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you’ve got the option to absolutely treat yourself withoutblowing your budget.
It all comes down to planning.
Here are some ways to carve out a piece of your paycheckfor those well-deserved luxury splurges guilt-free.
The key is to treat luxury like any other budget category.
The thing is, youve gotta be disciplined about it.
This way the moneys already earmarked for something special and he doesnt feel guilty when he eventually spends it.
Last December, I saved up enough for a weekend at this amazing resort in Sedona, he added.
And because hed planned for it, there wasnt that usual post-splurge anxiety.
Its all about balance: enjoy the finer things, without sacrificing your financial peace of mind.
Luxury spending should never come at the expense of your essentials or long-term goals.
Once those are in place, you’re able to figure out whats left for the fun stuff.
Then and only then do I give myself permission to save for the fun stuff, he explained.
The extra hustle makes the eventual reward feel even better.
Creating Your Intermittent Luxury Strategy
Start by deciding what luxury means to you.
It could be quarterly spa days, designer sneakers, gourmet dining or tech upgrades.
Whatever it is, define your splurge goals so you know what youre saving for.
Next, figure out your timeline.
Are you aiming for a treat every month?
Set a realistic frequency based on your income and other financial obligations.
Based on Lokenauths experience helping others with their finances, he said the best approach is starting small.
He recommended beginning with setting aside 3% of your income and gradually increasing it as your salary grows.
Hes seen too many people attempt to go too big too fast and end up frustrated.
The key is being super specific about what counts as a luxury splurge.
For Lokenauth, anything over $500 that isnt a necessity goes into this category.
Having that clear definition keeps him from using his luxury fund for random impulse purchases.
Trust me, I learned that lesson the hard way, Lokenauth said.
Making It Sustainable Long-Term
The key to luxury spending that doesnt throw your finances off track?
Building a sustainable strategy means checking in with your habits every so often.
Are you still hitting your savings goals?
Are your splurges still bringing you joy or just becoming routine?
At the same time, he also makes sure to build in a buffer for unexpected opportunities.
Last month, I snagged some seriously discounted first-class tickets because I had the funds ready to go.
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