Anyone who knows me knows I love to pick on Starbucks (okay, Dunkin is equally fair game, you know, just to be fair) when it comes to discretionary spending.
So, what are the odds that I would be lucky enough to win a Starbucks gift card while participating in a challenge a couple weeks ago?!?!?!
The irony is not lost on me!
That said, do you know how much of your money is going towards these “little splurges”?
I am definitely not advocating for your to take all the fun out of life, just budget for it.
It is recommended that you budget 10% of your revenue to be used for “play” or “fun”.
This includes your mani-pedis, your massages, eating out, and, yes, your favorite mocho choco whatever it is.
Now, this 10% assumes you are also allocating 10% for short-term savings, 10% for long-term savings, and 5% for tithing or giving. If you are not in a place where you truly cannot live on 55% of your earnings, just split what you have between those buckets and in those percentages. It could be as simple as designating $1 per week to split between the four. Or $3.50 per week. Or whatever you can do that sets up the habit for regularly contributing to these parts of your life.
And the best part is that you are expected to use the “fun” money each month. In other words, do not deprive yourself!
So, enjoy that favorite Starbucks drink and then go back to crushing it as the financially empowered super hero you are!🦸♀️🦸♂️
What are you splurging on with your “fun” money? Please share in the comments! 🙂
