Does your spending align with your current life stage?

Rules of thumb provide a great starting point early on in our lives and can help us build a solid financial base. But by the time you reach your late 30s, those same rules often fall short as our lives have gotten much more complicated. One way to move beyond financial rules and level up our lives is to start asking a different question.

Does my spending align with my current life stage?

To answer this question with comfort and confidence, we must first start by acknowledging our three most valuable yet limited resources – our time, our money, and our health. How we choose to go about allocating these resources can and should change based on the different life stages we find ourselves in. For example...

When you’re earning good money while shuttling your young kids all over the place to their various activities, spending money to free up more of your time makes a lot of sense. Some examples could include paying for lawn and garden maintenance, signing up for a meal delivery service, or having your laundry done for you.

When you’re earning good money and your kids are older and/or out of the house, it might be time to start spending more on your health. Hire that personal trainer, work with that nutrition expert, or start seeing the chiropractor to get your neck and back aligned. Having enough time and money doesn’t mean much if we don’t also have our health.

So if you haven’t done so recently, take a minute to evaluate what life stage you find yourself in at the moment. Once you’re clear on where you are at right now, it becomes easier to optimize and prioritize how to allocate your limited time, money, and health.

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