As we get our businesses up and running, we might find ourselves to be strapped a bit financially. In fact, that dwindling bank account might be exactly why we decided to take matters into our own hands and create our own sources of income.
Budgeting and saving are important, and there are definitely things you could buy that would be considered a "waste of money" — not something you want to do any time, but certainly not when you have to make every penny count.
The definition of waste is different for all of us, but we can probably agree that while we're being especially careful with our balance, it's a good idea to take a bus instead of a cab, buy a used car instead of a new one, and skip the fancy restaurant to cook at home.
That said, we still have to live and grow, and there are certain "extras" that you will probably never regret spending money on.
Research has shown that people who spend money on experiences rather than material items are happier. There have been a lot of articles that talk about this, including this one from The Atlantic last year. So if your budget only allows for a fancy new phone or a camping trip, take the camping trip.
Like Jim Rohn said, "It isn't what the book costs; it's what it will cost you if you don't read it."
Classes, webinars, conferences: programs that help you grow as a person or that help you grow your business are worth every penny. More than likely, you'll have a fantastic time attending the event (there's that experiences thing again) and what you learn, when applied, will be invaluable.
Sure, things can go wrong during a trip, but it's rare that you would return and say, "Gosh, I wish I'd never gone to Tahiti." Like that article in The Atlantic says, "Even a bad experience becomes a good story.... Even if it was negative in the moment, it becomes positive after the fact." Traveling gets us out of our comfort zones, gives us the rush of adventure, and teaches us about the world we live in. It's a valuable investment in your personal growth.
Have you ever regretted spending money on something? Have you ever spent big on one of the above, perhaps after having difficulty deciding to spend the money, and are now glad you went ahead with it?