Is Your Spending Aligned With Your Values?
Yesterday I stopped by my local food co-operative. Because I only needed a few things, I stepped into the express check-out lane.
When she was done scanning, the cashier looked at the subtotal, then at me, and asked, “Is this right?”
It was. I had less than ten items on the counter, yet I owed $115. Groceries may have skyrocketed, but I also buy expensive groceries.
I walked out with half a gallon of raw milk, a quart of raw milk yogurt, a half a gallon of maple syrup, three packages of organic chicken tenders, and two cans of organic coconut water.
Laughing at my big ticket items, I shared with the cashier the concept of values-based spending, and that wellness is one of my values.
What’s values-based spending?
I learned this concept from Tori Dunlap’s “The Financial Feminist.” According to her blog, “Values-based spending means you spend your money on what brings you joy—and only what brings you joy.”
Meaning after you’ve paid your necessary expenses and contributed to your financial goals, such as retirement and savings, the money that’s left over should be spent according to your values.
Dunlap advises narrowing this spending down to three categories.
My Value Categories
1. Wellness
Wellness is my top category because I believe that health is imperative for living a joyful life. And staying well now saves on medical bills later.
To me, health includes stable energy levels, a balanced nervous system, strength, good cardio capacity, mobility, and quality nutrition.
My wellness spending includes high-quality groceries, a few supplements, my fitness membership, non-toxic cleaning products, and the occasional chiropractic adjustment, visits with a functional medicine practitioner, massage, sauna, and facial.
This category also encompasses the wellness of my husband and our two cats.
2. Self-Sufficiency
My husband, Shelby can do a lot of things. An engineer by day, he’s also our mechanic, carpenter, plumber, landscaper, plow guy, IT department, Mr. Fix-it, etc.
The one task we’ve hired out was cleaning the furnace. Shelby does everything else.
I take care of the inside. Being that wellness is my top category, I spend a lot of time cooking from scratch. I’m also the maid, accountant, calendar keeper, and caretaker of the cats and plants.
I’m working towards having a garden, chickens, and bees so we can further increase our self-sufficiency - and save money!
Shelby and I both value independence. Not only for the money-saving aspect, we appreciate the security of knowing that if anything wild happens, we’ll be ok.
Our self-sufficiency spending includes tools, kitchen equipment, gardening materials, and eventually, we’ll invest in solar panels and a more sustainable way of heating our house. I also consider our retirement and health savings account (HSA) contributions part of this category, even though Dunlap categorizes them as a financial goal. I value being able to retire without having to worry about money.
Benefits You Can Get Through Your Business (including retirement!) →
Where Do You Want to Be in 50 Years? →
3. Travel
Shelby and I love exploring, and we travel really well together. Unfortunately, our first two value categories have left little leftover for travel, but we’ve started saving for a trip to Europe to celebrate our tenth wedding anniversary coming up in Fall 2026.
While we appreciate frugality, we’re not into traveling on the cheap. We value a quality experience and would rather save for nicer vacation than go on multiple subpar trips.
Finding Your Value Categories
Dunlap suggests asking yourself what purchases you’ve loved and when the last time was that you were happy spending money.
She also notes that your categories can be broad (“wellness”) or specific (“self-care”). Visit her blog post for more insight and a list of common categories.
Curb Your Non-Value Spending
When I shared with the Co-op cashier that I don’t bat an eye at my grocery bill, I elaborated that I’m stingy with dining out. This balances my food spending.
Others, like Dunlap, value dining out, so they spend more on this category but likely less on groceries than I do.
She shares a quote from money expert Paula Pant, “You can afford almost anything. You just can’t afford everything.”
How Values-Based Spending Applies to Your Business
By ensuring your discretionary income is primarily spent on your values and by being mindful of your spending as a whole, you likely won’t need to earn as much money. This frees up pressure on your business.
But you can also apply values-based spending to your business. Audit your expenses to ensure they align with your business’ needs and values. Your profit, after taxes and owner’s draws, should be applied to an emergency fund and then divvied between your business values.
These can include upgrading to quality equipment, joining masterminds, enrolling in continuing education courses, investing in employee wellbeing, etc.
Discover how to structure your business based on your values. →
Need help narrowing in on your values, ideal day, and business vision? Enroll in Self-Employed School! This self-guided online course will also help you determine what you should hire out or do yourself.
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Hey there! I’m Meg:
LOVER OF CATS, ROLLER SKATING, AND VW BUGS
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