Despite not having saved enough this year for my IRA, and knowing I
have to put something into my kids' college account, I went shopping.
Did I feel guilty? Not really. It had been so long since I shopped for
clothes and makeup, and I ended up hitting some great sales and
spending less than 1/4 of what my mortgage runs me each month. Now I'm
not advocating frivolous spending or running up your credit card bill
if you can't afford it. But a splurge here or there surely can fit
into our lives, yes? Lately I've spent the bulk of my extra cash on
tree removal, bathroom retiling, a new garbage disposal and car
repair. It was time for me.
I was delighted when I came across this article the other day. No, I
didn't spend six figure on South Sea pearls, but I felt pretty posh on
my little shopping spree just the same. Justifies my feelings perfectly:
Business
Small splurges help morale while saving for goals
By Susan Tompor
GANNETT NEWS SERVICE
"Celebrate a great year," the ad proclaimed, "with a one-of-a-kind
gift."
The gift? A spectacular, Mikimoto South Sea cultured pearl necklace in
platinum. Price tag? $225,000.
Most folks aren't exactly ringing up six-figure celebrations when it
comes to prospects for 2007. The ad appeared in The Wall Street
Journal, where advertisers target CEOs with mega salaries and execs
with those huge bonuses from brokerage firms.
And yet, as we make financial resolutions -- putting more money into
the 401(k), giving up lottery tickets, opening up a college fund for
the children -- remember those $225,000 pearls.
I'm not suggesting that anyone dream about making enough money to buy
these beauties or some other outlandishly priced treat.
Focus on the first word in the ad: Celebrate.
Too often when it comes to work and money, people dwell only on the
sacrifices. Getting up early. Working through lunch. Paying with cash.
Using a bonus to pay down debt. Saving 10 percent or 15 percent of pay
for retirement.
All these things are good ideas, especially when you face tough times.
On the other hand, I'd suggest that the worst financial move to make
is to vow to forever live on canned food.
It's just not worth it.
What we need to understand is that any financial plan is worthless
without hope.
We're able to save because we can hope for a better job, a good life
for our children, a healthier time in old age -- and many more reasons
to celebrate.
At the same time, it's sensible to enjoy some pleasure along the way.
It really is OK if you don't put every dollar you save toward
retirement.
Celebrate a great year.
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