Can a Spending Splurge Help You Reach Savings Success?

Ever splurged while on a diet? A recent study showed that dieters who enjoyed a controlled dose of dessert lost more weight than those who abstained. Jean Chatzky and Jim Prochaska suggest that spending money may work the same way. The key is control, and they offer the following caveats. A splurge doesn’t have to be huge; a small treat can be just as satisfying. Timing is important; too much of a good thing really can be too much, so don’t do it too often. Finally, give yourself permission for the occasional spending splurge, so guilt doesn’t make it worse.

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By Carrie Rattle

Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence. Read More