- Most personal finance experts would recommend saving, investing, or paying off debt with $100.
- I decided to spend it on fun for a three day weekend.
- I no longer feel guilty about spending money on entertainment.
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Many personal finance experts recommend drastically reducing go out to eat or have fun with friends to reach important financial goals, like paying off student loan debt or saving for a home.
But I personally believe that investing in my happiness right now is more important than being debt free in a short period of time. After working with my financial planner, Cait Howerton in facet wealthI realized that creating long-term habits that help me think differently about money can be more effective than stressing me out to pay off my student loans in a short period of time.
In fact, Howerton encouraged me to focus on creating smaller, more realistic savings goals instead of making drastic changes, while leaving room for fun spending. For example, he asked me to think about where I can save $75 to $100 a month without depriving myself of joy. This might look like choosing not to order an appetizer when dining out with friends (but still eating with friends!), or finding fun and free things to do in Los Angeles to offset rising gas prices.