How do you justify buying something you want but don’t need?
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At one point I had a change jar. At the end of my day all my pocket change went in the jar and I forgot about it. This had multiple benefits: any purchase I made during the day took at least five bucks out of my pocket (no $1 or $2 notes in my country), so I had to think about it carefully. I always had money in the house, but in a form that made it inconvenient to spend. And after a couple years of ignoring the jar, I had about $200 that was outside my normal budget. I could spend it how I wanted! If I felt like buying a couple hundred bucks worth of jellybeans, I could do it without guilt.
Now I'm no longer single. My wife steals my change to buy leftover fabric swatches at car boot sales. That makes it harder but man, I deserve a Lego pirate ship.
Aww man, I think you deserve a Lego pirate ship too!! Maybe you need to have a hidden change jar!!
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If I buy it I'll forget about it.
If I don't buy it, I'll spend the next twenty years thinking about that cool think I didn't buy when I had the chance.
It was a stupid little statue of a fairy sitting next to a mirror and I still wish I'd brought it.
This!! The one thing I think about is if I will regret not doing something.
I hope you find the statue again and get the chance to buy it!!
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Entertainment is valuable, it's what helps us get through the stuff we don't want to do. Looking forward to, or fondly remembering back on, the stuff we did/do for fun.
Budget for it. If what you want fits in that budget, and there is no other downside preventing you, then go for it.
True there is definite value in the experience of getting and using things you want. I’m always fearful of having another hobby that I don’t really commit to.
Thank you so much!!
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For starters, I have a one week grace period - If I still want it after a week, I can proceed if:
- I've spent more money on less amounts of fun/enjoyment than the new item gives me. (as in, it's not the stupidest purchase I've made),
- My credit cards are at zero.
Beyond that it's basically "I can afford it, and I want it. Why not?"
I like, and agree with, the concept of the cool down period. That’s where I am at right now!!
Right, there’s always something you can truly waste money on.
Pretty straightforward approach. Thanks!!
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I research, then set it aside for a while (dependent on cost, cheaper = less time, expensive = more). If I'm still seriously thinking about it after that time, and I have enough of a budget that it won't cause issues, let's say if I have to put it on a credit card and can't pay it off without interest, then I generally will buy it.
I think the cool down period idea makes a lot of sense. If you’re not hyped up about it after a little bit, may not be something you really wanted.
Appreciate the response!!
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I don't usually do it, so when I do it it means that I really like that thing.
This makes a lot of sense. I will keep that in mind for the future.
Thanks!!
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For you, is it specifically just financial aspects? I often look at the graveyard of hobbies and say… I just can’t do it again
I enjoy food and shelter and environmental temperature controls than pretty much anything else. My first level and most common splurge is a hot bath. I want to have these things till I die. That is the foremost priority. Many splurges I have, many folk would consider not to be wants.
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I have a fun budget. A % of my monthly surplus goes I to it, and everything (excluding food) that I want rather than need come out of that pot.
I then have no guilt over spending my fun money, unless I think I could have more fun using it for something else.
This makes sense for sure. It’s always easier to spend when there are no other pressing issues or needs.
Absolutely no guilt if that’s what you intended the money for. Great way to look at it!!
Appreciate this!!
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I want it and I have money for it. That's all the justification I need.
right to point! I like it!! Thanks!! -
I want it.
That justification enough for me. If I can afford said thing, I'll buy it. Having it live rent free in my head is way more annoying than just forking out the dough for whatever dumb thing I currently am obsessing over.
That’s fair! The rent free in the brain thought wasn’t something I had considered. This current situation there’s a lot of that happening.
Appreciate the response!!
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I enjoy food and shelter and environmental temperature controls than pretty much anything else. My first level and most common splurge is a hot bath. I want to have these things till I die. That is the foremost priority. Many splurges I have, many folk would consider not to be wants.
Got it, thank you for the follow up!! This makes sense!!
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I make a simple calculation:
I divide X money over Y time.
I enjoy photography, and bough a fancy camera with a bonus at my last job.
In total I have probably spent 30k SEK on the camera and lenses, I bought it in early 2023, so let's say that I have had a year and a half to enjoy it, that is 18 months
30k/18months is about 1.7k/month so far, and in return I got thousands of photos, some of which can be found here:
That is quite interesting. I didn’t do any long term calculations to see if I could identify a monthly spend.
