Imagine you receive a bonus. What’s the first thought that comes to mind? Perhaps to start a new mutual fund, put it in a fixed deposit, or repay an old home loan. But did it ever occur to you to use that money for the solo trip you have been planning for months? Or to buy that guitar you have always wanted to learn?
For most of us Indians, the moment the second thought arises, an unusual sense of guilt follows. We feel it is wasteful spending. We work hard to earn money, yet hesitate to spend it on ourselves. While we diligently save, using money for our own happiness or comfort often feels selfish.
This article challenges that mindset and explains how mindful spending can actually add real value to your life.
Roots of Guilt: ‘Money Doesn’t Grow on Trees’
This mindset has been inherited from our parents, many of whom managed households with limited resources. We saw them sacrificing their own needs to save for our education or home EMIs. Along the way, we heard phrases like ‘Money doesn’t grow on trees’ and ‘Learn to save every single penny’. These ideas became deeply ingrained in our subconscious.
Even today, when we earn well, we often struggle to break free from that old programming. For instance, you might easily afford a taxi to work but still take a crowded bus just to save money, simply because spending on a taxi feels unnecessary. This guilt is rooted in the financial struggles of our past.
When Saving Becomes Everything
Saving is important, it protects you from future uncertainties. However, when saving becomes the sole purpose of life, problems begin. You may be strengthening your balance sheet, but your life sheet remains empty.
Money is a means to improve your life; it is not the end goal. What is the use of a large bank balance if you never use that money to enrich yourself, explore the world, or simply relax? The true meaning of wealth lies not only in security but also in freedom and satisfaction.
Invest in Experiences, Not Just Expenses
Now, let’s talk about conscious spending. Not every expense is just an expense, some are actually investments. The first and most rewarding investment is in experiences.
Research shows that when we buy a material item, like a new smartphone, the happiness it brings lasts only a few days or weeks. However, when we spend on experiences, such as travelling with family, attending a concert, or exploring a new place, the happiness lasts longer as memories that stay with us for years.
That trip becomes a part of your story. You cherish those moments long after they have passed. So the next time you consider spending on a trip or any meaningful experience, don’t see it as wasteful. It’s an investment in your happiness and mental well-being.
Second Investment: Your Health
We Indians often place health at the bottom of our priority list, especially when it comes to spending money. We call a Rs 5,000-per-month gym membership expensive but don’t hesitate to pay a Rs 5 lakh hospital bill later.
Buying nutritious food, joining a gym, or visiting a therapist for mental wellness, these are not expenses. They are investments in your most valuable asset: your body.
The saying ‘Health is Wealth’ reminds us that true happiness and fulfillment lie in our physical and mental well-being, not just financial success. Money can solve many problems and improve your lifestyle, but without good health, it loses its meaning.
Third Investment: Learning
Investment in yourself always gives the best returns. You have probably heard this many times, and it’s absolutely true. Your earning potential is your greatest wealth.
You might hesitate to spend Rs 10,000 on an English-speaking course, thinking it’s costly. But if that course builds your confidence and helps you in interviews, communication, or promotions, that Rs 10,000 becomes an investment with returns worth lakhs.
Whether it’s learning a new coding language, earning a certification, or developing a new skill, spending on education and self-improvement is never wasted. It directly enhances your value in the job market.
Wrapping Up
This article isn’t asking you to spend all your savings. It’s asking you to question your relationship with money and the guilt that surrounds it.
The key lies in balance and conscious spending. Divide your money into three parts, for the future (savings and investments), for the present (bills, EMIs, household needs), and for yourself (experiences, health, and learning).
Earning money is important, but living a better life with that money is equally essential.
*The article is for information purposes only. This is not investment advice.
*Disclaimer: Teji Mandi Disclaimer
