{"id":58834,"date":"2024-06-12T18:49:34","date_gmt":"2024-06-12T22:49:34","guid":{"rendered":"https:\/\/www.iwillteachyoutoberich.com\/?p=58834"},"modified":"2025-04-28T08:21:12","modified_gmt":"2025-04-28T12:21:12","slug":"money-dials","status":"publish","type":"post","link":"https:\/\/www.iwillteachyoutoberich.com\/money-dials\/","title":{"rendered":"Money Dials: How You Spend & Why (Expert advice on spending)"},"content":{"rendered":"\t\t
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I always say, \u201cShow me a person\u2019s calendar, and I\u2019ll show you their priorities.\u201d<\/span><\/p>\n

Well, I have a newer version of that: Show me a person\u2019s <\/span>spending<\/strong><\/span><\/i><\/a>, and I can show you what they love.<\/span><\/p>\n

I spent years talking to people about their spending habits, and I boiled them down to 10 \u201cMoney Dials.\u201d They\u2019re called Money Dials because you can \u201ctune\u201d them up or down\u2014just like a dial.<\/span><\/p>\n

If you were to look at someone else\u2019s spending for 10 minutes, you would instantly know what their Money Dial was. And if I were to look at your spending, I could tell you what yours is. Money Dials allow you to understand why people make the choices they do and then go deeper than you ever thought possible.<\/span><\/p>\n

I find Money Dials fascinating for several reasons: People go where their time and money go. For example, fit people spend time and money to be fit. Fashionable people spend time and money reading fashion magazines and shopping.<\/span><\/p>\n

The most fascinating part is when we\u2019re misaligned. For example, some people say, \u201cFamily is #1,\u201d but if you look at their calendars and spending, the family is not even in the top 10.<\/span><\/p>\n

Money Dials are an easy way to diagnose what you claim is important vs. what is actually important. In a nutshell, your money dials are the things that you are willing to spend extravagantly on by cutting back mercilessly on the things you don\u2019t care about. They\u2019re a necessary part of living your Rich Life. Here\u2019s why I told The Guardian<\/em><\/a> that EVERYONE should be able to live their Rich Life.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Every one of us has an area that we naturally love to spend money on. I\u2019ve identified 10 Money Dials that we LOVE to pour our money into.\u00a0<\/p>\n

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If you look at your own spending, what gets you excited?\u00a0<\/p>\n

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  1. Convenience<\/a><\/li>\n
  2. Travel<\/a><\/li>\n
  3. Health \/ fitness<\/a><\/li>\n
  4. Experiences<\/a><\/li>\n
  5. Freedom<\/a><\/li>\n
  6. Relationships<\/a><\/li>\n
  7. Generosity<\/a><\/li>\n
  8. Luxury<\/a><\/li>\n
  9. Social status<\/a><\/li>\n
  10. Self-improvement<\/a><\/li>\n<\/ol>\n

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    If you had $25,000 to spend on any of the above, which would you put your money into? Your answer\u2014the one you instinctively came to within seconds\u2014is likely your #1 Money Dial.<\/span><\/p>\n

    Knowing your Money Dial can transform the way you think about your spending because it lets you understand what you spend money on and why. It enables you to redirect your spending from other areas to spend <\/span>extravagantly<\/span><\/i> on your Money Dial. THIS is what true <\/span>Conscious Spending<\/a><\/strong> looks like.<\/span><\/p>\n

    Money Dials are the evolution of Conscious Spending and zoom in on the concept of spending extravagantly\u2014guilt-free.<\/span><\/p>\n

    Below, I\u2019m going to show you examples of people with different Money Dials.\u00a0<\/span><\/p>\n

    But the common theme is that whatever Money Dial a person chooses, they can <\/span>build a life that allows them to spend extravagantly and unapologetically<\/a><\/strong> on the things that truly matter to them but also cut costs mercilessly on the things that don\u2019t matter to them.<\/span><\/p>\n

    This is the power of Money Dials.<\/span><\/p>\n

    My favorite part of Money Dials is that once you understand your own, and you accept it, you can zoom in on what you love by TURNING THE DIAL ALL THE WAY UP.<\/span><\/p>\n

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    Finding your own Money Dials<\/h2>\n

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    To find your Money Dials, you just have to ask yourself one question: What do you LOVE to spend money on?<\/span><\/p>\n

    That can be a deeply uncomfortable question to ask. It can actually be a little scary. Our culture and society love to demonize spending, especially when it comes to spending on ourselves. It comes with <\/span>guilt, shame, and judgment<\/strong>.<\/span><\/a>\u00a0<\/span><\/p>\n

    Don\u2019t believe me? Here are some comments I\u2019ve received on my <\/span>blog posts about spending<\/a>:<\/strong> <\/p>\n

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    What a judgmental reaction\u2014as if it\u2019s forbidden and downright evil to spend on the things you love (and have the means to purchase).<\/span><\/p>\n

    But what if we took these same judgmental people and examined their spending for a month? I bet I\u2019d be able to find areas in their lives where others would think they\u2019re \u201cwasting\u201d their money too.<\/span><\/p>\n

    It\u2019s OK to recognize that you have areas you naturally love and <\/span>want<\/span><\/i> to spend on. What others think of your spending doesn\u2019t matter because everyone has different Money Dials. It\u2019s simply a matter of different priorities! In other words, what you value will be different from what others value.<\/span><\/p>\n

    If you LOVE to spend your money on <\/span>week-long trips<\/a><\/strong> to exotic locales, but someone else would rather spend that same amount of money on having the latest iPhone, that\u2019s great\u2014<\/span>and<\/span><\/i> perfectly normal!<\/span><\/p>\n

    It\u2019s just being true to and honest with ourselves about what our Money Dials are.<\/span><\/p>\n

    In fact, when we\u2019re honest about acknowledging our Money Dials, we can adjust the dial as we need to be moderate or <\/span>turn them all the way up<\/span><\/i> to spend even more on the things that bring us joy and more pleasant experiences (think splurging on first-class tickets instead of economy <\/span>all the time<\/span><\/i>, for example).<\/span><\/p>\n

    This is crucial psychologically.<\/span><\/p>\n

    Not only will we have more money and energy to spend on the things that bring us happiness, but we\u2019ll also be able to spend on those things <\/span>guilt-free<\/span><\/i> since we know we\u2019ve freed up the money by ignoring everything else.<\/span><\/p>\n

    It\u2019s intimidating and liberating at the same time. It allows us to say, \u201cHey, this is important to me\u2014and that\u2019s not.\u201d<\/span><\/p>\n

    The most successful people I\u2019ve met are all very conscious of how they spend their money. That doesn\u2019t mean they don\u2019t spend at all. It means that they choose HOW and WHERE to spend their money and are unapologetic in allocating significant resources to <\/span>live a better life<\/a><\/strong>.<\/span><\/p>\n

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    10 most common Money Dials<\/h2>\n

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    I want you to take a look at the ten most common Money Dials. As you read, take note of how they fit into your spending habits.<\/p>\n

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    Here are the categories again:\u00a0<\/p>\n

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    1. Convenience<\/li>\n
    2. Travel<\/li>\n
    3. Health \/ fitness<\/li>\n
    4. Experiences<\/li>\n
    5. Freedom<\/li>\n
    6. Relationships<\/li>\n
    7. Generosity<\/li>\n
    8. Luxury<\/li>\n
    9. Social status<\/li>\n
    10. Self-improvement<\/li>\n<\/ol>\n

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      Money Dial #1: Convenience<\/h3>\n

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      This Money Dial means spending on anything that makes your life more convenient.<\/p>\n

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      Examples:<\/p>\n

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