3 Things About Halloween That Apply To Your Money As Well
October 31, 2018While shopping for Halloween costumes for our kids recently, I started thinking about what we can learn from Halloween as it relates to our money (yes, these are the things I think about). Bear with me on this one. When you really think about it, it makes sense.
How Halloween & your money are related
There’s more than one way to do it
Do you have a neighbor that goes all out for Halloween with lights and decorations? (Maybe you are that neighbor.) Or maybe you really like going out with the kiddos or passing out candy to the trick-or-treaters. On the other hand, maybe Halloween just isn’t for you and you make a point to keep your porch light off on October 31st. The point is that there is no right or wrong way to enjoy Halloween – it’s whatever works best for you. And when it comes to your money, there is no wrong way to manage your finances either, as long as you’re on track to meet your goals.
The key is finding the tools and process that works best for you. Some people like to track every dollar spent and check their investments very regularly. Others prefer to track spending at a very high level and rarely check in on their investment accounts. Still others find a way to do it that requires very little hands-on activity. If you haven’t found a way that works for you, keep trying new ways. If you are living below your means and taking action to reach your goals, there is no right or wrong way to do it!
Don’t eat all your candy right away
As kids, it is really hard to have the discipline to not eat all of those Halloween treats right away. In my house, we take the candy haul and hide it from our kids and give it to them over time. As adults, we need that same discipline when it comes to our finances. Whether it is impulse buys, taking vacations we can’t afford, or just living beyond our means in general, we need to find a way to enjoy our money without spending it all at once.
Having a spending plan in place and sticking with it over time allows us to make the most of our income to reach our financial goals. Like any new skill, this takes time and practice. It is ok to have slip ups and setbacks – that is a healthy part of learning and is natural. Just like we know eating a lot of candy in one setting is not healthy, we can ensure our spending reflects what is most healthy for our finances in the long run. Perhaps the key for you is to find a way to “hide” money from yourself!
It’s usually more fun than scary
The excitement of a good scare in a haunted house is something a lot of us enjoy. Unfortunately, many people I speak to on our Financial Helpline are scared by the prospect of improving their finances. But once they start taking small actions, they find the progress they make to be empowering and fun. Reaching goals (and rewarding yourself when you do) leads to setting bigger goals.
Being in control of your money is fun and rewarding. And the best part is, no matter where you start from, you can do it! While it may be scary at first, getting started really is the hardest part.
Happy Halloween!