Mo Money Mo Problem$

1. Does anyone else miss when Diddy went by Puff Daddy?

2. They say money doesn't buy happiness. I agree.

Case in point: in 2014, my annual gross income was the highest, and my life satisfaction was at its lowest. I was dissatisfied with work, unhappy living through my 28th winter, and itching to change both.

I've been thinking about this a lot lately, especially as it relates to debt, material possessions, and spending habits.

Debt.
My goal after graduating from nursing school in 2009 was to pay off my loans by my 30th birthday. I calculated how much my monthly payments needed to be, made a budget, and stuck to it. I used this spreadsheet from the Trees Full of Money blog to help me visualize the financial journey and followed the Dave Ramsey's Seven Baby Steps in his Debt Snowball Plan.

No, I didn't have to survive on Ramen, deprive myself of fun, or completely deplete my savings. I lived in an awesome apartment in Philly and took trips to Costa Rica, the Dominican Republic, and Europe. I also continued to contribute to my savings and investment accounts.

Changes in my personal life led me back home with my family for the year of 2014. Because my living expenses were drastically reduced during this time, I figured out I could pay off my loans two years sooner than my original 30th birthday goal. I paid them off last May, exactly 5 years and 1 day after nursing school graduation!

Paying student loans wasn't fun, but it also taught me an important lesson: debt doesn't have to be a part of my life. I don't have to buy a brand new car and have monthly payments, or buy a home I can't afford and sign myself up for a 30 year mortgage. When it was time to say goodbye to my beloved 2003 Chevrolet Cavalier, Ginger, I said hello to Lily, a 2011 Subaru Legacy (with less than 17,00 miles!) and was able to pay for her in full!

Things.
Possessions don't make me happy; experiences do. I limited myself to bringing four large Tupperware and a small carry-on for my travel assignment. Upon arrival, I had to buy a few items that I didn't realize I'd need. Overall, I don't miss what I didn't bring - I actually can't even remember most of the things I didn't bring. I don't feel like I'm living without; I actually feel free. I've found that the more things I have the more cluttered I feel.

I don't like (read: dread) clothes shopping and don't have expensive taste, so that works in my favor. I choose to spend my money on travel and trying new restaurants. I wouldn't dream of paying $250 for a designer outfit, but I don't mind paying that for a round trip plane ticket.

Valuation of your money should be personal. If spending $250 on a designer outfit makes you happy, d-o-i-t! If you're only doing it because you feel like you should, you'll end up regretting the purchase when you get your credit card bill.

Mega Millions.
If I were to win the lottery, I wouldn't change my spending habits. When I fantasize about what I'd do with Mega Millions winnings, it mostly involves getting family members and friends out of debt and getting homeless people off of the streets, into a home, and set up with a job. Once you realize, however, that you don't need $34 million dollars to do something that matters, you feel empowered to start small. Sure, having a large sum of money would allow me to help more people and do it quickly, but I'd skip the creative process of finding a solution and miss out on meeting inspiring people along the way.

__________________________

Money should create freedom, not foster unmanageable spending habits. I'm selective about how I spend money, and because of that, I don't feel strapped down to material things that I don't need. When I do find myself fixated on my checking account balance and wishing it was larger, I remind myself that I'm living debt free and doing all of the things I want to do. My goals are for this year are to go, earn, learn, give, and lift. Being a "fabulously wealthy baller" isn't on there (it doesn't flow, anyway).

My advice: figure out what makes you happy. Spend your money and time on that.