help me chill out

[RenoJay]

I can ER, but choose to keep w*rking because I enjoy what I do (sales) and it is not very time-consuming or hard. My income covers my expenses, and I enjoy the feeling of my assets continuing to work for me rather than depleting.

I just found out I'll be receiving annual gifts of $20k/year for the next 10 years. This is "bonus money" and my concern is that my frugal ways will make it difficult for me to splurge a little.

I'm looking for suggestion, psychological tricks I can play on myself, etc. to help me really enjoy this found money rather than just sticking it into the bank account to be used for normal day-to-day expenses.

Thanks.

 

[Senator]

Strippers?

 

[MBAustin]

Put it in a separate bank account and put a plan together at the beginning of each year on how to spend it so the balance is zero at the end of the year. Go through your bucket list and pick things to do (preferably) or buy. Keep adding to the bucket list as ideas come up. When all of them require more time off than your j*b allows, pull the plug.


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[Dash man]

One year use it for something special like a trip or a home improvement project. The next year give back and use it to help an organization of your choice.


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[old woman]

Remember the person giving it to you and honor their wishes for you. Would they like knowing you put it in the bank and didn't spend it or would they want you to take a cruise?

I used to give things like a beautiful coffee cup to an elderly woman but rather than drink coffee from it she put it in a china cabinet. Enjoy the good stuff you won't live forever.

I have quit smoking about 31 years ago and use the cigarette money for flowers for my yard, you can't even spend that much on flowers so it is like free flowers for life.

When you want to buy something like a $300 comforter set when a $100 set would be ok consider the extra two hundred a gift from the donor and get the one you want.

I agreed with myself to buy myself gifts so if I would buy you the best I can buy me the best too.

 

[LOL!]

Give the first installment away to charity. You could use a donor-advised fund if you want.

I think that will make you enjoy the subsequent installments better.

 

[daylatedollarshort]

I just used some of my part-time money to buy a subscription to an events list. It is billed as a Netflix for live events and we have a "happiness concierge" who suggests activities for us each week. It is pretty inexpensive per ticket actually since we are are semi-retired and can attend at least an event or two each week.

Other than that I also save most of my part-time earnings. I like working part-time. I enjoy the extra money, brain work, increased financial security and am okay with leaving whatever we don't need to the kids and charity.

 

[rayinpenn]

Buy a travel trailer and get out and see the country...
Buy a Harley and go for long drives...
Buy a small home in the country as an escape...


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[Sasset]

I like the idea of doing something or buying something that you know the gifter would want you to do or have. It will help you think of them. The gift I received has been earmarked for travel after retirement as that is what I know they would want. They were major retiree travelers - 6 continents and all 50 states for them! I hope to at least match them!

 

[Trawler]

I received an inheritance from my grandparents and felt guilty about spending all of it on a sailboat that was on my bucket list. Have had boat for 12 years and have a great time traveling on it, learned a lot and have met many great friends. I am sure the grandparents are happy that I did this as it has enriched my life. I am sure if I was not already financially independent they would have like to seen their gift to me help me become that way so I could be free.

 

[Bestwifeever]

Slot machines.

 

[bclover]

Strippers?

lol, my 21 year old who has two "dancers", he'd like made American citizens, no questions asked


Ironically Senator all my life I wanted to treat myself to a pair of Christian Loubatins shoes, I call them "stripper" shoes because they have 4-5 inch heels and are very expensive.


I finally brought a pair. now I have to work up the nerve to wear them to church.

 

[bclover]

I can ER, but choose to keep w*rking because I enjoy what I do (sales) and it is not very time-consuming or hard. My income covers my expenses, and I enjoy the feeling of my assets continuing to work for me rather than depleting.

I just found out I'll be receiving annual gifts of $20k/year for the next 10 years. This is "bonus money" and my concern is that my frugal ways will make it difficult for me to splurge a little.

I'm looking for suggestion, psychological tricks I can play on myself, etc. to help me really enjoy this found money rather than just sticking it into the bank account to be used for normal day-to-day expenses.

Thanks.

Is there something that is really frivolous that you always wanted to do

 

[Car-Guy]

Assuming you can afford to spend it now, how do you think you'll see it looking back when you are 90?

Strippers, [-]slot machines[/-] is a good suggestion.

