I recently made a significant golf club purchase, buying a last year’s model of a club that dropped over 50% in price (an R1, replacing my 9-year-old R5 for any golfers out there). Anyone familiar with golf will know that there will probably be a minimal change to my scores, but there is always the “new” thing coming out to entice a golfer. Like any junkie, I’m hoping this new club will fix the issues I’ve been having with my swing.
While at the golf course playing with one of my buddies, I was asked why I didn’t get the the newest model. Beyond the fact that I know there will be at best an improvement to my golf game, the cost of the newer, fancier club is almost 2.5 times higher than the one I got. My argument with the vast majority of these kind of frivolous purchases is that they are almost entirely unnecessary. Golf alone is kind of a ridiculous hobby to have, but it’s something I’ve done for 25 years and can’t see doing anything else in the summer.
My wife has been asked by co-workers in the past why she wouldn’t work on more of a part-time schedule, instead of working her current 40 hour work-week. Similarly, I get questioned about my moderate “cheapness” when it comes to using super-cheap golf balls or the use of “old” equipment.
While we have no debt, no major expenses, and a fairly cheap lifestyle. The way that we have achieved our financial goals thus far, and the way that we will continue to move closer to our final goal of financial independence is to keep our current path. Our path remains in making conscientious purchase decisions, and maximizing our earning potential over the next decade or so.
Much of my twenties was spent turning all of the money I earned into nothing all that useful to my future. My $150 golf club purchase that happened after 6 weeks of research and comparing prices pales in comparison to some of the toys I mindlessly threw cash at. I’m happier now, sticking to my financial plan and hopefully achieving financial independence. This plan doesn’t really work that well if I were to go back to my spending pattern I kept a decade ago.