Reward Yourself Without Breaking the Bank: Smart Ways to Stay on Budget! | Clever Girl Finance

Summary

In this video, Bol Shumi, founder of Clever Girl Finance, shares practical tips on how to treat yourself without overspending or derailing your financial goals. She emphasizes the importance of building a 'fun money' budget, rewarding yourself with meaningful experiences, avoiding comparison, and finding free or low-cost ways to indulge in self-care. Bol also suggests using loyalty points and taking a day off for relaxation. Overall, the video encourages viewers to prioritize financial goals while still enjoying life and practicing self-compassion.

Takeaways

• 😀 Build a fun money line item into your budget to allow guilt-free spending without impacting your financial goals.
• 😀 If you don't feel the need to spend your fund money, save it for later or put it toward savings, investments, or debt repayment.
• 😀 Avoid comparison to others, as it can steal your joy and derail your financial journey. Focus on your own goals and practice gratitude.
• 😀 Spend your fund money on things that align with your core values and bring you genuine joy, rather than just to keep up with others.
• 😀 Treating yourself doesn't always require spending money. Explore free local events, museum visits, or gather friends for a potluck.
• 😀 Indulge in self-care and me-time activities that don't cost money, like enjoying a bubble bath, reading a book, or having a cozy coffee moment.
• 😀 Consider a 'staycation'—a vacation in your own town or home to explore local spots and enjoy a break without the high costs of traveling.
• 😀 Taking a day to do nothing can be a great reward in itself, allowing you to relax, recharge, and disconnect from the hustle of daily life.
• 😀 When you do choose to spend money, prioritize spending on meaningful experiences or items that bring you happiness, not just to impress others.
• 😀 Remember that treating yourself doesn't have to involve overspending. You can find ways to reward yourself while still staying on track with your financial goals.

Q & A

Why is it important to treat yourself, even if you're prioritizing saving money or paying off debt?

Treating yourself helps maintain motivation and prevent burnout. Without rewarding yourself, the financial journey can feel overly restrictive and demotivating, which may lead to giving up on long-term goals.

What is the first step to treating yourself without blowing your budget?

The first step is to build a 'fun money' line item into your budget. This allows you to set aside small amounts of money dedicated to guilt-free rewards, without impacting your financial goals.

How can you fund your 'fun money' account?

You can fund your fun money account by putting small amounts of money into it every time you reach a financial milestone, such as paying off a chunk of debt. This creates a system of rewarding yourself as you progress.

What should you do if you don't feel the need to spend your fun money?

If you don't feel the need to spend your fun money, you can leave it in the account for later use, or choose to save or invest it. You have the flexibility to use it however you feel, without pressure to spend it.

Why is it important not to compare yourself to others when rewarding yourself?

Comparison can lead to dissatisfaction and undermine your progress. Focusing on others’ possessions or experiences may distract you from your own goals and accomplishments. Instead, concentrate on your unique journey and practice gratitude.

How can gratitude help you avoid overspending while treating yourself?

Gratitude fosters contentment, making it easier to resist unnecessary purchases. By appreciating what you have, you’re less likely to feel the need to overspend or compare yourself to others.

What is a practical way to reward yourself with something meaningful without overspending?

To reward yourself meaningfully, spend your fun money on things that align with your values. Choose rewards that bring real joy or contribute to your well-being, rather than impulsively spending on things you don’t truly value.

What are some examples of rewards that don't require spending money?

Examples include attending free local events, spending quality time with friends, enjoying a relaxing day at home, or taking advantage of loyalty points or rewards you've accumulated.

How can self-care and 'me time' serve as a rewarding experience?

Self-care, such as taking a bubble bath, reading a book, or enjoying a peaceful moment with a cup of tea, provides emotional and mental relaxation without the need for spending money. It helps you recharge and maintain a sense of well-being.

What is the concept of a 'staycation' and how can it be a rewarding experience?

A staycation involves staying at home or in your town and treating it like a vacation. This could mean exploring local attractions or simply enjoying a relaxing day at a nearby hotel, all without the costs and hassle of traveling.