How to Practice Financial Self-Care: 7 Things I Won't Buy (as a Financial Therapist)

The truest form of self-care is Financial Self-Care, and it’s time you start practicing it.

Don’t get me wrong. I love massages and pedicures as much as the next gal, but if you don’t know how you’re paying for those things, than that tension comes back realllly quickly.

Instead, getting to the root cause of your stress (ahem, financial stress), will help you feel in-control and confident in your life.

How to Practice Financial Self-Care: Intentional Spending

A new article from Bankrate says money is the number one stressor for American households, it’s never been more important to understand how to practice Financial Self-Care.

As a financial therapist, it’s clear to me that a BIG reason for financial stress is because you were never taught how to spend money intentionally. so let’s start there.

What is Intentional Spending?

Intentional spending should be a cornerstone of your Financial Self-Care.

Intentional spending is a simple mindset shift from spending money mindlessly and haphazardly to making financial choices purposefully, deliberately, and in alignment with your values and goals.

When you shift into spending money intentionally, you will stop avoiding your money, transform your relationship with money, and put the control back in your hands.

How to Practice Intentional Spending

A question I often get is, “How do I practice Intentional Spending?”

And my answer might surprise you. I encourage you to know what you won’t spend money on and why you won’t spend money on it.

When you’re learning how to spend money well – a skill that you were likely never taught – you need to be crystal clear on your own unique values and priorities.

Just as it’s important to know what you do value, sometimes it’s even easier to pinpoint things you HATE to spend money on.

Practicing Financial Self-Care: 7 Things I Won’t Buy

These are some examples from my life that I won’t spend money on:

1. Expensive Skincare

I enjoy getting a facial once or twice a year, but when it comes to creams, moisturizers, and serums, count me out.

The beauty industry is full of false promises. With guarantees of anti-aging this and that – as though aging is something we should be running away from.

Call me crazy, but I don’t mind having a few wrinkles. Plus, I do (free) things to take care of my skin like staying hydrated, cutting wayyy back on alcohol and sugary foods, and wearing hats in the sun.

2. Coldplay or Taylor Swift Concert Tickets

You might hate me for saying this, but Coldplay is one of the worst bands I’ve ever heard. Truly my ears bleed every time I hear the song “Yellow.”

T-Swift, on the other hand, is an icon. Her music is great. She’s honestly an businesswoman to be admired. BUT I’m not spending upwards of $1,000 or more on her concert tickets.

(Before you get all defensive, remember, these are just things that I won’t spend my money on. If you’re a die-hard, I-will-spend-$40K-to-see-Ms.-Swift-girlie, go for it.)

3. Luxury Cars

If you put a Lamborghini, Porsche, or … other fancy car in front of me, I honestly don’t know if I’d be able to tell them apart.

Mama drives a Subaru, and she’s reliable and affordable.

4. Gucci Purse

I have nothing against luxury designers. There’s even a few that I love. But Gucci purses generally don’t do it for me.

The only time red and green should be together are on an ugly Christmas sweater.

5. Products from Shein or Temu

Shein and Temu are brands I simply can’t get behind. Not only are the working conditions as bad a slave-labor, they’re low-quality and high-volume transactions are terrible for Mother Earth.

I prefer to buy higher-quality, ethically-sourced clothes that will last and not jeopardize the world’s health for future generations.

6. Expensive Phone Plans

Expensive phone plans are so 2024 (and certainly something I HATE to spend money on). Instead I switched our family to Mint Mobile and pay $40 per month for cell phone service.

Since switching our plan in 2020, I’ve saved my family more than $2,000 per year, saving us well over $10,000! What could you do with that kind of savings?!

If you’re in a place of wanting to save money, go ahead and give Mint Mobile a try.

7. Amazon Prime

There is an entire soapbox I could stand on and count all the ways that Amazon Prime doesn’t align with my values, but I’ll refrain.

Suffice it to say, I don’t like and will not spend money on Amazon Prime for two primary reasons:

The convenience, ease, and honestly, magic in which Amazon Prime is able to deliver things to your door within hours through the “1-click to buy” option makes for a dangerous hole that impulsivity would quickly have me falling down.
You can get free shipping with any purchase on Amazon of more than $35.

The Wrap Up: Practicing Financial Self-Care

Again, none of these are bad things to spend your money on if they align with your values and goals.

Remember, I’m a financial therapist.It’s not my job to tell you what to spend your money on. It is my job to help change you behaviors and habits to spend in alignment with your bigger dreams and desires for your life.

If you’re one of the people who are feeling stressed about money, I encourage you to find FREE ways to support your mental health.

Some ideas include being outside, movement, connecting with your favorite people, dog parks, staying off social media, organizing or decluttering your house, crafting (using supplies you already have), etc.

This stuff is hard, but you’re doing great! Now, go enjoy the rest of your day!