Nervous about spending

[W2R]

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Originally Posted by NW-Bound But with travel, the experience is frozen in your memory. With a car, eventually it breaks down and needs repair. People often forget the past good memory, and are constantly reminded of the present problems. It can be like with a divorce; people tend to forget about the happy past, and only think of the current dispute.

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Originally Posted by RunningBum Travel isn't a guaranteed golden experience either. If you have bad weather hampering activities, an unpleasant hotel experience, get sick, lose something or get robbed, or have major travel delays, you're likely to have that frozen in memory, exactly like you say car problems make you forget the happier times.

For me, the dream purchase is not travel, or a car. For me, of course, it was my wonderful, comfortable, perfect-for-me little Dream House. Last summer the HVAC cratered and I had to have it fixed. Now, I have better HVAC than ever, which makes my Dream House even dreamier. So, after that initial sucker-punch-in-the-gut feeling, it didn't bother me at all that I had to shell out that money to get it replaced. I know that this house is even better than it was the day I bought it.

But yeah, I see what you both are talking about. No matter what our dream, there is always a possibility of temporary problems that can arise. Once they are resolved, we can let them go, forget about the, and instead just remember how wonderful the dream purchase has been, year in and year out.

Quote:

Originally Posted by NW-Bound People have different things that turn them on. A person would do well to know what he wants, and to prioritize his spending to get maximum happiness with his limited means.

Bingo! Now that's a quote to remember, and to me it's the key to LBYM. Know yourself, know what you truly want, and don't waste money on things of a lesser priority to you.

[Scuba]

Quote:

Originally Posted by daylatedollarshort He is looking at the big picture financially, running the numbers out and not focusing on one number. A retiree could have $200K debt and $10M net worth and another person could have no debt and $500K in the bank. I'd rather be the person with the debt and $10M.

+1
It was always my goal preparing for ER to build my net worth. DH and I at one time owned three leveraged properties, one of which was a rental, one vacation home that we also rented out, plus our primary residence. Several years ago we decided to decrease our leverage so we sold two of the properties. We also reduced our debt on the primary residence, but we still carry a mortgage (3.35% 30 yr fixed) and do not feel a need to ever pay this off. It's a very small percentage of our assets and the payment is a small percentage of our expenses. Keeping our mortgage outstanding has allowed us to build additional wealth and increase our financial security.

[Red Badger]

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Originally Posted by RobbieB Buy the sports car. Suze Orman is denied.

It is agreed. I have little use for people who are loud, opinionated, and generally irksome.

Get the ride. Your time on this rock is finite. I get tremendous pleasure wheeling my 2008 Miata around the Blue Ridge Mountains. Top down, Bose way up - - - it's therapeutic!

[Fedup]

Therapeutics! That's what I say about my oil painting class and it doesn't cost me an arm and a leg. Oops wrong thread.
Seriously, I can't stand Susie Orman.

[Walt34]

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Originally Posted by Fedup Seriously, I can't stand Susie Orman.

I'm not fond of her either but she does the people who need her advice a valuable service. Seriously, if someone making $20k a year needs to ask if she should borrow $4k to take an elf spotting class, that person needs someone like Susie Orman.

[Big_Hitter]

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Originally Posted by Walt34 Seriously, if someone making $20k a year needs to ask if she should borrow $4k to take an elf spotting class, that person needs someone like Susie Orman.

anyone should be able to spot elfs without paying; they tend to stick out

[Fedup]

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Originally Posted by Walt34 I'm not fond of her either but she does the people who need her advice a valuable service. Seriously, if someone making $20k a year needs to ask if she should borrow $4k to take an elf spotting class, that person needs someone like Susie Orman.

Are they real people serious or are they hired for this kind of show.

[Walt34]

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Originally Posted by Fedup Are they real people serious or are they hired for this kind of show.

I think they're real. When I was working I met a lot of people and often wondered who dressed some of them in the morning. Clearly they were too stupid to do it themselves.

The woman who wrote the "Dear Abby" column for years got that question often and she always said she never made anything up. She couldn't have because her imagination was not as good as the letters.

[exnavynuke]

Quote:

Originally Posted by Fedup Are they real people serious or are they hired for this kind of show.

Having become the default "go to" guy for personal finance issues for much of my friends and family (I have a related degree), I can say confidently that there are plenty of people who do need someone like that in their life. I can also say that there is a strong chance they'll ignore sound financial advice anyway and just go spend their money even after being told it's a bad idea. Fortunately, I've gotten pretty good about keeping my mouth shut when people ignore the advice they sought.

[daylatedollarshort]

Quote:

Originally Posted by RunningBum Travel isn't a guaranteed golden experience either. If you have bad weather hampering activities, an unpleasant hotel experience, get sick, lose something or get robbed, or have major travel delays, you're likely to have that frozen in memory, exactly like you say car problems make you forget the happier times.

Partly for that reason, having had all of the above happen on assorted past vacations, personally I'm more into the "many small pleasures" model of expenditures myself like in the article below:

"However, every time I pay over $3000 for us just to fly to Europe, I think "wouldn't we be happier if we went to a few more baseball games, ate dinner at a few nicer restaurants, and went to a few more movies instead of spending all of our travel funds on one vacation?"

Think about it, if you had some extra money to spend, which do you think would make you happier: a series of small, inexpensive purchases or one large, expensive purchase?"

Source:
Buying Happiness One Small Purchase at a Time

But I think a car that could be used on a daily basis for years or more actually falls into that category, too. DH is more into cars than I am and I would be okay with him buying a luxury vehicle, especially if it was a one time kind of expense.

