3 Frugal Ways To Splurge Without Feeling Guilty, According to Kate Kaden
Let’s face it: Everyone is tempted to splurge now and then, even the most financially savvy and frugal among us. That said, splurging can lead to overspending, and overspending can lead to guilt, debt and significant financial consequences.
Wouldn’t it be nice just to be able to splurge occasionally without feeling the guilt that comes with it or carrying the extra credit card debt? Specifically, how do frugal folks manage to do it without a financial crash-and-burn?
Luckily, frugal living YouTuber Kate Kaden has the very answers you may be seeking. As she noted recently on her channel, she “absolutely” loves to splurge now and then, but she has “set up some systems and some standards that help narrow it down so I never feel out of control with the splurging … and don’t overdo it.”
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Her methodology combines elements of psychology and finance, so she is able to feel as if she’s gifted herself a little treat, without ever putting her bank account in the red.
Splurge on Needs First To Satisfy the Urge
If you feel the itch to spend on something nice for yourself, make sure you splurge on an item that you actually need, rather than impulsively spending on a trifling item in the checkout aisle.
For example, at one point, Kaden needed new non-stick frying pans (as a frugal person, she performs a great deal of cooking at home rather than constantly eating out or ordering in). As a result, she splurged on a lovely set of non-stick frying pans, which allowed her to treat herself to a nice gift but also make an essential purchase for her lifestyle.
That’s the first trick: identifying items you actually need, and then treating yourself to them. It satisfies your desire for an impulse buy and is an easy way to splurge guilt-free.
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Reflect on Your Monthly Purchases
Kaden recommends that you review your shopping habits at the end of every month to assess what was needed and what was not among your purchases.
As an example, she used her recent purchase of an indoor walking pad. Was this exercise tool an outright necessity? Not absolutely, no, but it did help her to stay in shape during cold winter months when inclement weather prevented outdoor exercise and, upon her monthly review, she found that it was ultimately a guilt-free splurge – maybe not a necessity, but certainly something she used nearly every day and benefited greatly from.
Other times, though, the monthly review can also help you identify poor spending habits that you need to curtail, such as excessive DoorDash-ing, or hitting the local bar every weekend, or picking up items not already on your shopping list when at the grocery store – all frugal no-nos.
Built Guilt-Free Spending Into Your Budget
Kaden suggested that, when building your monthly budget, you should make sure to add a line item of $100 for guilt-free splurging (or less, if $100 is too steep for your current savings and spending plan). By doing so, you have an affordable sum (that is within your budget and accounted for) that you can now splurge freely without any worry that you’ll overspend.
The $100 (or whatever amount you can affordably choose) is purely for fun – no bills, no debts, just for pleasure – on anything you want, and because it’s well within your budget, you won’t incur the guilt or the debt that comes with going over your monthly budgetary limit.
Bottom Line
The trick, Kaden has discovered, to “frugally splurging” is to always allow yourself little treats within reason. Whether it’s spending on an item you truly need, or something relatively inexpensive that will receive a great deal of use, or simply creating a small pocket of financial frivolity in your monthly budget, you can build outlets for your need to splurge without ever busting your budget.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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