2/7/22, 10:06 AM
Knowing When to Splurge and When to Save - Matthew Littlemore | Finance Blog
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Knowing When to Splurge and When to Save by matthewlittlemore | Feb 7, 2022 | Finance, Matthew Littlemore
Splurging can come in many forms. For some people, splurging is a way of having a nice night, ordering dinner, and enjoying time out – without worrying about the money spent. For others, it’s buying an expensive piece of tech or paying for something that will add value to their homes. Regardless of their definition of splurging, there is a time and a place for it. There are times when it is worth spending a little extra for something nice, and there are also times when one definitely should save money by purchasing the cheapest option available. The trick is knowing how to identify each of these moments. Splurge – Emotional Value: If someone is purchasing an item for their home that they know will come of use all of the time and that they know will bring them joy, they should consider splurging on that. A good recliner can be worth a splurge, as can a new spa shower. When purchasing an engagement ring or another special item, it might be a good idea to splurge and purchase one of the pricier options out there, also. It all depends on the potential emotional value of the item. https://matthewlittlemore.net/knowing-when-to-splurge-and-when-to-save/
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