First, you must become aware of what your own values truly are. Begin by asking yourself some very basic questions: What matters to you? Is it your family and friends? Your job? Your health and physical fitness? Your faith? Of all of these, where does money fall into the picture?  The vast majority of people will answer that their relationships—not their money—are the most important factors in their lives. Realizing that the biggest components to your personal wellbeing are not monetary is an important first step to leading a richer, fuller life.

            By answering these questions, you can find the fast track to what you really want. You can be happy, even if the money isn’t rolling in like it once did. If spending time with your family and friends is what brings you joy, figure out ways to do it for less money. Devote your time with family and friends to doing creative projects or to volunteering together. Spending time with the people you love doesn’t need to make a big dent in your pocketbook.

            At the same time, a smaller paycheck doesn’t mean you must forgo all luxuries. If you want to be wise about your spending choices, make sure you take into account (no pun intended) all factors, including your wellbeing. A gym membership, for example, is an excellent investment (may we suggest your local elements club?), even while we are trying to cut down expenses. Promoting your physical health will benefit your mental health, as well. Exercise is a great outlet for anxiety and can help you keep your balance through stressful financial times.

            The key to finding that balance is prioritizing. Yes, you can buy all the things you want, as long as you determine their importance relative to your own values. The next time you find yourself tempted to indulge in a session of retail therapy, ask yourself how another purchase will help you lead a life you value. On the other hand, if you cherish your annual vacation because it is a chance to spend time with your family or friends, do make it your priority. Create some personal financial benchmarks and be positive about your priorities. It is far better to say, “I will choose to spend my money on the things that are most important to me” rather than, “I can’t afford it.” If you give yourself the power to make your financial choices, luxuries don’t have to be a farfetched dream.