Temptation is tough to avoid sometimes, especially when you’re married with no children. It’s understandable that you want to buy everything you see when you can’t forecast expenses. However, planning for an uncertain future is important whether you have children or not, so it’s a good idea to avoid making lavish purchases without properly preparing for a financial future.
The good news is there are ways to get what you want in your marriage while still sticking to a sound budget. For instance, you can:
- Set aside money for fun entertainment. If you love going out as a couple, or even spending time with your friends, you can set aside a weekly or monthly budget for doing so. This way, you can have your fun without making the mistake of spending aimlessly when you could be saving.
- Create a “whatever” fund. Sometimes you don’t want to feel too restricted or confined when you’re working hard for your money. Sometimes it feels good to make spontaneous purchases rather than having every aspect of your spending planned. This is why it’s good to create a “whatever” fund. You can set aside a certain amount each month that allows you to buy whatever you want as long as it doesn’t fall outside of the budget.
The main thing you don’t want to do is blow all of your money on fancy cars when you can have a very nice one that gets you from Point A to Point B. Or eat out every night at different restaurants because you’re too lazy to cook – make an effort in the kitchen and place the rest of your money into a bank account or investment. There are so many emergencies that could come up without notice that you don’t want to be financially unprepared when you have an ample income.
You don’t have to give up everything you want in lieu of a budget. However, if you spend time saving and safely investing your money instead of buying lavish items, you could have a pretty nice nest egg in only a few years. Living frugally in your younger years means a lavish retirement when you’re ready.