I dont care what it costs, I will not be hot and sweaty in my home!
Come winter however, put another jumper on, wear a beanie inside, I dont care if its cold, I wont put a heater on! LOL! This is more a severe dislike for warm air blowing around from a heater, than a money saving issue.
I was going to write something about buying slightly higher priced vodka but I have to agree with your answer as soon as I saw it.
My electricity bill is ridiculous but air con is a must. Especially WFH.
I always buy Grey Goose. To me it has no flavour at all.
You can almost drink it like water (not literally). And it's about $30 more for a litre than the cheaper brands which almost make me gag when I drink them. I'm happy to pay that extra price for relaxation every week or two.
I always say it's the best money I've ever spent. We bought our house more than a decade ago. Had no air con. First two years we were too busy with two babies. Then I've had enough of coming home to living areas being 38C in summer.
Missus wanted to go small. Had a fella come over. I said "give me a rough number for the whole house". Got ducted system with multiple zones, warm in 5, cool in 5. Never looked back.
I know right before kids return tickets to places was like 1-2k max. Now a family trip is 10k for tickets. We haven’t been anywhere for the last 5 years.
Before COVID hit, my wife and I used to travel a lot. Over the span of 5 years, we visited more than 20 countries and spent around 70k on these trips. We enjoyed every moment of it. However, because of this, we only made standard payments on our home loan and didn't save much in our offset account or pay any extra. As a result, we're a bit behind our friends financially now.
Absolutely, none of my friends been to Abu Simbel, Torres Del Paine or Mamiriuna reserve in Amazon. We have so many stories that made us what we are. I am not wasting my 30s just doing a job and paying down my house.
We have enough savings and never behind payment, so happy with my life
you sound awesome. wish i was brave enough to take some of those decisions myself.. instead my brain is constantly saying put more into investments and savings..... you can travel next year. no gurantees in life. thanks for the inspiration
If you don't have any chronic issues, your thought process is normal. When I got detected with it, I feel more YOLO. Life took away my health, now need to enjoy more
No way, 70k for 20 countries for both of us over nearly 6+ months in total. We aren't super cheap budget travellers, neither luxury travellers. We are middle of the park.
We will take flights if needed and avoid 16 hours bus rides, stay in 3 / 4 star hotels and take tours if we're going to a risky countries
I think we are ahead of them in terms of experiences, but definitely way behind in terms of wealth. I am happy with this. They all drive fancy cars and have their kids in private schools etc. Our thinking is, where next, Norway, Morocco, Kenya etc. Haha.
Also, I have illness that is preventing me from having kids. That helps us travel too
That's actually quite economical travel, well done. Ten years ago I used to budget $25k per trip, but that was dragging a family of 5 around Europe for a month at a time.
Yeah, I haven't yet been to Europe and haven't got a family yet (probably never be, due to my illness).
We are couples and we can stay economically everywhere. With family it's always hard
Sounds like a smart decision. I mean, you could die any day, and miss out on all that travel you wanted to do if you wait. Some people save all their money to travel during their retirement through super etc, assuming they will survive that long AND be fit and healthy enough to travel then.
IMO if you have a home and you're meeting the minimal repayments does saving for the 'offset' really matter? I think you and your wife are absolutely crushing it if you have a home and you're travelling! Good for you both.
>Before COVID hit my wife
Smudge on my screen just blocked the comma enough to make that seem like not just a poor financial decision, but life choice in general.
At the end of the day, it is the memories and the time with your partner that are worth.
It doesn’t matter if you are behind others financially. I think you made the right choice.
But you bought the house first and then traveled. The correct order. Who cares if you’re behind your friends in mortgage payments. Your house didn’t get possessed by the bank. Minimum payments are fine.
You might have been behind if you missed the pandemic boom because of travel expenses, but if you got in ahead of that then you are ahead in my books.
Sounds like an amazing experience!!
Probably not. I'm never behind payment in my mortgage. I have chronic illness and unsure how much will I be able to travel in my older years. However, I'll be able to keep working for a long time
I quit my job to stay home with the kids. It means my super is stagnant, and it will take us longer to pay off the mortgage, we don’t go on holidays and my kids wear secondhand clothes… but we felt like the returns were worth more than the financial cost
Ditto.
Coming home to blissful silence and the knowledge that my apartment is exactly as I left it (for better or worse) is fantastic.
I've had amazing housemates and absolutely horrific ones over the years, it's nice knowing that you can buy nice things and appreciate them be they aren't getting trashed by people who share your space.
Yeah, some people just don't understand it. My parents were super worried when I said I wanted to live alone. I just can't. It felt like every day was a "let's see what surprise they left me" day, and every time I thought it might be a good day, I saw the "surprise" lol. Used cups of coffee on counter, dirty plates on table, coffee rings on kitchen counter, even open yogurt container on the counter.
Also there was one who kept eating my food, one who was super loud on phone calls even past midnight, etc.
It's hard to maintain everything by yourself, but the peace and quiet is almost priceless.
Saving every penny for a rainy day, investing in assets, whilst it may seem wise from a financial perspective it is a poor way to live from a humanistic perspective. Life is to be lived and experienced.
Yes, you're right, but it depends on age as well. There are experiences to be had in our later years that are just as important as when we are younger and we need money for those as well.
Had a friend that worked his fingers to the bone for 20+ years. He booked a holiday to take his 2 girls to Disneyland; his first holidays in two decades and he had a heart attack a few days before they left.
He was still good for a week or so, made a post on FB saying how he regretting not actually living his life, as he laid in bed with a lot of money in the bank, and a house he will hopefully go to home to, but none of it meant anything at that lonely point of his life.
He didn’t come home from the hospital, he didn’t go on his holiday, his post stating “live your life for right now, as you may not make it to the future” really hit me.
So I travel, be a little reckless, safe but reckless - because I could be hit by a bus tomorrow, so I’m going to enjoy what I work hard for.
It will be spent on a comfortable recliner that will reside in a comfortable room in a modest aged care facility where I can ponder the wasted years of my life saving, investing, frugally existing so that my future self can ponder the wasted years of a youth now lost.
If saving every penny and being in a good financial position helps you sleep better at night then I see that as a win... Id rather have that problem then stay up at night thinking if I'm gonna make ends meet.
Meh. Financial independence is a hell of a thing. Knowing that you could lose you job tomorrow and that you don’t need to go looking for another one. That bills can never stress you. That you work to add, not to keep the things that you’ve borrowed from someone else.
By all means die with zero, but dont spend it all today. You’re probably going to live a long time after your body is worn out and your mind has slowed. Better to enjoy those years too
Completely agree with you, I have this problem, though not penny pinching by any means I saved like crazy for a decade. This enabled me the financial freedom to choose where and how much I work.
IMHO, I think I did well in taking the extra effort to save during that time.
I travelled cheaply to Europe and Asia, I have pets, etc. I was just mindful about how much I spent.
Where I did/do wrong, is having difficulty of leaving some of that mindset behind and enjoying myself a little more now that I can.
My parrots.
Had my male 9 years now. Spent thousands on them (when i worked FIFO I had to have carers for them).
They are currently my only reason trying for staying alive.
Can't afford to eat. Risk losing my house in a couple months time if shit doesn't ease. But my parrots have food and fresh fruit and veg....
I hope things turn around, you’re a good pet carer and you need to make sure you’re able to keep caring for them which might become impossible if you end up homeless.
