Too many people focus on the short-term pleasures. Buying that big screen TV. A new sports car. A boat. A vacation on some tropical island. They’re fun. But they do cost money.
Blame Mastercard for creating that whole notion that memories and experiences are priceless. What’s the point in reminiscing about those things when you’re flat broke. That picture of you in the Bahamas won’t feed you.
Sometimes, it’s all about delayed gratification. It’s just more enjoyable to spend for pleasure when your mind is at peace. Here’s a good battle plan for you to follow when getting the urge to spend. Ask yourself all of the following:
1. Am I still in debt (credit cards, mortgage)?
2. Do I have money for emergencies (medical emergency, job loss)?
3. If I spend, will it put a dent in my emergency fund?
If you answer yes to any of them, then don’t even think of pulling out a dime out of your pocket. That means that you’re simply playing with fire spending money that you either don’t have or need just in case things suddenly go bad. Try to work on those first before spending a dime on things that aren’t vital.
It’s always best to spend when you know that you’re not in debt, you’ve got money saved for emergencies, and you’ve got money saved for the future. But we’re not saying that you make yourself miserable either.
You can always treat yourself to something nice for your birthday for example. It might not be as grand as a new car or a vacation. Perhaps you can buy that new iPod as a treat. Just make a savings project out of it. Include it in your monthly budget for a whole year.
