Believe it or not, you can maintain a budget and still treat yourself. And better yet, spending money on yourself does not necessarily mean taking on consumer debt. Find out why and how to avoid more debt while still having some fun.
How to Treat Yourself and Avoid Consumer Debt
Depending on your own financial inclinations, treating yourself can sound fantastic or really scary. If you like to spend money and be more spontaneous, then this is probably music to your ears. If you are a mega saver, then you may not relish in the idea of “frivolous” purchases. In the middle of these two perspectives is a positive and controlled way to spend some money on yourself without stumbling into consumer debt.
Budgeting for Fun
A budget is not only for essential expenses like food and shelter; it’s also the perfect place for fun! That’s right- budgeting can lead to fun. Including categories for things like dining out or a general “Treat Yourself!” fund is the right way to incorporate fun responsibly.
To include this into your budget, first make sure that all your other fixed expenses are covered. These fun ones should be the last categories that receive attention.
Consider your overall financial goals as well while budgeting. If you have a lot of credit card debt, you may only have $30 a month to spend.
Ways to Control Your Spending
Spending a little on yourself will allow enough breathing room to hopefully avoid shopping sprees or compulsive shopping and breaking the budget. Instead of blowing the budget on a whim, you have money designated for a purchase here and there. No consumer debt will result if you follow your budget.
One way to make sure you stay on track is to use cash. Take the money to treat yourself out each month and only use that cash. This way you can avoid credit card debt from your purchases.
If this is a new idea for you, try it in next month’s budget. It may take some adjustment, but treating yourself is a great financial release that can help you maintain a strong budget.
To speak to a credit counselor today about credit management and managing your debt, call 800-769-3571.