In some areas of life, having high standards will propel you forward and help you achieve your goals. For example, holding yourself to a high standard at work usually leads to career advancement and raises. But sometimes perfectionistic tendencies can hold you back and cost you money and time. Here are 3 instances in which lowering my standards improved my finances.
Letting Go of an All-or-Nothing Savings Mentality
When it came to money management, I used to have a bit of an all-or-nothing mentality. I was hard on myself when I didn’t meet my savings goals, which wasn’t the most balanced way to approach finances. The stress I put on myself after making a mistake could often lead to more emotional impulse purchases.
I felt like I’d ruined my financial plans whenever I made a mistake, which was very demotivating. This punishing mindset made me feel like giving up and sometimes led to more YOLO purchases. I found myself caught in a bit of a binge and restricted cycle when it came to spending.
To overcome this, I had to let go of my perfectionism around money. I had to accept that sometimes I might go over my budget and had to learn to be okay with that. I realized that life happens and I may fall off the wagon occasionally and make an impulse purchase. After all, I’m only human!
Instead of beating myself up about it, I practice self-compassion and forgive myself. This allows me to move on from the mistake quickly and focus on getting back on track rather than ruminating on my error. Now I don’t feel tempted to throw the baby out with the bath water and abandon my financial plans because I go easier on myself.
If you’re an all-or-nothing saver too, remember that it’s better to save something than nothing. Even if you can only afford to save $50 or $100 per week right now, that’s still a good start. As your income increases and you get into the habit of saving, you can increase the amount you set aside every month.
Accepting a Lower Homemaking Standard
Growing up, the house was always spotless because my mom was a homemaker for the majority of my childhood. My mom also loved to bake and decorate for the seasons. She took a lot of pride in caring for our home and kinkeeping, so I felt like I had big shoes to fill when I moved out and established my household.
However, running a household was a lot harder than I’d imagined. Even though I only had a 700-square-foot apartment, it was tough to keep it as clean as my childhood home, especially after my partner moved in. Instead of accepting a lower standard of cleanliness, we hired a cleaner for a while. But when we started saving for a house, we decided to cut out this unnecessary expense, so I picked up the slack again.
Having such high cleaning standards took valuable time away from my freelance writing business. Since my earning potential is directly tied to how many hours I work, I would’ve been better off investing my time cleaning into my business. Over the years I’ve relaxed my standards in this area and accepted that things won’t be spotless all the time.
I’ve realized having some hair in the shower and dishes in the sink is normal. Households where both partners work just won’t be as clean as ones with a full-time homemaker, and that’s okay. My wallet is much happier now that I don’t feel the need to hire a cleaner or cut back on work hours to maintain a perfect, magazine-ready home.
I’ve also wasted a lot of money over the years on specialized cleaning products and tools. Walking down the cleaning aisle and seeing all the types of products can be overwhelming. I used to think I needed a dozen different cleaning agents to get my house spotless. But the reality is you only need an all-purpose spray for most messes.
The same goes for cleaning tools. TikTok will try to sell you cleaning brushes with rotating heads, steam cleaning machines, robot vacuums, and more. However, I’ve learned that I can keep the house pretty tidy with just a vacuum and a mop, which has helped me save money and avoid cluttering my home with unnecessary gadgets.
Getting Over the Desire to Have the Best of Everything
I grew up in a very brand-conscious household. We shopped at Whole Foods and always had designer clothing and the latest tech. My parents also loved to travel and indulge in fine dining. Now I know that we lived way beyond our means and should’ve maintained a much more frugal lifestyle. But as a young adult, I’m embarrassed to say I thought all of this was normal.
It took me some time to lower my standards from champagne and caviar to beer and pretzels. When I traveled, I still wanted to stay in higher-end hotels because I thought budget options would be poorly maintained.
I shopped at Whole Foods for a while because I believed the produce would be low-quality at normal grocery stores. When I finally made the switch to a more budget-friendly supermarket (like Albertsons), I wondered why I hadn’t done it sooner. Everything tasted fine and I saved money.
I had to sever the connection in my mind between quality and brand names. Cheaper products still work just as well—all they’re missing is the unnecessary social status. But I had to learn that through experience after my admittedly spoiled upbringing. I’m pretty low-maintenance and would happily choose a car camping trip over a fancy international vacation.
Wrapping Up
Do you have high standards? How have your expectations and mindset impacted your finances? Share your thoughts in the comments!
Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.