Five Brilliant Ways to Blow Your Budget
By Jihan Thompson
Setting a budget and actually sticking to it is crucial if you ever want to get a grip on your spending. Problem is, budgets, like diets, can be unforgiving when it comes to the occasional splurge. But even the experts will concede that when it comes to basic financial planning, it’s okay to indulge once in a while. But like gobbling up that waistline-busting cookie, the real question is whether it will be just one or the whole bag. So splurge sparingly. Herewith, the five pick-me-ups that are always worth it ... now and again.
PAMPER YOURSELF WITH A SPA DAY
budget, saving money, budgeting, money saving tips
day spa
Stress can cause serious havoc on your body by weakening your immune system and increasing your blood pressure. Relax. Massages are excellent stress-busters. Do your homework before booking a spa treatment. Many spas, feeling the pinch of the market downturn, are pitching specials. This summer, for example, the Elizabeth Arden Red Door spas offered 20 percent if you referred a friend to the spa or salon.
THAT COVETED BIG-TICKET ITEM
budget, saving money, budgeting, money saving tips
big ticket item
Just. This. Once. And it shouldn’t be an impulse buy, either. If you’ve been eyeing a special item for months — a new watch, that West Elm sectional — get it! When you actually factor the pricey purchase into your budget, you can make it work. There will be trade-offs. Perhaps that’s the month you cut back on eating out or take a rain check on seeing your favorite band in concert.
DONATE TO CHARITY
budget, saving money, budgeting, money saving tips
charitable donations
For many people, charity is usually last on the list (or doesn’t even make the cut) when figuring out your monthly expenses. But whether you sponsor a friend running a 10K for a cause or donate annually to an organization you support, feel good about giving your money away.
THE WELL-DESERVED GETAWAY
budget, saving money, budgeting, money saving tips
vacation
Your health depends on it. Women who take at least two vacations a year are nearly eight times less likely to develop coronary heart disease than women who only took one vacation every six years, according to a recent Framingham Heart Study that surveyed women over a 20-year period. While staycations are all the rage in this ailing economy, you owe it to yourself to really get away for some R&R.
TAKE OUT A LOAN — TO BUY YOUR FIRST HOME
budget, saving money, budgeting, money saving tips
home loan
Making the move from renter to homeowner is no doubt a daunting prospect with an enormous price tag that can’t be paid off quickly. Expect to revise your monthly budget — it won’t be the same after the down payment. But home ownership is believed to be one of the best and most dependable financial assets you can acquire in your lifetime.
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