Spoiling yourself
Jewellery, perfume or aftershave, magazines, cosmetics, weekend breaks… now and then you need some silver linings to outline your clouds. So long as you’re sensible the rest of the time and when you do take your weekend break you spend it in a hostel in Newquay rather than the Hilton in Hawaii, you should be able to afford the occasional treat.
See how much you have left each week after all the necessities have been paid for. If it’s more than nothing, decide if you deserve a treat now or later, or just put more into your entertainment budget for next week.
The same goes for holidays. Use the long vacation to earn money in a foreign clime, although you’re likely to need a bit of cash to get you there in the first place.
If you work, you may even be able to put a little aside to save up for something really special, whether it’s an air ticket to India, a leather jacket or a scooter.
The secret is to learn to recognise a luxury item before you pay for it – distinguish between what you want (the stuff you can live without) and what you need (the things you can’t). Shoes are a necessity, for instance. Ten pairs, however, are a luxury.
Prioritising expenditure is a central part of good budgeting sense. Stick luxury items on your Christmas and birthday wish lists and make sure the list does the rounds at the right time.
Last updated on: 22 September 2008