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You're Spending Your Money Wrong. Spend Money and Time the Same Way.

You're spending your money the wrong way. It's alright, that's not an accusation. It's simply a symptom of the society we live in and it takes mental fortitude to start spending the right way.

You might have expensive rent/mortgage payments, a big car payment, credit card bills, expensive gadgets that you only a couple times per year, and many other money drains that are hard to keep track of. Much of this type of spending is perpetuated because everyone spends this way! 

The Better Way

There is a better way to spend! There is a simple principle to get the most satisfaction and happiness out of your spending:

                           SPEND YOUR MONEY WHERE YOU SPEND YOUR TIME!!

Too often I see clients who work from home, order food in, and only drive their kids to baseball practice driving $80K cars. Alternatively, I have seen client who spend 90% of their work life travelling and spend thousands of dollars per month on a mortgage! These habits lead to lots of dollars being spent on things that don't get used very often and feeling like one doesn't have much money to go around.

A couple that are friends of mine spend dozens of hours every month mountain biking and therefore spend quite a bit of there budget on quality gear and bikes. They aren't at home all that often so they live much more modestly in terms of their residences and vehicles. 

Similarly, if you live in NYC, it's likely you aren't driving or parking much so why own a car? In LA, the opposite is the case and you'll sit in the car for hours each day. It may be worthwhile to spend quite a bit of money on your transportation. 

When figuring out if you are spending your money in the way to maximize happiness, look first at where you spend your time.