It’s Okay to Splurge With Your Money
If performed wisely, “splurging” with your money will help keep you sane, happy, and believe it or not, financially disciplined. This may seem like somewhat of a paradox, but I will show you a method of spending that allows you to maintain all of the aforementioned qualities, while also keeping your budget in tact.
Splurge, but Splurge with Discipline
Every once in awhile you will get that urge to just go out and spend money; for some it happens more often than for others. My advice to you is to fight that urge to run wild, and instead be disciplined in your efforts. If you must splurge, direct your money only to your most meaningful material goods. This helps you remain passionate about these items and prevents you from, well, truly “splurging.”
Let’s do an exercise to show you what I’m talking about. Take a couple minutes to think of the top 5 material goods that you value the most. Write them down if you have to. When you’re ready, keep reading.
If you had no trouble thinking of 5 things, you definitely need to budget your life. I bet you spent most of your time deliberating what got that final fifth spot. Well it doesn’t matter anymore—slash the bottom two off the list, leaving you with only three. Here’s my list:
- Electronics
- Sports Equipment
- Cars
To be honest I had trouble just coming up with three. These three goods represent the items that you should spend a little extra money on when you want to splurge. Ignore the rest of the items that didn’t make the cut. Keep your list short, simple, and valuable. By maintaining this discipline, you are not just splurging, but instead spending extra money on the causes that boost your happiness the most.
Keep Your Money Close, and Your Passions Closer
Even the most frugal people will have a couple material goods they place a high value on—these items should not be compromised because of money, because once you lose your passion for them, you lose sight of what makes you happy.
The last issue is where this money will be coming from. If you already have a budget it should be easy for you to see where your extra funds lie. If not, GET A BUDGET! And if you have a budget and still can’t see how much you’ll be saving by the end of the year, or don’t know where you are underspending, I highly recommend using BudgeX as your personal finance tool. Once you have this process locked down, you won’t ever have to second guess yourself when thinking about impulse shopping. May the force be with you!
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