When Oprah Winfrey speaks, you listen.
According to estimates from Forbes, Oprah has a $2.5 billion net worth, and she has a word of advice that may change how you approach your spending habits.
The beloved memory was soon followed by years of regret. Oprah revealed the couple collected credit card debt that was nearing $50,000, which did not include an additional $9,000 allocated for a wedding ring purchased from the husband’s 401k account.
“Though they’d only been married for nine months, their relationship was already buckling beneath the weight of a gigantic bill,” Winfrey detailed via her website.
She continued: “They’d charged most of their beach wedding in Mexico, paying for hotel rooms and spa treatments for some of their guests, lobster and filet mignon for the wedding dinner, and an open bar. On the other side of this blessed event were credit card statements for almost $50,000.”
Oprah may have a billion-dollar fortune, but that doesn’t exclude her from being knowledgeable about what the couple experienced. Regardless of one’s status, extraneous spending habits can lead you to experience buyer’s remorse.
“Even now, in the unimaginable position of being able to buy anything I want in doubles and triples, I try to remain grounded. Another yellow sweater is going to make me feel…what? If the answer is ‘nothing,’ I’ll put it back or decide to get it for someone whose day it will brighten,” Winfrey detailed.
Winfrey believes the true power that should be at the forefront of how you spend your money lies within being “mindful.” This can also be practiced while still putting your dollars toward purchases that bring happiness to you and others.
“I hope the way you spend your money is in line with the truth of who you are and what you care about,” Winfrey wrote. “I hope that your money brings joy to you and the ones you love. And I hope you use it as a powerful force for good to fulfill your best intentions.”