Please Blow Some Money

It occurs to me that some people have problems with personal finance bloggers who blow money on specific events, experiences or things.  People tend to mock those that spend money on:

  • The dream wedding for $20K
  • That huge trip that that didn’t need for $7.5K (yep that would be me this year)
  • The new car for $20 to $30K (I also did something similar last year)
  • The overly large house for an extra $50k

Yet are any of these things wrong to spend money on? The answer like many things in life…it depends.  Are the people in question in good financial shape (low or no debt, good savings)?  Did the pay for the item in cash with no extra debt?  Do they already have a firm savings plan in place for their life goals like retirement?  And perhaps the most important question of all….do they REALLY want that item or experience in order to make them happy?

Frankly I don’t really care what people blow their money on if they are being generally responsible with their financial lives (those without any savings, high debt and buy on credit are an entirely different matter).  But if the responsible people think the spending will make them happy and can afford it…go hard and blow that money.

Why? Because the other end of the spectrum away from blowing money is also wrong.  Being a miser with your money won’t win you any prizes or friends and certainly won’t make you happy in the long run.  You have to both plan for the future, but remember to live for today as well.  While I will fully admit that I personally don’t agree with everyone’s particular choices on blowing money, that is fine…after all I’m not spending the money, they are.

In my case, I went over board initially with saving money, I cut too much of our spending, but I didn’t realize it right away.  Yet after we increased our spending a little bit higher I can say I was much happier and less worried about the little spending decisions.  Worrying about buying the odd cup of coffee wasn’t worth the effort when you do it perhaps twice a month.

Personal finance is personal.  We don’t live each others lives, so do try to keep that in mind before we mock others.  So what did you last blow some money on?  It doesn’t have to be big, sometimes the small stuff is just as fun.

8 thoughts on “Please Blow Some Money”

  1. I’ve been happily “overspending” all summer and have even stopped looking at my bank tracking breakdown more than maybe biweekly? Last time I looked, I’m spending about $500-$1000/month more than my dividend etc income. But I’d worked a week or so in June to cover for someone that I hadn’t counted on and that covered the over-expense for awhile so I wasn’t worried (and I had a good gain on a stock that I sold). I’m going back to work on a specific project for a month or two in about a week and will earn enough to cover a whole lot of months of over budget expenses. I’m not sweating that small stuff anymore. It was making me stingy and I hate that feeling.

    Stuff I’ve bought/done lately hasn’t been extravagant but very fulfilling:
    – clothes (lost 20 pounds being off work and more active the last 3 months)
    – gear and games for the Wii
    – national park pass
    – new set of cast iron cookware
    – new gear for the dog
    – more gas going out and doing stuff
    – significantly increased restaurant bill
    – complete set of wine making equipment (need to get bottles)
    – new fishing gear
    – more expensive food (category has gone up about 40%)
    – lots of flower bouquets for myself

    Christmas present for myself will probably be new living room furniture and an ipad for the kids. And a week ski holiday during March break.

  2. My last big spend was on some caviar 🙂 That’s why personal finance is so personal. Even those without any savings, have high debt and buy on credit like myself can still have valid personal reasons that make us blow money on things we don’t really need, but make our lives better overall 😀

  3. This has been a year of some rather large purchases for us. This being the last year of work for me, my wife and I decided we better buck up now for while we have two incomes coming in . 5k for new flooring, 4k for new kitchen appliances plus a few more things. Fortunately, we have access to a free place to stay in Mexico, so we can spend a month there for around 2k. We still are on track to save about 70k this year. Will miss dual incomes once I hang em’ up.

  4. I agree, it’s fine to spend money on the things you value–just don’t spend the money on the things you don’t and you’ll be even. I did all the things in your post, but never got a diamond wedding ring or had kids. There, even-steven.

  5. I agree. What’s the point of having money if you don’t spend any of it? My inlaws regularly go and spend (and in my opinion, waste) money playing at the casinos but what do I care, it’s their money and they’re not asking me for any either. I say go have fun. Just because someone else values something you don’t (ie travelling, or eating in high end restaurants) doesn’t make those choices less valid. Just different. I think if my wife and I bought a boat, that would be very irresponsible of us. If Brad Pitt and Angelina buy a boat? Yeah I think they can swing it. YMWV.

  6. The point (for me) to having money is so that it can work for me and generate money for me to live on. If I spend it (or at least too much of it unnecessarily), it won’t be available to work for me instead of me having to work for it.

  7. Completely agree. People are different and values and interests vary significantly from person to person so one can’t really judge another based on where they choose to spend their nest egg. Be frugal in the areas that are not as important to you, and indulge in what is. If you want to retire at 35, great! If you want to experience as much as possible now whilst maintaining a good stash for later, all the power to you! Sometimes I worry people may find themselves so concerned with the future that they forget to actually live a bit now.

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