4 Ways to Splurge Responsibly - Financial Panther

Whether you want to celebrate a major accomplishment, cheer yourself up after a difficult week or add a little extra joy to your day, you deserve a treat from time to time. But it’s important not to lose sight of your financial goals. There’s nothing wrong with splashing out a little bit now and then as long as you do so responsibly. That way, you can save applying for a personal loan or tapping into your emergency fund for when you need those resources the most.

Fortunately, there are plenty of ways to indulge without breaking the bank. The following tips can help you splurge responsibly.

Set “fun money” aside

A dedicated treat fund can help you stay in control of your spending, even when you splurge. You might automatically deposit 5% of each paycheck or $50 a month, or make a habit of directing any extra money you receive, like gifts or tax refunds, into your splurge savings account. The right strategy for you depends on your financial circumstances.

If possible, you may want to keep your fun money separate from savings for more specific goals, even if those goals are also fun. For example, maybe you’re trying to save $5,000 for a vacation, but you want to celebrate a big sale at work with a fancy night out. Ideally, you would use money from your treat fund instead of your vacation savings. A dedicated splurge fund can also help you keep recreational spending in line with your overall budget.

Follow some parameters

A special dessert, a spa day and a weekend getaway may each lift your spirits, but they come with very different price tags. Consider setting some splurge guidelines so you can indulge without getting carried away.

Think about when you might feel comfortable spending a little extra on yourself, and how much you’re willing to splurge. It’s a good idea to outline those scenarios in advance and reserve your big spending for those circumstances. For example:

For a once-in-a-lifetime occasion, like a first wedding anniversary.
When you’ve been saving diligently for a set period of time, like a year, without any big expenses.
If you’ve unexpectedly received some money and don’t have any pressing costs.
As a reward for a major accomplishment you’ve been working towards, like a graduation or promotion.

That doesn’t mean you should only treat yourself in those relatively infrequent situations. But if you had a long day or want to indulge “just because,” try to stick to more affordable options that still bring you joy, like a movie ticket, a bouquet of flowers or a fancy cup of coffee.

Enroll in an interesting class

Splurging doesn’t always mean buying stuff. You might also spend some of your fun money on a weekly class or workshop that catches your eye. That way, you can enjoy the skills or information you learn for a lifetime. This could be especially helpful if you feel burnt out and want to shake up your routine.

Consider pursuing a passion you’ve been neglecting or a hobby you’d like to try, such as baking, singing, ballroom dancing, photography or learning to play an instrument.

You may be able to find in-person classes at local studios, community colleges and libraries. If you can’t find what you’re looking for in person, you may be able to find an online class that fits your needs.

Look for free or low-cost options

Technically, “splurging” means spending money. But you may be able to treat yourself without spending much at all. The following free or affordable options may feel luxurious:

You may be able to get items like designer clothes or technology inexpensively or free from online neighborhood groups.
Some local libraries give out free passes to local attractions like museums or botanical gardens. Libraries may also offer free streaming services with your library card.
There are apps and online services that partner with local restaurants to offer meals, desserts and drinks at steep discounts to avoid waste. These apps can help you snag a gourmet meal at a low price.
Check out a local craft fair or makers’ market. You may be able to find something small and special from a local artisan that you wouldn’t be able to get anywhere else.

Splurging may help you save

As long as you spend responsibly, the occasional splurge may actually help you stick to your budget. When you’re pinching every penny to build your savings or pay down debts, you may feel overwhelmed and tempted to give up on your goals. Rewarding yourself for managing money responsibly can make it easier to stay the course.

Notice: Information provided in this article is for information purposes only and does not necessarily reflect the views of financialpanther.com or its employees. Please be sure to consult your financial advisor about your financial circumstances and options. This site may receive compensation from advertisers for links to third-party websites.

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More Recommended Ebike/Scooters

Check out these other ebikes and scooters I've reviewed:

Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
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More Recommended Investing App Bonuses

For additional investing app bonuses, be sure to check out the ones below:

M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
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Moomoo (15 free stocks) – Moomoo is a free investing app currently offering 2 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
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If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.

Upgrade ($200) – Upgrade is a free checking account that’s currently offering a $200 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $200 Referral Bonus – Step By Step Directions.
Ally Bank ($100) – Of all the banks out there, Ally is, without a doubt, my favorite. At the moment, Ally is offering $100 to customers who open an eligible Ally account and meet the requirements. Here are the step-by-step directions to earn your Ally Bank referral bonus.
Fairwinds Credit Union ($175) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
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US Bank Business ($900) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
GO2Bank ($50) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $50 referral bonus.
Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
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Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
US Bank Business. US Bank is currently offering new business customers a $900 signup bonus after opening a new account and meeting certain requirements.
M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.

Feel free to send Kevin a message here.