Most of us have heard that if we want to have more money, we need to spend less. While it’s important to skimp and save for our future life dreams, or a rainy day, it’s also possible to spend less, have more, and still fully enjoy!
Let us explain …
You’ve probably heard the common budgeting advice — “if you made your coffee at home instead of buying a fancy latte every day, you’d save thousands in just one year!”
But what if you love — like, seriously, love — coffee? What if an expertly-prepared, artisan latte helps you jump out of bed in anticipation of that first sip and brings pure joy to your morning?
If that’s the case, making a boring cup at home might help you save, but it also may make you feel deprived and unsatisfied. (Not an ideal way to kick-off your day.)
That’s why today we’re offering you a different (ahem, better!) way to cut costs, save and still enjoy — spend money on the experiences and items that bring you happiness, and skimp on what’s not really important to you.
Here’s how this might look:
- If designer clothes are important to you, you could make room in your budget for the latest trends by driving an inexpensive car and buying only what’s on sale at the grocery store.
- If you’re a foodie, you might go wild at your local farmer’s market and splurge on takeout from nice restaurants — but buy your clothes at the thrift shop or only on sale.
- If travel is your passion, you might decide it’s worth skipping restaurants and takeout at home so you can indulge on your next getaway.
- If nice sheets and a comfy bed make you smile, you could skimp on fancy shoes.
The possibilities are endless, but the concept is the same with each: Decide what in your budget is most important and brings you joy and what’s a lower priority — and spend accordingly.
With tax season in the air, your budget is probably already on your mind, so now’s the perfect time to make some adjustments. Categorize the items on your credit card bill or bank statements as either splurge- or save-worthy and adjust your spending if needed. And of course, make sure you’re deciding what’s important based on what brings you happiness — not what you think you should be spending on.
Here’s to a budget that brings you joy (imagine that)!
Emily and the Savvy Team
If you find yourself on the fence about buying something (or you’re really watching your wallet), the 30-day rule will help you know for certain! Before pulling out your credit card, print out a picture of the item (or write it on a post-it) and stick in on your fridge. If after 30 days you’re still excited about it, then go for it! If you’ve sort of forgotten about it or aren’t as excited, take it as a sign that you just saved yourself some cash — and some serious buyer’s remorse. 😉
* Feeling fortunate and looking for ways to help others? Omaze raises money for charity by offering incredible experiences. You could hang out with Cameron Diaz, eat your way through Italy or so many other things. Giving back never felt so good.
* In the mood for a small splurge that won’t kill your budget? This tea company has super-tasty loose-leaf options, and you can get free shipping on orders of $75 or more!
Quote du jour
“Don’t tell me what you value, show me your budget, and I’ll tell you what you value.” ― Joe Biden
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