Letter to Me: Spending Money

There are two Joels. One Joel is super good at saving money and only spends on what’s necessary. The other Joel? He tends to impulsively spend on stuff he doesn’t really need, and then kicks himself for it later. This is a letter from Frugal Joel to Spendthrift Joel:

Dear SJ, this is FJ.

So you want to spend money. That’s cool. What do you want to buy?

A new app or subscription service?

Before you hit that ‘subscribe’ button, ask yourself why you want it. How is it going to improve your life? Do you have any other apps that can do the same thing? And how often are you really going to use it?

Remember that writing app you paid for, thinking it would turn you into the next J.K. Rowling? Or the Adobe Creative Cloud you hoped would make you the next Ansel Adams? They didn’t quite work out, right? And you never use them.

And that new AI service everyone on Reddit is raving about – is that why you want it? Just to seem cool? Think about whether it’s worth the monthly cost.

Electronic gadgets are another big one.

Want a new one? Cool, but why? Is your old one really that slow? What can’t you do with it that you want to do?

You’ve lived a good chunk of your life without the latest features, so why do you need them now? Will a better camera turn you into a pro photographer? Think about how many times you’ve upgraded your phone – are your pictures really that much better?

And remember, there’s always more cost than just the price tag. New games, apps, accessories – they all add up. And don’t forget the worry about keeping your new gadget in perfect condition.

And the biggest cost, your time. You don’t have time to watch all of the streaming services that you currently have—when will you have time to watch the new one? Will an addictive new series take time away from other priorities like doing things with your family, getting enough sleep, or exercising?

Are you only wanting this new gadget because the latest model just got announced? Or because you want to seem trendy? Remember, you’re more than what you buy—your favorite brands are not your identity, and they are not your friends.

Think you really need this new thing? Can’t stop imagining owning it? Take a step back. Remember that companies spend loads to make you want their stuff, creating “needs” that aren’t really there.

Now, to wrap it up. It’s totally okay to spend money, but the key is to do it thoughtfully. Don’t just buy stuff because it’s trendy or because you think you “need” it. Be honest with yourself about what value it’s really going to add to your life. And if it’s not in your budget, hold off.

Try this: wait 30 days before making a big purchase. And during that time, don’t get caught up in all the hype, like watching video reviews or reading blog posts about it. If after the waiting period you still want to buy it, cool. But first, try to get rid of something you already have in the same category. This way, you avoid clutter and enjoy your new purchase even more.

Remember, you’ll appreciate your new stuff way more when you’ve planned for it and can actually afford it.

FJ