Dabbling in buying tech stocks, the StitchFix subscription, a Tock gourmet take out habit, and that regular Starbucks order.

Do any of these guilty pleasures ring a bell? Are you ashamed of the ones you identify with? 

We call them guilty pleasures but they tend to be things and experiences we genuinely enjoy. Why is that? And how can we enjoy them responsibly without the guilt?

Provided you already have ample breathing room in your finances, let’s start by figuring out whether or not your guilty pleasures are actually moving your financial needle at all.

For instance, if you’re regularly contributing to your cash cushion and funding your retirement and college savings according to your overall plan, a one-time commitment of a few thousand dollars to scratch your itch for a tech stock or two is probably not a big deal. And if you have extra money left over after your expenses and savings each month, please enjoy your daily latte habit without feeling guilty about it.

What are some examples of things that might move your financial needle? Things like renovating your house, buying nicer cars, or adding a vacation home can chip away at your breathing room and require adjusting your expenses and savings to make it work. 

Just to be clear – I’m not saying that you CAN’T do these things. You’d just be well served to revisit your overall planning BEFORE making these types of decisions. This way you can avoid the regret that comes with only seeing the big picture impact AFTER the fact.

Not knowing if you have ample financial breathing room is likely what’s leading to your guilt in the first place.

Confidence in your spending decisions comes with clarity – clarity on how your decisions might impact your financial well-being both right now and down the road.

If you’ve already done the work, you know your numbers, and your breathing room comfortably covers your guilty pleasures, consider this permission granted to enjoy them guilt-free. Life tends to become easier and more enjoyable in general when we’re confident that we’re using our money well.

And if you find yourself needing to figure out how much breathing room you’ve got to work with or looking for some reassurance, please know that I’m here to help.

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