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Saturday, March 25, 2017

So What Do You Splurge Your Money On?

Posted by Tim Stobbs on April 23, 2008

Well in the last while this idea has come up twice in my life.  First over at Get Rich Slowly and the second time at a seminar I attended last week.  So I thought it might be fun to forget about ways I save money and focus on where I splurge my money.  Here are a few of my favorites.

  1. Home Improvement – Alright I will admit I like living in a nice looking environment.  I can do it slowly in stages which makes it somewhat affordable, but in the end I will spend several thousands of dollars in each house I live in making it beautiful and I don’t regret a penny of it.
  2. Home Location – I could have easily saved $20,000 or more by buying a different house, but we picked this one because we love the location.  I’m 100 m from a huge park system, three blocks from a mall and tons of big box stores and 500 m from three different elementary schools.  Even if I won a new house I won’t move from here.
  3. DVD’s – Ok, I’m a cheap person when it comes to renting them (I get all of mine from the library or friends), yet if I really want a given movie on DVD I will buy it the day it comes out.
  4. Coffee – I hate crappy coffee and don’t mind the least paying a bit more to get a decant cup when I’m out somewhere.
  5. Rollar Blades – After destroying a cheap pair in under two months one summer (I literally cracked a wheel in half) I’ve never mind in the least spending a couple of hundred dollars on a decant set.  Actually if I consider amount of use for dollar paid I’m likely saving money now as my current set has lasted much longer than any previous ones.

So what do you splurge on?

Comments

6 Responses to “So What Do You Splurge Your Money On?”
  1. Mr. Cheap says:

    Eating out and travel would probably be my two big splurges. I used to spend FAR too much money on DVDs and books, but I’ve managed to cut back dramatically (to basically nothing).

  2. Sarlock says:

    The good news is that with your home location “splurge”, you’ll get that money back (plus growth) when you sell your home as the location will have added value to the next buyer as well. Home improvement can do this too, to a lesser degree and depending on the type of improvement it is.

    My wife recently started to get DVDs from the library instead of the video store… and now it makes us wonder why it took us so long to realize how much money we could save doing it that way (we used to spend $5-$10 per weekend on movie rentals).

  3. Canadian Dream says:

    Mr Cheap,

    I was a big book buyer as well for a number of years. Now I just pick up a couple a year now to finish up series that I’m buying.

    Sarlock,

    I know what you mean. Yes the library has some issues (like long waits for some discs), but it is free so it’s worth it.

    Tim

  4. Retired Syd says:

    Real Estate. I know I’m not supposed to say stuff makes me happy, but real estate does. Each home I’ve lived in has had a special place in my heart. Not just a roof over my head, something I connect to. A place that houses my happy memories.

    And as Sarlock mentioned, I have always been lucky enough to be repaid many times over when moving on to the home. So I don’t really view it as a splurge.

    Eating out, that’s a splurge I enjoy and will never get that money back!

  5. In the words of an ex-athlete, I spent 90% of my money on drugs, women and cars. The other 10% I just wasted.

    Seriously, books. Can’t put a price on knowledge.

  6. Rob says:

    The 20k extra you spent for a home you’ll never want to move from will save you at least that much in real estate fees over your lifetime. Not moving is a great way to save money.

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