Roses are red, violets are blue, I love budgeting, how about you??

Feb 9

Holidays don’t require you to spend money.

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baking for valentine's day — *Photo credit:* *Autumn Martin* *on Unsplash*

Valentine’s Day is next week.

Can we just take a minute to talk about all the advertising around a holiday like this? (Or any holiday really.)

Obviously, these companies want you to spend money on their products. That’s why they spend so much of their money on advertising.

And these people writing commercials are pros. They know how to hit a nerve and make you feel like you need to spend money to show your love.

I’m here to call BS.

I tell my clients all the time, these are your hard earned dollars. Make someone earn your dollars. You get to decide what to spend them on and no one else.

Unfortunately, sometimes that takes more willpower and gut checks than other times.

This is also why you’ve got to get clear on your priorities and what is most important to you when it comes to your budget.

Is it more important for you and your partner to spend money on gifts this year or would you rather make an extra debt payment?

Or maybe you decide that you’d like to give your kids a Valentine’s Day treat but only spend $10 on each child this year.

There is no right and wrong when it comes to your budget. It’s more about did you make the conscious decision to spend your dollars in these categories. Because when you decide to spend dollars in this category, something else may not get funded this week. And that’s ok. Again, as long as it is a conscious choice. Too many people are spending money every day without even thinking about it and then they are wondering why they have a mountain of credit card debt.

There’s a book called The Millionaire Next Door . The idea is that you may have a neighbor who is a millionaire, but you have no idea because they don’t drive flashy cars or own a giant house. That’s because they are making conscious choices about where to spend their dollars.

More often than not, in my financial planning world, our clients who have the most money are the frugal ones who don’t spend much. And it shows in their net worth!

My point is, it’s ok to not keep up with the Joneses (they are probably broke anyway!) and to be choosy about who is lucky enough to earn your dollars. Once you start tracking your dollars, you might be surprised at all of the places that your money goes that aren't at the top of your priority list today.

And remember, a budget is a flexible tool. Nothing is carved in stone, nor do choices you make today have to be the be all, end all for the next 40 years. Make choices based on where you are today, what’s most important to you today and what sacrifices you are willing to make in the short term in order to get to your long term goal of financial freedom.