I tried to be thrifty this month and got to save $1000. I plan to splurge on something for myself as a reward. What should I buy?
2007-02-18 19:13:08 · 6 answers · asked by dyelifish 1 in Business & Finance ➔ Personal Finance
I know this sounds cheesy, but have you already started saving for retirement? One thousand dollars would be a nice nest egg to put into a 401(k) or an IRA, which would then compound interest for years until you retire. That could be the best gift you ever give to yourself.
2007-02-18 19:21:28 · answer #1 · answered by artemisaodc1 4 · 1⤊ 0⤋
Saving 1K/month is its own reward. If you can continue saving like this for 1-2 years, you will have 12-24K. Then you can start learning how to invest: make money work to make more money.
Start doing this while you're young. After you save your starting investment money, you can go back to more "normal" spending habits if you like.
Think long-term. With 12-24K, you don't have to worry about losing your job as much, starving, or living paycheck to paycheck. You'll have less stress, less worry, less pressure. At that time, you can splurge 1K, and it won't make a big difference.
If you really can't resist the urge to splurge right now, then save $950 and treat yourself to a mini-splurge of $50.
2007-02-22 08:51:48 · answer #2 · answered by sky2evan 3 · 0⤊ 0⤋
I agree, the "best" thing to do with your savings would be to open an account for your retirement OR, if you don't already own a home, begin saving for a down payment. The amount you put down on a home can make a HUGE difference on your monthly mortgage payments -- which can totally affect your lifestyle for the entire 30 years you are paying that mortgage off.
2007-02-18 19:29:11 · answer #3 · answered by maxximumjoy 4 · 0⤊ 0⤋
You could plan to travel - pay off some of the expenses each month, ie: airfare, then pre pay your accomodation, etc etc. In a year you could have an amazing round-the-world holiday paid off!
Alternatively, why not buy a plasma TV? Yay!
Or you could get a really nice sound system.
Or a musical instrument - a piano maybe!
A car would also be nice, if you don't have one already.
These are all things I would do with my money...
Em
2007-02-18 22:25:30 · answer #4 · answered by Emmerage 2 · 1⤊ 0⤋
Haha hey, Try this site http://linkachi.com/?4f , enter your Zip code to enter it and check out what that lady and her boyfriend are buying, thats the definition of a Splurge lol get some ideas from there.
2007-02-18 19:30:05 · answer #5 · answered by brandon m 1 · 0⤊ 0⤋
Save it. Try to be thrifty for a year, see if you save $12,000. Then you can buy something real nice.
2007-02-18 19:19:53 · answer #6 · answered by Spam 3 · 0⤊ 0⤋