Came into some money: enjoying a Pumpkin Spice Latte - how do you stay motivated?

[TheKayla]

I just recently came into additional income (and actually got most of it deposited today!):

$3500 - freelance income
$1190 - check from work
$1170 - freelance income, check in the mail
$2000 - surprise check from my mom to help with student loans

In celebration, I went out and got something I've been dreaming of all month -- a large, overly-priced, Pumpkin Spice Latte.

I'm still sticking to my main plan -- money from my mom is going towards the student loans, paying off a small amount that was on my CC from vacation left, and the rest is staying in my accounts (1000 in savings, 200 in travel funds, the rest sitting in checking as a cash buffer).

This is the first time I could buy something I loved, that really had no usefulness or return on investment, that I haven't felt guilty about buying in a long time. It felt nice. It was a nice small reminder of what its going to be like when I'm out of debt -- and when I'm much more financially secure. Furthermore, I don't think I've ever seen this amount in my checking at once, and the security felt good. It feels like inspiration to keep growing my checking account, even if it will be slowly while paying down my loans.

Best of all, I feel great that since joining these forums I've noticed a change in my attitude towards savings (and money in general) when I come into money like this, saving most of it, or using more of it to pay down debts feels better than spending too much on myself, or the other extreme, putting it all towards debts and leaving none for myself. I've seemed to have found more balance!

My latte is my 'I deserve this for all that freelance work', and I'm glad its that instead of blowing $100+ on new clothes or something. While reaching savings/debt goals: how do you celebrate mini victories? How do you stay motivated?

[MakeAStash]

Money is not the goal, instead it's the byproduct of doing something that itself is rewarding and therefore motivating.

[MonkeyMama]

For me, savings is mostly its own reward. But, I do like food and that is in general how I splurge as well. Not like a $50 meal out (for the four of us). But, an extra treat at the grocery store, for a few dollars. I think small splurges like that can be pretty motivating.

I've never particularly understood the general idea that you should spend like 10% or 20% or something like that of a windfall - ??? - I am more of a content 100% saver (when it comes to extra money or unexpected money). But I think a pumpkin spice latte is more my speed (price range) if I came into an extra few thousand dollars. Just to say, I think that is wise. To be fair, I think I also try to keep small treats like that in my every week or every month budget, which in turn means I will be more content to save 100% of windfalls. So there is some element of having enough "balance" overall.

[disneysteve]

Best of all, I feel great that since joining these forums I've noticed a change in my attitude towards savings (and money in general) when I come into money like this, saving most of it, or using more of it to pay down debts feels better than spending too much on myself, or the other extreme, putting it all towards debts and leaving none for myself. I've seemed to have found more balance!

How do you stay motivated?

Congrats on the change in attitude. More than anything, that is what will secure your future well being. And yes, a few dollars on a latte is a nice "splurge" to treat yourself for some hard work.

How do I stay motivated? I think the main way is by having goals. Don't be saving for the sake of saving. Have a plan and a target in mind whether it is paying off a debt in a certain amount of time, accumulating a particular amount for a large purchase, or saving a specific percentage of income for retirement each year. Having a plan and a goal helps keep you focused. Also, it gives you the freedom to splurge when you see that all goals are on track and a few extra dollars come in.