Aspirational Spending - Connecting Dreams and Reality to Spend Less and Enjoy More

Last week, I wrote about dreaming big and starting small. Now let’s focus on another aspect of dreams and spending: aspirations.

Aspirations are marvelous tools for driving actions, habits, and goals. Unfulfilled aspirations, however, can be costly.

I have ADHD and a voracious hunger for self-improvement. So aspirations are kind of my jam. Starting new things, hyper focusing and obsessing, and then stopping midway when the dopamine runs out. That’s my whole life right there. Unfinished DIY projects, unopened 1500-piece puzzles, and unused exercise equipment are riddled throughout my home, serving as continual sources of shame from the broken promises and wasted cash.

I studied marketing for my undergrad degree, and the most fascinating course to me was Consumer Behavior. The class overviewed the psychology of spending, examining the influences affecting purchasing behaviors. The concept in that study that hit home for me the most was aspirational spending — investing money in items or experiences that align with the activities we desire to value, even if they don't necessarily reflect our reality.

Aspirational spending is alluring on two fronts. 1) Owning possessions associated with an ideal lifestyle or interest, and 2) the instant gratification that comes with making a purchase. Whether it's expensive fitness gear for a gym routine that never happens or high-end cooking appliances for a culinary enthusiasm that remains unexplored, aspirational spending can create a divide between our intentions and our actions. And between us and our money.

We all want to be better versions of ourselves — engaging in fulfilling hobbies, maintaining a healthier lifestyle, or embodying the sophistication associated with luxury products. Advertisers skillfully tap into these aspirations, presenting products as the key to a more fulfilling life rather than the actions themselves.

Then the pretreated wood for the DIY bookcase gathers dust in the garage, the gourmet kitchen gadgets remain untouched, and the stylish workout attire spends more time in the closet than at the gym. (Me: check, check, check)

Aspirational spending is a paradox — the pursuit of self-improvement through material purchases that seldom translate into actual lifestyle changes.

Through years of accumulating items that consume space in my home (the hobby graveyard), I’ve felt this paradox first hand multiple times. Through studying this behavioral pattern in myself, I’ve learned to navigate the pitfalls of aspirational spending through self awareness, small step planning, and creating guidelines to follow. And if you identify, you certainly can too.

Self Awareness

Distinguish between genuine passions and fleeting interests. When you spot that treadmill on sale and think “Oooh if I had that I’d start walking. Add to cart,” try instead pausing and asking yourself “Is this purchase in line with my actual activities, or is it a momentary desire sparked by external influences (like $100 off)?” Sit with it. You might still make the purchase. But now you’re more aware of why.

Small Actionable Steps

If you aspire to be more active, start with a daily walk or run in your neighborhood before investing in an expensive home gym setup. Monitor your progress and interest through a simple journal or step tracker app. Start small to gauge your passion and commitment.

Set Guidelines

Over the last three years, I’ve learned knitting is a hobby that I absolutely love. And most importantly it fits into my lifestyle. But I don’t need (and can’t afford) an entire room dedicated to the craft. After accidentally accumulating more yarn than I can consume in literal years, I created a rule for myself to help curb the temptation to buy even more yarn. My rule is this: One out, one in — I can only buy a new ball of yarn when I’ve used up one I already have. It’s a single decision that’s simple and maintainable. And it works for me. Find a guideline that works for you.

Ultimately, the key is to close the gap between aspirations and reality. While it's tempting to believe that owning certain items will automatically transform our lives, true fulfillment often comes from the journey rather than the stuff.

So tell me… What’s YOUR aspirational spending story? Do you have a hobby graveyard like me, or do you spend on other aspirations?