[David3]

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Originally Posted by Chief322 Well I am going to put this to a rest. Everyone has been great. I don't golf, I don't live a lavish lifestyle, i don't have a vacation home, I put one son through college and our income more than covers our living expenses. i did pay off the Cadillac as it was bothering me to have that debt even though the interest rate was less than I was earning on my money. i ran the numbers through firecalc and I still have a 100% rate with the $50k reduction so I bought the car. My wife and I are looking forward to hitting the road next week to Nashville and ft Walton in it.

We need proof - pictures please

[Moemg]

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Originally Posted by daylatedollarshort Partly for that reason, having had all of the above happen on assorted past vacations, personally I'm more into the "many small pleasures" model of expenditures myself like in the article below: "However, every time I pay over $3000 for us just to fly to Europe, I think "wouldn't we be happier if we went to a few more baseball games, ate dinner at a few nicer restaurants, and went to a few more movies instead of spending all of our travel funds on one vacation?" Think about it, if you had some extra money to spend, which do you think would make you happier: a series of small, inexpensive purchases or one large, expensive purchase?" Source: Buying Happiness One Small Purchase at a Time .

I think this is a great way to look at things .We are getting to the age that travel is slowly losing it's appeal . We are going on a huge trip next week and after that it is small trips only for me .

[W2R]

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Originally Posted by Moemg We are going on a huge trip next week and after that it is small trips only for me .

Moemg, how exciting to be about to embark on a huge trip!! I know how much you enjoy travel, and I know that (being a retired nurse) you will be sensible and won't over-do. I hope you have a WONDERFUL time on your trip.

[ivinsfan]

Quote:

Originally Posted by daylatedollarshort Partly for that reason, having had all of the above happen on assorted past vacations, personally I'm more into the "many small pleasures" model of expenditures myself like in the article below: "However, every time I pay over $3000 for us just to fly to Europe, I think "wouldn't we be happier if we went to a few more baseball games, ate dinner at a few nicer restaurants, and went to a few more movies instead of spending all of our travel funds on one vacation?" Think about it, if you had some extra money to spend, which do you think would make you happier: a series of small, inexpensive purchases or one large, expensive purchase?" Source: Buying Happiness One Small Purchase at a Time But I think a car that could be used on a daily basis for years or more actually falls into that category, too. DH is more into cars than I am and I would be okay with him buying a luxury vehicle, especially if it was a one time kind of expense.

Well this who who we are turning into, appreciate the daily stuff.

A couple years ago we had to move our TV area and were watching TV on an "OK" but not really comfy loveseat.

My DH had a hernia repair and needed to sit around for a few days. On an almost impulse we caught a sale and bought 2 Hjellegjerde recliners, and they were WAY more then we planned on spending.

I don't think more then a week goes by without one of us saying, man I love my chair. That is always in the back of my mind when I start pricing travel.

[Scuba]

I like a mix. We enjoy many free or inexpensive things at home in So CA such as hiking, kayaking, SUP, having a picnic, and hanging out with friends. However we also have many wonderful memories from vacations we've been on. I wouldn't want to have to choose between one or the other.

[Shanky]

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Originally Posted by coveredbridge +1 You work your entire life to get to this point. This is the reward for all those years of frugality.

The reward for years of frugality is when you are in your grave with lots of $$ in the bank.

[aja8888]

Quote:

Originally Posted by Shanky The reward for years of frugality is when you are in your grave with lots of $$ in the bank.

Yeah, it's all about timing. I wish I knew when my last day was so I can set a schedule to "spend it down".

[Cronan]

Okay, since nobody asked, but I'm sure at least a couple are curious. What is the sports car that you bought? Was it a Corvette Convertible?

[NW-Bound]

Quote:

Originally Posted by aja8888 Yeah, it's all about timing. I wish I knew when my last day was so I can set a schedule to "spend it down".

When one is diagnosed with a hopeless disease, he may be too sad to think of spending any money. I would be.

So, one has to be spending some along the way and not wait till the end. When you see the end, it's too late.

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Originally Posted by Cronan Okay, since nobody asked, but I'm sure at least a couple are curious. What is the sports car that you bought? Was it a Corvette Convertible?

Some posters did ask for a photo. The OP does not want to be spotted on the street, I guess.

[haha]

Try as I may, I cannot equate spending more money with either a gain or loss in happiness. Looked at rationally, most travel sucks, unless home stinks really bad so you need some respite. When I was young with a young wife and family, money did give obvious pleasure and I was mediocre at best at saving money. I liked to make my family happy, because this also made me happy and because I loved them. I think in my late 50s and early 60s, when my kids were grown and launched, and my wife was former this all changed. My pleasures are cheap, and my satisfactions have nothing at all to do with high spending. Other than I figured out that it is good to have plenty, and to treat it very carefully because once I had stopped working, there was a big attached to my strong desire to have enough, which as most of you understand, means more than enough because no matter how many blogs you read or tools you use "enough" is just a guess.

I felt that the thoroughgoing financial conservatism that I encountered here meant that we tended to be stoics. And in some ways I think this is accurate, but the idea that one could spend himself to happiness is definitely not a stoic idea.

As an observation, being single is much cheaper than being married. Rarely does a single man go full spend on remodeling his house or condo or apartment. And spending a lot of money on dates, beyond what is intrinsically pleasurable to you is just plain stupid. Single women get just as lonesome as single men do. If a girlfriend wants an expensive trip, and she can pay for it, she can go. Do that often and she may be on her way out of your life, but all she is going to take is herself. Fade a wife's wishes and she may take herself, and a bunch of money, pension and house. Though loss always hurts, and most men do not like to lose loves, I can figure out which would be a bigger hit to me.

Ha