You and Your Budget: When to Indulge and when to Save

There's no doubt that today's standard of living is higher than it was when our parents were growing up. Inflation has taken over and it seems like the price of everything, from clothing to gas and eating out is on the rise.

So where is it acceptable to go all out with your cash and credit and when should you be cutting back? Read on to find out.

Indulge in:

Your summer vacation: You work hard all year and are desperate to get away and relax. Use that hard earned cash and go all out for a cruise, a trip to Las Vegas, or even a traditional outing to the beach. When it comes to your leisurely time, don't settle for a vacation on the cheap. Go ahead and get the best accommodations with the best attractions you can find.

Going out to eat: It is always relaxing to go sit down at a restaurant and let someone else wait on you instead of you preparing your own meal. Try a sandwich or a dinner platter you've never tried before. Purchase an alcoholic drink (if you're of age) and order the most appetizing dessert on the menu. On top of spending your cash, make sure to forget about your diet as well.

Job interview attire: It's unfortunate, but employers tend to judge interview candidates by their appearance. Buy the best quality fabrics you can afford at a department store such as JCPenney or Macy's.

While you shouldn't buy all new clothes if you have other interview acceptable pieces, you should spend a little more than your normal clothing allowance. You will feel more confident and may move ahead in the ranks over other candidates.

Beauty services, such as a haircut or a manicure: Whether you have a date coming up or just want a change, don't be afraid to spend at a salon. It is worth it, especially if you trust the stylist or manicurist. You have complete freedom of choice about how you want to look, so make sure you are clear on what you want to get the biggest bang for your buck.

So where should you cut back?

The rest of your wardrobe: If you like to buy clothes and shoes a lot, don't head to expensive department stores all the time. Try the outlet stores, which offer almost the same options as their high priced counterparts.

Superstores such as Target and Wal Mart offer nationally known brands for lower prices and have sales all the time. The best part is that people will never know you're scrimping unless you tell them where you bought your outfits.

Going to the movies: Adult tickets at most movie theatres can be $8.00 apiece; children's tickets, $5.00 or $6.00 each. Between buying tickets and then outrageous prices at concessions (and by the way the workers will always encourage you to buy a bigger soda at 25 cents more), it is best to head to the theatre every couple of months. Otherwise, wait for the DVD and enjoy it while munching your store bought bag of popcorn.

Professional sports tickets: There are ways to see your favorite sports team in action without spending a fortune. Consider partial season packages, where you can get tickets to a set number of home games without breaking the bank.

Although individual tickets can be a good investment, buy them sparingly if not purchasing a ticket plan. Look into special discounts and promotions for families or students, where you can get your ticket, a food special, and game time souvenir.

There are several options for shopping and entertainment available today and you can have them without spending a fortune. You just need to make sure you know your budget limits and restrictions. Budget wisely then get out there and have some fun!