Welcome to this week's newsletter! ~
I just got back from some time off work and social media. I love that I built a life where I can actually take a break and things will not fall apart when I do.
My family and I went to Florida, we took the kids to Disneyworld and Peppa Pig Theme Park and we spent the weekend with our favorite people in a big house at Evermore Resort.
We take trips every year and splurge on this memory-making events because one of the things that I value is "quality time w/ my quality people".
The other day, I was listening to a podcast and the concept of aligning your financial goals with YOUR VALUES came up. One of the hosts mentioned that he values money.. but then, as the conversation went on, it's pretty evident that when people say they value money, there's typically a deeper reason or deeper value behind that.. and that
"WHY" is what they truly value.
It could be comfort, could be security or time freedom.
So, whenever you think of your financial goals, it's also so important to think of WHAT YOU VALUE. Because only when your goals align w/ what you really value is when you achieve financial success.
This is why I want to talk about Value-Based Spending in this newsletter.
What Is Value-Based Spending?
Value-based spending is the idea that you should spend your money intentionally, prioritizing the things that truly matter to you. Itâs about understanding your values and aligning your spending habits with them, rather than mindlessly spending on things that donât bring long-term happiness or fulfillment.
I fully believe that money is meant to be spent. Thinking and shifting my spending based on this perspective has definitely changed how I approach money. Instead of feeling guilty for spending on things I enjoy or depriving myself of experiences, I now focus on making sure every dollar I spend brings value to my life. And this mindset has helped me create a more intentional and fulfilling financial life.
Why Value-Based Spending Matters for You
As nurses, we work hard for every dollar we earn. Itâs easy to fall into the trap of âtreating ourselvesâ after a tough shift or spending impulsively to make up for the stress of the job. But over time, these habits can lead to financial stress and a feeling of never being in control of our money.
Hereâs why I believe value-based spending is particularly powerful for nurses:
- Prioritizing What Matters Most: Whether itâs spending quality time with family, investing in your own health and well-being, or pursuing education to advance your career, value-based spending helps you direct your money toward the things that enrich your life.
- Avoiding Burnout Through Financial Freedom: When we spend mindlessly, we often feel the need to work overtime or pick up extra shifts just to make up for it. By spending intentionally, youâll have more control over your finances and avoid the cycle of working extra hours just to maintain your lifestyle.
- Creating a Sustainable Financial Future: Nurses are often caught between wanting to enjoy life now and planning for retirement. Value-based spending allows you to do both by cutting out unnecessary expenses and focusing on what really matters, leaving more room for saving and investing for the future.
What are your values?!
Here is a list of some core values.
Reply back to this email with 3 values that resonate with you.
To read more on how you can spend intentionally: READ THIS BLOG POST
Stock Market News
- NVIDA $279 Million wipe out -Lost $278.9 billion in market value, the biggest one-day loss ever. The company stipp is up +120.49% year-to-date, the largest gain of any company with a market cap above $30 billion. Another reason for NVIDA stock selloff is that Nvidia has been subpoenaed by the U.S. Department of Justice in an antitrust investigation
- September Effect is in effect - Stocks are typically down at this time of the year. One posits that traders, returning to work from summer vacations, rebalance portfolios in September, increasing selling volume and putting pressure on stock prices.
- Dollar Tree shares plummeted 20% following a disappointing earnings report and lower guidance for the remainder of 2024.
- U.S. job openings dropped to 7.67 million in July, marking the lowest level since early 2021. This decline is seen as a sign of a cooling labor market, with potential implications for Federal Reserve policy as the central bank monitors economic conditions closely
Quote of the week
"And once the storm is over, you won't remember how you made it through, how you managed to survive. You won't even be sure whether the storm is really over. But one thing is certain. When you come out of the storm, you won't be the same person who walked in. That's what this storm's all about."
Source: Kafka on the Shore
As i sit writing this newsletter, I think about the challenges I faced in my life and how it has shaped me now. the beauty of life is the transformation we go through in the different seasons.
Have a great week ahead!
Ellaine
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