Spoiling yourself to financial ruin: Beware the 'I deserve this' trap

PL

Paula Luckhoff

14 April 2026 | 20:18

Spending money as a reward for an achievement can be a good idea, but this mindset can end up damaging your financial future, cautions personal finance guru Warren Ingram.

Spoiling yourself to financial ruin: Beware the 'I deserve this' trap

Credit Card, paying with a card / Pixabay: AhmadArdity

Times are tough, so surely we need to spend a bit on ourselves as a reward and to forget our worries now and then?

Advertisers and influencers promoting luxury goods, cars, cosmetics, and other products all push the same message: You work hard, so you deserve to treat yourself.

But, while spending money as a reward for an achievement can be a good idea, acknowledges Galileo Capital's Warren Ingram, he cautions against impulse buys that can land you in financial trouble.

He describes it as the “I deserve this” trap.

"For many South Africans, this mindset is damaging their financial future - one small purchase at a time. The problem is when spending money as a reward for something becomes a default emotional response."

The financial adviser points out that the numbers add up fast:

"A R600 meal here, a R1,200 pair of shoes there, a weekend getaway on the credit card. None of these feels like a big decision in the moment but over 12 months, they can easily amount to tens of thousands of rands that were never budgeted for."

Ingram shares some pointers to keep you aware of how you're spending.

Emotional spending vs intentional spending
There 's an important difference between spending you plan for and enjoy, and spending driven by impulse, Ingram reiterates.

Intentional spending means you have set aside money specifically for enjoyment, he says.
Emotional spending happens when you are stressed, bored, lonely, anxious, or trying to keep up with others. It often comes with a short burst of pleasure followed by guilt.
If you regularly feel guilty after buying something, that is your brain telling you the purchase was emotional, not intentional, says the personal finance guru.
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How social comparison makes it worse
As Ingram points out, we're wired to compare ourselves to others.
"When your colleague drives a new car, your neighbour renovates their kitchen, or your friend posts holiday photos from Europe, there is a pull to match their lifestyle.
What you do not see is their debt, their stress, or the sacrifices they are making elsewhere, he says.
Spending to feel equal to or better than others is one of the most destructive financial habits - itt is impossible to win because there is always someone spending more.
How to treat yourself without ruining your finances
The solution is not to stop enjoying your money, but to to build enjoyment into your plan, Ingram advises.
Give yourself a guilt-free spending allowance each month -iIt can be R500 or R5,000, depending on your income. The amount matters less than the habit.
A simple rule that works well is the 48-hour pause:
Before any unplanned purchase over a certain amount, say R5000, wait two days. If you still want it and it fits your budget after 48 hours, you can buy it with confidence. Most of the time, the urge passes.

Scroll up to the audio player to listen to Ingram's detailed advice

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