“Take care of things and they will last,” as the old saying goes! But beyond just saving, spending money wisely is also an art, wouldn’t you agree? Have you ever wondered why some people spend lavishly and still thrive financially, while others pinch pennies and still struggle? The secret lies in “Spending Skills”—a soft skill not everyone has mastered.
From a young age, we’re taught the value of money, and how to save and spend wisely. But in reality, spending skills are more than just tracking expenses or sticking to a strict budget. It’s an art that requires self-awareness, balancing needs with desires, and knowing how to make money a tool for building a more fulfilling life.
Spending Skills – More Than Just Saving
Many people mistakenly equate spending skills with extreme frugality. But in fact, smart spending is about allocating financial resources effectively to essential needs, while also creating added value for yourself and your future.
1. Understand the Value of Money & Yourself
To spend money effectively, you first need to understand its value. Every dollar you earn is the result of your time, effort, and intelligence. Cherish them and use them wisely. At the same time, you also need to understand yourself, identify your true needs versus fleeting desires, to make sensible spending decisions.
For example, investing in education, health, or personal development are “spending” choices that bring long-term value, worthy of prioritizing over luxury items that only satisfy temporary emotions. As psychologist Nguyen Thi Thu Ha shared in her book “Consumer Psychology”: “A smart consumer is someone who knows how to use money to invest in themselves, for the sustainable development of themselves and their family.”
2. Create a Flexible Spending Plan
Are you familiar with the 50/30/20 rule in personal finance management? According to this rule, 50% of your income should be allocated to essential needs such as food, housing, and transportation; 30% for entertainment and personal hobbies; and the remaining 20% for savings and investment goals.
Of course, these are just reference figures, and you can adjust them to suit your own circumstances and conditions. The important thing is to have a clear spending plan, closely monitor your cash flow, and adjust flexibly when necessary.
3. Turn Spending into Investment
“Money isn’t everything, but it can help you do many things,” a great quote from investor Warren Buffett. Instead of just spending money on temporary material values, learn to turn it into profitable investments for the future.
You can choose to invest in financial channels such as stocks, real estate, or simply invest in learning, improving skills, and expanding relationships. All of these will help you increase your income and create financial independence in the future.
4. Spread Love Through Spending
There’s an old saying, “Get rich with friends, get status with a wife,” spending on meaningful relationships is also a wise investment. Spend time and money to take care of yourself, family, and friends.
Sometimes, just a cozy meal, a meaningful gift, or a trip together is enough to nurture relationships and create memorable moments. In addition, you can also spread love by participating in charity activities and helping those in difficult circumstances.
5. Continuously Learn & Improve
Spending skills, like any other skill, need to be practiced and improved continuously. You can refer to books and newspapers, attend personal finance management courses, or learn from the experiences of successful people.
Want to improve your conflict resolution skills? Check out the article “Basic skills in conflict resolution” for more useful information.
Conclusion
Spending skills are a long journey, requiring perseverance and continuous effort. Remember that money is just a means, happiness and peace of mind are the ultimate goals.
Are you ready to turn money into seeds that sow happiness for yourself and your loved ones? Leave a comment and share your story with us!
Want to learn more about other soft skills? Visit the “KỸ NĂNG MỀM” website or contact the hotline 0372666666 for free consultation. We are always ready to accompany you on your journey of self-development!
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