The #1 thing that I hear from parents when I tell them that I teach kids about money is, “How do I teach my kids to save?”. That’s no surprise. We all know that saving is essential. We all know that we should be savers and not spenders. But we’re so used to knowing that saving is good that we don’t even ask ourselves WHY we are saving?
And the answer is simple. To buy more stuff.
We’re just saving for more stuff. And that’s how we get stuck in the constant chase for more. There is no end to how much stuff is out there or how much stuff we can buy. So, we keep saving to buy more stuff… and saving even more to buy even more stuff… and on and on. The cycle never ends.
So, how do we break that cycle?
That brings us to the #1 Golden Rule of Money, Only buy the awesome stuff.
So, what is the awesome stuff? It’s the stuff that’s REALLY important to us. The stuff that we value more than anything else. The stuff that doesn’t get forgotten and tossed in a corner to collect dust.
If we pause for a moment and think of our favorite things, memories and experiences, it’s the awesome stuff we think of. When you can feel it in your entire body and just thinking about it brings a permanent smile, you know it’s the awesome stuff.
So, the next time you’re about to buy something, pause for a moment.
….. and ask yourself, is this the awesome stuff?
And it’s that pause.
That reflection on what’s most important to you that will create the shift from always wanting more to only spending on things that will bring you the greatest joy.
It’s a simple rule, but it contains the seeds of something much bigger.
This one rule is the beginning towards genuinely living a rich life.
So always remember, Only Buy the Awesome Stuff.
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