10 Reasons Why You Find It Hard to Spend Money on Yourself
You easily buy gifts and other stuff for your family, friends, and even strangers, but when it comes to spending money on things you want for yourself, you hesitate or feel guilty. Does this describe you? Do you find it difficult to spend money on yourself? If your answer is yes, you are not alone.
A lot of people are stingy to themselves. They usually procrastinate or refuse to buy things, and often regret it when they spend money on their needs and wants. For example, you can’t buy yourself gifts, eat in nice restaurants, or hire professionals for services.
You can spend money on other people, even purchase expensive stuff for them in the name of ‘love’ or ‘care’, but can’t buy yourself even the cheap, necessary things without feeling guilty or afraid of what might happen next.
If you’re usually stingy to yourself and want to change, this article is for you. Continue reading to know some of the reasons why you find it hard to spend money on yourself and how to make it easier to do so from now on.
Sections:
> Why You Struggle with Spending Money on Yourself
> How to Spend Money on Yourself Without Feeling Guilty
Why You Find It Hard to Spend Money on Yourself
- You are concerned for others
If you’re the kind of person who worries about others a lot, it is no surprise that you find it hard to spend money on yourself. You will feel guilty and think you are wasting money when other people, whether it’s your family or the less fortunate, probably need it more.
You can easily donate money to charity, give it out to family and friends, or buy expensive items for your kids or partner, but you can’t purchase things for yourself.
- Your past experiences
Your past influences your choices in the present. The reasons why you find it hard to spend money on yourself could have something to do with your background. For instance, you grew up poor, had parents/guardians who were misers, have ever been completely broke, or had parents or a partner who mismanaged money.
With such bad past experiences, you may not want to spend money on yourself even when you have a lot of it because;
- You aren’t used to having extra cash
- You feel guilty about using money on non-necessities
- You don’t want to lack finances ever again, or
- You don’t want your kids to have the same experience of not having money for what they want.
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- You have other financial commitments
When you look for it, you will always find something else you can spend money on. The things money can buy are nearly limitless.
The reason you can’t spend money on yourself may be that you have other financial commitments you think would be better uses for the money. For instance, you may want to save your money because you’re thinking about outstanding debts, your kid’s school fees, family vacation, property maintenance, or retirement.
- Anxiety about the future
Do you usually put money aside ‘just in case’ you lose your job, fall ill, or have some other emergency? This is a good habit; however, some people take the saving too far, denying themselves the things they want or need due to having anxiety about the future.
One might have a lot of money saved up right now that they can use for whatever they want, but the fear of it running out or not having enough for some future emergency makes them hoard it, not wanting to waste it, especially on non-necessities for themselves.
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- An obsession with saving
Are you obsessed with saving to get rich or reach a particular net worth? This might be why you can’t spend money on yourself. You may pay too much attention to the numbers in your bank accounts and not want to use any of your money on your needs and wants for fear of the figure decreasing.
- You hate being wasteful
If you are a minimalist or someone passionate about environmental sustainability, it may be why you don’t like spending money on yourself. It is especially hard to do so when what you want to buy isn’t a necessity. You don’t want to own stuff you don’t really need, you think the items would be a waste of resources, or you consider the process of getting them detrimental to our planet.
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- You are always waiting for deals
Why pay full price for things when you can wait for when the items are discounted or have freebies? Like on Black Friday or around other major holidays.
Some people who find it hard to spend money on themselves don’t purchase things because they never want to pay the full amount for items or their shipping costs. They prefer to wait for deals that may never come.
- You are waiting for something better or cheaper
If you look for it, there will always be something better or cheaper. But this could be why you struggle with spending money on things you want for yourself.
You may find something you like, but hesitate to purchase it because you think a better or cheaper version of it is out there or will come out later. When you find that better or less expensive version, you might put off purchasing it because you want something even newer, better, or cheaper. You end up never buying what you wanted.
- You overthink every purchase
It is a good money habit to give every purchase some thought before going for it to avoid regrets later. Sleeping on the decision can help you avoid impulse buying stuff.
However, if you usually overthink every purchase, taking a long time trying to justify it, that could be the reason you can’t spend money on yourself. You might never make the final decision to buy it, even if it is something you really need or want.
- You fear other people’s opinions
What will people say if I buy myself this item? Will they judge me and say I’m showing off? Will they think I’m wasting money?
The fear of other people’s opinions about what you spent your money on could be the reason you find it hard to spend money on yourself, especially when you want to spend it on luxury.
How to Spend Money on Yourself Without Feeling Guilty
- Identify the reasons why you feel guilty
- Set your financial goals and plan
- Set aside money for your wants and ensure you use it
- Permit yourself to spend on yourself. You deserve nice things too.
- Start by spending money on small, inexpensive things
- Consider the benefits of the items or services, e.g., convenience, fun, new experiences, or looking good
- Help others when you can
- Get rid of the scarcity mindset
- Don’t overthink purchases. Allow yourself to impulse buy.
- Let go of the past
- Remember that you only live once (YOLO) and do things that make you happy today
- Embrace an uncertain future
- Make room for new stuff by getting rid of your old things
- Keep a list of everything you want to buy and purchase them all together someday
- Trust your decisions
READ NEXT:
> What to Do After Achieving All Your Goals
> 10 Things You Must Sacrifice to Be Successful
> How to Achieve Financial Freedom Before You Turn 30
> 10 Best Long-Term Investments Right Now
Ready to do some shopping?
Why do I find it hard to spend money on myself? How can I buy myself things without feeling guilty or regretting it? You now know the answers to these questions.
Stop being stingy to yourself. Use the tips above to learn how to start spending money on yourself without feeling guilty, ashamed, or afraid of what may happen afterwards.
Get rid of money guilt and enjoy the fruits of your labor. All the best as you do your shopping for things that make you happy and improve the overall quality of your life.
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