“The price of anything is the amount of life you exchange for it.” —Henry David Thoreau
If you want to become more intentional with your spending, here’s a truth that is helpful to keep in mind:
Whenever we buy something, we’re deciding that it’s worth more than anything else we could have used that money for.
You see, we only get to spend our money once. And every time we make a purchase, we have less money for something else.
Sure, we can always make more money, but that doesn’t change the reality that we can never re-spend the dollars we just spent.
So it would be wise for us to make sure the items we purchase are more valuable than the things we are turning down.
Now, before I continue, I should mention that this isn’t a post about thrift or frugality. I am not about to argue that we should stop spending money altogether. Just the contrary.
This post is about recognizing the choices we make with our money and re-examining the values we’re living by every time we make a purchase—whether it be $10, $100, or $10,000.
We’re not just buying things with our money; we’re making decisions about what we value most.
This simple realization can change how we approach our finances and, in turn, our life.
As Henry David Thoreau once said, “The price of anything is the amount of life you exchange for it.”
And this truth applies to not just the dollars spent or the time that we gave up to earn the money in the first place. It also applies to the “other thing” we could have spent our money on. Because every time we make a purchase, we have less money for something else.
Every unplanned clothing purchase and every non-essential kitchen gadget eats into our financial capacity to explore, learn, and give.
Every new tech gadget or bathroom upgrade means less money for family trips that create lifelong memories, less money for tackling debts, or less money for supporting causes we care about.
Every small little purchase on Amazon that we “click to ship” means fewer dollars left over for that girl’s trip, spontaneously planned by our friends, that we hadn’t saved enough money to afford.
This is not an article to guilt anybody into changing their habits. Instead, it’s an invitation to be mindful about where our money goes, to make sure our purchases reflect our true selves and values.
Turning the tide of spending can ripple into an ocean of change, and with increased intentionality, we can be the initiators of that change.
What if we chose not to buy an unnecessary item and instead used that money to contribute to a cause, invest in an experience, or assist someone in need?
The joy from a new purchase always fades, but the fulfillment from these other choices can last a lifetime. Rarely is an unneeded item, added to our already-full homes, worth more than the opportunity we let slip by.
So, before your next purchase, ask yourself:
Is this item really worth more than the something else I am passing up?
When we start to consider all the possible better purchases, we’re doing more than managing our finances. We’re saying ‘yes’ to the potential of our money to bring us closer to the life we desire—not one filled with possessions, but with experiences, growth, and impact.
Jeffrey Pillow says
One of the most valuable purchases if I’ve ever made is an annual pass to Shenandoah National Park, which is pretty much in my backyard. It costs $80 a year and you can’t get those views anywhere else in the state. Peaks, valleys, waterfalls, just endless opportunities to hike and nature watch.
We’ve made some amazing family memories there.
I could have easily spent $80 on a slew of things (shoes, gadgets on Amazon, etc.) just for myself, but I’d never get the same value as that park pass.
Cynthia Jolly says
Thank you Joshua. You were able to put into clear words a philosophy I’ve used for years. When my adult children moved far away, I used the idea of mentally adding whatever I was about to spend to my airfare fund. That made me think about actually what I wanted more. Of course the airfare usually won. I have a similar fitness goal. My body needs to be strong enough to lift my luggage into the overhead bin. I’m proud to say that I will be flying to see my daughter and her college age son soon. After that I will be taking my high school graduate granddaughter to Europe during fall break.
My mindful spending habits and fitness goals have helped me be successful in my goals.
Debbie says
Joshua, you wrote an amazing article that really hits home, thank you! There is so much truth in this article! Thanks for revealing how we can be more intentional with trimming down our spending so we can make more intentional decisions with the money we have. Like working on an emergency savings and helping a ministry or helping others in need. Please keep up the great work! Much appreciated, thank you!!
Jerilynn says
Thank you for this “non-guilt” reminder! Timely!
John P. Weiss says
Setting one’s spending priorities straight is key. A lot of folks fall victim to impulse spending, or they convince themselves they have to have something. But once bought, the new thing begins to lose its luster.
John Bednarcik says
So true!
John Bednarcik says
Well said Josh! One cannot buy time, no matter how rich you are. Our family is trying to prioritize experiences over buying “things”, and more toys for the kids. I remember some awesome toys I had as a kid but I’ll never forget the many memories of incredible trips and places my parents took us on!
Cindy Umeki says
You are amazing! Thank you for this article. It touched my heart. Impulse/ emotional purchases is a problem.
I’m adding your words to my daily values reminder list.
Cathy Hutchison says
I loved this reminder. Thank you for sending to my inbox. It was well timed.
Diane M. says
Many of us need to be more mindful of where & how we spend. I know I do! This article made me think of my young adult kids who sometimes buy the unnecessary thing anyway, just for fun, or on impulse, with zero thought that it might mean something else can’t be purchased; they purchase the something else anyway. They seem to have no consciousness of “either/or.” So they buy it all. And then they get into financial hardship. Two of them have said to me, “I need to make more money.” That’s true but that isn’t the root of the problem. In some cases it takes a financial crisis to wake people up. I’m thankful for this course and for all the reminders and support. I know I definitely need it :) And I think I’ll share some of these articles with my kids as encouragement and without judgment.
Jimmy G. says
Excellent reminder! Think before you spend. Thanks!
Anna says
I like the perspective your opening lines give “Whenever we buy something, we’re deciding that it’s worth more than anything else we could have used that money for.
You see, we only get to spend our money once.” Suddenly priorities come into focus. As do the items we buy that we could easily do without -squandering other opportunities. Thank you Joshua for this perspective.
Nancy Murphy says
Amazing article! Thank you for sharing this perspective!