I don't know if this is true or not: When someone focuses a lot on saving cash, they end up spending more down the road because they feel like they are compensating for something. That they've worked hard to save . . . and when they get the chance to spend the cash they do it "with vigor and enthusiasm." To curb this, it's recommended that once in a while, you should spend some of the cash you've saved so it doesn't feel like you don't have the freedom to spend your money. Question is, do you guys occasionally spend some cash to kill the urge of spending more later in time?
I would do this! I would think "Oh, I have been so good! I should treat myself to some starbucks!" Then I would end up blowing at least $20 a week on Starbucks. Ugh! So unproductive! I find that family treats help like a movie night at a dollar theater or a theme park if we use a coupon. That helps me realize how saving can be fun!
I've struggled with this for years - each time I would get a new job where I'm earning more, or get a raise at my current position, I inadvertently start spending more than I did previously, and it barely feels like I'm making more at all. My grocery spending in particular got really out of control at one point a few years ago, and I had to do some big time scaling back. I used to be very disciplined on my spending when I first moved out on my own, and would even keep a running spreadsheet of all my different monthly expenses and when they were due, so I knew exactly how much I had left over to "party" with. It also helped me see where I could scale things back if I wanted more "party" money. These days I usually "treat" myself to something, which I try to keep under $100, about every two weeks. It's usually some clothing or a small appliance, or perhaps some cologne.
I really don't know. I mean I buy something if I have the money. I put aside a certain amount to pay toward the rent or the electric bill or whatever, but in general I am not very strict with myself. Money comes and money goes, and when it comes I tend to spend it. I feel, like I am generally deprived, so when I get some it burns a hole in my pocket.
I treat myself to avoid impulse buys. By this, I mean that I allocate about 10% of my income towards a "big" treat. A video game I've been eye-ing, a nice pair of shoes, even a new laptop. If I do make an impulse buy, I deduct that amount from my "treat" account. I feel really guilty because I hindered my process towards something I really wanted. It really helps me focus on a goal.
I had learned to save money when I was in school. There was a campaign by a savings bank that encouraged school children to open a savings account. But I save money in my piggy bank (although it's not a piggy anymore but an empty can of biscuit). And the purpose of my saving money is to spend it for something special like treats for birthdays or gifts for occasions. I save money the whole year round and spend it all mostly for Christmas gifts.
I do this mostly with food, but it's basically what I blow my money on most of the time. I try to eat healthy and having a treat once a week helps me save money and calories from binge eating. It's a really good strategy.
I do this all the time. I think being too severe with saving without allowing yourself the small bonus every once in a while only ends up hurting you in the end since you are depriving yourself of pleasure at the cost of savings. I think the best way to save is the type where you could get to experience both having savings while still allowing yourself the experiences necessary to have a complete life. In my opinion, even if you get to save a lot, but you sacrifice too much to get there, then it isn't worth it.
I guess it depends on priorities. It's not a hardship for me to save money, I just do. I live very simply, so I don't see it as depriving myself when I save.. I don't need the latest gadgets or to eat out every weekend. I don't need the latest trends, because I'm not into being a cookie cutter.. I'm fine with the clothes I have, fine with not going to the movies, fine with not contributing to the mass money making machine. Because I don't buy into all that, I guess you could say I'm saving money. And I enjoy my simpler life, so I don't feel the need to go out and blow all I have because I "deprived" myself of these status symbols and time wasters and unhealthy products. Saving money is a cool bonus to not being a zombie consumer; it's just part of the package I guess.
I think if you save up for a particular bag or pair of shoes then you don't buy lots of cheap ones and save money that way. Some people have discipline and can do that, but it does take will power. I know that it can work in some cases, but the best way is to save for something that won't devalue like a Prada handbag!
If I had the luxury of saving a lot of money, I would probably pull a little out at least once a year and treat myself to a job well done. It is just constantly pulling money out is what you have to be careful not to do. I think this is perfectly ok, especially if you put a little extra into savings knowing that some of it is going to come back out.
