Does spending money make you feel bad? Read this comic

13 hours ago 4

Ever regretted spending too much on dinner? Or ashamed about not being able to give a family member more financial support?

There's a term for this feeling, says certified financial planner Lauryn Williams: financial guilt. And it can hold you back from taking steps to fix your finances — or enjoying the money you do have.

Narratives like "I should have known better" or "I shouldn't be in this situation" don't help, she says. "They don't allow you to move forward because you feel so guilty."

Williams, the founder of the financial planning firm Worth Winning, shares three kinds of financial guilt and how to address them.

This comic was reported by Marielle Segarra and written and illustrated by Abi Inman.

Illustrated patron balancing two dollar signs on a carrying pole.>>

Patron sitting at a group dinner. A waiter is bringing them the check.>>

…TERRIBLE?
<<Image: Patron receives check, which is now an anthropomorphized Bill >>

<<Image: Patron looking queasy, thought bubble with text in a spiral. Bill looking on, concerned. looks visibly shaken by expensive receipt and begins to spiral.>>

What do I value? And set aside money for those things.
<<image: Patron working on a budget spreadsheet on the computer.>>

Yes! Spend more here!
<<Image: Traveling, movies with your friends, sessions with your cat psychic!>>

No! Spend less here!
<<Image: Clothes you’ll wear for a week, bougie dinners 3x a month, the subscription juice cleanse your coworker is trying!>>

You’ll feel more financially prepared and less guilty about spending on what matters to you, she says.

Couple looking happy and connected. Bill in the corner with interjection.>>

First ask yourself where the guilt is coming from, Williams says.

Who do you feel financially obligated to? Are you in a position to help them? What can you reasonably offer?

Feeling bad for spending money on yourself instead of those in need
<<Image: Person overthinking about their mom.>>

Then, make a plan. Decide how much you want to give them, and be clear with yourself about what the limits are.

Maybe it’s a set sum that you’re sending your mom every month, a recurring donation to a cause that’s important to you, or a contribution to your nephew’s future college fund.
<<Image: Person writing out a budget plan on paper.>>

Bill and Patron walking off into the sunset.>>

The comic was edited by Malaka Gharib and CJ Riculan. The producer of the episode is Clare Marie Schneider. We'd love to hear from you. Leave us a voicemail at 202-216-9823, or email us at [email protected].

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