When is it time to slow down or take a break?

If you’ve been paying off debt or on a savings spree, at some point you’ll probably get tired and just wish you were done. You will just want to take a break or slow down a bit.

But when is it okay to slow down and spend some of the money you’ve set aside?

There are a couple things to consider.

  1. If paying off debt is more important than whatever you want to spend money on, then you probably shouldn’t break your stride.
  2. If whatever you want to spend money on is important to you, then check whether it will delay your other financial goals. Are you willing to accept that delay in accomplishing your goal?

Ultimately, the choice is yours. Just remember that every time you decide to take a break or slow down you lose some momentum.

If it were me, I wouldn’t take many breaks until my consumer debt is paid off, unless it’s going to be several years before the debt is gone. In that case, I might schedule in some breaks along the way (a weekend away for the year or a night out every couple of months).

After the consumer debt is paid, then I’d slow down a bit more and schedule breaks more often. It’s easier to weigh whether a savings goal is more important than taking a break at this point.

Build in your breaks. Plan them if you can. And be honest about how taking a break or slowing down will affect your financial goals.

What are some things you want to take a break or slow down for? Let me know in the comments below.

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