October is financial planning month. You’re probably preparing your budget for the New Year and ensuring you keep your spending in check before the holiday season. However, what about rewarding yourself for focusing on your savings goals all year long? You deserve a reward for all of that hard work! There are plenty of ways to TREAT yourself while maintaining your savings goals.
Plan your splurge. Take stock of what you really need or want and set your splurge budget carefully. Impulse buys are usually regretted. The last thing you want to do is blow your budget when rewarding yourself for being fiscally responsible!
Rank Your Wish List
Create a wishlist then rank the items by need or cost. Prioritizing purchases can help you make sure you really want or need something. Some say there is just as much excitement in the anticipation as the purchase itself.
Experiences Over Stuff
Invest in experiences rather than stuff. The memories will last much longer than any item you can purchase. Treating yourself to a day of pampering is an excellent reward. Whether you sleep in, spend time reading a book, watch a favorite movie, or indulge in a DIY spa treatment, you’re bound to feel relaxed.
Spending quality time with friends and family is one of the best ways to decompress. Research group discounts for new productions at community theaters in your area. Be smart when dining out. Since dinner is often the most expensive meal of the day, try going out for breakfast instead!
There are always plenty of free ways to take some time to yourself to recharge and relax. Take a walk on the beach, listen to a concert in the park, get up early for the local farmers market, register for a free class at a grocery, craft, or home improvement store, or finally go to the new exhibit at the museum!
Always Use Your Perks
Remember to take advantage of employer perks, store loyalty programs, and credit card rewards. To get the most bang for your buck, download store apps and watch for coupons and promo codes for the items on your wishlist. Consider signing up for text or email alerts from a few key stores or websites as well.
Think Outside the Box
Think of all the little things you deny yourself when you’re focused on your savings goals. A little treat once in a while can feel like a big splurge! Grab specialty coffee beans or a nice bouquet of flowers during your trip to the grocery. Have your car washed instead of doing it yourself this week! Signing up for a short-term subscription service could be a fun little extravagance too. Options range from movies to beer and coffee to makeup and skincare.
There are many ways to reward yourself for a job well-done and remain in control of the budget. In fact, occasional rewards can actually motivate you to push harder towards your savings goals. Just remember that Savvy Savers are more likely to enjoy the splurge when you plan ahead and make wise purchase decisions.