4 Ways to Redefine Luxury

Social media combined with self-comparison can lead you down the dangerous road of doubt, fear and overall uneasiness. “Why can’t I buy this? Why can’t I travel there? I wish I could drive that car. They seem to have it all together. Why is it taking me so long to get to the next level?” Before going too far, remember this: social media is a highlight reel full of things people choose for you to see. In order to stay true to who you are, check out these reminders to re-center your mind and your finances.  

Define what luxury means to you

When we hear luxury, people often think about material possessions such as clothes, purses or cars. While these things do exist, have you ever thought about this as it relates to your quality of living? Being able to handle emergencies without impacting your budget, planning for a much-needed vacation or eating out when you choose are also considered a luxury. Think about what means the most to you. Is it being able to take yourself out on a dinner date? Is it being able to splurge on a spa day? 

Narrow your focus

Too much of anything isn’t useful – and too little of something isn’t the most ideal. While you may not be able to focus on saving for your dream car, an island vacation and endless shopping sprees – you can choose one to focus on for a set amount of time. Using this method will help you focus your financial habits while avoiding emotional or impulse decisions. Everything is attainable, but we must break out goals into manageable steps. 

No one has it all even if that’s what they show you

Social media, television and every marketing avenue we come across daily has one job – and that is to persuade. Marketing agencies aren’t concerned about your budget, your financial aspirations or your credit. Their sole purpose is to ensure you consume and spend as much as possible at any cost. Your job is to make sure you’re protecting your mind and securing your own financial future. What accounts are you following on social media? Do they serve as motivation or are they stirring up feelings of inadequacy? Remember, you control what you see. Don’t allow people you don’t know dictate how you choose to live your life – this looks different for everyone.  

Having a savings is a luxury

Society tells us to buy, spend, enjoy and live in the moment. This is only a half truth. The ability to pay your bills on time, save, have discretionary spending and live life on your terms is the real luxury. Spending time with loved ones, witnessing children grow and having peace of mind are things money cannot buy. 

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The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through coaching, education, and an innovative learning hub on wheels. Creator Marsha Barnes is a Certified Financial Social Worker, Official FICO Brand Ambassador, and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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