There’s a few simple principles I’ve come to appreciate when it comes to spending money. The latest edition to that list is the idea of Dollar per use.
Here’s what my list roughly looks like –
- Frugal and proud. :)
- Spend on experiences (e.g. a wonderful vacation) versus things. Thus, money spent to treat friends and family is generally money well spent.
- Don’t overthink spending on learning or fitness. These are the most important investments you will make.
- For items that can be given away (such as clothes), make sure you give an item away for every item you buy.
- Consider dollar per use. If you are going to use a shoe every day, for example, it is worth investing in a good one.
I’ve pushed frugality too far in the past and skimped on everyday items. But, no more. The dollar per use idea will hopefully set that right.