So I just got back from a trip and things have been crazy busy. I saw my buddy J's art project on his blog and thought I'd steal the idea. He gets more exposure, I get a free blog post: a win-win I thought.
Then this morning some negative comments basically saying: how can you waste $48 cash on this painting? A perfectly valid question that did get me to thinking.
J had an artistic vision and to him it was worth $50. I get that. Moreover, I respect it.
We all have things other people think we "waste" our money on. When I have extra money, I buy clothes for example. I know friends who love to own every new movie that comes out or have a cell phone that costs more monthly then my phone bill and gym membership combined. Some of use like an expensive meal once in awhile or lunch with the gals every week. We would all spend $50 or more (per month anyway) on most of these things and no one would comment.
Cash on a painting? Maybe it's not your thing. And that's fine. I certainly don't expect people to like everything posted on this blog.
One thing I have learned in writing this blog is that there is not way to personal financial freedom. That's why there's so many personal finance blogs out there. And I think the personal finance gurus who tell you to live reasonably and splurge occasionally are the most right-on.
The excellent book "All Your Worth" has it down to a formula: needs 50%, wants 30%, and savings 20%. Working within those parameters, I've done fine and you can too. And whether you spend your 30% wants on coffee drinks or art projects is not for me to judge.
But I am curious, especially with the personal finance minded people out there: what do you "waste" your money on? (I mean waste to other people, not to you.) And if you feel a little talky, why do you do it?
Nicole: I hope I didn’t hurt your feelings with my comment yesterday but it just struck me as odd that you would advocate for creating art with dollar bills. Another thing I forgot to mention: isn’t it illegal to deface U.S. currency?
As for things I “waste” money on: I spend a lot of money at restaurants but I justify it by saying it is ‘quality time’ with family and friends.
My husband also spend a lot of money on skiing and ski equipment for our sons who are very serious ski racers. Some people might consider that a waste, but it is the focal point of our family’s life…our kids are racing at a high level and attending a serious academy dedicated to the sport.
I, too, spend quite a bit of money on clothes but I need to look professional for my job.
So there you have it: clothes, food and skis.
Take care,
Nancy
There are many, many things that I “waste” my money on. Rather than use the library, I use bookswap sites. I’m just paying shipping, but it adds up. Plus I buy books, and don’t often buy them used. Why? Convenience. No, it wouldn’t be hard to go to the library, and yes, I could just renew books I don’t get to, but I don’t want to.
I also have a full cable package – movie channels, DVR, etc. Again, it’s not something I need, but it’s something I enjoy.
I really do agree that there needs to be some balance in your spending. You need some frivolous things in your life – things you don’t need, but things you want that make you happy. And if you can afford it, so be it. Sure, maybe I bring my coffee in a thermos every day and can’t imagine being the person who hits Starbucks every morning. But maybe that person looks at me and thinks I’m crazy for not having a library card.
Hi Nicole, glad to see you made it back safe and sound! I thought the painting was great, although I also wondered if it was technically legal–no idea where the belief that it wasn’t came from, but it’d be interesting to look into. I suppose worse case you could always color copy the dollars or something, although who knows–that’d probably be considered illegal too!
You already know my spending habbits; I tend to splurge on clothes (although I prefer splurging during a great sale!), travel, and good food with friends. Hard to justify the clothing, but I rationalize the others as spending on experiences and quality time with people I love.
What do I waste my money on? Ridiculous dog and cat toys that only serve to entertain D and I and not the cats and dogs!
shoes. but good shoes. i have no problem paying $100 on a pair of Dansko clogs or more than that on a sturdy pair of boots. the money i put into quality shoes and clothes is justified because they last a long time. i’ve been wearing the same pair of black dansko boots for 4 winters — going on my 5th. but i take care of them, they aren’t over the top, they are simple and don’t go out of style and they’re so comfy! i have my eye set on a pair of $200 green frey boots for christmas. they’ll surely last me at least $10 years.
quality clothes are also something i “splurge” on though i hate shopping. but if you’re a good shopper you can find stuff at Reny’s or Marden’s even. i bought a $100 Anne Klein bathing suit at Marden’s last summer for $15! what a deal! my friend annie blogs about her shopping finds (www.mainestyle.com). i have sweaters that i bought in high school still hanging in my closet.
the other thing i spend my money on is traveling, but again i shop around. i would much rather spend the weekend with friends in NYC than buy needless things. lucky for me i have friends all over the country to visit so really it’s just a plane ticket i’m spending a lot of money on.
I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to
say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
Betty
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