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Indulge without the guilt

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Just because you have been hard at work saving money doesn’t mean you can’t treat yourself occasionally. Rewarding yourself every so often can actually make saving easier in the long run. Afterall, an extreme budget that doesn’t allow for room to splurge a little can be demotivating and that’s not good for you or your savings.

Timing is everything

The secret to really stretching your dollar and feeling good when treating yourself is not to be impulsive. If you buy something the moment you feel you want it, you may end up overpaying and regret the purchase later on.

When you indulge it should feel special, so it’s important to put some thought into it. By researching potential purchases and waiting for sales, you can stretch your dollar which could mean a bigger treat for you or more money saved, either way you win.

A good strategy is to use a 24-hour reflection period between when you have identified a treat and when you actually make the purchase to avoid buying things that are “nice” but not “great”.

Loyalty programs

A great way to treat yourself without the guilt is to take advantage of loyalty programs. Many companies offer programs that incentivize you to continue buying their products/services. Usually these programs are structured in a way where each purchase results in you earning points which can be used towards something in the future. There tends to be little to no downside for participating in them, especially if you can find programs that reward you for things you already buy on a regular basis.

Rewards may range from a free cup of coffee to much larger ticket items. It’s important to do your research when participating in loyalty programs in order to make sure you are maximizing your rewards and also understanding if any cost is associated with these programs.

Coupons and Coupon Codes

There are a number of e-commerce sites that exist solely to promote the latest deals. You may want to check sites like Groupon, Red Flag Deals, or Bargain Moose to see what discounts might be available. It may also be worth subscribing to newsletters from your favourite stores and brands as these online newsletters often come with discounts which can be applied towards purchases.

How often can I treat myself?

Planning for how often you can afford to indulge is important. This should be based on your budget – which is an essential part of any savings plan. Be realistic about how often you can afford to splurge.

The good news is that treating yourself doesn’t need to cost a lot of money, so try to be creative when coming up with ways to treat yourself. It could be as simple as setting aside time to read a favourite book, exploring a new hobby or allowing yourself to sleep in on weekends – anything that helps you recharge and nurture relaxation.

At Saven Financial, we’re passionate about helping people save. It’s why we’re committed to delivering a simple, and safe way to save money so our members can achieve their financial goals through smart saving.

Stay ahead with SavenSmarts!