By Frank Brand

The largest part of retirement planning has been whether or not you saved enough to last for the rest of your life. There is a whole financial industry that has developed over the last fifty years to help you save and invest for your retirement life. If you spend much time reading about retirement on the Internet or other through other media, you will quickly learn that baby boomers are financially unprepared for their retirement. There is a whole other aspect of the financial equation has to do with spending. Becoming a conscious consumer may help your save your retirement.

To many baby boomers, success was having it all; whatever we wanted, whenever we wanted it. We came of age in the one of the most prosperous times in the history of civilization. It was naturally assumed that life would just keep getting better and better. Everyone could have a mansion on the hill, and all the toys they desire. That didn’t happen. Many people are rethinking their retirement plans. But instead of just focusing on how much is coming in, you can also look at how much is going out.

Have you ever thought about how you spend your money? Are you a conscious spender or like many people, make purchases on impulse? Do you ask yourself questions when you are about to make purchase?

Do you ask, “Why am I buying this?” Does this purchase help you meet your long-term goals. Will it make your life happier or better?

Would making a purchase now, prevent you from buying something better later?

Are there other options for acquiring this? For example, if you want to buy a book, could you get it from the library.

This process isn’t designed to deprive you of what you want. Quite the contrary. It’s designed to help you have what your truly want in life. Instead of buying a latte every day, you may want to save the $3.50 and buy a fabulous dinner once a week.

The point is to think about what you purchase. Evaluate and decide what is really important to you. By becoming a conscious consumer, you may not have it all, but you can have what you want, and that’s all that matters.