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
Splurge
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*
17 Stories About Crucial Mindset Shifts to Master Your Money
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
How to Sell a Website for $500,000 with Vital Dollar
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.”
Special Thanks
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!
Community Feedback
What have you splurged on lately?
What would you buy if you had millions in the bank?
What splurge story did you enjoy reading the most?
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Author: Jerry
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.
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Awesome. Thanks for the fun read and great peaks at the habits of these popular FI bloggers. I think I might have overdone it!
Thanks for the links!
Thanks for participating, Doc G!
Thanks for giving me the opportunity to contribute! Great post! 🙂
Erik @ The Mastermind Within recently posted…How to Take Someone from Total Stranger to Loyal Customer
Thanks, Erik! I still have to listen to your latest podcast.
That was fun! You should totally make this into a series with different bloggers within the community.
Thanks for participating, Cal! What an awesome idea!
Thanks for including my splurge Jerry.
I believe that one of the most important parts of personal finance is spending on the areas that are most important to us. Living a winning life is not all about skimping. It’s about doing and enjoying what’s most important to you.
Jason@WinningPersonalFinance recently posted…Pay Off Debt or Invest – Interview 4 (MSoLife)
I recently splurged on new kitchen cabinets! We are renovating our kitchen, and it’s been a balance of splurging (cabinets) and saving (DIY poured concrete counters).
Thanks for dropping by, Mrs. Kiwi! That sounds exciting! Be sure to take pictures. I’d love to share the final product in a Do You Even Splurge part two or three.
jobrown2787 recently posted…Walking Around the Lakes to Escape Daily Grind
Misty, Thanks for touching on Women and the guilt associated with spending money on ourselves. (This sounds like a great future post)
Fun roundup read! I like the different levels of “splurge” and seeing what people currently find worth it.
Latest Splurge: Backpack for Peru Trip this summer (on my approved shopping list) . Bought early so I could use my REI dividend and coupon.
Oh what a fun post and it’s interesting to see what other bloggers are splurging on. 🙂
Thanks for reading, Tawcan! Cal from FI Me Outta Here suggested I turned it into a series. Would you be interested in contributing if I did a part two?
My last purchase that I spent too much money on was a surf board. I only regret waiting too long to pull the trigger.
Thanks for sharing! My latest splurge was spending too much money for a one night stay at a 5 star hotel
You are welcome, Scott! Where did you stay? That sounds like a fun splurge.
My latest “fun” splurge was back in January getting a 5 gallon cold brew coffee system. I drink tons of cold brew coffee so this definitely was an improvement over my brew in a bag solution. This was around $300 but it is well worth it. I drink about two 12 oz cups a day and spend maybe $30 per month on coffee, so $1 a day is much better than buying it for $3-4 per cup every day
Recently I had non-fun “splurge” of signing up to be a notary public – the required online course, exam, $10k bond, seal, and 4 year of e&o insurance. Hopefully I should be able to leverage that and do some mobile notary work as a side hustle, so that should pay itself back at some point.
Thanks for sharing your latest splurge @Nick
What kind of cold brew coffee system was it? Yes, that should save you some money in the long run.
The non-fun “splurge” seems like an investment in yourself! Hopefully that investment will produce major dividends in the future for you.
jobrown2787 recently posted…Paid Subscription Services Spring Cleaning!
Thanks for the fun reminder! I’ve begun splurging more and more on travel. With less time to travel now, I’m realizing that when I go somewhere it may be the last time I get to go there for a decade or more. I’m going on fewer trips, but spending more while on each of the trips. It was painful to do but recently I had the option to take either a bus or taxi to a ski resort after arriving at the airport (significant cost difference). What I realized though is if I took the bus, I wouldn’t get to ski at all that day as I wouldn’t get in until 1 and the lifts closed at 3. I only had 3 total days to ski and already bought the 3 day pass. I bit the bullet and took the taxi, arrived at 9AM. Within an hour of getting there I was able to hit the slopes and it was well worth it.
MC recently posted…Why You Should Attend That Women’s Conference
Pure gut strings in all four of my tennis racquets. It is kind of expensive at $45 to string a racquet with gut probably 15 times a year. Nothing saves your arm and shoulder like the soft impact gut has when you hit the ball. Keep the synthetics and polyesters away, I want to keep playing without injury even if it does cost more. Plus top quality tennis shoes (ASICS gel-resolution 7), they cost more and they are worth it! One of my buddies had a memorable splurge, he spent a night in the world’s most expensive hotel in Dubai, this was a few years ago and it cost $3,200 for one night’s lodging.
Nice, Steveark! I played tennis for the first time a few months ago, and while I was terrible at it, I had a lot of fun! Wow, $3,200 for one night? I wonder what amenities this hotel came with.
I just splurged on some Bose wireless noise-canceling headphones and they are amazing. 🙂
Michael @ Financially Alert recently posted…stREITwise Review: Commercial Real Estate Investing for All
I’ve been eyeing those for a while, but they are just too expensive. Maybe one day I’ll splurge on them. I am glad you like them 🙂