I have gotten much better now, but I still hate to spend money on things personally. My wife just told me she wanted to put some new cabinets up in our laundry room, and I fought her on it lol. Probably a few hundred dollars.
At the same time some of my recent business expenses: $30k on a new investment property, $550 on painting a property, $10,000 paying out a contractor, $500 replacing some toilets, $500 paying for an employee to get licensed, $1500 on landscaping….
On top of that theres the daily costs of payroll and marketing.
It's like I need to see a return to want to spend money. But I am trying to relax my views.
Anyone else cringe at spending money on their personal lives while spending a small fortune on their business?
byu/Superb_Advisor7885 inEntrepreneur
Posted by Superb_Advisor7885
16 Comments
Yes, totally normal.
When I started spending money on ads, anything I wanted to buy in my normal life i’d hesitate with the thought “this $500 purchase, if put into ads, would bring me X leads and Y revenue”.
With that said, for whatever reason spending $500 in my personal life felt like spending a penny… But spending $500 in my business felt like I was taking out a loan. No idea why.
It’s the other way around for me (and am sure, few others may relate). I spend much more on personal shopping for luxury goods & services (cars, clothes, watches etc. ) but more calculative when it comes to investing / purchasing something for my business.
Don’t argue with your wife a divorce is far more expensive than some cabinets.
I knew a guy who calculated the loss after revenue in taking a vacation together with the actual holiday costs. This was a great way to suck the joy out of any vacation. Well he now has his way he can keep on working while his ex wife insofar vacationing 😉
I am equally careful both sides. Just because you can declare them as expenses doesn’t mean you can spend them carelessly
Its production vs consumption. Try to find a balance please.
Oh yes. I still clip CVS coupons for toothpaste, deodorant, consumables and go when theres sales to stock up. I aim for clearance section first at most retail stores (especially Home Depot) and buy most of my clothes from Amazon or Walmart, double down by buying several of the same so I don’t have to think about what I’m wearing.
Business and cars are my guilty pleasure though. Spent almost $1m on 2 car purchases at the same time and in the past several months, maybe $200-300k on business upgrades.
Don’t get me wrong, the cars were a pure money making play. Just so I can be more frugal after selling 😀.
i bought two water bottles today for a dollar each. i was very upset 😭
👍
Feel you there! Went through a similar phase – business spending = A-OK, personal spending = major guilt trip.
Here’s what helped me:
1. **Happy spouse, happy life!** A few hundred bucks for cabinets might be worth the peace (and a potential DIY project with your wife?).
2. **Invest in yourself too!** Think of personal spending as “investing in your well-being” – reduces stress, boosts productivity (and maybe even sparks new business ideas!).
3. **Set budgets for both.** Allocate a specific amount for personal spending each month. Sticking to it will ease the guilt and make those “fun” purchases more enjoyable.
Remember, a successful business owner needs a balanced life. Good luck!
I paid 5k on my car and 6k on a new course I have been eyeballing. Keep growing!! Eventually it will be a 100k course and a 200k mastermind.
Wife about to divorce me
Me at home: that buguer its far too expensive, lets go to this other place! New curtains? 50 USD? NO WAY, who needs that?
Me at the office: We need a new computer that can handle AI? here is $2.000 go and buy it today, get one of the good ones.
btw it took literally YEARS to feel comfortable using my money for vanity stuff like VR or handheld consoles, and sometimes im still thinking it for weeks or months before buying it
I think it really depends on what you are spending the money, I know people that have a lot of money and they don’t even spend money on underwear, or a decent bathroom (I mean like, a fully functional toilet). And if you see them you will likely think they are extremely poor when it’s actually the opposite.
Personally, I cringed the other way. I spend like 99 percent on myself and other people and 1 percent on business. I supposed balance in all things is the way.
For sure. What has helped immensely was getting an Amex for the business spend and using the points to fund vacations.
Yes seeing my wife’s spending habits make me cringe, but my business blows thru so much more and I don’t bat an eye