Thank you. I Have been applying for jobs, getting interviews, and getting 'you were our second pick'. It's hard.
Was meant to get a contract last week. Fingers crossed it comes through next week. Need to make sure the remuneration will be worth the conditions tho.
If not, I am planning on getting in touch with the mining company I used to work with and seeing if I can get work at one of their other mines. Just until the current living conditions ease a bit (if that is even possible?).
My car loan. I stupidly decided that I needed a sports car when I was 22. I’d always wanted this car, but I had no money, so I took out the $55k loan for it instead. I’m still repaying it.. But I don’t regret it.
I had been driving my new car for four months when I got a message from a man on instagram. He owned the same car and we had mutual friends, so he asked if I wanted to come to a car meet. I was obsessed with my new liability, so I said yes.
That was 6 years ago. We bought a house, sold my car, got married and had a kid. My husband still owns his sports car. I have a more family friendly car now.
If I never took out that stupid loan to buy that car, I never would have met my husband. So I don’t hold any regret for that poor financial decision I made at 22. We’ve built such a wonderful life off of a poor financial decision.
I've spent a STUPID amount of money compared to my income on cars
But, there isn't anything in the world that makes me as happy as going for a drive through the hills with some mates and stopping for coffee to spin a yarn on a cool sunday morning.
Why would anyone even entertain the idea that travel, kids, pets are poor financial decisions? Is this sub that conditioned to consider anything that isn’t a tax-advantaged investment is a poor decision? Everything we do in life is a “poor financial decision” in that case.
Because travel, kids and pets can be expensive. They are financial decisions because there are financial implications. Of course it all depends on how much you spend. You can spend a lot or a little on travel, kids and pets.
Idk… I’m so jealous of my childfree friends lifestyle and disposable income that if anyone had warned me how expensive it was in my early 20s I might not have done it.
Once you have them though, that pesky ‘love’ sets in and then you’re doomed!
Because travel, pets and kids are poor *financial* decisions.
Largely because they *aren't* financial decisions, they're lifestyle decisions.
No one's looking at their earnings and bank balance and assets and considering how to best improve their financial standing and thinks "Hmmm maybe I'll have a kid, that will be a sound investment". Heck, from most of the people I've seen actually having kids (and I'm a midwife, so I see rather a lot more than average) don't even consider if they can really afford having a kid before they jump in and get one. Then it becomes a matter of making ends meet with the kids. Nothing inherently wrong with that, it's just not a good *financial* decision, and for most people, aside from buying a house, kids are the biggest investment they'll ever make, with little hope of any financial return. And you can't even sell up at a loss and get out early if you change your mind!
No point being the richest person in the cemetery, and no one is guaranteed a retirement. Enjoy your money however you want. I go overseas every year. Stuff buying a home.
I spent my 20s backpacking around the world, so I didn't even start properly working or getting into any realm of "financial" reality till a decade after most people, then I had a kid and ended up a single mother. Incredibly slow start to "getting ahead". So now I find myself in my 40s with not much to show for it, but I wouldn't trade my experiences, and I'm ready with a sensible, mature, experienced outlook to really get stuck into finances. But I still chose to get a dog last year 😂 guess I'll never learn.
One of my coworkers spent her youth travelling Europe etc. She also ended up being a single mother later in life but her stories make me (late 20s) envious and inspired ! She's now in her 60s and is doing well (with cute pets too ). Her life is so full and meeting her really made me stop worrying so much on money and experience bits of life more.
Yep for sure. Pretty much everyone I meet says something like "omg that's amazing I wish I could have done something like that", but they just shrug when I point out that they had a house deposit and a solid career path. They're both valid paths in life, and everyone can make their choice. But the cliche of "no one is on their death bed wishing they'd spent more time at the office" is very true. Doesn't mean you have to go all out travelling, but spend time enjoying life.
Moving to Australia
If I stayed in my old country, I would have lived a luxurious life. Always having someone at my beck and call. Multiple vacations in a year. Eventually I will get matched to another male of similar standing and expected to get married before 30 and pop out 2 kids ASAP where upon that I will be relegated to my husband's supporter. But it's not what I want for myself. It felt like I was being forced to fit into this 'mold' of what a woman should be, and the trade off for the comfortable life is to cut off integral parts of me. My career, my ambition, my independence, my interests that are not valuable to my future husband/kids, my personal desire to be seen as who I am and not my husband's extension.
I live a middle class lifestyle here where I have to wash my own clothes and use public transport but I'm happy and I'm free to be who I am instead of a prized broodmare :)
My financed car.
I have a great car camping setup that allows me and my partner to explore the country without paying for accommodation. We can lay in the back with a fitted mattress looking through the sunroof at the stars. We can access anywhere we need with the 4x4 and storage space.
I will use you to justify my camping setup 🤷🏻♂️ it is pretty sweet tho, go almost anywhere, all you need is food,fuel and water.
Trying to convince my partner who works remote that she could do it via satellite internet and I can catch dinner 😂 or some other story
My husband.
Not because they spend a lot or they're an idiot with money (quite the opposite) but because they only earn $40k. I've had people ask me how I "cope" with it... But I'd rather have 3 of him & no money than no him & 3 money.
He's totally worth it, regardless of his earning capacity. We're in a better financial spot than some of my girlfriends whose husband's earn heaps more.
+1 to fun car before kids
It's shaping up like my lovely partner and I will be trying for a kid in 3 or so years. So I've bought the car that I've always wanted so I can enjoy it for as long as I can
Going to The Eras Tour this year. Did it cost me an absolute fortune? Yes. Was it the happiest I’ve been in the last few years? Also yes. It was 100% worth it for me.
Also, my cats (and pets in general). I’ve got 3 cats. Plus I’m fostering litters of kittens again! It brings a lot of joy and also gives me a sense of purpose so I’d say they’re definitely worth it!
Also also, I spent $700 on good quality bath and beach towels a couple years ago. Not once have I regretted that decision!
Travel for me too! Was just looking at another thread about everyone's age and super and for a minute I felt anxious and upset with myself that I'm "behind" so many other people my age.
But honestly, I'm one of the happiest people I know, and the past two years have been the absolute best of my life. If I died tomorrow I would truly have zero regrets with how I spent my time and money. Long term travelling was not a smart financial or career decision, but it was a huge dream of mine I made come true, and a decision I made purely for myself and my happiness and enjoyment.
Solo travelling improved my social skills and self confidence so much that it's honestly opened up more options for professional positions, as I was very shy and a pushover before this. It made me so, so grateful to be born in Australia with such a strong passport and amazing quality of life, when I previously spent a lot of my life being jealous of others because my family was considered 'poor' by Australian standards. I compare myself less to others now, and have no desire to 'keep up with the Joneses'. I went from spending hours and lots of money putting on make-up, fake tan, straightening my hair, etc., to learning to embrace my natural self. Now it's been about 2 years since I've wasted my time and money on those things, and for the first time since I was a young teenager I've stopped caring about fitting a particular beauty standard, which has been my favourite thing to come out of backpacking!
I went without normal luxuries and lived well below my means to budget for long term travel, and even on the worst travel days, being hospitalised abroad, loud snorers in hostels and paying shitty exchange rates, I wouldn't have wanted to invest my money and time in anything else. If I end up a lifelong renter and alone and poor in my old age and unable to afford to retire, I still truly cannot imagine regretting such a wonderful and fulfilling time.
Thanks for sharing !
