Comments on: Three Things I’ll Spend Money On (and Three I Won’t)

By: CBizzle

CBizzle — Sun, 17 Sep 2017 15:23:35 +0000

I LOVE this post :-) Good for you, and I’m excited to see pictures from your kite adventures!
My wife and I are on our way to FI (35, $1.1) and I have become a firm believer over the years that buying quality and frugality are not mutually exclusive concepts. It’s all about figuring out what’s really important to you and investing in those areas.
It’s a great lie that you have to spend lavishly in all aspects of your life to have a quality lifestyle; pick the things that are important to you and spend in those areas and save your money on others.
Things I choose to invest in:
1. Travel- Spending money to travel with my family is an investment in our memories, relationships, and education. You can’t put a price on the smile a 5 year old has at Disney World, or the benefit to your marriage a long weekend away for just the two of you can provide (well, I suppose you can put a price on it, I just don’t mind it ;-)

2. Quality cooking equipment- Cooking is one of my very favorite hobbies; a perfect Saturday for me is having some friends over and trying out a new recipe. Buying quality cooking equipment will last you a lifetime and improve the results you get in the kitchen. However, when the people at Williams Sonoma and Sur La Table know you by name you may have a problem :-/

3. Housing- You spend everyday at your home. Having a space that I enjoy, fits my lifestyle, and that I’m proud to come home to give me a lot of joy. I know it’s not the best use of assets, but I derive a lot of utility from my home and that’s worth a little extra to me. That said, I also live in Houston and you can get a lot of house here for relatively cheap; I’m sure I’d feel differently if I lived in NYC or the Bay Area.

Things I won’t spend money on:
1. Expensive hotels or first class airfare- I totally agree with you on this one. I’ve never understood the 1st class airfare mindset; we’re all going to the same place, and we’re all going to get there at the same time. Same for hotels, I’m just sleeping there. Expensive airfare and hotels eat into my travel budget! By flying inexpensively and staying in AirBNBs my wife and I were able to add 5 days to our Italy trip for the same price as staying in fancy hotel. Don’t get me wrong, fancy hotels are nice, but I’d rather have an extra 5 days in Tuscany.

2. Cars- Nice cars are the silliest thing that we spend money on. Depreciation, repairs, and worry are not something I want to sign up for with my transportation. I’ll gladly drive my 2011 Toyota to live in a nicer home; easiest decision I’ve ever made.

3. Jewelry- I have a plain silver wedding band. That’s the extent of my vast jewelry holdings. I have purchased the wife a few nice pieces over the years, but more because I wanted to than she wanted them I think. I have friends with $12,000 watches and it absolutely makes my brain bleed to think about the ridiculousness of that purchase.

By: ZJ Thorne

ZJ Thorne — Sat, 26 Aug 2017 21:45:48 +0000

I spend good money on quality shoes that are worth re-soling and last for years with baby-ing. I like looking good and I want to be able to walk for miles no matter what outfit I’m wearing.

By: Michael

Michael — Thu, 10 Aug 2017 13:21:20 +0000

Great points on the beer! I’m in the craft beer game myself, and the shares turn out to be a great way to get people together and try great beers from all over the world. As long as you’re being reasonable (not spending $500 on one bottle of Side Project), it’s a good hobby that always keeps you on the move and busy searching for the next one.

If you ever want to send some of that Pliny my way, let me know! :)

By: Adriana @MoneyJourney

Adriana @MoneyJourney — Tue, 08 Aug 2017 08:12:28 +0000

You’re not insane for spending a buttload of money on something you clearly enjoy.
Insane are people who spend money they don’t have on things they don’t need.

By: Dora

Dora — Mon, 07 Aug 2017 14:09:01 +0000

I will be investing in my health for the next three months. It’s a weight-loss program that helped a family member lose excess weight. He convinced me that it’s much more than that – it’s a full health assessment.
It will cost about $1,500. It’s worth it to me because I’m feeling my health change as the years go by and want to get it under control.
I want to enjoy many energetic years of retirement.

By: J. Money

J. Money — Mon, 07 Aug 2017 13:57:01 +0000

In reply to Sandra. You must be fit as hell!

By: Paul

Paul — Mon, 07 Aug 2017 12:57:26 +0000

In reply to J. Money. What makes it bling?

By: Paul

Paul — Mon, 07 Aug 2017 12:56:44 +0000

In reply to Mr. 1500. You would, unfortunately my knees have no where to go even with my hips all the way back in the seat...

By: Mr. 1500

Mr. 1500 — Mon, 07 Aug 2017 12:08:17 +0000

In reply to B@Fillennial. YEAH! I recently discovered that the place I'm taking the lessons at does this too. The equipment would be a little more, but it seems like more fun too.

By: Mr. 1500

Mr. 1500 — Mon, 07 Aug 2017 12:06:47 +0000

In reply to Christine. Hi Christina! "rode 350+ miles across Iowa and a fixie Cruiser" Whoah! And big-ass hat tip to you! And, this can only mean that you were on RAGBRAI! I LOVE that ride (7 time participant)! Because of children, we've skipped the last couple, but were thinking about doing it in 2018. See you there?