Guilt-free spending

Spending money on yourself isn't sinful. So why do we fall into the guilt trap, and can we avoid it?

I’ve recently been immersed in planning a dream holiday. Among all the excitement, there’ve been occasional pangs of guilt as a little inner voice kept telling me that this money could be spent better elsewhere. I wondered where on earth this came from – I had been saving for this holiday for three years, so it definitely wasn’t a reckless decision. Then the penny dropped – it’s part of the guilt we sometimes feel when we spend money on ourselves. It doesn’t matter how big or small the indulgence, there always seems to be a better way to use our money, so placing ourselves first can feel wrong.

PENNY-PINCHING

One of these popular beliefs is that money is scarce so we mustn’t waste it. This can be a hangover from our childhood, but can also be the result of a real-life situation such as having a mountain of debt to pay off, or losing one’s job. You probably have a scarcity mentality if…
✣ You’re scared of running out of money so you hold on to every cent
✣ You’re living from payday to payday so if there’s any spare cash you want to save it instead of spend it on yourself
✣ You grew up in a frugal or poor home where spending money was frowned upon, so spending money on yourself seems plain wrong
✣ You see your friends doing things you can’t afford to, so you feel guilty about your income or level of savings
✣ You have shared expenses with your partner so you feel guilty for spending money on something that only benefits you