Why It’s Important to Splurge on Yourself Even When Living That Simple Life

January 11, 2018 in Life

Why It’s Important to Splurge on Yourself Even When Living That Simple Life

January 11, 2018 in Life

I know you all think that because you are trying to get out of debt or save for retirement that every single extra cent that you have in your pocket must go to those goals. Ideally, yes that is true to some extent, but you also have to think about your quality of life.  I mean come on!!  Imagine never getting your hair done again, or grabbing a meal with your honey.  Would you truly be happy?  I know I wouldn’t be.  I need a little reward time for all my hard work.

Granted it will take you longer to get to your goals, but your happiness is important to me.  So today I’m going to introduce to you my accounts system.  It may seem a little daunting to have multiple bank accounts, but with things like direct deposit now days, its easier than you think.  Here are the accounts that I recommend.

  1.  A car account- This one is for your car payment to be automatically withdrawn if you have one, plus an extra amount that goes in automatically from your budget for maintenance and repairs.  Once the car is paid off, you should keep the amount the same.  I recommend making a car payment to yourself, until you have enough for a sizable down payment on a new one, or you can pay for another car in cash.
  2. A vacation account- Pay yourself a designated amount each month so that you can keep a little getaway in your life.
  3. An emergency saving account- Ideally there should be at least 3 months of living expenses in there plus a little extra in the event of a job loss or other emergency.
  4. A retirement account- You may have a 401k at work, but please make sure you are contributing extra to it if the budget allows.
  5. A debt account- This is where you put an extra you may have made. Let’s say from taking an odd job, or having a yard sale.  At the end of each month you can allocate which credit card or debt account needs the most attention.
  6. A fun money account- This is if there is any extra left over after allocating for your dates, getting your nails done, or buying yourself that bag that you can’t live without.

The bottom line is that I don’t recommend to splurge every day.  Saving is obviously my priority, but I want you to have a life.  When splurging, prioritize your splurges, and make sure that you will get some happiness and fulfillment from the splurge.  Of course the more free activities you can have with your family the better, but it never hurts to make memories outside the home with them as well.  Need help figuring out how you can attain a simple life?  Book an appointment with us today.

monica

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About Me

Hi, I'm Monica. I love helping people obtain the dream of home ownership, while living a simple life. I am a mortgage loan officer in California & Texas, and I love pretty spaces. Read More

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