We’ve all heard about the need to save for that dreaded ‘rainy day’. But what about saving for a ‘sunny’ day? Strange as it may sound, yes, there’s actually a money pot you can create for the fun (and perhaps less important) things in life.
True, having that safety net is essential, but it’s equally important to be able to enjoy life to the max and reap the benefits of your hard work. After all, money is there to be spent. So what better way of doing so than treating yourself?
We all need that outlet where we can participate in some form of pastime, and let’s face it, hobbies don’t come cheap! Well, most of them don’t, at least. There is one specific hobby you can actually enjoy without spending anything and, possibly earning a little, and that’s signing up at an online casino through www.NoDepositWorld.com. Its fantastic list of providers is complemented with no deposit bonuses, free spins and a whole lot of other offers (like cashbacks and VIP Programs) to incentivize players who’d like to try their luck. And the best part, is if you manage to win money, you can add it to that ‘Sunny Day Fund’ you’ve just started. Pretty neat, huh?
But no matter what your flavor of treat is, here’s why it’s a good idea to save for those simple little pleasures in life.
Make budgeting enjoyable
While saving money for a rainy day is important, it’s not the be all and end all. Once you have your loans under control and are pooling money towards unknown and unexpected ‘bad’ expenses – like job loss, a trip to the dentist, or a car accident – you can start putting aside a little for discretionary fun.
Although getting on top of your finances is always the main goal, if all your goals are negative, then it will have you feeling negative.
Remember when you were a kid, and your parents gave you a few dollars to go to the shop and get yourself a treat? While it was never going to be as exciting as Christmas or your birthday parents, those cheap thrills were worth it every time. The same goes with your own spending and budgeting.
An unplanned treat isn’t as rewarding
While unplanned treats are still exciting, working towards a reward gives you a build-up of excitement and energy. Like the sticker system for kids, where gaining stickers towards chores and good behavior can net different rewards at the end of the week and month, you have something to look forward to if you do well.
Saving money for these little treats, and knowing what you’re going to spend it on, gives a better feeling than just buying a new top or a nice bottle of wine on a whim. While you still feel good for those ‘on a whim’ treats, the feeling isn’t as rewarding.
Now that you understand the psychology behind why saving for the little pleasures in life is a better way to frame your relationship with budgeting, let’s show you how.
How to save for the little pleasures in life
Once you have your loans and rainy day fund under control, along with a good grip on your weekly, monthly, and yearly spending, you can start allocating little bits of your incoming funds towards those treats in life. Think about what you love most and that brings you joy. Is it… Video gaming? Makeup? Beautiful home decor? Plants?
A good way to start pooling money for your sunny day funds is to start a ‘Wish Fund’ as written about on YNAB. YNAB is a comprehensive budgeting app that helps people become smarter with their money.
Demonstrated in the example is a couple’s little treat savings item list, with small, medium, and large ticket items. At any one time, they are only adding funding towards one small, one medium, and one large item.
Putting money towards the items isn’t tricky. If you’re under budget one week, you can put a few extra dollars into each item’s fund. Some debit and credit cards allow you to ‘round up’ on purchases, where the cents remaining in a dollar are funneled to a different savings account.
Once you’ve hit your savings goal for any item, go out there and get it! Or swap with another item from your list that costs a little less, if you’ve changed your mind in the meantime.
Brighten up your life by taking control of your finances
Sure, it seems fiddly at first, but once you start allocating money to different pools it’ll become second nature. Instead of being unhappy that all you seem to be doing is keeping your head above water and never having any fun, you’ll find that taking control of your finances gives a sense of freedom, pride, and joy.