Planned Splurges

As much as I’ve curbed my urge to shop these last few years, I still have a never-ending list of things I want to buy.  I think most of it has to do with the fact that my overall style has shifted from cheap & pretty to quality & classic looking.  So most of my “to-buys” are to replace items that no longer reflect my taste (i.e. replacing my hot pink side-table with this one).

To keep my spending in check, I limit myself to one major purchase (any item about $100 or more) a month, max.  I also count shopping sprees as major purchases.  For instance, my July splurge consists of the 3 items I bought from Nordstrom.  (Fyi their anniversary sale is going on until August 4th!)  

I’ve found that by planning out my splurges, I am able to purchase the pricier things I want at a sustainable rate without any buyers remorse.  Knowing that I can buy (almost) everything I want eventually helps keep my spending willpower in check.  It’s just like eating healthy.  If you intentionally allow yourself to indulge a little, you’re a lot less likely to randomly binge eat junk food.

Good Personal Finance Reads

Should you raid your retirement savings to slash debt? (CNN Money) – An article about when it’s a good idea to borrow from your 401k to pay down debt and what you should consider before doing so.

The Difference Between a Good and Bad Credit Score (MintLife) – A good summary of what credit score you will probably need to get a good rate on financing your car or home.

The Way Millionaires View Money Is Different From Everyone Else (Business Insider) – Very informative and, in my opinion, accurate summary of how the rich versus the middle class think about money.

10 Things Millennials Won’t Shell Out For (Time) – Pretty entertaining list of what we don’t spend money on.  Most of it is actually not true for me (I invest aggressively and definitely trust products recommended by friends & family most).  How about you?

37 Products With Crazy High Markups (Business Insider) – Extremely eye-opening chart!  Some of the markups we already know about (i.e. coffee from coffee shops).  But others come as a total surprise (i.e. text messages)!

I Made $15 Million Before I Was 30, And It Wasn’t As Awesome As You’d Think (Business Insider) – Well written and insightful.  My favorite line: If you’re not happy now, you won’t be happy because of money.”