Current News

6-18-2018 • How to Splurge Responsibly

Did you know?

--La Madeline au Truffle—surrounded by a rare French mushroom—is worth $250 and the chocolate has a shelf life of only seven days.

--The Ferrrari 250 GTO 1962 Model is the most expensive car sold at an auction—fetching $32 million! The car is among the 39 Ferrari 250 GTOs produced between 1962 and 1964.

--The iPhone5 Black Diamond Edition, built by a Liverpool based jeweler, is worth $15 million. It features an outer casing of 24-carat gold, the Apple logo in white diamonds, and a home button consisting of a 26-carat black diamond.

Well, these may not be things you’ve dreamed of buying, but nearly everyone has something they would love to have that may be out of their reach. June 18 is National Splurge Day! This “spend-without-consequences” holiday was started on a whim 20-plus years ago by Adrienne Sioux Koopersmith when she decided she was fed up with traditional holidays. There is a way splurge responsibly without leaving you broke or in debt:

Come up with a splurge item. It could be a designer purse, a new item for your hobby, or a fancy meal or a trip to London. Some financial experts say if you’re going to splurge, doing so on an experience is better because the memories last longer than any material item.

Budget. Once you have an item or experience in mind, then set up a budget for this splurge moment.

Save up. Set up a savings mechanism—whether it’s an automatic savings account at your financial institution, such as a credit union, or putting spare coins in a piggy bank. Whatever works best for you in terms of savings, do it. The point is to start saving.

Then, go for it! Once you reach your financial goal—splurge away!

You could also splurge without spending a dime—such as taking in a movie at your local community center, attending a play in the park, or visiting a museum during a free weekend. With proper planning you can splurge away—guilt-free and debt-free. Enjoy!