October 16, 2018October 16, 2018 FOGA

Five Things I Will Spend Money On

Financial Independence, Money

I don’t like spending money, and I don’t mean on basic stuff like food and housing. Obviously, we need to spend money on that. I mean on nearly everything else. If I need new shoes (old ones have holes, are worn out, and are no longer appropriate for work) or new clothes, I will not buy them. My typical MO when shopping is to pick up everything I would like to purchase, rationalize why I do not need it (even if I do) and then put it back. And that’s on relatively low-priced things (under $50). When I have to spend well over $200 for something, I will freeze up and not do anything until I have thought of all the pros and cons. That’s even if it’s something I have been planning and saving to buy.

Basically, spending money, especially large amounts, gives me anxiety.

However, there are things in this world that money needs to spent on (sometimes big money) otherwise you will either end of paying for it later or living with regrets. As part of an exercise to calm my brain down for a planned purchase I made (more on that below), here are five things that I will definitely spend money on.

Home Maintenance

I cannot express how important this is. Just basic homeowner maintenance every year will save you from horrible and expensive repairs down the line. Nothing is worse than finding out that if you had only had annual maintenance on your AC unit, you would have just needed to replace one part. Since you didn’t, you have to replace the whole thing.

It also makes your home more attractive when it comes time to sell. After all, which home sounds better to you? The one that was kept up with and it in good condition or the one that has an inspector’s report a mile long?

Car Maintenance

Not sure about everyone else, but, where I live, you NEED a car to get around. My car breaking down means that I cannot get to work and, therefore, cannot make money. Regular oil changes and service on your vehicle can extend its life significantly and save you a ton of money in the long run.

Retirement

This is clearly a big one for me since it’s a big part of why I started this blog in the first place. Saving for your retirement has no downsides and only works to improve your life in the future. Not saving enough for retirement is detrimental since it means you will have to keep working for longer than you would like. Due to poor planning or unfortunate circumstances, some people are completely unable to retire. Others who can have to go back to work after only being retired for a short time. After working for over forty years, the last thing most people would want to do is jump right back into it.

Things That Save/Earn You Money

These are the things where if you were able to spend more, it would save you more in the long run. You can buy the washer and dryer set for $800 and be perfectly fine. It will last you for 5-7 years. Or you could buy the upgraded set that is $200 more, get more features, and it would last you for 8-10 years. I am all for not having to worry about for as long as possible. The same goes for the type of tires you put on your car, putting solar panels on your home (the energy company can end up paying you for electricity), and many other factors. It just depends on whether the savings/earnings outweigh the cost over time.

Yourself

As I am sure you gathered from earlier, I have a tough time with this. I have little problem spending money on others but ask me to spend it on myself, and not much happens. This is a horrible way of thinking. You are your most valuable resource. You want to and should invest time and money into yourself. When you invest in yourself, you improve yourself physically, emotionally, spiritually, and mentally.

Spending money on learning new skills and languages can turn into higher salaries in your career and greater fulfillment in life. Spending money on hobbies and bucket list items that make you happy is also awesome, especially if you can turn the hobbies into side hustles.

This goes double triple for your health. Going to the doctor yearly and getting your checkups can literally be the difference between life and death. Early detection is the best chance to beat diseases like cancer. And let’s not forget your mental health as well. Your life is always worth it. No ifs, ands, or buts about it.

For me, I have been budgeting for a new camera for months.

 

I love photography and have been wanting a real camera for years. Unfortunately, the cost of one was always too much for me to rationalize. Now I was finally able to consider it. I researched and investigated and found the one I wanted. Then I promptly had a near heart attack at the $699.99 price point. Now, that is a pretty reasonable price for a camera, and it included a lot of extras, but it still took MONTHS of hemming and hawing and rationalizing before I finally bought it yesterday. Even after buying it, I had to distract myself by immersing myself in Mass Effect 2. It kept me from having a panic attack. Now that I’ve had a minute to breathe, I am definitely happy about it. It’s even better since we are going on vacation at the end of the month. Going to get some great pictures.

 

Those are the five things I will always spend money on. Doing so will avoid future issues and lead to a happier and/or more fulfilling life.

 

What about you? Anything you have been putting off doing that you really should spend the money on? Anything I missed? Let me know in the comments.

 

Until next time!