When you work hard, you like to think that you’re entitled to treat yourself every once in awhile. But between bills, the car and the house, where does it come from? Learning how to treat yourself is an art form. And it’s essential if you want to be a healthier, happier you. So how can you treat yourself without the feeling of guilt afterwards? And how can you make room financially for enjoying the occasional splurge?
It’s not as difficult as you might suspect. With some simple financial planning, you can set aside money each month that goes directly into the ‘you fund.’ You do deserve it, after all. The first step is to figure out where the money is coming from. Maybe you are waiting on a tax refund. Perhaps you’ve worked overtime this month, and you feel it’s only fair that you spoil yourself for all your hard work.
You shouldn’t have to feel guilty about spending money. It’s what you’ve earned yourself, and what’s the point if you can’t see the fruits of your labour? As long as the bills are paid, the rest is yours to do whatever you want with it. You need to get rid of the mindset that spending your money is somehow a bad thing. Of course, you have to be sensible. Maybe that tax refund does go towards paying off some of the mortgage. But keeping a little aside makes all the hard work worth it.
Work out your financial situation in great detail. Analyze every incoming and outgoing. Once you know what you’ve got coming in and going out, you can decide what happens to the rest. Make a budget for food shopping, paying for petrol and anything else you need. How much do you have left? Around 7% of your monthly income should go directly towards buying the things that make you happy. It’s important not to feel deprived.
Once you’ve begun setting money aside, it’s time to make another decision. Do you treat yourself to a handful of little things every month, or let your ‘you fund’ build up? Keeping your expendable cash in a separate account removes the temptation to dip into it. Before you know it, you’ll have enough those new shoes you’ve had your eyes on. Or the handbag that’s been singing your name. Or even those late night moments when you find yourself looking at watches for women online. You don’t need to repress the urge to impulse buy if you have the money available.
Maybe you’re not obsessed with material goods. Good on you, I wish that were the case for me, too. In this instance, the money you put aside can be put towards vacations or day trips. You may find that spending your money on ‘memories’ makes you happier in the long run. And it can have a great impact on your home life, bringing your family closer together. Whatever you choose to spend your money on, it’s important to spoil yourself once in awhile. Because if you don’t, who will?
Disclaimer: This is a contributed post.