Read any financial column or blog and chances are the writers (including yours truly) have advocated that readers save their income, reduce expenses and get rid of debt. Sometimes this valuable information can get interpreted as you can never spend any money on yourself for little things here and there such as a meal out or grabbing a movie with a friend.
These little things can help keep you on track for your bigger savings targets by allowing you a bit of autonomy and a chance to enjoy the money you’re working hard to earn and save.
Think of it this way: let’s say someone is going on a diet and they absolutely refuse to eat any type of sweet, junk food or anything that would keep them from getting to the proper fitness level or weight they are looking to achieve.
What can (and usually does) happen is by denying themselves even the smallest little treat or dessert they eventually cave in and break their diet and binge eat on sweets, junk food, etc., often ending in a worse situation than they started.
The same can happen if we deprive ourselves the pleasure spending a little something because we want to. If we deprive ourselves too long, we can binge spend and completely lose sight of our goals or worse, be tempted to swipe the credit card to make up for the deprivation.
Now, this isn’t a green light to simply spend, it’s more of a cautionary yellow that says it’s ok, but don’t spend out of control.
Sterling Raskie, MSFS, CFP®, ChFC®
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And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.
Now, this isn’t a green light to simply spend, it’s more of a cautionary yellow that says it’s ok, but don’t spend out of control.
“all work and no play makes Jack a dull boy…”One must learn to “reward one’s self.