcome these beliefs, give yourself permission to spend. You work hard for your money, so it’s okay to treat yourself from time to time.

This doesn’t mean you should go crazy and buy things that you can’t afford. At the same time, you don’t have to deprive yourself of every enjoyment (even those that cost money) to be financially responsible. Learn how to find the sweet spot between saving and spending. 

4. Celebrate your wins

It’s easy to get caught up in the negative emotions that come with spending money. Instead, try focusing on the positives. Celebrate when you make a wise financial decision. This might include making an extra credit card payment, negotiating your interest rates or bills, saying “no” to financial peer pressure, etc.

This trains your brain to associate positive emotions with spending money. This can reduce feelings of guilt and make you feel more confident about financial decisions.

5. Practice gratitude

Gratitude is a powerful tool for improving mental health and reducing stress. When it comes to spending money, practicing gratitude can shift your focus from what you don’t have to what you do have.

Before making a purchase, take a moment to reflect on all the things in your life that you’re grateful for. This can put your spending into perspective and reduce feelings of guilt.

6. Create a separate account for fun spending

If you’re someone who feels guilty about spending money, it might be helpful to create a separate account specifically for fun spending. Use this account for things like eating out, going to the movies, or buying new clothes.

This approach keeps your “fun money” separate from money needed for other expenses, which can make it easier to track and manage your finances.

7. Remember that money is a tool

Finally, it’s important to remember that money is a tool. It’s not good or bad in and of itself – it’s how we use it that matters. If you’re responsible with your cash and create a solid plan for managing your expenses, debts, and savings – you’ll gradually feel more comfortable about spending. 

What type of purchases trigger your spending guilt?!