This is a blog based on saving money, so it might seem odd that this post is about spending. Of course, nobody can continuously save money for the rest of their life; it’s not healthy. Sure, having a nest egg is sensible and will come in handy down the line, but it’s important to blow off steam too. As long as you don’t overindulge and blow your entire budget, there isn’t anything wrong with spending now and again.
Still, even when you know this, it’s not rare to feel remorse. The good news is you can eradicate it by remembering the following.
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It’s An Essential Purchase
You can break purchases down into sections, and one of them is necessities. Certain products and services are essentials as you need them to make your life easier. From a car to household utensils, they can cost a small amount or a lot but it doesn’t matter if they are worth it in the long run. Also, don’t forget that spending more is an opportunity to save too. Splashing out on good quality clothes, for example, will stop you from paying extra in the short-term. After all, they don’t wear away as fast thanks to the materials and craftsmanship.
Another area to consider an essential purchase is your physical and mental health. You should never put off your physical or mental health. A great resource to help you stay at the peak of your mental health game is Regain.us and their online therapy and counseling services.
Not Every Penny Is Earmarked
A saving myth is that you need to find a home for every penny. That way, there is no wastage. Well, sometimes there isn’t any necessity to stockpile cash even if it adds to your savings. Once you hit an amount, there should be enough for a rainy day no matter the weather. In that case, it’s best to use the extra money to spend it on something you will enjoy so that you boost you and your family’s lifestyle. Cash takes a lot of effort to earn, which is why you should blow off steam once in a while. Otherwise, stress will build and your health will suffer.
Nothing Is For Certain
Everything you have saved is for something. Whether it’s a bill or a debt or a loan, you will have planned it out in advance so that all the bases are covered. Unfortunately, you don’t need to be a personal injury attorney to know that an accident could be around the corner and that the money is obsolete. While you shouldn’t be stupid with your funds, it’s important to factor in that anything can happen. Once you think of it on this level, spending feels less guilty. Plus, if the worst happens, a good lawyer should recoup the money with a settlement.
You’re Doing Well
One purchase isn’t a reason to feel guilty if you are sensible most of the time. Beating yourself up about indulgences is only a good move when you miss budget targets and saving goals. Otherwise, it’s a way to beat yourself up over nothing. Take a look around and analyze your funds before you begin to throw shade. Working on your spending isn’t just about savings goals, its about setting personal goals as well.
Sometimes, it’s crucial to spend money, but only when you have the extra cash to splurge.