What do you spend the majority of your disposable income on? Maybe eating out, or shopping, or my own guilty pleasure… shoes? Research has shown that the thrill of a new purchase is relatively short-lived, but the payoff that comes with experiences is ultimately significantly more satisfying and impactful. Clearly spending on experiences offers the best return on investment, but I know from experience that it’s far too easy to get off track (shoes). So I spent some time reflecting on how I currently spend my money and how I would prefer to invest it.
Here are the winners in no particular order:
Self Improvement + Mental Health
I spent a bucket of money last year on a 6-month coaching program and certification that changed my life. When my father died unexpectedly five years ago, I invested in multiple support groups, therapy, and coaching. Next year, I will be participating in a mastermind group with my business mentor and studying with an incredible group of entrepreneurs. I can’t think of a better investment than spending on personal growth and mental health.
Raise your hand if you feel better after a good workout. Me too. So why not invest in your physical health and fitness? I love spending money on group workout classes like yoga and spin classes and always feel like I got my money’s worth and then some. Since my philosophy is always to buy fewer, better things, I am also a fan of splurging on stylish workout attire which helps me get motivated to get moving.
There is an old saying that travel is the only thing you can buy that makes you richer and I couldn’t agree more. This year I made it a goal to travel more and went to London, Paris, and Tokyo. These trips added so much value to my life and travel always shifts my values and perspective. Priceless.
The concept of self-care means different things to different people. The $20 eyebrow sculpt I get once a month makes me very happy. I have friends who prefer a good massage, a pedicure, or a reboot with an acupuncturist. Invest in whatever floats your boat and treat yourself as often as possible.
Random Acts of Kindness
My Dad used to pay bridge toll for the person behind him because we would get such a thrill from turning and seeing their elated face when the toll-taker waved them ahead. The best! Equally delightful activities include buying coffee or cocktails for a stranger, supporting a cause you believe in, leaving a massive tip, or treating an under-appreciated staff member to lunch.
So, what will you be investing in this year? Think about what will bring you the most lasting impact and feel free to share in the comments below!