Still incurring any money wasting spending?

[Moscyn]

Having achieved FIRE status, would have thought I have wised up on my spending habits but yet I still incur some money wasting spending occassionally. Thankfully, I have wised up and cut out unnecessary expenses like bank/credit card charges and some insurance premiums but still need to curb some spending habits. Here are some of my recent unnecessary spending (which unfortunately has some relation to my ER status):-
1. I hurriedly enrolled myself in a series of French classes (paid in advance and non-refundable) but because I was travelling quite often, I only managed to attend 30% of the classes and finally dropped off. In hindsight, I should have known that there would be more opportunities for frequent travel and should not have rushed into registering for the classes so soon.
2. Clothings and shoes and bags - with extra time on my hands and the excuse of "I need a complete casual wardrobe to replace my work clothes", I buy too much and have unworn clothings in my wardrobe.

Any you wish to share?

[dm]

I bought an airplane.

[Walt34]

Quote:

Originally Posted by dm I bought an airplane.

That's not wasteful, that's necessary for mental health.

Like all the photography stuff I bought.

[dm]

Quote:

Originally Posted by Walt34 That's not wasteful, that's necessary for mental health. Like all the photography stuff I bought.

True, not wasteful, but maybe a bit excessive. But you have to have something to do all day.

[DougViages]

I have not played golf in 25 - 30 years, yet joined my brother's country club after our relocation to the Charlotte, NC area. I really don't know if I like the game, and I'm taking lessons with the club pro. I view it as a $9,000/two year experiment.

One of the main reasons for joining was for my DW and I to meet people. That has been very slow at the CC but we have met lots of folks in other ways here in NC. Overall the move has been great and we are quite happy.

[frayne]

Motorcycles, guitars/amps, golf clubs and green fees but as Walt says, it is for my mental health and probably a helluva lot cheaper than a shrink.
Seriously though, just because you spend a few bucks on foolish things, it isn't the end of the world, one has to have enjoyment in life and if spending money foolishly gives you pleasure, so be it as long as you don't run out of money, and how do you like that for a run on sentence ?

[Alan]

Still incurring any money wasting spending?

For the 3rd consecutive year since retiring our expenses are up by over 30% but we don't consider it wasteful as it is all intentional.

Like the OP, in my first year I signed up for an activity that conflicted a lot with other things that I wanted to do, but was lucky that it was a volunteer thing and didn't cost money. Despite all the preparation I hadn't realized how time consuming my retirement activities would turn out to be

[veremchuka]

Quote:

Originally Posted by frayne Seriously though, just because you spend a few bucks on foolish things, it isn't the end of the world, one has to have enjoyment in life and if spending money foolishly gives you pleasure, so be it as long as you don't run out of money

I think that sums it up 100%!

[W2R]

As long as you aren't exceeding your planned spending level, I don't think there is a problem.

Few of us can claim to have made wise choices in our purchases 100% of the time. Just yesterday I reviewed a product on Amazon and gave it only two stars. It cost me $40, too, but was probably worth only about $5 to me.

Here's another example. When I signed up for digital TV for the first time ever, back in 2010, Cox Cable required that I include HBO and Showtime (which were to be free) if I was to get HDTV for my big new plasma TV. Apparently the "free" part only lasts a year and after that, you can get HD without them, but they did not tell us this. When the year was up, they started charging me for HBO/Showtime (which I never watched), and it took me almost 3 months to go in and have them taken off my cable access and bill. So, I guess that was a waste of $100 or so.

Am I chastising myself over this? No way!!! I had more important things to do, like go to the gym, play video games, spend time with F., post on the forum, and so on. My spending is well within what was planned, and as far as I am concerned I can use that money for anything I wish, sensible or not. I try not to waste money but I am not going to stay up nights worrying about it; I am human, after all.

[FIREd]

I have been wasting money on a few things lately, i.e. Gong Fu Cha accessories and new clothes. Not a huge amount of money, but quite superfluous.

[foxfirev5]

A boat which is sitting in my front yard on blocks due to no rain and low water level. Pay to put it in, take it out, winterize, storage, repeat process next year.

