Anyone have money burning a hole in their pockets?

[audreyh1]

Money doesn’t burn a hole in my pocket. However, we have been gifting regularly, and at the beginning of this year we gave a “one-time” considerable cash gift to siblings. Just in time for Covid too, because a couple are pretty much out of work due to it.

 

[Jeb-NY]

We have doubled up on our cash donations to the local food bank and some other local charities that are being stretched. Besides getting take out on a regular bases from all our favorite restaurants we bought $100 gift certificates from 4 that we hung on the frig to use if/when things get back to normal for them and they are back making money again. If some go under it was a donation to help them out.

Did splurge on a new MacBook pro, and an upgrade of our sound system since we have been streaming a lot of music concerts. Also trying to hit the tip jars for the starving musicians putting on the concerts. Bought a few other toys but even turning off RMDs the money has been piling up. I will be doing a ROTH conversion and giving Uncle Sam a donation to get my taxes up to at least last years level or a little more.

 

[meleana]

No, but we have spent a lot more money eating out since we retired this year being there are limited things to do with this darn virus.


We had a little more money leftover after selling our family home and downsizing, so we bought a whole house generator, even though they say the power rarely goes out here.



In our other home we lost power regularly and for long periods of time and I didn't want to worry about it here, especially in the winter.

 

[harllee]

Money doesn’t burn a hole in my pocket. However, we have been gifting regularly, and at the beginning of this year we gave a “one-time” considerable cash gift to siblings. Just in time for Covid too, because a couple are pretty much out of work due to it.

What a nice thing to do for your siblings.

 

[zippy2020]

We have a fair amount of discretionary income and since we've not been able to travel, we just direct the $$$ elsewhere. I'd say the amount we spend on e-books has tripled, at least, LOL!

The charitable donations suggestions are good ones. We've been able to give much more generously and there are so many people in need right now. Food banks, for example, can do MUCH MORE with dollar donations than if you drop off a few bags of food, because they are able to buy at wholesale prices so $1 given to a food bank can be multiplied by 5x or 6x when they are buying - plus, they can purchase what's really needed/available.

The Red Cross and the Salvation Army are two of the best-regarded emergency organizations.

The United Way has established regional funds to help those affected by disasters.

Please don't forget the Humane Society and other pet rescue organizations. When evacuees lose their homes or are just barred from returning for a few weeks, their pets aren't always allowed in some shelters, and need fostering.

HTH.

 

[Aerides]

Ok I have a list:

Am taking my (still working younger) sister to a 5* resort for a visit to her in-college freshman daughter, my niece, next weekend. It's a 3 hour drive, we will enjoy the pool, fancy hotel and outdoor dinner, etc., and niece will join us for the afternoon. Sis doesn't know it's my treat, thinks we're splitting, so that will be fun.

Bought a new sofa, double what I was hoping to, but it's a good one for DH's back.

Getting a pool. Taking no prisoners on the upgrades. I'd resisted for years, but the beach closures pushed me.

I also am generous with local pet shelters. My mom writes a check to St Judes every time she has a good mammogram, I might start something like that.

 

[ArmchairMillionaire23]

I am getting to the point where we have too much spare cash that normally gets spent on general stuff we do normally and holidays.

Bottom line it is mounting up, we do not need it for day to day expenses and I feel the need to splurge ..... on something.

Anyone else feel the same?

Been looking for a cool looking vintage aluminum 4-person runabout boat all summer.
They've all either sold before we got a chance to see them or in one case the owner changed his mind and decided not to sell it at the last minute.
It's getting too late in the season for us to be able to use a boat since we had to scrape frost off the windows this morning so I guess we'll wait until spring (April or May) when the weather warms back up.

 

[audreyh1]

What a nice thing to do for your siblings.

Well, they are our heirs and we want to gift as we can during our lifetimes. And with the markets so high Jan seemed like a good time. Who knew it was going to end up being a disaster pandemic year when any financial cushion is much appreciated!

 

[Murph]

We have not purchased much since Covid started. Only a couple of "Blow that Dough" Moments when we replaced our whole AV system with an OLED TV, New Top of the Line HDD Equipped Media Player, and a High end AVR.

I am getting to the point where we have too much spare cash that normally gets spent on general stuff we do normally and holidays.

Bottom line it is mounting up, we do not need it for day to day expenses and I feel the need to splurge ..... on something.

Current thinking is a new Canon EOS R5 Camera and a couple of good "L" series Lenses. Also a new Motor Scooter for pottering around our Island could be in the cards. These would still be less than what we spend on a good Holiday. I would not normally splurge this much on such discretionary items, but as the title says, it is burning a hole.

Anyone else feel the same?

Yes, but I’ve taken to gifting to other family members.

 

[skipro33]

Yes, but I’ve taken to gifting to other family members.

I am grateful that I have family members to gift as well. Some anyways. There are some that maybe wish they had treated us better when things weren't so flush. But all in all, it is good to have family to spoil and share in the rewards we earned.
However, I'm not sacrificing my own desires either. New (to me) snow skis, splurging on higher quality produce and meats at the market, running my HVAC at the temperature I want it, a hot tub that is hot year round and soon an even bigger screen TV than the 70" I already have. (waiting for Black Friday sales). Generally a higher quality of life without actually acquiring more 'stuff'.

Friends and family really appreciate the hand-me-downs as well. I upgraded my power washer recently and my son loves getting my old one. I also love not having to cart the old one over there.

 

[pacergal]

No, Money doesn't burn a hole in my pocket.
We haven't traveled, but our travel budget is not as high as many here.
Grocery expenses have increased, though, but not that much!
Anything not spent is left in the account.
Usually gift kids at Christmas, so they may get more this year.
Donate to charity through out the year, they may get a boost at the end of the year too.

 

[Nick12]

In the summer I splurged and bought a non-stop roundtrip ticket on United from Orlando to NJ/NYC for $70. Planes arrived 15 min early on both cities. I still look for great deals.

 

[Toocold]

We have an account that steadily goes up every month as an emergency/travel fund. It's now at $80k because we haven't been able to book travel. Maybe I'll buy a new car.

 

[Green Papaya]

I bought a new car with anticipation of going on a long road trip. We have also donated to local food bank, Red Cross and Salvation Army. Do not want to buy anything at the moment because we want to de-clutter our house. Or maybe just a good photo scanner later.