3 things that are always worth it, according to CFP

  • As a financial planner, my priorities are savings and wealth building.
  • But there are times when it makes sense to spend from your treasury, for example on family experiences.
  • I also think it is worth spending money on your health and on professionals who can save you time.

Given my work as a financial planner, I am clearly a proponent of systematic savings plans and wealth building, but I also understand the reality that we all need to be consumers of products and services to some degree in our daily life.

Just to be clear, I think saving money should always take priority over spending, but the purpose of this article is to discuss some things that I think are always worth paying with. your cash.

1. Family experiences

No matter how much we plan, we don’t know what the future holds. No one is promised tomorrow, so it’s important to do our best every day we’re lucky enough to experience. One main thing to do is to love and appreciate your family.

A husband who loves his wife. Parents who cherish every moment with their children as they grow. Adult children spend time with aging parents. These are just a few examples among many others. Spending time with someone doesn’t necessarily mean money will be spent, but there are times when it does.

2. Improve your health

Yes, creating wealth is very important, but if an individual compromises their health to do so, it becomes counterproductive.

Improving your health can mean many different things to many different people, and there are different ways to go about it. In some situations, spending money can help achieve specific health goals. Paying for a gym membership (and using it) is a cost that many people think of when discussing spending money to improve their health, but there are other examples as well.

Personally, I have noticed that healthy foods (organic, etc.) at the grocery store are more expensive. Spending a little extra money on healthier food choices can go a long way to improving your health.

Another example may include paying for things that help bring pleasure to an individual and reduce stress. For me personally, it can be something as simple as going to the movies with my family.

3. Get some tasks/projects done by a professional (which ultimately saves you valuable time)

I understand the idea of ​​always trying to find ways to save money, but there are scenarios where an individual might go overboard in trying to do so. Yes, it’s great to have the ability to save money, but we also have to consider the “cost of time”. This concept can also apply to all types of people and business owners.

If you are self-employed, you can perform all the tasks related to your business. But eventually, you might find that you spend more time on the back-end of your business and less time serving your customers. Paying a professional to do your bookkeeping, for example, could be a great way to free up your time to earn more money.

The same goes for owners: even the most skilled owners may find that a task will take too much of their time to be worth it. While fixing things around your home is a great skill and will save you money over the years, some projects may be best left to professionals to free up your time.

Next Shrewsbury law firm wins battle to help ex-employees of financial firms claim huge damages