Do you budget in one extravagance?

[ClicketyKat]

When you set up your budget, do you factor in one extravagance for yourself? Could be a vacation, a nice suit, or a spa day?

We don't live near our family, except for our daughter, so we allow ourselves to go visit them (a 12 hour drive) at least once a year and sometimes twice. We really don't take too many vacations, but this year there is a convention we want to attend. It's only 4 days, but a lot of our friends go to it and we miss seeing them, so budgeting for those things are a necessity to keep in touch with loved ones.

 

[Busybee]

One extravagance that I indulge in is my yearly vacation with family. We plan it in advance and book the best hotels and make adequate travel arrangements so that there is no last minute glitch.

 

[Good-Person]

Well, I usually spend a lots of money on food, and I may need to manage that expense as well. Food is really expensive and the prices are continuously rising. This is why creating a specific budget plan might be a hard thing to do. This is my only expense that I have a harder time dealing with.

 

[Mostee501]

Budgeting is a personalized process, and what works for one person may not work for another. It's essential to strike a balance between enjoying the present and securing your financial future. Consider speaking with a financial advisor who can provide personalized guidance based on your specific circumstances and goals.

 

[Kane]

I have a "luxury" category on my budget. Every month I set up a budget for this category. The money I allow for this category will be used in buying luxury goods, dining in restaurants, going for a vacation, buying expensive items, etc. If the money is not enough, the budget will carry over to the next month.

 

[Good-Person]

Budgeting is a personalized process, and what works for one person may not work for another. It's essential to strike a balance between enjoying the present and securing your financial future. Consider speaking with a financial advisor who can provide personalized guidance based on your specific circumstances and goals.

I have always believed that budgeting is a pretty tricky thing. This is because budgeting is not that simple as many people believe. It requires you to be consistent and make sure that you take an account for all of your expenses in the best manner. You may also need to deal with many kinds of miscellaneous expenses as well.

 

[Heatman]

When you set up your budget, do you factor in one extravagance for yourself? Could be a vacation, a nice suit, or a spa day?

We don't live near our family, except for our daughter, so we allow ourselves to go visit them (a 12 hour drive) at least once a year and sometimes twice. We really don't take too many vacations, but this year there is a convention we want to attend. It's only 4 days, but a lot of our friends go to it and we miss seeing them, so budgeting for those things are a necessity to keep in touch with loved ones.

I actually have a different account which I usually pay in a certain amount of money on monthly basis that I tag for miscellaneous expenses. This is the money that covers for any kind of expenses that I feel like just spend the money on without having to care about how much it costs because I'm going to be making use of the money in the miscellaneous expenses account.