Yahoo Finance How to Embrace Spending in Moderation
Two years ago, I got a gift certificate to Drybar, the hair salon famous for its $40 blowouts, for my birthday. I sat on it for months. Birthdays, weddings and other special occasions passed as I resorted to last minute self-stylings, letting my gift card sit idly by.
When it comes to personal care, I've always been low maintenance. It's not that I don't care or don't take pride in my appearance, I just have trouble justifying $60 for a haircut or $100 for color when I can look perfectly well put together with my own brush and comb. Naturally, a $40 blowout fell into that "hard to justify" category, even though it was free to me, thanks to my gift certificate.
Eventually, when I was shooting a promo video for my book release, I called Drybar and scheduled my first appointment. Well, it turns out I look (and feel) pretty darn fantastic with a $40 blowout. When the time came to take new headshots a few weeks later, I was back at Drybar, this time paying from my own pocket.
My experience with Drybar is one I find increasingly common with every little taste of luxury I get. Whether we're talking about a $40 blowout, upscale gym or $100 yoga pants, I find it much easier to say no to unnecessary decadence when you don't yet know what you're missing.
I'm all for incorporating little indulgences into my budget, but the more I get a taste for new luxuries, the more wants I have gnawing at me, which can strain my budget.
Anyone who's been on a diet can relate. The more treats you have a taste for, the harder it is to accommodate them all within your limited caloric and junk food allowances. Whether it's eating or spending, "everything in moderation" is great in theory, but tough in practice.
In seeking to reel in my newfound taste for $40 blowouts and other such luxuries, I thought about how I'd successfully implemented moderation in the past and came up with the following moderation guidelines. I hope they can help you, too.
1. Think about financial trade-offs.
Moderation can and maybe should include some elimination. Some things are simply easier to cut out completely. In my diet, for example, I skip soda and fast food completely, because they are not worth it to me. Likewise, taking time to assess which indulgences are really worth it (or not) can help you decide what to splurge on and what to skip.
2. Avoid rationalizations.
Moderation too often becomes an excuse to overindulge. Instead, pick and choose the splurges you savor most. The more intentional you are in doing so, the more you'll appreciate every little luxury and break the habit of thoughtlessly justifying every whim at the expense of future financial needs.
3. Redefine moderation.
Sometimes moderation isn't the problem so much as what your definition of moderation is. I used to shop sale racks for new clothes thinking I was being fabulously frugal, but now I rarely buy anything retail. Instead, I stick with consignment, hand-me-downs or gift cards. Shifting your definition of moderation away from your former reality or your social or cultural definitions can help you get grounded in what feels right to you.
4. Track your progress.
Once you've narrowed down and redefined your moderation, see how well you can stick to it by tracking it. The great thing about financial moderation is that it's entirely tangible. You can set concrete numbers as targets and hold yourself accountable to them by tracking your splurge spending and staying within your set parameters. Getting grounded in the numbers is also hugely helpful in realizing trade offs and ensuring you savor the splurge.
A $40 blowout might not seem too huge in the context of my total monthly budget, but within the parameters of my $200 splurge allowance, it's almost 25 percent. When I have to choose between that and gas to enjoy a weekend away with my boyfriend, there really is no contest. The luxury of the twenty-minute blowout doesn't hold a candle to the luxury of 48 hours away from the chaos of the city with my best friend.
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