Are you spending on what matters most to you? How to do a 'values audit'

SALT LAKE CITY — We budget by category all the time: groceries, gas, entertainment. But how often do we stop and ask if that spending actually lines up with what matters most to us?

Financial expert Amanda Christensen, with USU Extension, said a quick "values audit" can change how you spend for good.

Start With Your Core Values

Before looking at any bank statements, Christensen said you need to identify what you actually value.

"Most people haven't ever really written down their financial values," she explained.

Examples of Financial Values

• Security
• Experiences
• Generosity
• Freedom
• Family
• Convenience

Once you've identified your financial values, you need to compare them to your spending reality.

The Values Audit

Christensen said to start with pulling up the previous month's spending and evaluating it honestly.

" 'Do these purchases reflect those values?' And if they do or don't, there's some things we can do," she explained.

Looking at your spending, you will probably see a gap between what you spend money on and what you actually value spending money on. Christensen shared one of the gaps she noticed when she did a values audit.

"I noticed I was spending a lot on convenience spending," she said. " That was a result of being tired or unprepared."

Once she noticed that gap, she was able to come up with a solution.

"If I pivot and just spend a little more time being intentional about preparing meals or, you know, planning," she said, " when I audit next month ... I would be able to know, that helped me close that gap because I was aware of where my spending was going."

Shift From a Budget Question to a Values Question

Christensen emphasized that this exercise changes the conversation around spending.

"We often catch ourselves saying we can't afford this or that," she explained. " That's fine to frame our spending and what we can afford, certainly. But maybe more intentionally asking, does this align with my values?"

Changing the question you ask yourself helps you make an intentional choice. Instead of seeing every purchase through the lens of affordability, you start thinking more about whether the purchase supports what matters most to you. Sometimes that means choosing not to spend money on something you can technically afford because it doesn't align with your priorities. Other times, it may mean choosing to spend money on something important because it does.

"You may even be able to afford something, and you may say no, because that is actually not what I value more than this," Christensen explained.

A values audit helps you get really clear about why you're making certain choices. Instead of feeling guilty for every dollar you spend, you can make intentional decisions that are consistent with your priorities.

Find more advice from Amanda Christensen on Instagram, @utahmoneymatters.

This story was adapted from a TV broadcast script using artificial intelligence. Every story, including those adapted with AI, is reviewed by a human editor before publication to ensure that KSL's editorial standards are upheld.