Why do you spend a lot of money?

People who spent money on experiences rather than on material goods were happier because the excitement we often get from purchasing things tends to diminish quickly as we get used to them and start taking them for granted.

This is not a healthy sign. If you prefer to save money rather than spend it, you will be in a better financial position for yourself and your future.

Spending money helps you feel like an adult, which is appealing if you are young. When you are an adult, spending money is frequently an emotional rather than a practical or reasonable decision—think of shopping as a sport or therapy, for example. "That's not a dress, that's an emotional money blunder," Suze Orman says in one of her TV commercials.

Spending money on yourself or others feels powerful, whether it is for something simple like a coffee shop latte or something large like a new car or house. You have turned back the clock (which most of us have done).

There's nothing wrong with spending money on items you desire and need, but do yourself a favor and keep a spending diary for a few weeks, or inventory the purchases you've made over the past few months, or years, if you've been spending money for a while. Did you make use of all you purchased? Do you recall why you bought some items if you did not utilize them? Did you buy them to give yourself that "I'm an adult now" jolt? "I'm a collector," or "It looked like a wonderful idea at the time, but it's now just taking up room," are two options.

I loved going to the mall. I was free to buy whatever I wanted (within reason). I also bought a lot of stuff I did not need or even use, such as books that sat on a shelf unread, clothes that were only worn once or twice, and so on. I still do it now and then, as do almost all of us, but I am much better about it than I used to be. In addition, I despise shopping now; unless I am purchasing gifts for the holidays, it feels like the worst waste of time ever.

 Spend money, but spend it wisely. You save money, so you spend it more carefully. Purchase memories that will last a lifetime, such as a trip to a place you have always wanted to see, with someone you care about, or dinner with loved ones at a good restaurant. Individuals deserve special presents. Don't buy everything you want; otherwise, none of it will be one-of-a-kind.Invest in fantastic memories or items that will be appreciated or, at the very least, provide value since they were used and cared for, rather than those that are worthless because they were underused. Buying something that collects dust and subsequently gets sold on eBay or at a yard sale for ten cents on the dollar was never a beneficial buy at any stage in its life cycle, including the meaningless rush of adrenaline you felt from getting it, and the fewer of them you make, the better.

That is the best spending advice I can give: do it carefully, without emotion, and wisely, and you will be fine.