Finance Spirit

Sometimes we all have to splurge a bit. Those that truly manage their finances prepare for this moment. For example, I put a bit of money back each month in a “no guilt” fund. This money has no purpose, but I can blow it any way I like. It is my reward for managing our money wisely and living frugally. I know that it can get tiring to be frugal all the time. You want to just go to the store and buy without thinking about anything. We all get burned out. We get tired of being responsible. It happens. Sometimes you just need a break. So take a small break, but don’t give up and backtrack. There are things you can do to get back on the frugal track. There are ways to maintain your financial motivations. Even if you have fallen off the frugal wagon a bit, you can get right back on.

Start by looking at your goals again. Why are you living the way you do? Look at your dreams and goals. Do you need to change them or adapt them? Goals do change. Be honest and set realistic goals. Reassess why these goals are important to you. Take the time to become excited about reaching these goals. Motivation is key. Your goals are the motivation that keeps you frugal. They are the reason that you even bother to manage your money. I know that it is easy to get caught up in the “I want right now.” It is easy to become envious of what others have. We want a new kitchen, a swimming pool and a Lexus. But step back a bit. Is cooking in your old kitchen for a few more years worth what you get in return? Prioritize your wants. If they need to become a goal, then make them goals and start saving for them. Otherwise, ask yourself if they are more important than your current goals. Is a Lexus better than retiring early and putting your children through college?

Start looking at the costs of things, not just the appearances. You can either see that nice Lexus, or you can see the really large car payment, insurance costs and worry over door dings. Figure out how much it would be worth when you finally pay it off. How much money would you lose by buying that car? How far would that money have gotten you if you put it somewhere else? Now look at everything this way. Don’t just look it, look at the costs associated with it.

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