Discretionary Spending - Can It be Irrational?

[Moemg]

...particularly if you have someone to do the driving and handling the drain hose. Oh, you still need to be the flagwoman with a walkie talkie to direct the backing operation.

Since I spent several years assisting with colonoscopies I might do better handling the drain hose !

 

[Moemg]

I just love the red and white awning ! Help ! I think I am turning into a Stepford SO that likes small spaces .

 

[BunsGettingFirm]

I paid $2,200 for 6 months worth of dance lessons at Arthur Murray when I could easily have paid $400 for 6 months worth of group dance lessons at another school, but the Arthur Murray school has many more hot female instructors and a younger crowd. Discretionary spending! :0

 

[NW-Bound]

Since I spent several years assisting with colonoscopies I might do better handling the drain hose !

Gosh, what was I thinking?
I salute all people in the medical profession for what they do.
Just visiting relatives in hospitals and nursing homes took the joy of living out of me. It is too depressing for me.

 

[W2R]

I paid $2,200 for 6 months worth of dance lessons at Arthur Murray when I could easily have paid $400 for 6 months worth of group dance lessons at another school, but the Arthur Murray school has many more hot female instructors and a younger crowd. Discretionary spending! :0

That sounds like a great way to handle your discretionary spending! After all, the point is to have fun!

 

[NW-Bound]

I paid $2,200 for 6 months worth of dance lessons at Arthur Murray when I could easily have paid $400 for 6 months worth of group dance lessons at another school, but the Arthur Murray school has many more hot female instructors and a younger crowd. Discretionary spending! :0

That may lead to even more discretionary expenses like dinners, theaters, etc... But while having fun, who's counting?

 

[Rambler]

Even the words discretionary spending mean different things to different people. For example, for us, travel is not discretionary...its mandatory. Otherwise both of us would go nuts, and we may never get to see our kids. That's part of living in an overseas, overcrowded, uncomfortable city (my opinion, not everyone will agree).

Our FIRE budget spreadsheet also contains two categories of "mad money": one that we call pocket money (his and hers) and one that we call hobby money (his and hers). We also have a travel budget, but like I said, that is not discretionary now, and likely won't be in FIRE either, due to our two kids being likely to live in disparate places.

R

 

[BunsGettingFirm]

That may lead to even more discretionary expenses like dinners, theaters, etc... But while having fun, who's counting?

Yeah, thanks for reminding me. Before the said dinner, theater, etc., I first need to upgrade my car from an 8-year-old minivan because I don't think any of these dainty dancer types are going to want to be seen in a porky minivan.

 

[NW-Bound]

Gee! Though yours is still newer than my 95 minivan that I bought to haul the kids when they were little (they are 20 and 23 now), it may prevent you from having to worry about expanding your discretionary expenses, if that is a worry.

What's a single guy doing with a minivan, for god's sake?

 

[WhoDaresWins]

I rule this roost of one(other than Lucky the dog who dines as well as I do and sleeps on the same high thread count bedding). I spend money on whatever I want, no questions asked. This sounds rational to me.

 

[Meadbh]

Since I spent several years assisting with colonoscopies I might do better handling the drain hose !

 

[Sarah in SC]

I confess to purchasing a pair of Lucky jeans from the Lucky store on swanky King Street in Charleston for $120. Not on sale, not even near to being on sale.

But, according to my fan club of one (DH), they look marvelous! They are a splurge for sure, as I'd never ordinarily spend that kind of money on an article of clothing.

 

[audreyh1]

I'm here in the Smoky Mountains where the RV camping rate is $45 a night!!!! DH is still reeling in shock! I keep reminding him that ALL THE CAMPGROUNDS in the area charge this rate. Besides, for the last 7 weeks we have only paid on average $95 a WEEK for camping which is very much on the cheap end.

At least in the current place gives you the 7th night free and we are in a lovely place with an awesome view and just 20 mins from Cades Cove.

Oh - the original topic - discretionary spending does not have to be justified or rationalized or even "responsible". It's all about pleasure, enjoyment and fun.

Audrey

 

[REWahoo]

I'm here in the Smoky Mountains where the RV camping rate is $45 a night!!!!

Jeeze Louise, that must be a swanky piece of real estate you've got those new Goodyears parked on. Good thing the market has improved some in the past few months, eh?

 

[audreyh1]

Jeeze Louise, that must be a swanky piece of real estate you've got those new Goodyears parked on. Good thing the market has improved some in the past few months, eh?

All the real-estate in the foothills of the Smoky Mountains is swanky/expensive. If you want to park in the area, you gotta shell out the $$$. No way around it.

Don't have the new Goodyears yet! Have to wait a week for delivery. Might as well wait in style....... Hope to get some cycling, hiking, kayaking in while we "wait".

