How You Would Spend an Extra $1,500?
Last week, Diana received a very unexpected $1,500 bonus for the excellent job she did managing a big project at work. Thrilled that her boss rewarded her efforts, Diana immediately felt like celebrating. That night, she ordered the boots she had been eying online, and booked a trip to visit her best friend in San Francisco. Though Diana felt a twinge of guilt for not putting the money into her savings account, her money mindset was: FREE MONEY – you only live once!
While Diana’s reaction was to live it up, someone else might feel the need to immediately put the check in her retirement fund. Everyone’s money mindset is different. Your MM is your gut reaction when it comes to saving and spending. It’s your financial security comfort zone.
When it comes to having a little extra money on hand, there are four main categories that most of us fall into. Where do you fit in? We want to know!
Big Spenda – Like Diana, the Big Spenda wants to have fun. You only live once, right? –This mentality is fine if you’re not in debt…
Practical Mama – This little lady can’t justify splurging unless it’s absolutely necessary. While she appreciates the finer things in life, she is way too practical to buy something just because she can. Mostly likely, her $1,500 will be used to pay the bills or buy a much needed item for herself or family member.
Savvy Hoarder – She’s a woman who will take the $1,500 and stash it immediately into her savings account or retirement plan. There’s nothing more exciting than reaching her financial goals way ahead of schedule!
Mix & Matcher - This señorita loves to live it up but feels guilty if she doesn’t save anything at all. With her surprise $1,500, she’s likely going to get a facial & massage and then put the rest of the cash into her 401k!
Tell us your Money Mindset, and let us know what you would do with an extra $1,500!