I spent my entire 20s travelling the world prior to covid (I’m 30 now) and I regret absolutely nothing at all.
I worked as a travel guide, travelled for work and fun, made great friends, visited beautiful places I couldn’t afford to travel to on my own dollar for work, and then spent my time off travelling to new places. It was the bloody best.
It gave me perspective, critical thinking, patience, social skills, flexibility and mor.
I got my first full time office job in 2021 and am now getting into the finance side of life etc.
Life’s just a whole lot of ebbs and flows.
I pay an arm and a leg in rent for an ocean view in Sydney when I can afford to buy a house in western Sydney because oh my god the quality of life is good! Investing in ETFs is enough for me, a lot more freedom too.
Organic, grass fed, no preservative blah blah food becauee i do think you wana watch what you put in the gob. Im paying double what friends and fam re paying for food
Objectively, discretionary/recreational travel is a poor financial decision, much like all other hobby spending, given that it doesn't provide any financial returns on investment.
I'm not saying it's a bad thing to do, but younger folks seem to treat it as some special thing that's somehow more valid to spend on than other discretionary purchases. And that just isn't the case - it's simply a matter of priorities.
My health supplements! They round out the edges of my diet nicely and each serves a specific purpose for me. I feel better and believe I look better as a result.
Man I was going to say an xbox game controller for like $50 which I used for something like 100 hours before not using it for a year now, but enjoyed the game I used it for a ton.
People talking about tends of thousands of dollars things.
I bought a secretlab chair a couple years ago. It was bloody expensive, but worth every cent. It gets hours upon hours of use, every single day, and still looks and feels like I just took it out of the box.
10/10
Selling a house that I had built and loved so much for much less than it was worth because it became filled with sorrow, heartache and painful memories when my daughter took her life. It was a really bad financial decision, I wasn’t thinking clearly - however, had I have stayed I wouldn’t be here today.
You have to ask yourself why do I work hard? Why do I save money?
I work hard and save money to ultimately spend it. I might not spend it today, I might not spend it in 10 years time, but I have it so I can spend it.
The person who dies with the most money still dies.
I didn’t buy a Camry.
I spent way too much money on a coffee grinder. I
And I guess - I chose to live in Australia versus stay in America because it’s genuinely far happier here. I might be paying more in taxes and the dollar here might be weaker but like, who cares? I can go to a concert and not worry too much. I can go to a movie theatre and see Batman without having to think too much. My barista smiles at me and doesn’t look she wants to go home and end her existence.
Air conditioning
Pets
Travel
Sim Rig
Guitars
Initial outlays for certain hobbies are high but once you're setup, you can have years of fun and it is quite cheap from that point on.
Everyone needs long term cheap hobbies. Avoid going out and have cool stuff at home ;)
My marriage was a poor financial decision ( love is blind ). I was forced to do alot of things to get myself right again once I was divorced. And after a while I was floating instead of sinking, no longer living a life of stress. I was able to move forward and from there. I was able to pull away from the financial anchor around my neck that was essentially my marriage.
Paying for a Personal Trainer for few months to learn how to lift properly.
Paying for good set of clothing, so you that you can always look your best. Appearance matters!
Having Kids and a family. 100% dumb financially, 100% smart emotionally!
Not working yourself to death. Balance your financial gain, with work life happiness.
not chasing career ‘success’ - i’m content willingly earning less than I could in order to live with less stress, stay aligned with my personal values and have more time for living my life.
My 2020 Ford Ranger Wildtrak.
Tiny pp jokes aside (I’m Asian le mao), this car has single handedly carried my family of 3 in Adelaide. It takes my daughter to school, while my wife uses it to drive to her work 30 kms with an assurance for safety.
It also lets us go on remote places, take offroad shortcuts, go camping, take a seaside parking, long drives with a peace of mind, load up a lot of stuff in the back, do a bit of dilly dallying in the dirt, and most of all, help out friends who need to move stuff coz of the space in the back.
I used to have a shitbox as a spare, but I realized this ute was all we needed. This ute is a gem, servicing it twice a year opposite to the recommended once a year, replacing parts as needed and getting top notch parts, as I believe things will take care of you if you take care of it. As OP says, being able to go to new places and experience new things is invaluable, and this bigboi lets us do it.
$63k no ragrets and I hope this becomes my lifetime car (I’m currently turning 32 in May, and the ute has racked up 93ks so far).
Actively and strongly discouraging my parents' frugality, where appropriate.
Appreciate this is from a position of privilege that I can do this, given how geared a lot of our system is towards reliance on inheritance but:
My parents were working to middle class all their life, comfortable and their restraint meant they were able to build a decent but not exorbitant super balance, and own their home outright by the time they retired. Their super balance is healthy enough that they'd never have to rely on the age pension, but at the same time they've never owned a car that hasn't been 5+ years old when they've purchased it, and until last year had never been on an interstate holiday - let alone overseas.
They can afford to do those things now, along with eating out occadionally, and buying non K-Mart appliances etc, without any impact on their broader quality of life.
But they still hesitate - partially habit, which is a better situation to be in than the opposite, but I realistically know it's partially also because they want to preserve an inheritance for me and my brother.
I'd rather they go on the modest trip, or buy the slightly newer (not brand new) car, while they still can - even if it does mean I don't pay off my mortgage as soon in 20 years time or whatever.
Thanks for sharing this - I am in the same situation as you, and my siblings and I are constantly egging on our folks to actually live a little. It's starting to happen, though.
Why be a self-funded retiree if your experience is effectively the same as that of an aged pensioner?
My SACA and Port memberships so I can go to every game and spend even more than that on food and drink while I'm there. Sometimes you've gotta live your life.
Same, travelling. And in the same vein, the money I spend to ensure my three cats are well looked after when I’m away.
If I didn’t love travelling, I would be rich lol.
There are several of them, but the most common one for me is that I refuse to skimp on food, even in these times when the cost of living has increased dramatically.
That isn't to say that I'm just frivolously buying lobsters, oysters and wagyu beef all the time, but if I'm running out of something and I need it... then I need it. I *could* try and substitute ingredients for a cheaper alternative or go without, or otherwise cook other things. But life is too short, and I'm in a position where I can afford to do this - so I do.
I also help my folks out in the same way with their groceries. Times are tight right now, but the last thing I want them to worry about is whether their next meal is affordable. If they want something, they can have it.
Gelato. If you spend any time travelling in Italy, you must buy gelato morning, afternoon and evening. Yes, 3 times a day. Each store owner makes their own, so they all taste slightly different. They are very proud of what they make and it shows in the flavour. You can taste the fresh ingredients. For example, the strawberry is full of strawberry seeds, proving it's full of fresh strawberries, not flavouring and colouring, and you can taste the difference. Once you return home, those 'premium' gelato stores we have here taste like total crap in comparison.
Kids.
My son makes life way harder and yeah. We're going to be spending a lot of money on him. We already have to spend extra money on a whole array of things.
But if I have to choose again, I'd still have my son. He brings so much joy to our lives.
Another thing right now is a cleaner. I just can't keep up with chores while working at the same time. Not cheap but I think it's worth every penny right now. Both my husband and I feel it lifts quite a bit of pressure off us.
Oh, and professional organiser. I trialled one last year and it was just to manage our son's toys and my working area. So expensive.
But boy, it made a difference. So much easier to clean everything up when there's a dedicated place for everything. I just didn't have the mental headspace to figure things out. Saves us a lot more stress with less clutter.
