When is it Okay to Loosen the Purse Strings?

My Journey out of Debt

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When is it Okay to Loosen the Purse Strings?

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When is it Okay to Loosen the Purse Strings?I have this conversation a lot. Mostly it is with friends and family who have heard me talk about debt for years and want to know when I am going to "let loose" or "splurge." Other times I have this discussion with people in my same situation and we are trying to justify our desire to spend some money. 

The answer to, "When is it okay?" is really up to you. Sorry. I can't tell you it's okay - only you will really know what you can and cannot do.

I was fortunate to be able to go on a family vacation recently. 

I traded in my award miles for a "free" airline ticket and shared an inexpensive hotel room with my sister. We headed to Las Vegas (of all places!) to help my Dad celebrate his 70th birthday. 

Here's the funny thing that I learned about Vegas. I went with a "plan." I went with an idea of what I could splurge on, or how much I could spend that would allow me to enjoy my vacation and still keep my budget intact. 

I stuck to my plan and spent only my allowed amount, but on the airplane ride on the way home, I thought about Vegas and what it's really about. Every day I plan my expenses down to the penny. 

  • I clip coupons
  • I find sales
  • I save change
  • I do anything needed to make sure that I stay on track 

I spend a couple of days in Las Vegas (or Lost Wages, as my flight attendant referred to it upon arrival), and I didn't think twice about taking a $20 bill and sticking into a slot machine. Really? I am pretty sure that all those pretty amazing buildings in that city weren't built because they were losing money, yet I took a certain amount of money and decided it was worth it to gamble. 

I don't know why; it never even crossed my mind that I would win anything, it just seemed like the thing to do. So I may have only lost X amount of dollars on my visit, and it was nothing that completely hurt me financially in any way, but I do have to say, I kind of wish I had thought better than to stick money into a machine in hopes that I could double it.

Okay, so you are all wondering, what does all of this have to do with anything? Here it is - Before you decide to "let loose" or "open up the purse," make sure you know the risk and you truly want what you are willing to let your hard-earned money go for. 

Will you want that same thing a day, week, month, or year from now?  Or is it something that will still be available once you are debt free? Will it be that much more enjoyable because you have it free and clear?  Only you can decide that.

Related Posts:

Splurges

Can One Be Frugal and Fabulous

Let Every Windfall Build Your Net Worth

Katie Simmons, CareOne Services, Inc. Debt Management Plan Customer BloggerKatie (Simmons) Lupo

Katie is currently enrolled in the CareOne Debt Relief Services Debt Management Plan (DMP). You can read more about Katie's experience in the My Journey out of Debt blog. In her blog, Katie explores life without credit cards, living on a 'real' budget and making that adjustment from spender to saver. A newlywed, Katie candidly addresses how debt has influenced her choices in love and life. Look for older posts by Katie under the Single and Settling In blog. Compensated Blogger for CareOne Debt Relief Services.

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