So, how do you reward yourself and still stay on top of those goals you set? Planning accordingly will prevent you from overspending and keep you on track. Let's get into some key tips!
All work and no play is never any fun, especially if you are working so hard to earn your money. That being said, working hard and playing excessively can be detrimental when it comes to your finances. If you are always thinking, "I'm going to get a reward for myself," and feel like you deserve something constantly, it can lead to overspending. This is the biggest culprit for the derailment of many financial goals.
You can avoid this by building your rewards A.K.A your fun money into your monthly budget (once all your essentials have been met in each budget cycle). This way you don't find yourself feeling like your budget is a punishment because you haven't given yourself any wiggle room.
Ever find yourself not wanting or needing to reward yourself all the time? Take that money you have from your budget and repurpose it towards your financial goals. Put it in your savings or investment account or be charitable. Just because you have put aside money in your budget towards a reward doesn't mean you need to spend it all if you don't really have to.
Don't feel like you need to spend money to impress anyone. You've probably heard the saying that comparison is the thief of joy and it really is. Don't spend money you don't need to spend to impress anyone; otherwise, you'll find yourself competing with them and buying things you don't like or need, and they probably won't even notice (and they won't be helping you pay the bills).
