jamuna lifestyle desk: As exciting as this idea can be, splurging too often isn’t a good idea. With all of life’s obstacles, challenges and temptations, it’s up to us to resist them. The only way to avoid giving in to the urge to splurge is to be an intentional spender.
Such people think about how they spend, where to spend, and how much to spend before leaving home.
When it comes to spending, there are many ways to fight the urge to splurge.
1. Budget for splurges, but keep them small
Rather than going for an impeccable budget, leave room in it for indulgences. Small splurges are obviously preferable over enormous ones, since they’re less expensive. So, somebody who eats at expensive restaurants two or three times a month may hit the sub shop and go for dessert once a week.
2. Invest in experiences
You don’t have to spend your money on acquiring material possessions. Rather, invest your money in experiences and memories that can last forever, like a fun family get-away or a day trip with your friends. The happiness and satisfaction you gain from a vacation or day off can last a long time, particularly if it’s a day spent on relaxation or with your friends and family.
3. Spend on others or your future self
When you spend money on yourself, you might feel guilty later. But, something like taking your best friend out to lunch or buying them a small gift they’d never get for themselves can help you feel happy as well. Also, if you have an important event coming up, spend a little on things you need for that event.
4. Check your finances and save when you splurge
Always do a financial checkup before going overboard. Remind yourself what that money is for. Spending money is alright. However you shouldn’t spend too much at the expense of paying fundamental bills such as electricity, water or rent. Just keep a small notebook with you and make a note of what you bought and how much you spent.
5.Understand your spending triggers
Knowing your spending trigger is critical to breaking the urge to spend. Some normal spending triggers are loneliness, dissatisfaction, sadness, stress, and anger. Sometimes, people feel constrained to spend because everyone else around them is doing it. Settle on a decision not to pine for what other individuals have and settle on spending decisions based upon your own needs.