Investing in Assets

I tend to not mind spending money on things that I know will help me be better or help my family be better. For example, I convinced everybody that we needed an expensive Vitamix blender, a fancy instant-pot and a new workout bench. All of these things have improved our lives and I would replace them all if they ever broke.

I hate wasting money, like most people. I try to reframe spending money on assets like I described above or education as investing. Another example is Audible. I use Audible everyday to read books I would never get to if they were on a Kindle or paperback. 

I do not like spending money on clothing or shoes. I like having nice clothing and shoes, but I view them as things that will wear out and break eventually. I know I could invest in clothes and shoes that last longer, but I still view them as something that will just wear out after so many uses.

We even bought a silicone popcorn bowl that lets you pop popcorn in the microwave instead of using the paper bags. This saves you money because you can buy popcorn in bulk which is much cheaper. The silicone bowl should last for a long, long time.

Reframing something by thinking about how much enjoyment or utility you’ll get for how long can be a helpful tool when considering a purchase.

 

Be the first to leave a comment. Don’t be shy.

Join the Discussion

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>