Savings are something anyone, regardless of age, can benefit from. Whether you’re saving for a rainy day, a big-ticket purchase, or even retirement, you’re making a financially wise decision. Putting just a few dollars a week into savings can add up over the long term, making it well worth it. Sticking to your savings goal isn’t always easy, so successes should be celebrated. In fact, celebrating your continued efforts to save and work toward your goal deserves a little treat here and there.
Here, we’ll take a look at how powerful it can be to reward yourself for reaching your savings goals. It can motivate you to keep up with your efforts and prevent you from blowing your budget. The thing is, rewarding yourself doesn’t mean you go out and purchase a new wardrobe, the latest iPhone, or some other flashy item. Instead, look at small ways to reward yourself that will feel just as satisfying and still work within your budget.
We’ve got a bunch of great budget-friendly treats and handy tips you can use. These will make saving money feel worth it.
Look Into Local Cultural Activities and Attractions
Every town and city typically has a long list of attractions and activities. While some may be on the pricey side, cost-effective options also exist. Sometimes it takes a little research and creativity to find what’s out there. To help get your creative juices flowing, here are three examples. These are broad enough that you may have something similar located close to where you live.
Let’s start with the classic street market scene. Marrakech is home to one of the most famous street markets in the world. Jemaa el-Fnaa is not just a street market, but it’s also a tourist attraction. This UNESCO World Heritage Site features a vast number of stalls offering just about anything you can think of, including food.
Next up is the street food in Bangkok. Not only is the street food reasonably priced, it’s also authentic and tasty. Why go to a restaurant and spend a lot of money when you could enjoy something just as delicious at a fraction of the cost? Expect authentic Thai cuisine, fresh ingredients, and a touch of local flair.
A general tip when choosing which vendor to buy food from is to pick one that is consistently busy. It’s likely popular for good reason. Bangkok has actually built a reputation for itself in the street food scene, so you’ll definitely feel like you’ve treated yourself.
North America has some great budget-friendly options to treat yourself too. Because people can be busy juggling their work and personal life, treating yourself can look very different here. Instead of going out, it may feel like an indulgence to stay in and enjoy entertainment at home. You could play a few low-stakes games on the best online slot sites in Canada or microwave some popcorn and watch that movie you never got to see in the theatre. Whether you play a couple of quick games or veg like a carrot on the couch, it will feel like a treat to kick back. Weekends don’t mean you have to go out and spend money.
You get the general idea here: It’s about finding activities that will feel engaging and fun yet don’t cost a fortune.
Take Advantage of Loyalty Clubs and Rewards Whenever Possible
The examples above are quite specific, which is why we’ve also got a few more general tips you can use. Loyalty clubs and reward programs, for example, can be used by anyone. It’s incredible how many banks, credit card companies, retailers, and other businesses offer these types of customer loyalty programs. The idea is that the more you spend, the more rewards you’ll be able to earn. These rewards can include cashback, using points to pay down credit card debt, travel perks, store discounts, and more. Many people choose their bank, credit card, or store credit provider based on the rewards offered.
Taking advantage of these types of programs means that treating yourself can be a whole lot more affordable. You may even be eligible for free rewards.
Coupons and Discount Admissions Can Be Very Handy
Beyond loyalty programs, discounts and coupons can also offer substantial savings. Examples include discounted admission to popular attractions, sports game tickets, restaurant deals, and more.
One of the most popular ways to access these types of savings is through online platforms like Groupon. You never know what coupons and deals will be offered, so you need to check back regularly. Just remember that with this type of website, there are a limited number of coupons available for each deal. If you see something that you like, you’ll need to act fast. Imagine being able to visit a spa and treat yourself to a fabulous massage at a 70% discount. Suddenly, that indulgence isn’t expensive and fits well within your budget.
Work Your Treats Into the Monthly Budget
No matter what your version of a small treat is, it’s important to build it into the budget. The biggest mistake you can make is overspending. That will leave you scrambling to save money the following month, which may not be possible.
Most budgeting tips include a recommendation to include an entertainment or a “treat yourself” expense when creating your budget. It can be a weekly or monthly allotment; whatever you feel comfortable with works. Since it is a variable expense, it gives you a little wiggle room. Some months you may spend less than others. If that’s the case, why not take the surplus and put it into savings?
Most people have a hard time remembering how much they have spent in a month, so it’s wise to use a budget planning app. Look for one that allows customization and the ability to track expenses in real time. Some apps even include reminders and savings tools.
Savings Don’t Need to Take a Hit
It might sound like an oxymoron, but treating yourself and saving money can co-exist. You don’t have to cut back on your savings to enjoy life—it’s about finding small, inexpensive ways to splurge. Little splurges and treats like these can lift your spirits and show you that you don’t need to only make sacrifices where your savings are concerned.
