Learning to Enjoy My Money
Written by Jane Switzer

Tuesday, August 11th, 2020

I would describe my money personality type as "anxious saver."

Even though I'm debt-free, I save, I invest and earn a decent living, I find it hard to spend money on more expensive things like travel, furniture that isn't made of particle board, or a quality item of clothing that I know will last longer than the average piece of fast fashion.

Recently, I joked to a friend that I wish I had been more "irresponsible" with my money and taken more vacations before the COVID-19 pandemic hit. Being smart with money has sustained me through periods of unemployment and financial uncertainty, but the last few months awakened a new financial priority: learning to live a little and enjoy spending the money I have.

A New Financial Goal: Spend With Intention

Spending a lot of time at home made me realize that I value having a clean and well-decorated apartment, both for entertaining family and friends, and for my own mental well-being. I'm currently tackling a project I've been putting off for years: getting two vintage armchairs I inherited from my grandma reupholstered.

The quote I received from a local business puts the cost at around $800 to $1,000 for both chairs, which is a significant chunk of money for me. However, working with the upholstery company to pick out colours, fabrics and designs has been a fun creative outlet.

When the job is complete, spending money on a stylish reincarnation of a sentimental item is something I'll actually feel good about.

I'm Learning More About Saving and Investing

Good intentions apply to savings, too. Part of easing financial anxiety and enjoying spending money means knowing where my savings are going.

When it comes to my investments, it's about knowing how my money is being invested, and how those investments are working for me.

The intricacies of investing (and all the jargon) can feel overwhelming. Reading as much as I can has really demystified investing and made it way less scary. After diving deeper into books, blogs and online resources, I feel more confident about taking a more active role in planning for my future.

Following Through on Long-Term Goals

Planning international vacations has always stressed me out, and I've put off opportunities to travel because I thought "there's always next year." Recently, I set up and labelled a new savings account with a very specific travel-related goal — "Luggage 2021" — because I'm in my 30s and I still borrow suitcases from my parents.

I don't know when my next vacation will be, or what international travel will be like over the next year or two, but saving up for a sleek new suitcase is giving me something to look forward to.

Easing Financial Anxieties By Being Proactive

I'm still living within my means and saving, but I'm also working on shifting my spending toward the things I value, and away from what I don't.

Overall, becoming more aware about saving, investing and spending has eased my anxieties about my financial future. And by being more intentional with my money, I'm learning that enjoying spending isn't being "irresponsible" at all.

Share now

Saving, tracking your spending and staying on top of your finances can all be a breeze.

Interested in growing your savings with Tangerine?

Related posts

Tax Savings if You Worked From Home in 2021
Tax Savings if You Worked From Home in 2021
April 4th, 2022 | Robin Taub
Simple Checklist to Make Filing Your Taxes Easier
Simple Checklist to Make Filing Your Taxes Easier
April 4th, 2022 | Robin Taub
Why I'm Investing in GICs for the First Time in Years
Why I'm Investing in GICs for the First Time in Years
February 25th, 2022 | Anne Papmehl
Legal Stuff
This article or video (the “Content”), as applicable, is provided by independent third parties that are not affiliated with Tangerine Bank or any of its affiliates. Tangerine Bank and its affiliates neither endorse or approve nor are liable for any third party Content, or investment or financial loss arising from any use of such Content.
The Content is provided for general information and educational purposes only, is not intended to be relied upon as, or provide, personal financial, tax or investment advice and does not take into account the specific objectives, personal, financial, legal or tax situation, or particular circumstances and needs of any specific person. No information contained in the Content constitutes, or should be construed as, a recommendation, offer or solicitation by Tangerine to buy, hold or sell any security, financial product or instrument discussed therein or to follow any particular investment or financial strategy. In making your financial and investment decisions, you will consult with and rely upon your own advisors and will seek your own professional advice regarding the appropriateness of implementing strategies before taking action. Any information, data, opinions, views, advice, recommendations or other content provided by any third party are solely those of such third party and not of Tangerine Bank or its affiliates, and Tangerine Bank and its affiliates accept no liability in respect thereof and do not guarantee the accuracy or reliability of any information in the third party Content. Any information contained in the Content, including information related to interest rates, market conditions, tax rules, and other investment factors, is subject to change without notice, and neither Tangerine Bank nor its affiliates are responsible for updating this information.
Tangerine Investment Funds are managed by Tangerine Investment Management Inc. and are only available by opening an Investment Fund Account with Tangerine Investment Funds Limited. These firms are wholly owned subsidiaries of Tangerine Bank. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.