Life is full of contradictions. When you’re young and broke, you dream about all the things you’ll buy once you make it big. You picture yourself driving fancy cars, living in luxury apartments, and eating at the best restaurants. But as you start making more money, something unexpected happens—you begin to value money differently.
We all know that the way we spend our money changes as our income grows. But more importantly, as you accumulate wealth, you start focusing on principles rather than just the things money can buy. These principles guide how you spend, save, and invest your wealth.
In this blog post, I’ll share six key principles that have changed the way I think about money. Each one has a story behind it—a lesson learned, a perspective gained, or a realization that reshaped my relationship with spending. Ready to dive in? Let’s go.
1. Value Over Price: The Tale of the Two Watches
I remember when I first got my big break and started earning more than I ever had. My first instinct? Buy a luxury watch. I walked into a high-end store, picked out the flashiest one, and dropped a ridiculous amount of money on it. I walked out feeling like I was on top of the world.
But here’s the twist: a few months later, I was wearing my old, inexpensive watch. Why? Because, as beautiful as the luxury watch was, it didn’t serve me any better than the one I’d been using for years. In fact, it felt heavy, fragile, and frankly, impractical for everyday use.
That’s when I learned the first principle: Value over price. It’s not about how expensive something is; it’s about the value it brings to your life. Now, when I spend money, I ask myself: Does this add real value, or is it just for show?
2. Invest in Experiences, Not Just Things: The Trip That Changed It All
A friend of mine once asked, “If you had to choose between a year of traveling the world or a luxury car, what would you pick?”
At that time, I was knee-deep in my materialistic phase, so of course, I answered, “The car.” But that same friend convinced me to join him on a backpacking trip across Europe. It wasn’t luxurious—we stayed in hostels, took public transport, and ate street food. But the experience was priceless.
When I got back, the car was still in the dealership, but I had something much more valuable: memories. That trip changed me. I realized that experiences have a lasting impact, while things tend to lose their shine over time.
Now, I make it a point to invest in experiences—traveling, learning new skills, or simply spending quality time with loved ones. These are the things that shape your life and your character. That’s the second principle: Life is made of experiences, not possessions.
3. Buy for the Long-Term: The Story of the Shoes That Wouldn’t Quit
Here’s a lesson in patience. When I was younger, I was always tempted by sales. If something was 50% off, I felt like I had to buy it—whether I needed it or not. As a result, my closet was full of cheap, trendy clothes that barely lasted a season.
One day, I decided to invest in a good pair of shoes—high quality, but pricey. It felt like a lot of money upfront, but those shoes lasted me five years. Every time I wore them, I was reminded of the value of quality over quantity.
Now, when I spend money, I think long-term. Whether it’s clothes, gadgets, or even relationships—investing in something (or someone) that will last is always better than a short-term fix.
4. Time is Money: The Day I Paid Someone to Cut My Grass
Here’s an embarrassing story: I used to think that doing everything myself was the best way to save money. I’d spend hours mowing my lawn, cleaning my house, and fixing small things around the house. It felt good to get things done—but it was also exhausting.
One day, while I was sweating through another round of lawn mowing, I had a thought: What if my time is worth more than this? That’s when I started paying someone else to do the lawn work. With the time I saved, I was able to focus on growing my business—and the return on that time investment far exceeded the cost of the lawn service.
The fourth principle is simple but life-changing: Your time is valuable. Sometimes, spending money to free up your time is the wisest investment you can make.
5. Give Generously: The Coffee Shop Revelation
I was at a coffee shop one morning when I overheard a conversation between two young women sitting next to me. One of them was going through a tough time—she had lost her job, couldn’t pay rent, and was feeling completely lost. As I listened, I felt a pull to help, but I hesitated. Would it be weird to jump into a conversation and offer money?
Finally, I decided to buy their coffees and slip a gift card to the one in need. I didn’t expect much in return—I just wanted to help. A few weeks later, I ran into her again. She recognized me immediately and shared how that small gesture gave her hope during one of her darkest times.
The fifth principle is this: Give generously when you can. As you grow richer, you have the power to impact others in meaningful ways. Whether it’s money, time, or resources—generosity is an investment in humanity. It’s a reminder that wealth isn’t just about accumulation; it’s about creating a positive ripple in the world.
6. Debt is a Trap: The Credit Card Nightmare
I’ve seen too many people fall into the debt trap, and I almost did too. Early in my career, I got my first credit card and thought, “Free money!” I started swiping it for everything, from dinners to gadgets I didn’t need. By the end of the year, I was drowning in credit card debt.
That’s when I realized: Debt is a trap. The more you borrow, the more you owe, and the harder it becomes to grow your wealth. From that day on, I made a commitment to live debt-free. I started paying off my credit cards every month, avoiding loans I didn’t need, and sticking to a budget that prioritized savings.
The final principle is simple: Avoid debt whenever possible. If you can’t afford it now, wait until you can. Debt is like quicksand—easy to step into, but incredibly hard to get out of.
Conclusion: Spend Wisely, Live Richly
As you get richer, your relationship with money changes. It’s no longer about buying the fanciest things or flaunting wealth. It’s about making intentional choices that align with your values and long-term goals.
These six principles have shaped how I spend my money:
- Value over price—it’s not about how much something costs, but what it brings to your life.
- Invest in experiences—the memories and personal growth will outlast any material item.
- Buy for the long-term—quality over quantity is always a winning strategy.
- Your time is valuable—spend money to free up your time, and use that time wisely.
- Give generously—true wealth comes from what you give, not just what you get.
- Avoid debt—debt is a trap that can hold you back from financial freedom.
Wealth is about more than just money—it’s about the choices you make and the life you build. So, the next time you open your wallet, think about these principles. Spend wisely, and you’ll live richly in every sense of the word.
