Counting The Cost

Instead of Blowing It

I woke up this morning wondering if Dude counted the cost of his actions this past weekend, or if it was more of a spur-of-the-moment type of move. Which, let’s be honest, the majority of us make those kinds of decisions regularly. Thank God an entire country isn’t affected by it.

But focusing on what we can control, how many of us make decisions based on our current emotions without putting much thought into them? There’s a sense of security in knowing that random or impulsive moves today aren’t going to drastically ruin our lives later.

But what if they actually did?

What if every little financial decision you make today directly affects where you are financially five years and even twenty years from now? I’d like to think that spending $100 a week eating out isn’t doing much to my pockets, but then I realize I’m spending $26,000 over five years and $104,000 over twenty years just on takeout, fast food, and random dinners. This doesn’t even include groceries that may or may not get thrown out or celebratory outings at least once a month. Unfortunately, $26k in five years is not a reach, so I had to decide whether I want to continue blowing $100 a week on junk or make a weekly transfer to my IRA account that guarantees instead of blowing $26k in five years, I’ve saved it.

Counting the cost is how you determine whether or not a purchase is actually worth it. Not just in the moment, but overall. How much is this really costing me? My retirement? Peace of mind? Financial stability? What do my spending habits say about my relationship with myself and with God? Am I stewarding my blessings or just blowing them away? Does this purchase bring me closer to or further from my goals?

I’ve been in the mood for a good money-saving challenge, and with today’s climate, there’s no better time than now. When I say "good," I mean habit-building, motivating, and challenging, something that leaves you feeling accomplished during and after.

So, how does it work? And most importantly, what are the rewards?

‘Counting The Cost’ Challenge

Involves redirecting the money you would’ve spent on non-essentials into a HYSA to track how much you can save when you're being intentional.

This is a 21-day challenge. The objective is to take back control over where and how you spend your funds, especially when driven by emotions or impulsive actions. Counting the Cost requires you to check yourself and reflect before you wreck yourself into a hole of regret, stress, and consumer debt.

Here are daily steps to ensure you’re Counting the Cost:

Whether you have a monthly budget or not, the first step is knowing exactly how much money you bring home and how much your essential expenses are on a monthly basis. Any dollars you have remaining are what we call discretionary dollars, free money if you will. These are the dollars we’ll monitor closely because this is what we tend to use for random or convenient purchases: the quick $10 bodega run or random Target stop. Those free dollars you spend without worrying about bills or obligations.

We’re counting the cost of those purchases by transferring them into a HYSA (High-Yield Savings Account) the moment you think about spending them on something else. This can occur daily or weekly.

Here’s an example of how it works: Yesterday, I was craving Velvet Taco—the $7 cup of queso, to be exact. Now, if I’m willing to pay $7 for a cup of queso, I have free money. I have to decide whether to give in to this craving or transfer that $7 to my HYSA and do this consistently for the next 21 days. $7 may not seem like much in the moment, but tomorrow it’ll be $13 at Cava, and the day after, it’ll be Thai food for $15. Next thing I know, I’m three days into the week and have already spent $35 on just lunch. Let’s hope I cooked dinner, or that amount doubles.

Counting the Cost means counting everything this one purchase connects to: What percentage of your free money did this one craving take? How much discretionary money do you have left? Are you spending more than this on interest payments? Did this move you closer to or further from your monthly savings goal?

When doing a challenge like this, the most important daily habit to break is the “it’s only” thought. “It’s only $7.” There is no such thing as “it’s only.” It’s only leaving your bank account and never coming back—unless, of course, you immediately transfer that money into your HYSA. Not only is it still there, but you get to watch it grow and see what you would have spent had you not been more intentional.

---

The good news is that there is no set goal or dollar amount to hit! The objective is to see exactly how much discretionary, spare change we tend to throw away on random splurges or cravings. Being this intentional with my spending has created healthy money habits and allowed me to do four things so far this year:

• Consistently pay tithes

• Lower my debt by almost 70%

• Set automatic transfers to my HYSA and IRA

• Update my 401(k) contributions to 10%

I’ve always been able to save here and there and make the minimum debt payments, but since the funds were being spent before I could even make a plan, it was less likely to grow the way I needed. The way I look at it is, I have 35 years to retire. I can either continue to blow $100k on junk over the next 26 years, or I can have that amount plus more in my retirement accounts, ready to use or pass down.

Someone could argue that tomorrow isn’t promised, so why work so hard and save so much just to not be able to use it? My answer would be simple: Every day is about having faith. I have faith that when I leave my home, I will make it to work safely—even that short commute isn’t promised, but I will do what I have to and believe God has my back. If I choose not to go to work because of what could happen, then I’m simply taking away from myself. Not only am I not getting paid that day, but I am jeopardizing my job.

That’s how I look at saving and investing for my future. I could just live for today and not steward my blessings, but what happens when God allows me to see 20 more years? I’m still in the same financial boat at 50 that I was at 30—all because I didn’t think I’d make it that far.

For me, saving and investing is more about being intentional and being a steward than anything else. There are many ways we can honor God. I have made it a priority to honor Him even in the way I manage my finances, and that alone has blessed me more. It’s about building discipline, obedience, and faith. If a comfortable retirement and passing down wealth come with that, it’s a win for me.

♡

If you're truly up for this 21-day challenge, join my chat below! This is where I'll hold myself accountable, and you if you'd like, while sharing how I've counted the cost of random purchases I was about to make.