Avoid draining your savings for short-term gratification.

This past year has been undeniably challenging for everyone. Personally, I have to confess that I might have used some of my stimulus money on things that were more for fun than practicality. Facing fear and sadness, I sought comfort in purchasing nice things to lift my spirits, a sentiment many easily address through online shopping. While I don’t regret those purchases, it’s crucial to understand the boundary between treating oneself occasionally and indulging excessively in impulsive desires.

Spending money can be satisfying, right? When you have a surplus of cash, you often feel compelled to spend it on something. Buying something enjoyable can provide a sense of financial security, allowing you to feel more comfortable with your finances. However, it’s essential to ensure you are genuinely financially stable. Life revolves around distinguishing between wants and needs. Needs encompass essentials like housing, food, healthcare, and other vital expenses that are indispensable or highly necessary. Wants refer to small indulgences that may not serve practical purposes but bring joy. Despite the significance of maintaining emotional well-being, wants should always come after fulfilling your needs. If you can’t afford to buy groceries, prioritizing a new TV and games isn’t prudent.

Depending on your financial circumstances, focusing on fulfilling your needs before your wants may be more challenging. Although it may be less exciting, you might need to adjust your self-care routine. Instead of extravagant purchases, consider incorporating smaller pleasures into your daily life. Perhaps enjoy pizza on weekends, buy a new video game monthly, or visit a dog park weekly. These simpler and less costly activities can still provide immense joy without straining your finances.