Are You Rewarding Yourself in Ways that are Getting You in Debt?

It’s a great idea to reward yourself. If you exercise for three days in a row, for example, you may want to reward yourself as an appreciation and to motivate yourself for further success. If you get that promotion, you will want to celebrate all the hard work that went into that. However, many people get into trouble by celebrating with lots of cash and overspending. Here’s how to stop that habit:

1) Never take out payday loans or other high-interest signature loans for a reward. The cost is just not worth it.

2) Think small rewards. You don’t have to give yourself a huge reward to feel great. Small, inexpensive rewards are often just as great (and sometimes more fun).

3) Consider saving for big rewards. Rather than celebrating lots of small events, consider putting aside a few dollars each time something great happens and treating yourself to a big reward (such as a trip overseas) once a year or once every few years.

4) Check out free rewards. You don’t have to pay anything if you’re doing something great. Reward yourself for three days in the gym with a trip to a local beach. Or, reward yourself for that new promotion with an evening of TV show marathons. There are lots of treats you can give yourself without spending a dime.


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