Spending Money Feels So Good

Sometimes we find ourselves standing at the checkout counter with a pile of goodies ready to buy. It happens sometimes without us even realizing it.

I find myself there often. It's like I can't even control. The worst thing about it is that I often justify my decision based on my emotional state.

We sat down and did our budget. Every penny was accounted for down to the last grocery item and gas fill up.

But somehow we still find ourselves reaching for our wallets to buy those frivolous things. It almost seems inevitable that we will buy another trinket without regard to our plan.

With all the planning and goal setting to be disciplined, when do we know the right time to splurge? When is it appropriate to buy something that is not a part of our budget?

The answer is always. We can always buy the frivolous things we want.

Spending MoneyCredit: lammatlarge.wordpress.com

Let's Spend

I was reading a great post on buying pillows from Boston Gal’s Open Wallet and these things were great. They had canvas material and a real history to them that made them special. As I read, I wondered if they were built in to her budget or not?

Here comes the catch. A budget is a plan that eliminates the spontaneous action of impulse buying. The key to overcoming that impulse and still getting what you want is to simply budget for it.

I know it sounds incredibly easy but most people don't follow it. Most people find themselves cheating before the week is over and denouncing the idea of budgeting all together.

That is why it is important to add discretionary spending into your plan.

The other day, I was out and about when I got the craving for a taco. Now food is my weakness. I love to eat every kind of food from every kind of restaurant.

I pulled out my phone, (Which incidentally I found a nice article on Boston Gal’s Open Wallet right under the pillow article about smart phones as well), and searched for some places to eat.

The first thing that popped up was a Taco Bell. It was only a few miles away and I started getting that excitement of eating a Chalupa.

As I was driving up to the window to order, I realized that I was totally going off my budget. Eating out was not in my plan for that day. My plan was to eat lunch at home and not spend any unnecessary money.

Did I still eat at Taco Bell? Yes I still ate the Chalupa. But I did feel guilty about it. I should have planned better.

If I want things that are outside of my budget, then I must be able to pay for those things with in my personal finance world and budget those items accordingly.

Thank you Boston Gal’s Open Wallet for some nice articles. I have been following her blog for some time now and you should check it out on spending.