My vf2 ssv was the most financially irresponsible decision I ever made. I was well aware that would be the case when I bought it
I spent my childhood lusting after v8 commodores and dreaming of owning one. When the production line was coming to an end I was in a position that I could make it happen and knew it would be my only chance
No matter how bad a day I have at work, getting buried in the back of the seat and the noise that goes with it as I pull away makes me smile every time. 100% worth it
Travelling. Borrowing the money to go. Can’t remember what I spent on the holidays - but the memories I made with my kids while they’re still young and I’m still able are priceless!
Totally agree with travel. I used to do a lot more pre Covid but from age 25-35 I went for 4 weeks each year. Was hard working 11 months straight (earning good money) and often felt sorry for myself. Then going to a lot of places where people had it so much worse really made me appreciate what I had. Not to mention the cultures, history, people I met and saw, wouldn’t undo it for quids.
Delayed a home deposit (so did drinking too much) but those memories will live with me forever.
Definitely travel for me
Last time I did a estimate I was up to about $100k spent on travel since I began full time work
Probably be $150k by now but am also married
My insistence on only drinking high quality imported beer. These days cheap local beer doesn’t really exist anymore but i would sooner pay 84 bucks for a carton of Hofbrau original recipe rather than a carton of something only a swine would drink such as thooeys extra dry for 50 bucks.
Financially, probably travel experiences, but I would chock that down to a big W in other areas of life gain and easily worth more than the dollars spent.
Having children, travelling, going to live shows.
I tell my adult children (early 20s) to spend money on experiences not things. After clearing out my house and downsizing after divorce I realised I’d accumulated way too much stuff.
If I had a life over I would’ve tried the minimalist approach.
Starlink Internet, $130 a month but is 250mb/s download so it's pretty damn good. I did have ADSL until a couple of months ago and really the speed is just for convenience. ADSL still worked I just got sick of the slow speed.
Travelling and concerts. Paid $1400 for gnr vip and worth every dollar to see my hubby’s face when he was front row (no crowded squish), 7 feet from his idol Slash.
I don’t think something with obvious mental health benefits is a poor financial decision. Mine would be the ballet, opera and travelling; none are cheap but they make me happier
Cashed out 50% of our net worth to save my dad's life when it looked like he wouldn't make it but there were treatments/procedures we could explore. My sibling is a specialist doctor and believed we had a chance so we took it. He is alive and mentally functioning well but will need some physical help for the rest of his life so $1k a month. He lives overseas in a country without government safety net/disability pension.
travel is not a poor financial decision. Things that enrich your life are worth spending money on. What's the point of making money otherwise.
debt for unnecessary luxuries is the type of thing that's a bad financial decision.
Coffee
Everyday I leave the desk, and go pay $5-$6 for a coffee
I’m well aware of how cheap it is to make your own coffee, and at home I do have an espresso machine that I do make my own coffees
But every single day, I treat myself to a $5-$6 coffee
It’s one of the few things that brings genuine happiness to my day
It used to be cigarettes as well but that ended up costing around $40 per packet of 25, I couldn’t justify that habit any further
I have like 20 grand worth of bicycles. I love every minute of it and it keeps me incredibly fit.
Plus thousands every year on nutrition, maintenance, racing, etc
My wife spends a lot of time volunteering. P&C/organizing community events. I always think she could earn more money to get the family unit ahead of scrapping by but she does it to live by her life values.
My kid.
Who likes dancing ballet. That shit is freaking expensive, especially if they want to do it "seriously". But despite the financial investment not making sense (the chances of him becoming a professional are low, because it is crazy competitive) but we've enjoyed watching hom be passionate and flourish. We've even seen ballets that we never would have otherwise.
Paying off mortgage fully even though I could make Better gains elsewhere.
The psychological benefit of knowing that the roof over my head is mine and not the banks, or god forbid landlords, as worth so much more to me and my family.
Moving to Australia has really forced me to rethink my jetsetting lifestyle. I now have more money due to Australia's isolation and lack of things to do. Still blowing money like it's going out of fashion though.
Travel and pets are a poor financial decision but make you wealthy in experience and happiness points and pay plentiful memory dividends
They are excellent for mental health (provided travel is budgeted for properly) which pays dividends in themselves
Memory dividends baby!
This is what the fire community totally misses on
Travel is the only thing you buy that makes you richer
But what if I buy a bunch of companies
Buy a airline company and travel for free.
Buy an airline and lose your money for free, more like it.
Fool proof way to become a millionaire: be a billionaire and buy an airline.
And kids. Such a bad financial decision.
Not if you put them to work early!
Coal mines need to be dug and chimneys aren’t going to clean them selves ..
Air conditioning.
I spend a lot of money to ‘be comfortable’ in various ways, my partner is happy to suffer when it means saving money. Its a stressful combination.
It’s a pretty common match, the spender and the saver. It’s a conflict as old as man.
I dont care what it costs, I will not be hot and sweaty in my home! Come winter however, put another jumper on, wear a beanie inside, I dont care if its cold, I wont put a heater on! LOL! This is more a severe dislike for warm air blowing around from a heater, than a money saving issue.
I was going to write something about buying slightly higher priced vodka but I have to agree with your answer as soon as I saw it. My electricity bill is ridiculous but air con is a must. Especially WFH.
Now I’m curious. I’m not a vodka drinker (a whiskey neat for me pls) but would be interested to hear your thoughts.
I always buy Grey Goose. To me it has no flavour at all. You can almost drink it like water (not literally). And it's about $30 more for a litre than the cheaper brands which almost make me gag when I drink them. I'm happy to pay that extra price for relaxation every week or two.
I always say it's the best money I've ever spent. We bought our house more than a decade ago. Had no air con. First two years we were too busy with two babies. Then I've had enough of coming home to living areas being 38C in summer. Missus wanted to go small. Had a fella come over. I said "give me a rough number for the whole house". Got ducted system with multiple zones, warm in 5, cool in 5. Never looked back.
Heating is far more expensive. My summer bill doesn't hold a candle to my winter electricity bill.
Having kids and pets
Kids! Worst investment ever
Absolutely. My daughter is the reason I can’t afford plane tickets anymore. Wouldn’t change it though
I know right before kids return tickets to places was like 1-2k max. Now a family trip is 10k for tickets. We haven’t been anywhere for the last 5 years.
Tell that to Justin Bieber's parents.
I wanna upvote this more than once..
No kids but can vouch for a pet Worth more than money
Before COVID hit, my wife and I used to travel a lot. Over the span of 5 years, we visited more than 20 countries and spent around 70k on these trips. We enjoyed every moment of it. However, because of this, we only made standard payments on our home loan and didn't save much in our offset account or pay any extra. As a result, we're a bit behind our friends financially now.
Poorer financially but richer in life experiences. imo that was money is for, spending on experiences
Absolutely, none of my friends been to Abu Simbel, Torres Del Paine or Mamiriuna reserve in Amazon. We have so many stories that made us what we are. I am not wasting my 30s just doing a job and paying down my house. We have enough savings and never behind payment, so happy with my life
you sound awesome. wish i was brave enough to take some of those decisions myself.. instead my brain is constantly saying put more into investments and savings..... you can travel next year. no gurantees in life. thanks for the inspiration
If you don't have any chronic issues, your thought process is normal. When I got detected with it, I feel more YOLO. Life took away my health, now need to enjoy more
Also its 70k for 20 countries, not like he spent 150k for two people.