 

[hausfrau]

lol, my 21 year old who has two "dancers", he'd like made American citizens, no questions asked


Ironically Senator all my life I wanted to treat myself to a pair of Christian Loubatins shoes, I call them "stripper" shoes because they have 4-5 inch heels and are very expensive.


I finally brought a pair. now I have to work up the nerve to wear them to church.

I like the look of these shoes, but I don't think I could deal with the attention I'd get wearing them. Especially in church! My church has old tile floors. With those heels, I'd be a 6 ft. + lady click-clicking down the aisle going up for communion.

 

[hausfrau]

I can ER, but choose to keep w*rking because I enjoy what I do (sales) and it is not very time-consuming or hard. My income covers my expenses, and I enjoy the feeling of my assets continuing to work for me rather than depleting.

I just found out I'll be receiving annual gifts of $20k/year for the next 10 years. This is "bonus money" and my concern is that my frugal ways will make it difficult for me to splurge a little.

I'm looking for suggestion, psychological tricks I can play on myself, etc. to help me really enjoy this found money rather than just sticking it into the bank account to be used for normal day-to-day expenses.

Thanks.

I dunno, I'd probably just save it and live life the way I normally do. There's no sense in spending money on stuff you don't want just because it's there.

 

[REWahoo]

I'm looking for suggestion, psychological tricks I can play on myself, etc. to help me really enjoy this found money rather than just sticking it into the bank account to be used for normal day-to-day expenses.

If I were in your shoes I know exactly what I'd do with a chunk of it each year.

I've always loved stories about 'mystery Santas' who anonymously hand people $100 on the street around the holidays. Think of the fun you could have - not to mention the joy you could bring - randomly gifting some obviously in need person an engraved likeness of old Ben Franklin, then walking away before they could react.

 

[T-Minus]

Here's how I recently "tricked" myself when I received a similar bonus. I bought a 10-year CD that, at the time, was generating 3%. So, a $20k investment would yield $600/yr or $50/mo. I let the $50/mo "buy" me a Spotify subscription ($10/mo) and an Adobe Creative Cloud for Photographers subscription (also $10/mo), and bank the rest. Believe me, I get a lot of use out of both - one enhances my hobby and the other gives me many hours of listening pleasure. And, as a bonus, the original amount is FDIC insured and untouched (except by inflation).

 

[Walt34]

I've always loved stories about 'mystery Santas' who anonymously hand people $100 on the street around the holidays. Think of the fun you could have - not to mention the joy you could bring - randomly gifting some obviously in need person an engraved likeness of old Ben Franklin, then walking away before they could react.

I'd probably do something like that myself, in addition to buying more camera gear. Any photographer knows you can never have too much gear.

 

[REattempt]

Have a serious or semi-serious medical issue, like I had. It will cure you quickly of the "stash it away" mentality. Seriously, enjoy your life, way too short. BTW, I spent my extra money on a custom bike, lost 45 lbs, and rode over 3500 miles this year.


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[foxfirev5]

I don't know how old you are but consider the fact that you may not enjoy your sales job in another decade or so. It's all about FI.

 

[amyj05]

I think everyone has had good suggestions. I think the Santa idea and slot machines are my two perosnal favorites, though. Just do something you will enjoy while you're able and healthy.

 

[papadad111]

If I were in your shoes I know exactly what I'd do with a chunk of it each year.



I've always loved stories about 'mystery Santas' who anonymously hand people $100 on the street around the holidays. Think of the fun you could have - not to mention the joy you could bring - randomly gifting some obviously in need person an engraved likeness of old Ben Franklin, then walking away before they could react.

+1.

Or spend a half day at your local children's hospital volunteering and your heart and purse strings will open right up to those in need.

 

[pb4uski]

I occasionally draw up a list of what I would do if $100k landed in my lap with the provision that I had to spend it. Much of it is simply updating and upgrading things we already have with newer models that would make things more convenient and some are new experiences.

 

[daylatedollarshort]

This article may help - you can use science to help you spend the money wisely:

Can Money Buy Happiness? - Scientific American

I picked the event tickets for some of my part-time money because they fall under the following categories commonly found as factors in happiness studies - many small pleasures, help support local arts and culture, new experiences for us every week, and nothing to buy to clutter up the house.

The rest you could consider donating if $20K won't make a difference in your life it is a huge amount to many - enough to pay for two tiny houses for homeless families every year:

Tiny Houses for the Homeless: An Affordable Solution Catches On by Erika Lundahl - YES! Magazine