From Everyday Spending to Intentional Living

​How many days of the week do you spend money? Every day, three times a week, or one day a week? U.S. Bureau of Labor Statistics data found that the average American spends about $164.55 per day on essentials and discretionary items (housing, food, insurance, transportation, entertainment, etc.) when you break total annual spending into daily units. Did you know the average all-inclusive vacation with airfare sits between $150–$300 a day, and a cruise could be as little as $100 a day?

So what are we really spending all that money on? If we can be more intentional about our spending, we can start to use the excess to do more fun things or grow our wealth. But where does that money come from? First, we’ll start with a quick exercise. Tally how many days you spend money using your cards and bank accounts. This will not include your living expenses—housing, transportation, or utilities. Is it feasible to cut that spending, and by how much? What would be the financial impact?

Intentional spending is not about limiting what you spend, but understanding that it needs to serve a purpose. When presented with the option of gifts or experiences, I’d choose experiences with my family all day. This means that when I’m looking at gadgets and gizmos aplenty, they don’t mean as much to me. When you find the intentionality behind your spending—not to keep up with the Joneses—you find more joy in what you have. That’s truly living from a place of abundance instead of scarcity.

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