If I Really, Really, Really Want Something, Can I Buy It?

We’ve all wanted something expensive at some point in time. Whether it’s a new pair of Black Crow skis or Louboutin’s, something inevitably catches our eye and we have to have it.

Today I’d like to introduce two things: a saying and a rule.

I have a saying that “you can have anything, as long as it’s in the budget.” This saying is aimed to keep us tethered in reality. Theoretically, it prevents us from spending excessive amounts of money on one or a few items when we’re working towards our financial goals. It’s not foolproof, but that’s where the rule comes into play.

My older brother has a rule: if he wants something for six months, he buys it. This delaying of gratification not only makes the purchase that much sweeter, but it also prevents you from impulsively filling your closet, home or digital spaces with too much stuff.

These two things play well together. In waiting six months (or longer!), you can save up for your desired item, creating room in your budget. Looking for $500 to get the latest LEGO Star Wars kit? Save $83 a month by trimming various discretionary expenses like shopping, personal care, eating out and entertainment- a much more manageable number than finding the full amount in one month.

It’s important here at Prosperity that we look at your financial picture holistically and realistically. While we think it is important to feel connected with every financial transaction you make, we don’t support living a life of depravity in pursuit of financial goals. We definitely think a little short term pain, long term gain can be advantageous for certain goals but only if you want them for yourself. We’re happy to help you look at your budget and see if together we can find ways where you can have your cake and eat it too.