My Bad Money Habit

Yes it’s true.  I’m a financial planner and I have a bad money habit. Can you believe it?  The truth is I don’t always practice what I preach, actually I should say that I don’t always believe in what the bank wants me to tell clients.  Yes, that’s how I should say it.

So what do you think it is?  You know I used to be in a lot of debt, do you think I fell back into my old habits?  I never really mention any vices here, do you think I’m about to confess to an extreme addiction, a la Rob Ford (he’s Canadian too)?  Or maybe I spend my money carelessly on a lifestyle fetish such as latex, do you think that could be it?

It’s no secret

I’m sure the suspense is killing you.  No I didn’t fall back into my old debt habits, no I don’t have a drug dependence and no I’m not into anything relatively close to 50 Shades of Grey – or so I’ve heard because I haven’t actually seen the movie or read the book.  I spend money.

Yes that’s it.  I preach everyday about the importance of saving money for your short term goals and for your future and I don’t even do it, well at least not as much as I should.  What do I do with my money?  I spend it.  That’s my deep dark financial secret, I spend money, more than I should…and I don’t care.  Does that make me a hypocrite?

I know I shouldn’t do it

Some may say yes.  However I don’t see it that way.  In my life from 9 to 5 I tell clients to spend what they need to and save all the rest because it’s very very important to save for your future.  That’s my professional life.  In my real life I like to enjoy my money.  I live in an apartment that costs more than I should be paying for rent, I like to eat out because it’s better than anything I can cook and I like to travel as often as possible.  I spend money, so what?  It’s mine and I can spend it if I want to, right?

Well some people would say no.  Some would say it’s irresponsible to spend money that doesn’t need to be spent if I could otherwise save it.  Trust me I agree.  I think it’s a good idea to save money and the more we can afford to save the better.  I just don’t take my own advice.  I don’t stay awake at night wishing I could change my habits and save more money, I sleep just fine.  What does that say about me?

But I’m OK with it

I think it says for now I’m enjoying my money.  I lived at a bare minimum for many years as I was paying off my debt.  Now for the first time I can spend like I used to without getting into debt (because now I have the money to spend) and it’s very liberating.  I feel that for the moment I’ve achieved financial freedom because I can spend as I want to without restrictions for the fear of getting back into debt and you know what? I like it.

I’m sure this is just a phase and I won’t always be spending money, but for now this is just how it is.

Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.