Wish, Want and Other Temptations

On my quest to retire at 45 I’ve noticed the single biggest thing I still face very frequently is staying on the path of saving and not getting too distracted by “I wish..” “I want…” and other temptations.  Let’s face it there are a huge number of ways to spend your money and all of them have some appeal at some point.

One of my recent temptations was a lot in the same beach community as my parents cabin.  I thought “Oh, that could be nice.  My own place to get away and not have to be surrounded by family when I go!”  The issue of coarse is it is huge sum of cash to buy the lot and then build a cabin.  Then I would have to deal with a second set of property taxes, a second set of bills and then looking after the place.

In the end I decided not to.  Yet the temptation was there and I had to work it over in my head before I could say no thanks.  It is fun to play with this ideas, but don’t let yourself get seduced by all the good parts try to also consider the drawbacks to the situation as well.  It can often be an eye opening exercise when you realize your little dream has some pitfalls as well as good parts.

So how do you handle temptation and keep on your path?

2 thoughts on “Wish, Want and Other Temptations”

  1. Ugh…I have the cottage bug myself…really bad. I keep justifying it by saying that if the house and cottage, including mortgage, taxes, insurance still only require 25% of our gross income it’s ok. But is it really? We’re going to wait at least a year to see how we feel come winter when the temptation is less.

    For now, we’re putting the money we would be spending on the cottage mortgage & taxes into a high interest savings account to use as a down payment if it comes to fruition. Most importantly, it’ll help us understand how well we can handle (or hate) the payment.

    Delaying is the best way to avoid temptation.

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