Have you attempted to live by a budget and failed? Maybe you forgot to factor in a few splurges? I personally think you’re bound to fail, time and time again, if you leave out the “fun factor” of a budget. After all, no one likes boring! If you’re realistic, no matter how much you want to keep within your budget and avoid spending on unnecessary things, you are bound to give in to your temptations and splurge at some point. Never mind the feeling of guilt if you spend some of your gas money on a night at the movies!
So even allotting a small amount of cash for splurges each month can actually encourage you to enjoy frugality and your budget to it’s fullest because you may be forced to get creative with the activities you are able to afford. Being creative is always fun and quite often makes you think up brand new adventures!
Here are the three splurges I think you should include in your spending:
Entertainment
It would be unrealistic to think that you can have a budget and not factor in some form of entertainment. After all, we all crave some adventure and fun in our lives. Without an entertainment “allowance” you’ll be setting yourself up for failure in the budgeting department. Whether or not you set aside $200 or $5 a month, as frugal people, we tend to come up with cheap and entertainment ideas anyways! I’ve got a big list of Cheap Family Activities for you to check out here!
Pampering
Having a budget and being frugal doesn’t mean you have to deprive yourself. Give yourself a break and factor in some pampering. This could mean a trip to the “fancy” hair salon every 6 months or even a bi-weekly house cleaning service! Or, even if at this point in time your budget cannot allow much at all, check out my ideas for Beauty on a Budget.
Dining out
Unavoidably, there will be times each month when you find you have to eat out. Why not plan accordingly and have some money set aside in your budget for those occasions? If you’re like my husband and I, you enjoy eating out. We set aside money so that we can enjoy a dinner out once a week…without feeling guilty! I even factor our weekly dinner out into our meal plans so I’m not buying extra food for that day, which could go to waste.
Of course, your income and expenses will determine how much can be set aside for splurges. But start off small, then increase as you can. The longer you stick to your budget, the more splurges you’ll be able to fit in. Use your splurges as motivation and rewards to keep you working at your financial goals!
How do you work splurges into your budget? What are some of your ideas for cheap fun? Let us know in the comments!
An idea for Entertainment if you’re really strapped for savings. Imax in Victoria offers a year pass (unlimited reg. Imax movies) at only $46. You can even ask for one as a Christmas gift. This way you can treat yourself to a movie without having to budget for it.
We take in the free festivals in our area. We watch for free concerts in the park in the summer. In winter, we attend Winterlude activities that are free. We entertain friends by organizing pot luck meals or order out, with the understanding that each person pays his/her share of the ordered meal.
We go to movies on the days that are discounted and we go to Tim Horton’s for an occasional coffee.
I use coupons on a regular basis (by no means am I ‘extreme’) to save where and when ever I can. Everytime I use a coupon, I put the amount saved in a jar. So if I saved $10 during my weekly grocery shopping trip, then $10 goes in the jar and whenever I feel like I have earned a ‘trea,t’ I take money out of the jar.
It could be a lunch out with friends, movie date with the boyfriend, a cute new top etc..
I also use it for big ticket items. I used my ‘jar money’ to pay for HALF of my laptop last year! And now I am only about $75 shy of cashing in and getting a brand new Michael Kors purse!!!!
I hope you all find a why to splurge every now and then!
Very wise advice – thanks for making me feel a bit less guilty about my splurges 🙂 I’m pretty good with saving money, but I think we do need to reward ourselves every once in a while. We also order in every Friday – it’s our treat after working all week. Plus, I usually bring my lunch every day, so I don’t feel so bad 🙂
Going to check out your Beauty on a Budget post right now!
Great article. I think it is crazy to just save and save.
I recommend having a part of the budget used on “fun” activities.