Audrey

 

[Walt34]

One could say that any spending beyond the basics of food (rice and beans) clothing (from Goodwill) and a mobile home is discretionary. It's about values. I remember a conversation with my ex in which she was impressed that her DH2B took her to NYC to see a Broadway show. Big whoop. I've never seen a Broadway show because it simply has no value to me. DW also yawns at the thought.

But last December I spent $12k on a motorcycle, and over another grand or so for helmets and riding gear, and I don't even want to think about what I've spent on radio control model airplane stuff, spending that is incomprehensible to many other people. But it's fun for me.

 

[Delawaredave5]

I have several antique cars and motorcycles (drivers - nothing fancy). My wife and I differ on the "accounting".

I spent $3,000 this summer on another car (1951 Packard). She considers that a totally discretionary expense - and, if she wanted to, she should be free to spend $3,000 on clothes.

I consider the initial purchase a "capital asset" on our balance sheet. If later sold, the gain/loss is the expense/revenue on the "income statement". Obviously, tools, insurance, storage, fuel, etc are current expenses.

When finance discussions get testy, she brings up the initial purchase price of all the "toys" I bought over the years - cars, boats, motorcycles.

All the vehicles / boats I've sold I've gotten back near what I paid, some of the cars appreciated a little with restoration I did. So my net cost for the old car/boat/motorcycle hobby has to be near a wash for 20 years of playing....

She adds things up and says I spent well over $30,000......

 

[Culture]

All the vehicles / boats I've sold I've gotten back near what I paid, some of the cars appreciated a little with restoration I did. So my net cost for the old car/boat/motorcycle hobby has to be near a wash for 20 years of playing....

She adds things up and says I spent well over $30,000......

Ha! I have the same problems with guns. With a little care and patience, you always get back what you spent. My wife completely ignores the recovery, and only notes the purchase price.

Now motorcycles (dirt) are a different story. Beat the c%^p out of a dirt bike for three years (and that is what makes them fun) and you get about 20-25% of what you paid.

 

[W2R]

When finance discussions get testy, she brings up the initial purchase price of all the "toys" I bought over the years - cars, boats, motorcycles.

Seems fair to me!

All the vehicles / boats I've sold I've gotten back near what I paid, some of the cars appreciated a little with restoration I did. So my net cost for the old car/boat/motorcycle hobby has to be near a wash for 20 years of playing....

She adds things up and says I spent well over $30,000......

Ah, but the trick for you here, is that when you sell one you need to indicate that you are simply exchanging that toy for another, so the money that you get and then spend on another toy doesn't count!

 

[kumquat]

Since I spent several years assisting with colonoscopies

Did you ever find the patient's head there?

 

[Moemg]

Did you ever find the patient's head there?

No but in some parts of the country I am sure they would have .

 

[BunsGettingFirm]

Gee! Though yours is still newer than my 95 minivan that I bought to haul the kids when they were little (they are 20 and 23 now), it may prevent you from having to worry about expanding your discretionary expenses, if that is a worry.

What's a single guy doing with a minivan, for god's sake?

I also had a 2 seater convertible up to 2006. Then I had to sell it because I couldn't drive 2 cars to grad school. Before that, I could always to do my Clark Kent and Superman switcharoo anytime I wanted. Now, I'm porky van 100% of the time, not so much.

Speaking of the car, now that CFC has dried up inventory and kept the sales people from starving, dealer are getting a little high and mighty. I may have to wait another 4-6 weeks to see if better deals come along. My suspicions is that deals will reappear.

 

[NW-Bound]

I also had a 2 seater convertible up to 2006.

It's none of my business, but that sounds more reasonable. You don't seem like an eccentric geek to me.

 

[Amethyst]

Depending on how you go about your personal business and what your aspirations are, investing in fine designer clothing and expensive grooming may help you to enter and move in certain circles where you may meet an SO who is capable of providing you with FI at a far earlier age than you could get it on your own! Can the same be said of coin collecting??

 

[Meadbh]

I have several antique cars and motorcycles (drivers - nothing fancy). My wife and I differ on the "accounting".

I spent $3,000 this summer on another car (1951 Packard). She considers that a totally discretionary expense - and, if she wanted to, she should be free to spend $3,000 on clothes.

I consider the initial purchase a "capital asset" on our balance sheet. If later sold, the gain/loss is the expense/revenue on the "income statement". Obviously, tools, insurance, storage, fuel, etc are current expenses.

When finance discussions get testy, she brings up the initial purchase price of all the "toys" I bought over the years - cars, boats, motorcycles.

All the vehicles / boats I've sold I've gotten back near what I paid, some of the cars appreciated a little with restoration I did. So my net cost for the old car/boat/motorcycle hobby has to be near a wash for 20 years of playing....

She adds things up and says I spent well over $30,000......

DD, if you ever visit British Columbia, you must visit the antique car museum in Summerland. Nixdorf Vintage Auto Showroom - Passionate Affair

Here are some photos I took there: