I want to go spend some money !!

[goodguy1_64]

Good evening all,

Long time reader, very occasional poster here looking for something ( comments, condemnation, agreement, etc)..

I've been mostly, sorta, semi, 3 quarters retired since September 2005..

I've got some hobby stuff that I do that's been bringing in ~$15,000 per year for 6 weeks of my time ( spread throughout the year)

My DW 43, and DK's 13, 15, 17 and I have been living on this plus 1.5% of our savings.

This year, my oldest starts college locally, so I've been stashing all earned $$ so that I can cashflow the $8k that it'll cost starting in August.

I'm feeling deprived and I really want to go out and spend some money!

I'd really love to surprise DW with the 2002-2005 Ford thunderbird that she's lusted after for a number of years.. or go spend some $$ on something else..

But...

My frugal side keeps pushing me back..

(Spendthrift Devil)

"Come on goodguy, loosen up those purse strings a little, you've been doing so well coming in under budget."

(Frugal Angel)

"Now, now goodguy, there's no reason to waste money on that item. Just think what those dollars will be worth in 20 years if you invest them"

(Spendthrift Devil)

" Ya right, Angel is wanting you to save and invest for a time that you won't be able to enjoy the fruits of your labor.. Come here.. have a bite of this apple"

(Frugal Angel)

" Remember that you have 2 more precious offspring going off to college soon as well..."

And on .. and on.. and on..


goodguy

 

[REWahoo]

 

[bbbamI]

I'm feeling deprived and I really want to go out and spend some money!

Then do it. Adjust your budget accordingly and be good to yourself. We're here only once...as far as I know.

 

[Achiever51]

how about a nice family trip before the kids go off to college?

 

[goodguy1_64]

Lol

 

[SteveR]

"Where does he get those wonderful toys?"


Goodguy, only you can answer your own question. Nobody here has all the required information to know what you should or should not do. Saving is w*rk and spending can be fun. Life is about balance but when it comes to saving-spending; save a lot but spend only what you can truly afford.

 

[RonBoyd]

Why isn't the lusty DW involved in this decision? ...or... is she the Angel?

 

[dex]

I understand what is driving you. You have been frugal all your life. Nothing wrong with that. You have provided for your family and can give money to others. I do not think you have any overriding fears about not having enough money.

You may need to find a new mindset that allows you to spend some money, as you say.
You might try:
1. setting up a total budget and forcing yourself to spend UP to that amount
2. Imagine you are at the end of your life - Do you want to regret doing somthing because you didn't spend the money?
3. Start spending it on yourself and others and watch how they react - start small - buy some new clothes; get dressed up an go to a nice restaurant.

 

[Zoocat]

It's a matter of establishing your priorities. After the necessary expenditures, what's most important to your family? It's hard to tell from your post how much leeway you have in your budget, but IMHO I doubt your wife really wants that T-Bird at the expense of keeping your budget in balance with some room to spare. But I may be wrong.

For me, I feel most comfortable with a cushion in my budget in case things don't go the way I think they should. After that I feel free to spend my money on whatever is most important to me.

 

[kumquat]

You only live once, might as well live well.

 

[Nords]

I'm feeling deprived and I really want to go out and spend some money!
I'd really love to surprise DW with the 2002-2005 Ford thunderbird that she's lusted after for a number of years.. or go spend some $$ on something else..
But...

Heck, if you felt good about it then you'd have already registered the car.

Which brings more value to your life-- the "Whee, there it goes!!" part where you spend all the money, or the "Whee, thanks honey!!" part where your spouse unwraps the T-bird? Or is there something else that makes you feel you're getting value for your spending?

Maybe it's worth fencing off $10K-$25K as "green waste" spending and then having a series of spouse discussions about what to do with it.

You might get the same value feeling from buying a good value stock, donating the money to charity, spending it on a family activity or home renovation... all of those have worked well in the Nords ohana.

 

[goodguy1_64]

Thanks all, I appreciate the comments. let me attempt to clarify a bit..

REWahoo, thanks.. that GIF is perfect..


I keep thinking about the fact that DW is 43 and I am 44 and that we have so much more time.. ( to live hopefully)

1) -- I don't want to outlive our savings

2) -- I/We spend very little due to # 1, due to habit, and due to the fact that we have 1 child just going into college an 2 more after that.

3) -- Our spending has been < 2% of invested savings and I'm always looking to reduce the % by earning a little $$ through my hobby stuff.

4) -- DW has been an incredible asset in the LBYM lifestyle. I haven't worn a piece of clothing that cost more that $1 in more than 10 years. And you wouldn't know it. DW is an avid garage/estate sale guru that finds name brand clothing for less than 5% of new prices.

5) -- I keep hearing about friends / family / acquaintances / and other random folks that "kick the bucket" for various reasons between the ages of 50 and 65.

6) All of the modeling that I've shows that my money will last me well past my 95th birthday

7) I'm running out of thoughts right now... more tomorrow



goodguy

 

[two4theroad]

Once your modeling shows 100% survival on $XXX budget annually, the rest is gravy! Either spend it and enjoy your life, (you deserve it and so does your family) or scrooge your way to old age. I had trouble with the same feelings too but now think of the angel as telling me to be kind to my self and family, to enjoy the fruits of our hard earned labors and saving and the devil to be a scrooge advocate telling me I always need more, more, more in my savings. But I do stay within budget, even though the budget is larger now than when we were working.
2fer

 

[Dreamer]

Does your wife like surprises? Would she want to be involved in picking out the car that she has lusted for all of those years? Has she by any chance changed her mind and decided that she likes a different car by now? These are questions that have occurred to me. However, I am not big on surprises and like to have my hand in the decision making. Your wife may be totally different. Good luck.

 

[W2R]

So, did you buy anything this weekend?