Thursday, 15 June 2017

Save for your entertainment


This concept may seem strange to some persons but I have been adopting this method for some years now and it has truly helped ease the stress that entertainment expenses can bring. Every now and then we should treat ourselves and do so responsibly.

Planning how money will be spent is important and if the thing you want to do is expensive, then all or at least half (just a suggestion) of the money needed can be accumulated beforehand through savings. Whether it is a vacation trip or a shopping spree, the fact that you have saved for this occasion makes it even better because you eliminate the mental stress of thinking, “Can I really afford it? How will I compensate for this purchase?”

Figure out how much money is needed and when, as it is important that you allow yourself sufficient time to accumulate the funds. Then, put aside the required monthly amount for the designated period until the event will take place and be disciplined enough to not spend from that reserve until the appointed time. Then go have some fun!





4 comments:

  1. Is it, then, that entertainment should be a subsection of your budget aside from savings?

    ReplyDelete
  2. Is it, then, that entertainment should be a subsection of your budget aside from savings?

    ReplyDelete
  3. Never thought of factoring in a budget for entertainment it seems rational thanks.

    ReplyDelete

Annuity or Savings Plan?

Investopedia.com said something very true, which is that most of us hope to live until a ripe old age, but longevity can have perils. A...