Walking through the mall today reminded me of all the material things that I have wanted throughout my life. I passed stores with video games, sets of poker chips, clothes and many other goods that I desired when I was in high school or college. Some of these items I would think about daily. I thought to myself how much I needed them to be cool, to impress my friends or to just fit in.
Looking back, I realize how ridiculous I was to think that I “needed” any of these things. Are there things I think I want to buy now that in a few years I will think back to and see how selfish I was being? How did I stop the urge to want so many things? One way was by curbing my impulse spending, but an entire mental shift needed to take place.
What I wanted in the past were material possessions, while what I want now is to be safe and secure financially in both the present in the future. I used to want to spend my money on the latest toy to play with, but now I want to build up a strong investment portfolio and build my emergency fund. I save money now, so I have it later.
Take a look at what you want now. Does it line up with what you really need? Will you even remember what you spend your money on today?