You read that right…I bought my new bike on credit. Yup, even a Money Coach does this.

The last bike I bought was used, that was in 1998. I have put many a kilometer on that bike and in the spring of 2020, at the height of the pandemic, it broke down.

Little did I know that when I ordered my new bike it would take two years for it to arrive.

Like my local bike shop, many entrepreneurs I work with have been challenged by disruptions to their businesses as a result of COVID.

From staff shortages to supply chain interruptions, it hasn’t been easy.

The uncertainty of the past few years has left a lot of us afraid to “splurge” on things we really want or maybe feel guilty spending on emotional purchases like vacations or self- care.

This is exactly the predicament I found myself in when my bike arrived, and my savings had been used for a family ski vacation.

What is a Money Coach who encourages her clients to save for such purchases do?

The same thing I ask my clients to do. Run this purchase through your value meter.

My value meter includes family, community, and health.

Here is how my bike purchase stacked up to my values.

✅Biking is an activity that my whole family enjoys.

✅Biking has a low environmental impact and is good for the planet.

✅We bought the bike from a local retailer

✅Biking gets me outdoors and moving my body

✅Biking gives me joy.

✅My husband always laughs at my ear-to-ear grin when I get on a bike

✅I will use this bike for 25 years like my last one (and then maybe switch to an e-bike)

✅After 2 years of waiting for this bike, I still wanted it

✅I have a plan to pay for it

So, although it was an emotional buying decision, I made a conscious decision to make this purchase today and not let it put my tomorrows in jeopardy.

I was still able to stay within my weekly spending plan, still saving money for retirement and my girl’s education. Still can afford the additional debt payment.

This is what it means to be a conscious spender.

So how about you. What’s the last big purchase that you made? Was it a conscious one or a mindless one? Hit reply and tell me about it. (I’m NOT judging either way!)

Yours in Good financial Health,

PS If you’re an entrepreneur who wants more clarity and ease (yup it doesn’t have to feel so hard) around your finances. I’d love to help! Click here to book a time to chat with me.

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