Ben Johnson, CFP®, RLP®,AEP®,MS
Providing Clarity, Confidence, and Peace of Mind to your Financial Plan, so you can Enjoy Life Now and In the Future.
December 9, 2025
Picture “financial planning,” and most likely you imagine spreadsheets, budgets, and the vision of your hard-earned dollars multiplying in investment accounts. While building wealth is undeniably an integral component of any solid financial plan, there’s another side to the story—one that is often overlooked. True financial wellbeing isn’t measured solely by how much you accumulate in your accounts. It’s equally (if not more) defined by how you spend your money, intentionally and joyfully, in ways that enrich your life and reflect your values.
Redefining Financial Planning: More Than Just Saving and Growing
For decades, the popular narrative surrounding financial planning has revolved around saving for a rainy day, investing wisely for the future, and building a nest egg for retirement. These are, of course, vital. Saving cushions us against life’s uncertainties and gives us peace of mind. Wise investing allows our money to grow, harnessing the power of compounding over time. But a financial plan that focuses solely on accumulation misses a critical piece: the art of spending.
Spending is too often cast as the villain in the personal finance world—the indulgence that derails our goals and compromises our security. But in reality, how we spend our money shapes our experience of life. Mindful, purposeful spending transforms money from a source of stress to a powerful tool for fulfillment.
The Psychology of Money: Why Spending Matters
Money is never just about numbers. At its core, it’s about values, priorities, and feelings. When we spend, we’re making choices about what matters most to us. Are we prioritizing experiences with loved ones, supporting causes we believe in, investing in our health, or accumulating things that might ultimately bring us little joy?
Research shows that the way we spend has a profound impact on our happiness and wellbeing. Experiences—travel, learning, dining out with friends—tend to deliver more lasting satisfaction than material possessions. Thoughtful spending can enhance our relationships, health, and quality of life. In contrast, mindless or impulsive spending often leads to regret and diminishes our sense of financial security.
Striking the Balance: The Three Pillars of Financial Planning
A truly holistic approach to financial planning rests on three pillars:
· Saving: Building a safety net for emergencies and future needs.
· Growing: Investing to ensure your money works for you and outpaces inflation.
· Spending: Using your resources intentionally to enhance your life in the present.
Often, financial advice emphasizes the first two pillars and leaves the third to chance. But what if spending was as intentional, strategic, and celebrated as saving or growing your money?
Why Spending Is Essential to Your Financial Plan
1. Life Happens Now
We can’t predict the future, but we do know that life unfolds in the present. While it’s wise to prepare for tomorrow, it’s unwise to sacrifice all current joy for a hypothetical future. A rigid focus on saving can lead to deprivation—and, ironically, dissatisfaction that may prompt future bouts of overspending.
2. Spending Reflects Your Values
Every dollar you spend is a vote for the life and world you want to create. Financial planning should help you clarify your values and align your spending with them. Perhaps you value adventure and allocate funds for travel, or you cherish family and set aside money for shared experiences. Maybe supporting local businesses or charities is important to you. Your spending can (and should) bring your values to life.
3. Avoiding the “Someday” Trap
Many people fall into the trap of perpetual saving or investing, waiting for the elusive day when they’ll finally feel “secure enough” to enjoy their money. But security is a moving target, and the opportunity for memorable experiences can pass by if not seized in the moment. Smart financial planning encourages you to savor life along the way—not just at the destination.
4. Mindful Spending Prevents Regret
Just as saving requires discipline, spending requires mindfulness. Impulse purchases or lifestyle inflation can sabotage your future goals. But the solution isn’t to shut down spending but to channel it toward what truly matters and brings lasting joy. Plan for “fun money” in your budget, and give yourself permission to spend without guilt on the things that make your life richer.
Practical Steps for Integrating Spending Into Your Financial Plan
· Clarify Your Values: Take time to identify what matters most to you. Is it travel, education, health, generosity, or something else? Make a list of your top priorities and revisit them regularly.
· Create a Spending Plan: Go beyond the traditional budget that just limits expenditures. Allocate funds proactively for the areas you care about most, and set aside “guilt-free” money for spontaneous joys.
· Review and Reflect: Periodically review your spending. Are you satisfied with where your money is going? Adjust as needed so your spending continues to reflect your evolving values and goals.
· Balance Present and Future: Strive for an equilibrium between saving for the future and living well today. Automate savings and investments, but also automate some spending for fun and fulfillment.
· Seek Professional Guidance: A good financial planner will help you balance goal-setting for the future with enjoying your life in the present. Don’t be afraid to ask for help striking the right balance.
Spending Guilt-Free: The Power of Permission
One of the great paradoxes of personal finance is that many people who diligently save and invest still feel anxious or guilty about spending, even when they can afford it. Giving yourself explicit permission to spend within your means—on things that spark joy, facilitate growth, or build relationships—is an act of financial self-care.
Remember, the purpose of money isn’t just to accumulate for its own sake; it’s to help you build a life that feels meaningful and fulfilling. When you approach spending with intention rather than anxiety, money becomes a source of possibility, not stress.
Conclusion: True Financial Freedom Is About Choice
Financial planning, at its best, is about creating choices and expanding possibilities. When you save and invest, you’re building options for your future. When you spend thoughtfully, you’re embracing the present and making life richer right now.
The next time you sit down with your budget or review your investment accounts, remember: the most successful financial plan is one where your money grows—and where it’s actively working for you, not just in the future, but in every day you live. Embrace the art of spending as an essential pillar of your plan, and enjoy the freedom that comes from using your resources in ways that truly matter.
In the end, financial wellbeing isn’t just a number on a statement. It’s the lived experience of a life well spent—one mindful purchase, memorable adventure, and meaningful choice at a time.