[Mulligan]

Quote:

Originally Posted by W2R As long as you aren't exceeding your planned spending level, I don't think there is a problem. Few of us can claim to have made wise choices in our purchases 100% of the time. Just yesterday I reviewed a product on Amazon and gave it only two stars. It cost me $40, too, but was probably worth only about $5 to me. Here's another example. When I signed up for digital TV for the first time ever, back in 2010, Cox Cable required that I include HBO and Showtime (which were to be free) if I was to get HDTV for my big new plasma TV. Apparently the "free" part only lasts a year and after that, you can get HD without them, but they did not tell us this. When the year was up, they started charging me for HBO/Showtime (which I never watched), and it took me almost 3 months to go in and have them taken off my cable access and bill. So, I guess that was a waste of $100 or so. Am I chastising myself over this? No way!!! I had more important things to do, like go to the gym, play video games, spend time with F., post on the forum, and so on. My spending is well within what was planned, and as far as I am concerned I can use that money for anything I wish, sensible or not. I try not to waste money but I am not going to stay up nights worrying about it; I am human, after all.

NEVER again! I fell for that free trick 10 years ago, and have never forgot it. That is their whole plan is to get it on your bill free, then start charging you later hoping you don't call and cancel it. They offer free Showtime all the time and I flat out refuse. They act surprised and want to convince me, but I flat out tell them its a trick to screw me down the road to pay for something I don't want or use.

[W2R]

Quote:

Originally Posted by Mulligan NEVER again! I fell for that free trick 10 years ago, and have never forgot it. That is their whole plan is to get it on your bill free, then start charging you later hoping you don't call and cancel it. They offer free Showtime all the time and I flat out refuse. They act surprised and want to convince me, but I flat out tell them its a trick to screw me down the road to pay for something I don't want or use.

When I originally signed up for digital TV, I went over to Cox Cable in person and they completely refused to sign me up for the HDTV channels at all unless I accepted free HBO/Showtime! I am in awe that you got away without it somehow. I guess I need to practice a scary face, go there armed, or something.

[BellBarbara]

Great thread. I LOVE to decorate and can think of decorating improvements easily all over the house. It has been a struggle to stop spending so much on fabric, drapes, side tables, tile, etc. UGH

July was the first month I did not buy anything. I basically did not go to stores at all except the grocery.

I miss it! Not sure I can keep this up.

[Moscyn]

Quote:

Originally Posted by frayne Seriously though, just because you spend a few bucks on foolish things, it isn't the end of the world, one has to have enjoyment in life and if spending money foolishly gives you pleasure, so be it as long as you don't run out of money, and how do you like that for a run on sentence ?

Well said! I just feel silly with wasteful expenses - you know, hard earned and invested money and just not making full use of it. I do spend a lot on golf equipments, massages, travelling (especially, though I've yet to buy an airplane! - I did try a balloon ride - does that count as expensive transport?), etc. Having worked hard for years, I feel enjoying interesting things during retirement within my spending limits gives me pleasure indeed. Just hope I will enjoy all my future spendings and not buy mistakes.

[frayne]

Just a side note here, our culture and conditioning almost our entire lives revolves around ownership and consumption of "things". One of the things I learned late in life, kind of an epiphany if you will, things ain't all that important*.



*Except for motorcycles, guitars/amps, and good golf equipment.

[traineeinvestor]

Quote:

Originally Posted by frayne Seriously though, just because you spend a few bucks on foolish things, it isn't the end of the world, one has to have enjoyment in life and if spending money foolishly gives you pleasure, so be it as long as you don't run out of money...?

Yep...by the time the kids find out that I've squandered their inheritance the worst they'll be able to do is use my ashes as kitty litter.

[JonnyM]

Quote:

Originally Posted by frayne *Except for motorcycles, guitars/amps, and good golf equipment.

+1 on Guitars & Amps, pretty much potato chips

[coalduck]

Quote:

Originally Posted by foxfirev5 A boat which is sitting in my front yard on blocks due to no rain and low water level. Pay to put it in, take it out, winterize, storage, repeat process next year.

I just sold my boat a month ago after three years of the exact same thing. Now I've got a boat lift to get rid of. "The two happiest days of a man's life - the day he buys a boat, and the day he sells it".

[Nodak]

I have had the odd unexpected expense. My McIntosh stereo amp quit after 40 years; a new Mc amp was way too expensive so I shipped it back to them for repair. It is now on its way back at a repair cost of $433, almost what I paid for it new in 1971. It will probably out last me now. I have to have good stereo sound.