Dr Oz: Tips to Save for a Vacation While Sticking to a Budget
Dr. Oz talked with The Money Coach, Lynette Khalfani-Cox, about Money Anxiety Disorder and what causes it along with the most common types of anxiety people feel when it comes to their finances. Lynette is also sharing her three steps to restore your financial health and the second one is to conquer frugal fatigue by rewarding yourself. She says it is not only important to reward yourself immediately, but also set aside some money for something fun in the future (like saving for a vacation) because this will help you stick to your financial plan.
Dr Oz: Immediate Financial Rewards Keep Your Budget on Track
An example of an immediate reward is visiting the manicurist every couple weeks to treat yourself to a little pampering. Lynette says that money can be taken from the “everything else” category of your budget, so you do not have to feel guilty about spending that money.
Dr Oz: Saving For a Vacation
A long-term goal to save for in the future could be something fun, like a cruise. Lynette recommends putting away 1-2% of your income in a separate fun each month until you reach your goal and you are able to that dream vacation you have always wanted. She recommends involving the entire family as a way to make it fun and to show them with a little sacrifice there will be a reward in the future.