I may do that for this situation and future projects. Thanks for bringing this up.
Also, your photos are great!! Is the metapixl instance federated in Pixelfed? I tried to look you up directly in the app I use and didn’t find anything.
Thank you for posting!!
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"Damn that looks like fun!"
Make purchase.
That’s pretty straightforward as well! I’m sadly not wired that way but… I wish I was.Thanks for posting and the laugh.
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Don't overthink it. Life is too short.
This is a pretty classic way of looking at things. I just can’t seem to get to that point.
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Not for me. I'm not sticking around all that much longer. I'm already past the time I thought I'd check out. Men in my family didn't make it past 60. My brother made it 5 years ago. I've got 3 to go. And I'm not actively trying to extend life. Give me all the great food & beer I can manage. Cheers!
I truly hope you beat the stats and get to enjoy all the food / beer for can for a very long time!!
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A friend of mine retired and later told me he has too much money saved and he wished he had spent it more when he was younger.
Retirement hangs over all of us. I don’t hyper fixate on it but, I am super diligent about it. It’s kind of a pain trying to guess how much money you need to live in when you choose or can no longer work.
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If you can afford it and it's something you think you'll enjoy, go for it. In the case of a motorcycle or similar item, make sure you can also afford insurance, maintenance, etc.
True, all hobbies will have some additional costs to go with them. I did the diligence of creating a list. But, there’s probably a few things I forgot.
Definitely a comment folks should take to heart. Thank you!!
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I usually go with "Third time's a charm"
If I think about wanting it once, I tell myself not to do anything rash.
The next time I think about wanting it (at least a day after the first time) I research, look at prices, get an idea of what I'm looking for and what models would work best for me.
The third time, I dig out the research I did before, check to see if prices have changed, and if I have the money available, I'll probably do it.
Self enforced waiting periods have talked me out of a lot of impulse buys that I probably would have regretted.
I like this approach! Similar to some other comments as well. I think we all get a little excited about the prospect of something new and we can be a little rash in our judgement.
I purposely left my wallet in my vehicle when I talked to the dealer so I didn’t do anything out of impulse.
Appreciate you sharing!!
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There is no need to justify anything. It is your money.
True, it is, but sometimes it’s not just the money perspective. There are other things I was thinking about.
You are right, we out in the time to make the money, we should use it anyway we see fit!!
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Budgets (formal or informal)!
- Have I covered all of my expenses? Yes.
- Have I properly funded my savings (retirement, emergency fund, other savings goals)? Yes.
- Do I have money left over? Yes!
Permission to spend granted!
Further before I buy something I'll write it down on a list and essentially not buy it for a period of time (7 days? 30 days, a year?). I'll come back to that list and gauge my interest again. Many, MANY times (most?) I don't care about the thing anymore so I don't spend the money.
Then I'll usually try to get the cheaper version (possibly used) of the thing first to make sure it still holds my interest in using it before I would justify buying the more expensive one. So many times the cheaper version does everything I need and I never need to buy the expensive version. When I do exceed the capabilities of the cheap version, and it is still holding my interest, I can then justify spending on the expensive (new?) version. Example: I wanted a bicycle to ride around the neighborhood for fitness and enjoyment. I looked at higher end brands and models, but first I bought a $200 Big Box Store Schwinn. I'm still using that same bicycle 6 years later with no need to replace it. One note, about two years into ownership I took it to an actual bicycle store for a tune up. The cost was about $80, I think. I wish I had done that on day 1! The bike's brakes worked much better and the gear shifting were MUCH improved! Prior to the service, I would regularly have the chain come off from bad shifts. The last time that happened was 3 years ago prior to the service.
I agree with te cooling off period. Although I might argue the length of time. If I wait a year to decide on something, I know it won’t have as much interest as it did before.
I think, personally, there’s a period of do it now or just don’t bother. For motorcycles I’d be hesitant to wait a year and then buy one, and try to learn. The lessons from the training are still fresh.
Thank you for the bike story. I’m glad you’re still enjoying the bike and getting use out of it!!