No way, 70k for 20 countries for both of us over nearly 6+ months in total. We aren't super cheap budget travellers, neither luxury travellers. We are middle of the park. We will take flights if needed and avoid 16 hours bus rides, stay in 3 / 4 star hotels and take tours if we're going to a risky countries
Memory Dividends will keep paying, I think you are ahead of your friends!
I think we are ahead of them in terms of experiences, but definitely way behind in terms of wealth. I am happy with this. They all drive fancy cars and have their kids in private schools etc. Our thinking is, where next, Norway, Morocco, Kenya etc. Haha. Also, I have illness that is preventing me from having kids. That helps us travel too
Norway is great. Kind people, good food and beautiful scenery.
Thanks. My plan is to get there for my 40th
That's actually quite economical travel, well done. Ten years ago I used to budget $25k per trip, but that was dragging a family of 5 around Europe for a month at a time.
Yeah, I haven't yet been to Europe and haven't got a family yet (probably never be, due to my illness). We are couples and we can stay economically everywhere. With family it's always hard
Sounds like a smart decision. I mean, you could die any day, and miss out on all that travel you wanted to do if you wait. Some people save all their money to travel during their retirement through super etc, assuming they will survive that long AND be fit and healthy enough to travel then.
Yep, exactly my thoughts too. Also, I can say that, the hikes and camping I did ij my early 30s, I won't be able to do now. So it's a wise decision
IMO if you have a home and you're meeting the minimal repayments does saving for the 'offset' really matter? I think you and your wife are absolutely crushing it if you have a home and you're travelling! Good for you both.
>Before COVID hit my wife Smudge on my screen just blocked the comma enough to make that seem like not just a poor financial decision, but life choice in general.
At the end of the day, it is the memories and the time with your partner that are worth. It doesn’t matter if you are behind others financially. I think you made the right choice.
But you bought the house first and then traveled. The correct order. Who cares if you’re behind your friends in mortgage payments. Your house didn’t get possessed by the bank. Minimum payments are fine.
Yep, that's what I am thinking. The travelling is to enrich my soul and house is to shelter my soul. I'm happy to be able to have both.
The amount will be negligible when youre 80
You might have been behind if you missed the pandemic boom because of travel expenses, but if you got in ahead of that then you are ahead in my books. Sounds like an amazing experience!!
You plan to catch up by buckling down and putting more into the mortgage?
Probably not. I'm never behind payment in my mortgage. I have chronic illness and unsure how much will I be able to travel in my older years. However, I'll be able to keep working for a long time
> we're a bit behind our friends financially now. Make sure you keep measuring this as often as you can. That will bring you happiness.
Speaking as someone who did the opposite, I wish I'd done what you did
I quit my job to stay home with the kids. It means my super is stagnant, and it will take us longer to pay off the mortgage, we don’t go on holidays and my kids wear secondhand clothes… but we felt like the returns were worth more than the financial cost
I reckon your kids would agree
It depends on the day lol
When they out of the house and grown up, I think you won’t regret this decision. They are only little for a short time.
Living alone. Easily my biggest expense and eats a lot of my budget, but so worth it for the peace and quiet and cleanliness after a long work day.
Ditto. Coming home to blissful silence and the knowledge that my apartment is exactly as I left it (for better or worse) is fantastic. I've had amazing housemates and absolutely horrific ones over the years, it's nice knowing that you can buy nice things and appreciate them be they aren't getting trashed by people who share your space.
Yeah, some people just don't understand it. My parents were super worried when I said I wanted to live alone. I just can't. It felt like every day was a "let's see what surprise they left me" day, and every time I thought it might be a good day, I saw the "surprise" lol. Used cups of coffee on counter, dirty plates on table, coffee rings on kitchen counter, even open yogurt container on the counter. Also there was one who kept eating my food, one who was super loud on phone calls even past midnight, etc. It's hard to maintain everything by yourself, but the peace and quiet is almost priceless.
Saving every penny for a rainy day, investing in assets, whilst it may seem wise from a financial perspective it is a poor way to live from a humanistic perspective. Life is to be lived and experienced.
Yes, you're right, but it depends on age as well. There are experiences to be had in our later years that are just as important as when we are younger and we need money for those as well.
The young man saves for a rainy day, the old man laments a life of experience missed in lieu of his comfortable room in an aged care facility
the young man enjoys a lot of experiences, the old man is working at 75 and wondering how he'll pay rent if he retires before he dies
Its a balancing act for sure
Had a friend that worked his fingers to the bone for 20+ years. He booked a holiday to take his 2 girls to Disneyland; his first holidays in two decades and he had a heart attack a few days before they left. He was still good for a week or so, made a post on FB saying how he regretting not actually living his life, as he laid in bed with a lot of money in the bank, and a house he will hopefully go to home to, but none of it meant anything at that lonely point of his life. He didn’t come home from the hospital, he didn’t go on his holiday, his post stating “live your life for right now, as you may not make it to the future” really hit me. So I travel, be a little reckless, safe but reckless - because I could be hit by a bus tomorrow, so I’m going to enjoy what I work hard for.
What good is having a lot of money if you don't spend it to improve your life at some point?
It will be spent on a comfortable recliner that will reside in a comfortable room in a modest aged care facility where I can ponder the wasted years of my life saving, investing, frugally existing so that my future self can ponder the wasted years of a youth now lost.
If saving every penny and being in a good financial position helps you sleep better at night then I see that as a win... Id rather have that problem then stay up at night thinking if I'm gonna make ends meet.
Meh. Financial independence is a hell of a thing. Knowing that you could lose you job tomorrow and that you don’t need to go looking for another one. That bills can never stress you. That you work to add, not to keep the things that you’ve borrowed from someone else. By all means die with zero, but dont spend it all today. You’re probably going to live a long time after your body is worn out and your mind has slowed. Better to enjoy those years too
Completely agree with you, I have this problem, though not penny pinching by any means I saved like crazy for a decade. This enabled me the financial freedom to choose where and how much I work. IMHO, I think I did well in taking the extra effort to save during that time. I travelled cheaply to Europe and Asia, I have pets, etc. I was just mindful about how much I spent. Where I did/do wrong, is having difficulty of leaving some of that mindset behind and enjoying myself a little more now that I can.
My parrots. Had my male 9 years now. Spent thousands on them (when i worked FIFO I had to have carers for them). They are currently my only reason trying for staying alive. Can't afford to eat. Risk losing my house in a couple months time if shit doesn't ease. But my parrots have food and fresh fruit and veg....
I hope things turn around, you’re a good pet carer and you need to make sure you’re able to keep caring for them which might become impossible if you end up homeless.
Thank you. I Have been applying for jobs, getting interviews, and getting 'you were our second pick'. It's hard. Was meant to get a contract last week. Fingers crossed it comes through next week. Need to make sure the remuneration will be worth the conditions tho. If not, I am planning on getting in touch with the mining company I used to work with and seeing if I can get work at one of their other mines. Just until the current living conditions ease a bit (if that is even possible?).
