Many people who spend time and effort teaching others about money want to cure “bad spending habits”. That’s an intriguing point, because spending is not “good” or “bad” necessarily… even compulsive gamblers, at least in Canada where the government regulates gambling, have the results of their spending benefit many charities. It’s all in the values we attach to our spending, and when you come right down to it, how intentionally you spend it. So for argument’s sake, let’s say you open your closet door one day to find some shoes, and you realize you have so many that there are some you have never worn – maybe you don’t even remember buying them. That lack of awareness while you were accumulating all those shoes might be a sign of a spending habit you want to change. In order to change the habit, it’s not enough to stop what you have been doing – you need to exchange that habit for something with some more value to you. My tip: Why not take the shoes you haven’t been wearing, and donate them to a charity that outfits low-income women re-entering the workforce? Your habit now has a great benefit to others, and a tax receipt for you. If you want, keep that charity in new shoes for as long as you like.

The bottom line is to learn to spend in line with your core values and keep your overall big picture – your goals – in mind.