Show me the money! The love/hate relationship I have with big time spending (think rap video on a yacht) is a mystery that transcends man's earliest origins. Why do I shudder at the thought of buying living room decorations one minute, but lovingly embrace purchasing overpriced AC/DC tickets the next? (If such a priceless experience could ever be described as overpriced)
After a certain point, why don’t I care about living in college bachelor pad 2.0? One great friend of mine just dropped $32,000 in cash (hundies... strapped to his thigh on the plane flight) on a Dodge Viper, but is still a renter; why not put that down on a house? I could list examples for days...
In my opinion (famous last words), the over-arching issue here is personal happiness, moreover, and, in technical terms I whimsically invent, a "core importance".
At our cores, we’re built a certain way that makes us appreciate things in a certain light. I love seeing one of my favorite rock bands of all time, cousin Wes has an unwavering dedication to his Minnesota Twins, and roommate Marcos can't get enough good food in his belly.
You often hear the old adage "I work to live, not live to work," meaning, “I have a job to support the lifestyle I have made for myself, which is tailored around my happiness.”
Where’s the break-even point?
That depends on your budget (which, if you’re above the age of 18, you should definitely have). Do you have any business buying Houston Texans season tickets, at $1,000 a piece, with $4,000 already on the Visa card and a monthly income of $3,000? Doubtful; everyone’s financial situation is different. Some of us have $2,000 extra on hand at the end of the month, while some of us only have about $50, and many of us are on self-imposed debt payment plans to pay off last month’s big vacation.
A healthy splurge on yourself, including the occasional skydive, fancy spa visit, or nice dinner, is always good for the blood pressure and the soul. Never neglect obligations to yourself (think zero debt and a healthy retirement) in exchange for the paltry pleasures that do more to line someone else’s pockets with your cash than anything else.
Good article. Two observations I've made:
ReplyDelete1. Money spent should be remembered 5, 10, 15+ years from now. Don't buy that asset that will either depreciate or be forgotten quickly.
2. Time is a limited quantity. As we get older, we won't be able do what we can today. So I say splurge on a good experience; money can be recouped, but you can't get time/freedom/ability back later in life.
I just withdrew $5000 in $2 bills and spent it on a two week trip to Africa. I will remember that trip forever and will never regret a single cent. I did the same thing back in 2006 when I dropped $6000 to backpack around Europe for 9 weeks- epic man, epic.