Sacrificing working moms that we are, we may give up purchasing little pleasures when faced with paying down debt like credit cards (oh, those holiday gift tallies!), student loans and the mortgage. Happy reality check: A few bucks a month for a few creature comforts may help you reduce debt faster, says Patricia Seaman, spokesperson for the National Endowment for Financial Education (NEFE). It’s like a diet—it’s easier to stick with it long-term if you budget some calories for the occasional treat. Allow yourself a few small splurges and you’re less likely to rebel and “binge,” or overspend out of frustration.

Embrace your money values. We tend to spend (and overspend!) money according to personal priorities, says Seaman. NEFE’s research shows these values usually fall into four categories: social life, financial life, inner life and physical life. Take a quiz at smartaboutmoney.org/lifevalues to understand what matters most to you. Then decide what treat purchases will truly satisfy.

Swap a “don’t care” for a “must have.” Really like to look good (physical life)? Tote bag lunches to work and put the savings toward a first-class haircut and color. If your guy values time with his buds (social life), he may want to keep paying golf greens fees—but wash and press his own shirts. You’re more likely to stay on budget, and pay down debt, when you feel in control of spending choices.

Consider cheaper alternatives. Boost savings with adjustments to help stretch fun money. If you must have your venti mocha latte, have it two times a week rather than five, and switch in office coffee. If the family bonds when eating out, do it—but find deals on sites like groupon.com, kidsmealdeals.com and restaurant.com. Save while splurging!


Tip: If you splurge on a good cut and color, try doing root touch-ups at home.