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According to personal finance expert, Ramit Sethi, you may be going about your money management all wrong.
Instead of fretting over every dollar you spend, Sethi recommends that you spend freely in certain key areas.
Comfort
Weve all heard the cliches about avocado toast and lattes.
If you manage to eliminate the little luxuries, youll supposedly be in a better position to save money.
But the truth is, nobody ever got rich just by cutting out avocado toast.
No, its over 2,500 avocado toasts.
If anything, Sethi says that you shouldnt deprive yourself.
For him, a little bit of luxury is a non-negotiable part of a good life.
I indulge every now and then when it comes to comfort, the finance guru explained.
For you, indulging in comfort might mean buying French-milled soaps or fine-quality chocolate.
Whatever it is, dont miss out on the little things that make life worth living.
Youll have more energy and more stamina, as well asbetter mood management skills.
Education
When it comes to education, Sethi calls for no-limit spending.
Thats because this is an area that can have a tremendous impact on your well-being and future.
Books
Sethi has a simple rule for himself, which he calls, Ramits Book-Buying Rule.
Whenever the financial guru feels like buying a book, he does.
For him, the no-limits rule on books is all about giving himself permission to live a joyful life.
Then, as far as your finances allow, indulge that love.
Let yourself spend without limits in that area, and dont feel guilty about it.
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