What's Worth it?
As pfbloggers we strive to save money and we focus on being frugal. This isn't an easy task. Too much focus on money and saving can lead to stress and unhappiness, but too little focus can do the same thing. We are always looking for the balance. What's worth it? What isn't?
The right balance is different for everyone. The splurges we allow ourselves change depending on who we are what we enjoy. I have a close friend who buys lunch every day. However, he rarely buys dinner and cuts back in other ways, for him splurging on lunch is worth it.
I imagine for others the ability to treat themselves once in a while is important, or perhaps it is the ability to treat their loved ones. Many have retirement as their motivating factor.
I think an important part of being frugal is focusing on what you are saving for. Right now I have two goals - my emergency fund which will bring me peace of mind, and my travel fund. It is easy to get carried away with what I want here and now. I'm hungry so I'm buy that pizza, or the shirt is cute and on sale so I splurge. While I enjoy these splurges, at the end of the day I would rather put this money away so I can travel instead. My goal for my emergency fund is $10,000. I'm on track to have $5,000 by the end of this year. Why $10,000? That is the number that will give me peace of mind.
What splurges do you allow yourself? Or, what do you save for?
6 comments:
I'm not in a position to be saving anymore (no job and going back to school), but previously I was primarily saving up for school. And it was worth it. I have enough of a cushion to not work for a couple of months before I write my GRE and move away for my program.
I do splurge on books every once in a while, but I don't regret it. However, I go to dinner a little too much...which I would like to avoid.
same: efund for security, travel fun for adventure.
I try to make my budget line up witj my priorities. $300 for efund, $100 for travel.
In reality, my greatest expense/splurge is rent, but that is temporary. So I splurge on privacy (not having a roomie)
Splurges: REALLY good meals once every few months (think: $50-$75/per person for food & drinks) & saving for travel :)
We'll see how all this holds up once my paychecks start rolling in from my first & brand-new job!
I just go as frugal as i can until i get sick of it and take a break - then i start all over again ;)
nice and simple eh?
i can last a pretty long time until that happens, but being all "hardcore" def. doesn't work for me.
Some of my splurges are good food and traveling. I should probably be putting the $5K I'm spending on Paris into my retirement fund... I'll be scrambling for the money when next winter rolls around!
I also have a $10,000 EF goal... am almost there!
Just found your blog and I'm a big fan! I definitely think our pf philosophies match up. I linked to you in my digest today...
Keep up the great posts!
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