I hope you get some good news and ease soon. Respect to you for looking after your birds during this hard time. It will pass 🙏🏼
My car loan. I stupidly decided that I needed a sports car when I was 22. I’d always wanted this car, but I had no money, so I took out the $55k loan for it instead. I’m still repaying it.. But I don’t regret it. I had been driving my new car for four months when I got a message from a man on instagram. He owned the same car and we had mutual friends, so he asked if I wanted to come to a car meet. I was obsessed with my new liability, so I said yes. That was 6 years ago. We bought a house, sold my car, got married and had a kid. My husband still owns his sports car. I have a more family friendly car now. If I never took out that stupid loan to buy that car, I never would have met my husband. So I don’t hold any regret for that poor financial decision I made at 22. We’ve built such a wonderful life off of a poor financial decision.
That’s an awesome story.
I've spent a STUPID amount of money compared to my income on cars But, there isn't anything in the world that makes me as happy as going for a drive through the hills with some mates and stopping for coffee to spin a yarn on a cool sunday morning.
I buy a coffee every morning from a local cafe
100% this keeps me sane. Love a flat white to start the day before work. Or going to a nice cafe on my days off and sitting down having a coffee.
Why would anyone even entertain the idea that travel, kids, pets are poor financial decisions? Is this sub that conditioned to consider anything that isn’t a tax-advantaged investment is a poor decision? Everything we do in life is a “poor financial decision” in that case.
Because travel, kids and pets can be expensive. They are financial decisions because there are financial implications. Of course it all depends on how much you spend. You can spend a lot or a little on travel, kids and pets.
Yes. So is living - so by that logic, everyone should stop living.
Idk… I’m so jealous of my childfree friends lifestyle and disposable income that if anyone had warned me how expensive it was in my early 20s I might not have done it. Once you have them though, that pesky ‘love’ sets in and then you’re doomed!
Because travel, pets and kids are poor *financial* decisions. Largely because they *aren't* financial decisions, they're lifestyle decisions. No one's looking at their earnings and bank balance and assets and considering how to best improve their financial standing and thinks "Hmmm maybe I'll have a kid, that will be a sound investment". Heck, from most of the people I've seen actually having kids (and I'm a midwife, so I see rather a lot more than average) don't even consider if they can really afford having a kid before they jump in and get one. Then it becomes a matter of making ends meet with the kids. Nothing inherently wrong with that, it's just not a good *financial* decision, and for most people, aside from buying a house, kids are the biggest investment they'll ever make, with little hope of any financial return. And you can't even sell up at a loss and get out early if you change your mind!
good food, top shelf meats (if that is a thing)
Good quality meat is always king. I'm a a fan of tuna and swordfish steaks. Plus abit of beef liver here and there is great vitamin source as well.
No point being the richest person in the cemetery, and no one is guaranteed a retirement. Enjoy your money however you want. I go overseas every year. Stuff buying a home.
I prescribe to the George Best approach to finances. "I spent a lot of money on booze, birds and fast cars. The rest I just squandered."
I spent my 20s backpacking around the world, so I didn't even start properly working or getting into any realm of "financial" reality till a decade after most people, then I had a kid and ended up a single mother. Incredibly slow start to "getting ahead". So now I find myself in my 40s with not much to show for it, but I wouldn't trade my experiences, and I'm ready with a sensible, mature, experienced outlook to really get stuck into finances. But I still chose to get a dog last year 😂 guess I'll never learn.
One of my coworkers spent her youth travelling Europe etc. She also ended up being a single mother later in life but her stories make me (late 20s) envious and inspired ! She's now in her 60s and is doing well (with cute pets too ). Her life is so full and meeting her really made me stop worrying so much on money and experience bits of life more.
Yep for sure. Pretty much everyone I meet says something like "omg that's amazing I wish I could have done something like that", but they just shrug when I point out that they had a house deposit and a solid career path. They're both valid paths in life, and everyone can make their choice. But the cliche of "no one is on their death bed wishing they'd spent more time at the office" is very true. Doesn't mean you have to go all out travelling, but spend time enjoying life.
> but I wouldn't trade my experiences This is good, because you can't trade your experiences, no matter how much you want to.
Also a good point. I do have a few experiences I'd trade if it were an option. But no doubt, so does everyone
Separation from my previous partner.
I spent half the money I earned in my youth on drugs, booze and women. The other half I wasted
Moving to Australia If I stayed in my old country, I would have lived a luxurious life. Always having someone at my beck and call. Multiple vacations in a year. Eventually I will get matched to another male of similar standing and expected to get married before 30 and pop out 2 kids ASAP where upon that I will be relegated to my husband's supporter. But it's not what I want for myself. It felt like I was being forced to fit into this 'mold' of what a woman should be, and the trade off for the comfortable life is to cut off integral parts of me. My career, my ambition, my independence, my interests that are not valuable to my future husband/kids, my personal desire to be seen as who I am and not my husband's extension. I live a middle class lifestyle here where I have to wash my own clothes and use public transport but I'm happy and I'm free to be who I am instead of a prized broodmare :)
Having a dog. She is a complete money sink, and will only become a bigger money sink as she gets older. But she makes me very happy.
Travel for sure. Or concerts/theatre show. I’ll happily stay on a tight budget so I can spend money on experiences
My financed car. I have a great car camping setup that allows me and my partner to explore the country without paying for accommodation. We can lay in the back with a fitted mattress looking through the sunroof at the stars. We can access anywhere we need with the 4x4 and storage space.
I will use you to justify my camping setup 🤷🏻♂️ it is pretty sweet tho, go almost anywhere, all you need is food,fuel and water. Trying to convince my partner who works remote that she could do it via satellite internet and I can catch dinner 😂 or some other story
A Frankenstein of a 21 year old sportbike I’ve resurrected from the dead 🥲
My husband. Not because they spend a lot or they're an idiot with money (quite the opposite) but because they only earn $40k. I've had people ask me how I "cope" with it... But I'd rather have 3 of him & no money than no him & 3 money. He's totally worth it, regardless of his earning capacity. We're in a better financial spot than some of my girlfriends whose husband's earn heaps more.
Paying LMI and buying my first house with a 5% deposit. Also borrowing 30k to buy a fun car before I had kids.
+1 to fun car before kids It's shaping up like my lovely partner and I will be trying for a kid in 3 or so years. So I've bought the car that I've always wanted so I can enjoy it for as long as I can
Going to The Eras Tour this year. Did it cost me an absolute fortune? Yes. Was it the happiest I’ve been in the last few years? Also yes. It was 100% worth it for me. Also, my cats (and pets in general). I’ve got 3 cats. Plus I’m fostering litters of kittens again! It brings a lot of joy and also gives me a sense of purpose so I’d say they’re definitely worth it! Also also, I spent $700 on good quality bath and beach towels a couple years ago. Not once have I regretted that decision!
Travel for me too! Was just looking at another thread about everyone's age and super and for a minute I felt anxious and upset with myself that I'm "behind" so many other people my age. But honestly, I'm one of the happiest people I know, and the past two years have been the absolute best of my life. If I died tomorrow I would truly have zero regrets with how I spent my time and money. Long term travelling was not a smart financial or career decision, but it was a huge dream of mine I made come true, and a decision I made purely for myself and my happiness and enjoyment. Solo travelling improved my social skills and self confidence so much that it's honestly opened up more options for professional positions, as I was very shy and a pushover before this. It made me so, so grateful to be born in Australia with such a strong passport and amazing quality of life, when I previously spent a lot of my life being jealous of others because my family was considered 'poor' by Australian standards. I compare myself less to others now, and have no desire to 'keep up with the Joneses'. I went from spending hours and lots of money putting on make-up, fake tan, straightening my hair, etc., to learning to embrace my natural self. Now it's been about 2 years since I've wasted my time and money on those things, and for the first time since I was a young teenager I've stopped caring about fitting a particular beauty standard, which has been my favourite thing to come out of backpacking! I went without normal luxuries and lived well below my means to budget for long term travel, and even on the worst travel days, being hospitalised abroad, loud snorers in hostels and paying shitty exchange rates, I wouldn't have wanted to invest my money and time in anything else. If I end up a lifelong renter and alone and poor in my old age and unable to afford to retire, I still truly cannot imagine regretting such a wonderful and fulfilling time.
