As we close out Black History Month and reflect on the whirlwind of events shaping our world, one truth remains: I want to remind you that we CAN choose joy and luxury– no matter what the economy, the price of eggs, the pundits, or the fear-mongers are saying.
Luxury is a Mindset, Not Just a Price Tag. PERIOD.
We just have to be intentional with our money and really get in touch with our values. (If you’re feeling stumped about your values, I do deep into this on Day 12 of heal your relationship with money, if you need support.)
So here’s my approach to inviting mini-luxuries into your life as part of my HEALED Framework- my signature life and money framework for intentional and joyous living and experiences.
Step 1: Understand Your Why Start by reflecting on why certain luxuries or indulgences matter to you. Whether it’s a spa day, a gourmet coffee habit, or a monthly subscription box, identifying the emotional or personal connection to these luxuries is crucial. Understanding your “why” ensures you’re not just spending on impulse but rather making intentional choices that align with what brings you joy.
And here’s the rub with your “why”: sometimes it shifts and changes as you respond to what’s happening internally and externally. I know for me, treating myself monthly to a nice meal was really important to me. Now??? I rather spend my money on skincare products, a pedicure, a nice piece of jewelry (I’m into statement rings now), and massages. How do I know? I started paying attention to how I felt after eating out vs. how I felt when I felt after experiencing or purchasing something I really wanted and saw there was a difference.
Step 2: Create a Values-Based Budget A values-based budget shifts the focus from cutting everything out to prioritizing the things you truly care about. Run the numbers to get clear on how much your chosen frugal luxury costs. Then, adjust for frequency—maybe you don’t need that luxury every week but every other week instead. This approach helps you indulge without guilt because your spending is aligned with your personal values.
Step 3: Identify Fixed Wants and Alternatives Review the fixed wants in your budget—these are things that you enjoy but may not value as much as the luxury you want to prioritize. For example, if you pay for cable but rarely watch TV, consider switching to a cheaper streaming service or cutting the service entirely. By finding alternatives or reducing the cost of some fixed wants, you free up funds to redirect toward the luxuries you care most about.
Step 4: Identify Redundancies and Streamline Costs Sometimes we don’t realize we’re paying for things that no longer serve us or that overlap. Comb through your budget for redundancies—like multiple subscriptions or overlapping services. Streamlining these costs allows you to allocate more money to what really matters. For instance, canceling unused gym memberships could free up funds for that monthly massage you enjoy.
By making these adjustments, you can indulge in the mini aka frugal luxuries that enrich your life without sacrificing your financial goals. It’s about shifting your budget to focus on what truly brings value and joy to your life.
P.S. Life is all about intentionality and figuring out what’s important to you and being unapologetic about it.
So what about you, First-Gen Abundance Creators, what’s the mini luxury that you’re intentionally spending on? I’d love to hear.
Have you grabbed your copy of 9 Steps to Building Black Wealth?
