We’re all told to save up as much money as possible. But are there some things that are worth spending a few extra bucks on?
In the video above, personal finance expert and I Will Teach You to Be Rich author Ramit Sethi gives his advice on how to splurge. He suggests the idea of “money dials”—turn your dials up to the max on the things you really want, turn them way down on everything else, and visualise your life that way. Can you blow your nest egg on a cruise? Sure, but then you won’t be going to a nice dinner all year. Want that fancy watch? Go get it, but maybe move into a cheaper apartment.
Sethi says your priorities are all about asking “Why?” You want to buy a house? Why? Want a new car? Why? Keep these long term goals in your mind to visualise your spending and keep you on track.