Saturday, April 23, 2022

"Revenge spending" is defined as the urge to spend money to make up for the difficult experience caused due an adverse economic event(e.g., a pandemic) or a bad financial phase in life.

 

We tend to think it's okay to spend more than we normally would, since we've been cautious for so long and we simply want to stop feeling so deprived.

 

It's natural to want to have fun and forget about the hardships you had to endure. This type of spending is justified to some extent.

 

But you've got to splurge responsibly. Make sure you're not compromising on your financial goals.

 

Plan in advance and consider each purchase carefully. 

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