Is there a right time to splurge on oneself? We all deserve something every now and again. If you have to use a cash advance in order to make it happen, then it probably is not a good time for something extra. Know the reality of your finances before you make your final decision.
Don’t use a cash advance to treat yourself.
Paying for cash to splurge does not make good financial sense. It ups the cost of the item and puts your finances at further risk. High interest loans are emergency solutions. If you deserve a treat, but would have to pay to get the money, you may want to find a free treat this time around. Give yourself a day off: don’t do any house chores, send the kids to a relative’s house, put your feet up and relax. A free day is priceless.
If material treats are truly the only things which please your pallet, smart choices will make more financial sense. Plan ahead. Work at improving your budget and put extra money aside into savings. Now you can treat yourself. No, not the whole allotment, but a small portion of it. If the item you desire is more than a small portion, keep saving till you have set aside enough. Utilizing charge cards or short-term loans to pay for extras does not support a saving lifestyle. How do you know when it is right to splurge on something extra?
- Do you buy on impulse? Ask yourself if you really need it today, and then leave the store without it. Give yourself a week to think it over. If you still have a strong desire to buy that item, then make room for it in your budget.
- Do you comparative shop? When you know you are going to make that certain purchase, how hard do you look for a better deal? There are some great online options where used products are money savers. Look for outdated models and for companies which combination prices. It pays to do your homework.
- Do you have to buy the name brand? Some people get stuck on labels and stick to certain brands. Paying extra in order to have that label show is an expensive habit. Consumers should research the product and compare brands in order to make cost effective purchases.
- Will this purchase bring long-lasting happiness? Are you going to spend the money on something which will bring instant gratification and then get nothing from it later on? It might behoove you to splurge on something which will maximize your happiness. Focus on purchasing experiences which will enrich your life. If you need to purchase an object, make it one which will be enjoyed often.
I can’t stress enough the importance of making any type of splurge one which does not come to fruition by the utilization of cash advances or credit cards. Splurges are fun, they are extras, they are well deserving. Just remember to enjoy them for as long as you can without paying for them longer than need be.
