When to Splurge & When to Save

save n spendWhether money is of concern or not, we all want to spend our money wisely, which includes determining when to save and when to splurge. It’s hard to determine what to do when you’re investing in yourself, after all, you want to treat yourself to what you deserve, but you also want to ensure that you’re making wise financial decisions.


Let’s flesh out what’s worth splurging on and when to save your dollars.


Splurge on health care and dental care.

Splurge on health care and dental care. They will often have lasting results and it’s important to invest in yourself.


Save when there is a comparable alternative such as going to the neighborhood salon or using at home salon services instead of visiting the high-end salons.

Everyone likes to treat himself or herself every now and then, but treats don’t have to break the bank. When you visit high priced salons and spas, you are typically paying for the experience, yet what you really are seeking is the result — refreshed skin or relaxed muscles. Beauticians at high end salon have also come from these small neighborhood salons and are equally well trained.


Splurge on items that you will use continuously such as personal or household electronics.

I don’t know how many times a day you use your computer, but my life is on my computer and it’s something I’m willing to splurge on because the quality is the most important thing to me when it comes to items I use frequently. It’s important to note that cost doesn’t equal quality, though, but quality will often cost you a little bit more. So it’s important to budget for items you use regularly, such as your computer or your mattress. They get used daily and must stand up to the demand and you will also want a company that will provide prompt service.


Save when it is something that you can easily do yourself and it would otherwise be a splurge out of convenience.

There are some things we can do ourselves, but we pay for them out of convenience and not lack of skill. Time does equal money, but when money is tight sometimes it’s best to do those tasks yourself such as cooking your own food rather than ordering out. A manicure can cost anywhere between Rs 400 to Rs 1000 but an at-home manicure kit will cost you less than Rs 100. If you add up your manicures and pedicures for the entire year, it adds up. This is money you can keep in your pocket!

In closing

When splurging, focus on items that you will use frequently or that will have a lasting impact on your quality of life. These are items that count and you want to make sure that they can live up to their demand and that they won’t cost you more in the long run. But it’s also important to keep in mind that cost and quality don’t necessarily mean the same thing.

Do your research before making any splurge purchases to ensure you’re spending your money the right way.

#Budgeting #Saving #GirlPower #AspirePFS # PersonalFinance #Mymoney

Adapted from: myfabfinance

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