This blog contains some simple tips and advice from two regular guys. We're not accountants, financial advisors, or brokers, so follow, ignore, or discuss our ideas as you see fit.

Thursday, October 4, 2007

Know Your Indulgence

Posted By Paul

I was recently talking to a friend and they were talking about how they like to splurge on their hobby because it's "their thing."

My friend essentially identified one thing that is really important to them and that they enjoy splurging on. I thought this was an interesting exercise for personal spending, to identify "your thing" and give yourself permission to splurge a little on that.

So if you're a "clothes person" then you can splurge a little on your wardrobe or if you're a "foodie" then you can sometimes eat out in fancy restaurants.

I believe in the concept of "All things in moderation, including moderation." W can't be totally responsible all of the time, we all buy stuff that we don't need.

Perhaps it's healthy to decide on one thing that you get to be a little excessive with when it comes to spending.

For example, one of my friends is really into travel so in addition to being fiscally responsible their big indulgence is a trip somewhere every year or so.

Another example is that my wife and I really enjoy going to shows when they come into town. We generally only see one or two shows a year, but when we do it, we splurge a bit on good tickets since it's "our thing".

Neither my wife nor I are "car people" we don't particularly like driving so we buy fairly inexpensive cars, take good care of them, and keep them for a long time.

I thought that perspective had some merit since it encourages you to decide on one or two things that are really important to you, and discourages you from splurging on every shiny new thing that catches your eye for a moment.


Matt said...

The trick of this is identifying your "one thing". People who know me know that when I was younger, I tried out a lot of different hobbies (hockey, rock climbing gear, sailing classes, etc.). Most of them seemed to involve spending of some kind. I'm really glad that I experienced all that, but I'm also happy that I've found my "one thing" (soccer). I don't feel so bad about paying the team fees every season because I know I'm not blowing money elsewhere.

I just hope my knees and ankles last, otherwise I'll have to take up beekeeping or something. :)

Kacie said...

Just wanted to say you've got a lot of great content on your blog. I've spent the last 20 minutes or so digging through your archives.

I'm looking forward to reading more.

Also, do you think you could use more photos? Pages and pages of text can be boring, even if the text is good.

Also, I noticed you don't have a blogroll. I've found that by including the Frugal Hacks blogroll on my blog, (and by other people doing it, too), I get more traffic from like-minded people.

Matt said...

Kacie - Thanks for your positive comments. I'll keep your suggestion re: photos in mind.
A blogroll is something we have been considering (at least I have), but have not implemented yet. Thanks for the suggestion.