Spend Your Money Too

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Now I know you might be taken aback by the title considering that this is supposed to be a frugality blog. I am Kuripot Pinay after all. But hey that doesn’t mean I don’t get to splurge sometimes.

Very often than not, we would want to buy things that are totally out of our budget. Perhaps we would like to treat ourselves sometimes by having this, traveling elsewhere and what not. We have been working tirelessly and we deserve a special treat too. Some might not embrace this notion because they would rather save up their money. Let me tell you one thing.

It is OK to spend.
But before you go to your nearest mall and shop your heart away, remember to splurge intelligently. I can’t stress that further. It is okay to splurge if you splurge intelligently.

Here are tips that you should consider before you head on a spending spree.

#1: Create memories

My husband and I went to Singapore a few weeks back. While we scrimp on the airfare and make sure it is the cheapest that we got and we also converted a few points for miles, there are still other expenses worth noting. Of course we would want to experience notable attractions in the country and they don’t come cheap. But at the end of the day, you only get to go to Singapore and experience the country at least once. While the frugal me is battling against spending to some exhibits in Marina Bay, I know for a fact that it will take a long time for us to be back. While we are there might as well spend for it. This is a perfect example to allow yourself to splurge. Don’t hold back especially if you will get to keep the memory for a lifetime with your loved ones.

#2: Enough savings

One thing that will keep you away from regretting the splurge activity is when you still have savings intact after. This means that your emergency funds are sufficient and you are not touching this fund and use it to splurge. Going back to our personal experience, I don’t feel guilty at all spending on those attractions because I know we both still have individual and joint funds. We made sure not to get money from those accounts and we just used our saved money months before the trip.

#3: It is an investment

You can’t go wrong with spending for investment purposes. Good examples would be for further education, capital for a business and even putting the money to varied investment vehicles you have studied. Identify if these activities can be able to supplement your personal growth and financial growth. You can never go wrong if you splurge your money on this.

For frugal people like me, it is always a battle if we spend our hard earned money. We would rather save it or keep it than splurge and spend it away. But if it fits the three above, don’t feel bad as it is an intelligent splurge.

P.S To those doing the 52 Week Money Challenge, it is Week 28 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too. 

P.P.P.S I am also sharing my stock market secrets and information via these resources