If you are on a tight budget, or you otherwise cannot justify making certain luxury purchases, there are ways to incorporate certain luxuries into your lifestyle without blowing the budget or feeling guilty.
One great way to do so is to buy joint gifts. If everyone in your family wants a flat screen TV, why not make it a family Christmas present? Cut back on other smaller, individual gifts to make the larger purchase. A dishwasher might be another luxury item that would make life easier for the entire family. Even the kids will appreciate it when they can go play instead of washing dishes. They won’t mind giving up a few trinkets in order to afford something that will give them more free time.
You can also find other ways to cut expenses, and save the money you would have otherwise spent to use toward making a luxury purchase. If everyone in your family agrees to one less birthday present, and doesn’t mind comic pages instead of wrapping paper, pocket the cash you save from these options and put it towards the purchase.
If you’re considering a luxury purchase, you might even want to put the item on layaway if possible, and make immediate payments each time you find a way to save some money.
Maybe your family would like to go on vacation. If you’re on a tight budget, you probably don’t go out to eat very often, but if you do it at all, it adds up. Cut back one dinner out each month, and apply the money saved toward the vacation fund.
These are not only a good ways to save; they are also good life lessons. They teach children that instant gratification isn’t necessarily a good thing and that sometimes sacrifices are necessary, especially for something worthwhile.