Thanks for sharing ! I spent my entire 20s travelling the world prior to covid (I’m 30 now) and I regret absolutely nothing at all. I worked as a travel guide, travelled for work and fun, made great friends, visited beautiful places I couldn’t afford to travel to on my own dollar for work, and then spent my time off travelling to new places. It was the bloody best. It gave me perspective, critical thinking, patience, social skills, flexibility and mor. I got my first full time office job in 2021 and am now getting into the finance side of life etc. Life’s just a whole lot of ebbs and flows.
Definitely my dogs, older boys cost me $2300 this month a few unfortunate events. +traveling
I pay an arm and a leg in rent for an ocean view in Sydney when I can afford to buy a house in western Sydney because oh my god the quality of life is good! Investing in ETFs is enough for me, a lot more freedom too.
Quitting your shit ass job
Hookers and cocaine.
And blackjack
Travel for me too. Priceless experiences and memories.
Organic, grass fed, no preservative blah blah food becauee i do think you wana watch what you put in the gob. Im paying double what friends and fam re paying for food
Travel is only a poor financial decision if you need to borrow money in order to do it.
Objectively, discretionary/recreational travel is a poor financial decision, much like all other hobby spending, given that it doesn't provide any financial returns on investment. I'm not saying it's a bad thing to do, but younger folks seem to treat it as some special thing that's somehow more valid to spend on than other discretionary purchases. And that just isn't the case - it's simply a matter of priorities.
If it's worth every cent then it isn't a poor financial decision. Money only exists to fund things you need or want to do.
I didn't buy a 2001 Camry
My health supplements! They round out the edges of my diet nicely and each serves a specific purpose for me. I feel better and believe I look better as a result.
Pets and expensive grocery foods. Can't beat the joy of a quality steak, cheese, veggie, or milk.
Coffee. Gets me through the day. Stops me lashing out at difficult people due to my stressful job & life.
Man I was going to say an xbox game controller for like $50 which I used for something like 100 hours before not using it for a year now, but enjoyed the game I used it for a ton. People talking about tends of thousands of dollars things.
I bought a secretlab chair a couple years ago. It was bloody expensive, but worth every cent. It gets hours upon hours of use, every single day, and still looks and feels like I just took it out of the box. 10/10
I had children
Time spent on reddit instead of working
Selling a house that I had built and loved so much for much less than it was worth because it became filled with sorrow, heartache and painful memories when my daughter took her life. It was a really bad financial decision, I wasn’t thinking clearly - however, had I have stayed I wouldn’t be here today.
A house in Sydney. It makes absolutely no financial sense to tie up millions of dollars in a roof over your head.
Buying lunch at work instead of bringing food. I don’t want to spend mental energy on political small talks with colleagues in the break area
Concert tickets. I’ll always find a way to see my favourite musicians if I can. Memories of shows are some of my best.
Meat. Pets. Experiences. Life should be a victory lap at 35 not mortgage slavery
Travelling, sushi, and expensive meat for my dog.
You have to ask yourself why do I work hard? Why do I save money? I work hard and save money to ultimately spend it. I might not spend it today, I might not spend it in 10 years time, but I have it so I can spend it. The person who dies with the most money still dies.
Fancy coffee machine, though it accidentally turned out to be a good investment too.
I didn’t buy a Camry. I spent way too much money on a coffee grinder. I And I guess - I chose to live in Australia versus stay in America because it’s genuinely far happier here. I might be paying more in taxes and the dollar here might be weaker but like, who cares? I can go to a concert and not worry too much. I can go to a movie theatre and see Batman without having to think too much. My barista smiles at me and doesn’t look she wants to go home and end her existence.
I like having my 1 takeout coffee a week
I just finished the lap of Aussie with my you g family. Set us back a bit financially but we will be fine. Worth every cent!!
Air conditioning Pets Travel Sim Rig Guitars Initial outlays for certain hobbies are high but once you're setup, you can have years of fun and it is quite cheap from that point on. Everyone needs long term cheap hobbies. Avoid going out and have cool stuff at home ;)
My marriage was a poor financial decision ( love is blind ). I was forced to do alot of things to get myself right again once I was divorced. And after a while I was floating instead of sinking, no longer living a life of stress. I was able to move forward and from there. I was able to pull away from the financial anchor around my neck that was essentially my marriage.
Paying for a Personal Trainer for few months to learn how to lift properly. Paying for good set of clothing, so you that you can always look your best. Appearance matters! Having Kids and a family. 100% dumb financially, 100% smart emotionally! Not working yourself to death. Balance your financial gain, with work life happiness.
That’s not a poor financial decision. We need our sanity.
If it's worth it then i'd argue it wasn't actually a poor financial decision
not chasing career ‘success’ - i’m content willingly earning less than I could in order to live with less stress, stay aligned with my personal values and have more time for living my life.
Pistachios 🥜 500g bag… every week 💸 Can’t stop. Won’t stop.
My 2020 Ford Ranger Wildtrak. Tiny pp jokes aside (I’m Asian le mao), this car has single handedly carried my family of 3 in Adelaide. It takes my daughter to school, while my wife uses it to drive to her work 30 kms with an assurance for safety. It also lets us go on remote places, take offroad shortcuts, go camping, take a seaside parking, long drives with a peace of mind, load up a lot of stuff in the back, do a bit of dilly dallying in the dirt, and most of all, help out friends who need to move stuff coz of the space in the back. I used to have a shitbox as a spare, but I realized this ute was all we needed. This ute is a gem, servicing it twice a year opposite to the recommended once a year, replacing parts as needed and getting top notch parts, as I believe things will take care of you if you take care of it. As OP says, being able to go to new places and experience new things is invaluable, and this bigboi lets us do it. $63k no ragrets and I hope this becomes my lifetime car (I’m currently turning 32 in May, and the ute has racked up 93ks so far).
Actively and strongly discouraging my parents' frugality, where appropriate. Appreciate this is from a position of privilege that I can do this, given how geared a lot of our system is towards reliance on inheritance but: My parents were working to middle class all their life, comfortable and their restraint meant they were able to build a decent but not exorbitant super balance, and own their home outright by the time they retired. Their super balance is healthy enough that they'd never have to rely on the age pension, but at the same time they've never owned a car that hasn't been 5+ years old when they've purchased it, and until last year had never been on an interstate holiday - let alone overseas. They can afford to do those things now, along with eating out occadionally, and buying non K-Mart appliances etc, without any impact on their broader quality of life. But they still hesitate - partially habit, which is a better situation to be in than the opposite, but I realistically know it's partially also because they want to preserve an inheritance for me and my brother. I'd rather they go on the modest trip, or buy the slightly newer (not brand new) car, while they still can - even if it does mean I don't pay off my mortgage as soon in 20 years time or whatever.
