It can feel like a weight has been lifted off your chest. You spent a lot of time, effort, and, more importantly, money, paying down and eliminating debt. There may have been some splurges for childproofing your home, or adding adequate shelves for homeschool supplies. Other than needed things (you know, clothes and food) anything extra has gone toward paying off a debt. Sacrifices were made in not eating out or taking vacations, all while looking toward the future. Which has come. The last payment was made and now the debt is paid off. Which leaves you with a lot more money than you used to have. So now, what are the most important things you should add to your life, now you have the money spare? This is something you might not have thought of because you’ve been in the money-saving mindset for so long. So, here is some inspiration…
Fixing Up Your Home
There may be things falling off the walls, and you’ve been papering over the cracks, perhaps literally, so now it’s time to make your home look a little bit more presentable. The littlest things make the biggest impact in this sense. And while you might be desperate for a new kitchen countertop, or a new sofa, making a few of the little changes doesn’t cost as much money, such as the numbers on your front door, or even the light switch plates. In addition to this, you could get new mirrors for your bathroom, and if you have any money to spare, a new coffee table for the living room. And of course, a lick of paint will freshen up your home considerably.
Treating The Family
You’ve been tightening your belt for so long, but now you have a bit of money left over at the end of the month. You may feel that you owe yourself and your family a big treat. So, while you can blow a considerable amount on a big family meal, you might want to treat every member of your family to some of the things they’ve been after for so long. Maybe your child is after a new video game, or your partner needs a new wardrobe of clothes, or maybe you have been pining for something for so long, but you now have the opportunity to get it finally! Or, on the other hand, if you’ve got your eye into the future, investing may be a great way to increase your income. You should have an emergency fund and other savings, but investing can really grow those funds.
Benefiting Your Lifestyle
If you feel that you are tired of eating poor quality, low priced food, buying organic, or a little less processed, won’t just be a welcome change tastewise but your body will feel the benefits of it too! Why are the healthy things in life more expensive? You might want to think about changing your lifestyle so you can feel healthier, rather than penny-pinching and going without.
Now that there is some extra money in the budget, you can plan for some fun splurges. In which case, a vacation may be in order. Whatever way you choose to spend it, make sure your entire family feels the benefits.