Do You Even Splurge?
“We all know that saving money is essential to improving our finances but no one saves everything! Do you even splurge!?”
-Peerless Money Mentor
When was the last time you read the word “splurge” while reading a personal finance blog? It is rare because most blogs promote (rightfully so) increasing your savings rate. I am willing to bet you one million dollars that most bloggers have savings rate well over the average American household savings rate of less than 5%. But no one saves everything, including your favorite blogger (me I hope)!
I will share my latest splurge first and then I will share some splurge stories from other bloggers!
My Latest Splurge
My most recent splurge was buying a Phillips Hue White and Color ambiance light bulb for $50. Yes, you are reading that right. One light bulb set me back $50 bucks. I control it via my google home.
When my little sister found out how much this bulb cost, she wanted to take my frugal card away from me. I often teased her about spending too much on her shoes (we are all hypocrites, right?) so her criticism was well deserved. Yes, I know I could have put that $50 towards my car note but lights make me happy! Don’t you dare judge me!
My friends have already judged me enough! When I showed them the review I left on Amazon for the Phillips Hue starter kit I purchased. Hey, I had to start somewhere! I had to graduate from the basic white smart bulbs to the the fancier smart color bulbs :-).
Eventually, I would like to add more light bulbs to my collection but I am working on paying off that car note! Soon (5 payments left!) I will be able to blast Dee-1’s No Car Note while driving
85 60 on the highway.
Enough about me. It’s time to read some splurge stories from ten of my favorite bloggers!
Pete from Do You Even Blog
I splurge on equipment in general, both hardware and software. Recently it was a Arturia Midi keyboard and controller ($99), and a $50 scheduling app (Fantastical 2), which I surely didn’t need…but it’s beautiful and helps me stay accountable with budgeting my time 🙂
Misty from Simply Organized Lifestyle
My latest splurge was a fun one! It was a much needed “girls day out.” I did all of the things that I typically avoid like buying new clothes and ordering dessert with my meal. My best friend and I spent the day catching up and taking a break from the normal day to day duties that pull us in a million directions. Women, myself included, often feel guilty for spending time and money on ourselves. However, I believe it is time and money well spent for our mental and emotional well being. We need to disconnect and take care of ourselves too! Every so often, spending time with a good friend and buying a new pair of shoes “just because” is totally worth it!
My Collab with Misty: Tale of Two Nissan Altimas
Sarah from High Fiving Dollars
I splurged on a portable standing desk. I got tired of working from my dining room table until I figure out where to stick my home office in my apartment. I debated for it because I frankly, felt selfish for even wanting to buy it. But I hate not being active, and sitting at a desk all day working on my business doesn’t sound that enticing. So I got it and haven’t looked back since!
*I contributed to her post below*
Cal from Fi Me Outta Here
Erik from Master Mind Within
I’m not one to splurge on stuff (I don’t find much enjoyment in stuff), but I do splurge on food from time to time. I really enjoy the all you can eat sushi place down the street from my house which is $25 a meal! With going out though, I try to make it for a special occasion and if it’s just for a random lunch or dinner, I will eat in or go somewhere lower cost.
Listen to his Latest podcast episode
Amy from Five Feet Small
My latest splurge was more so a series of splurges in the form of a full kitchen remodel! Home cooked meals are a consequential part of my culture and not being able to enjoy that experience due to having an old, dysfunctional kitchen was taking a toll on my home life. After discussing it with my husband, we decided to take some money out of our savings and give the kitchen renovation the green light. We have absolutely NO regrets! Our quality of life has increased threefold at home and we can’t wait for all the dinner parties we’ll host in the near future! Stir fried tofu, anyone?
Rocky Finance at Thirty and Zero
My latest splurge was upgrading to the Samsung Galaxy S9+. I put heavy use on my phone for both entertainment and work. I have never had a mainstream “flagship” level phone before and the new Samsung checked all of the boxes I was looking for. On T-Mobile there is a new frequency that is supposed to have better building penetration which would be great for me as I have negative one bar at work. Beyond that I wanted a waterproof phone as my value based phone lacked this feature.
As fate would have it after having my phone for just over a year I broke the screen. I had it replaced but the new screen had all kinds of touch issues and without dropping it the screen decided to crack! Warranty would cover the touch issues had the screen not cracked so repairing would have been another $100. What once was lust became a downright obsession. I pre-ordered the Samsung a day after pre-orders opened and haven’t looked back.
Check out his post titled Frugality is Stupid
Kay from Growth Motive
Over the years, I got into collecting art and have a lot of art around my small apartment. so imagine how that looks. The first piece of art was created by my partner’s friend. I unexpectedly paid $400 on that.
Recently, I started following this guy on Instagram from California. He created this Huey Newton fist. Since my partner is very socially active, I figure this would be a great gift. However, after the purchase, I realized it was probably a selfish buy because I love art. This piece is special because it says so much with just a fist and it’s 2 by 4ft. So, it will look awesome once it arrives from California. I spent $500 for the art but $90 to have it shipped. So, almost $600. I said this was the last piece of art because I have no more wall space.
Jason from Winning Personal Finance
Jason from Winning Personal Finance shared with me an article he wrote for Millennial Money Man titled 6 Things I’m Not Giving Up to Achieve Financial Independence. One of the six things he mention not given up is leisure travel! As I am writing this, he is somewhere living it up! This is what he writes about the places he has been to:
“As a child, I remember the beauty of Yosemite National Park and my first experience skiing powder in Lake Tahoe after an epic snowstorm.
As an adult, I’ve hiked in Hawaii, went ziplining in Costa Rica, ate amazing food in Paris, visited Mickey in Florida and partied in New Orleans.
I’ve also skied in Zermatt, Chamonix, Colorado, Utah, Wyoming, Lake Tahoe, British Columbia and all over the Northeast. Did I mention I love skiing?”
Peerless Note: I went ziplining in Costa Maya last year and had a blast!
See My Vacation Post: No Vacation? No Thanks, Dave Ramsey!
Doc G from Diverse Fi
Doc G shared two articles with me. One titled Stealth Wealth Fail. The other titled Breaking the Budget. In the first one he writes about buying a Tesla and the second one discusses his decision to send his daughter to private school. Both are great reads. I highly recommend them. Read below how Doc G feels about splurging on the Tesla two years later!
“And it is everything. Two years later, 40K on the odometer, and I feel a flash of pleasure every time I climb into the front seat. This non car guy, is now a car guy. It’s carried me through thrashes of rain and blizzards of snow. Stopping on a dime, rarely slipping, this is by far the most advanced car I have ever driven.”
Thanks to all the amazing bloggers who contributed. I sent out ten e-mails and each one of you responded at lightning speeds. The FI community totally rocks!
Jerry is a Business Insider Contributing Writer who is obsessed with personal finance. He believes you can improve your financial situation by applying principles taught by the financial independence community to your financial life.
If you are having trouble saving, he recommends that you join the SaverLife Savings program where you can get a $60 reward after six months (no income requirement). All you have to do is put a minimum of $20 a month into a savings account. Easy, right?
For a fun read, check out his article 10 Signs You’re a Personal Finance Addict to see if you are a personal finance nerd.
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