A Good In Depth Read

6 things people who are good with money always splurge on

1. Products that earn you more money

Purchases that help you advance in your work are a good investment, according to Palmer. Her list includes a professional outfit for your first day of work, a good laptop, or a reliable car, if that's important to your livelihood. "All the tools that allow you to do better," she said, are worth a bit of a splurge.

Palmer added that coaching can be a good career investment for entrepreneurs and employees alike. "Whatever is hard for you and challenging for you, investing in a coach to help you with that," she said, is a worthwhile investment.

2. Services that save you time

Get your groceries delivered instead of going to the store. Send your laundry out or hire a house cleaner. If you could theoretically spend that time at work and earn more than you spend on those services, you come out ahead, Palmer said.

A common theme in Palmer's advice is to splurge on things that give you more time to enjoy your life. "To me, money is all about giving you the life that you want, and that usually means spending time in the ways that make you happy," she said. "The best thing you can do with your money is to use it to free up time."

(BusinessInsider.com)