Being a responsible adult when it comes to money will reward you in the long run. You can safely say that your future is quite secure. Your savings and investments will help you afford a big-ticket purchase eventually. And you have become disciplined.
You might have been fighting off your urges and the temptations to buy something expensive, such as shoes and bags. You think that getting them will become a sign of immaturity irresponsibility. But tell yourself this: buy them. It’s not wrong to splurge on yourself every once in a while. But you have to do it wisely.
You deserve it, and it’s your money, anyway! Nevertheless, here are some pointers for responsible splurging:
Stay within your budget!
Splurging does not mean blowing everything that you have on one item. It just means that you have some leeway for getting what tickles your fancy. And be realistic; you need to set a specific amount for splurging – unless you have been saving for a particular item in mind. At this point, you can define what splurging is for you. It could be that luxury bracelet for sale online, or it could be that fancy dinner with friends at a five-star hotel. Define it, so you will be able to know how much you are going to save and spend.
Create a separate savings account
If you have been preparing for a specific splurge item, it would be wise to set aside a separate savings account or piggy bank for it. That way, such a significant expenditure will not be taken from your primary savings account. It would also help if you named that account or piggy bank. It could be that trip to Paris, a premium leather handbag from Dior, or that collector’s item action figure. When you name your savings account, you will be much more inspired to save up.
Find more ways to set aside more money
While on the topic of saving money, you can find more ways to make more or save more. For one, you can ditch your restaurant lunches at work; instead, bring a brown bag and set aside that lunch money for your splurge item. If you realize that you have a lot of free time in your hands, you have the option to find a gig so that you will earn extra cash.
Find great deals
This might sound counterintuitive, and you might think that finding a great deal defeats the purpose of splurging. But it is not at all. A premium leather handbag on sale is still that premium leather handbag that had the initial price tag. Nothing has changed; just the item.
Don’t feel guilty!
If the last time that you have splurged is already ages ago, there might be some twinge of guilt. And it’s normal. However, you have to understand that splurging is also suitable for gratifying and rewarding yourself. Just remind yourself that it is what you deserve after all the hard work you have done.