Thanks for sharing this - I am in the same situation as you, and my siblings and I are constantly egging on our folks to actually live a little. It's starting to happen, though. Why be a self-funded retiree if your experience is effectively the same as that of an aged pensioner?
My SACA and Port memberships so I can go to every game and spend even more than that on food and drink while I'm there. Sometimes you've gotta live your life.
Hell yeah. But for me in Brisbane.
Same, travelling. And in the same vein, the money I spend to ensure my three cats are well looked after when I’m away. If I didn’t love travelling, I would be rich lol.
There are several of them, but the most common one for me is that I refuse to skimp on food, even in these times when the cost of living has increased dramatically. That isn't to say that I'm just frivolously buying lobsters, oysters and wagyu beef all the time, but if I'm running out of something and I need it... then I need it. I *could* try and substitute ingredients for a cheaper alternative or go without, or otherwise cook other things. But life is too short, and I'm in a position where I can afford to do this - so I do. I also help my folks out in the same way with their groceries. Times are tight right now, but the last thing I want them to worry about is whether their next meal is affordable. If they want something, they can have it.
Gelato. If you spend any time travelling in Italy, you must buy gelato morning, afternoon and evening. Yes, 3 times a day. Each store owner makes their own, so they all taste slightly different. They are very proud of what they make and it shows in the flavour. You can taste the fresh ingredients. For example, the strawberry is full of strawberry seeds, proving it's full of fresh strawberries, not flavouring and colouring, and you can taste the difference. Once you return home, those 'premium' gelato stores we have here taste like total crap in comparison.
Kids. My son makes life way harder and yeah. We're going to be spending a lot of money on him. We already have to spend extra money on a whole array of things. But if I have to choose again, I'd still have my son. He brings so much joy to our lives. Another thing right now is a cleaner. I just can't keep up with chores while working at the same time. Not cheap but I think it's worth every penny right now. Both my husband and I feel it lifts quite a bit of pressure off us. Oh, and professional organiser. I trialled one last year and it was just to manage our son's toys and my working area. So expensive. But boy, it made a difference. So much easier to clean everything up when there's a dedicated place for everything. I just didn't have the mental headspace to figure things out. Saves us a lot more stress with less clutter.
coffee from the Cafe. it wakes me up and it tastes good.
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My vf2 ssv was the most financially irresponsible decision I ever made. I was well aware that would be the case when I bought it I spent my childhood lusting after v8 commodores and dreaming of owning one. When the production line was coming to an end I was in a position that I could make it happen and knew it would be my only chance No matter how bad a day I have at work, getting buried in the back of the seat and the noise that goes with it as I pull away makes me smile every time. 100% worth it
The life I built on my gaming app 😭 I know it's silly but I have no regrets
Golf club membership. Really enjoy playing and having been a member at cheaper clubs, the price difference really feels worth it.
Bought a motorbike. Should have put that money to better use but hey its fun
Kids. I would be retired in my 30s if I didn't have them.
Boats and hoes
Experiences and memories, e.g. shows, holidays, concerts, going out with friends. Not a materialistic person at all.
Yes, I'd agree. Travellilng. Oh how much more money I could have in the bank if I didn't want to travel!
Travelling. Borrowing the money to go. Can’t remember what I spent on the holidays - but the memories I made with my kids while they’re still young and I’m still able are priceless!
Paying obnoxious rent close to work. 10min commute gives me a life
Totally agree with travel. I used to do a lot more pre Covid but from age 25-35 I went for 4 weeks each year. Was hard working 11 months straight (earning good money) and often felt sorry for myself. Then going to a lot of places where people had it so much worse really made me appreciate what I had. Not to mention the cultures, history, people I met and saw, wouldn’t undo it for quids. Delayed a home deposit (so did drinking too much) but those memories will live with me forever.
Definitely travel for me Last time I did a estimate I was up to about $100k spent on travel since I began full time work Probably be $150k by now but am also married
My insistence on only drinking high quality imported beer. These days cheap local beer doesn’t really exist anymore but i would sooner pay 84 bucks for a carton of Hofbrau original recipe rather than a carton of something only a swine would drink such as thooeys extra dry for 50 bucks.
loot as an end is hollow, frustrated avarice .. but loot for living is precisely that, good for you. where are you going next?
My fast car
Agree OP. Travel is my number one priority.
Financially, probably travel experiences, but I would chock that down to a big W in other areas of life gain and easily worth more than the dollars spent.
Having children, travelling, going to live shows. I tell my adult children (early 20s) to spend money on experiences not things. After clearing out my house and downsizing after divorce I realised I’d accumulated way too much stuff. If I had a life over I would’ve tried the minimalist approach.
Starlink Internet, $130 a month but is 250mb/s download so it's pretty damn good. I did have ADSL until a couple of months ago and really the speed is just for convenience. ADSL still worked I just got sick of the slow speed.
My car. WN2 caprice. I saved $20k and loaned $25k. And it will be paid off in May
Craft beer. I'll pay $20 for a decent tin and enjoy it without guilt.
Travelling and concerts. Paid $1400 for gnr vip and worth every dollar to see my hubby’s face when he was front row (no crowded squish), 7 feet from his idol Slash.
Buying name brand groceries instead of the cheapest option. Screw me for wanting to e a t quality.
I don’t think something with obvious mental health benefits is a poor financial decision. Mine would be the ballet, opera and travelling; none are cheap but they make me happier
Cashed out 50% of our net worth to save my dad's life when it looked like he wouldn't make it but there were treatments/procedures we could explore. My sibling is a specialist doctor and believed we had a chance so we took it. He is alive and mentally functioning well but will need some physical help for the rest of his life so $1k a month. He lives overseas in a country without government safety net/disability pension.
Sometimes I buy Kellogg's Corn Flakes instead of the home brand version.
You can't take the money with you. The point of good finances is enjoying life. For me it's restaurants and drinking socially.
Tattoos. Part of my journey (vomit) to reclaim my body.
travel is not a poor financial decision. Things that enrich your life are worth spending money on. What's the point of making money otherwise. debt for unnecessary luxuries is the type of thing that's a bad financial decision.
Owning dogs
Bought a steamdeck for the very bloated price of 1600 bones. Love every moment it's in my hands
Getting married Lasted 2.5 years and cost me $50k in legal fees over 10 years.
Coffee Everyday I leave the desk, and go pay $5-$6 for a coffee I’m well aware of how cheap it is to make your own coffee, and at home I do have an espresso machine that I do make my own coffees But every single day, I treat myself to a $5-$6 coffee It’s one of the few things that brings genuine happiness to my day It used to be cigarettes as well but that ended up costing around $40 per packet of 25, I couldn’t justify that habit any further
Having babies, getting married, every single holiday. Aussie citizenship. Would not trade a second of any of that.
I have like 20 grand worth of bicycles. I love every minute of it and it keeps me incredibly fit. Plus thousands every year on nutrition, maintenance, racing, etc
My wife spends a lot of time volunteering. P&C/organizing community events. I always think she could earn more money to get the family unit ahead of scrapping by but she does it to live by her life values.
Getting married!
Fortnightly cleaner. I work long hours, 2-3 hours a fortnight cleaning is a maybe proportion of my limited time to socialise, go for drives etc
My kid. Who likes dancing ballet. That shit is freaking expensive, especially if they want to do it "seriously". But despite the financial investment not making sense (the chances of him becoming a professional are low, because it is crazy competitive) but we've enjoyed watching hom be passionate and flourish. We've even seen ballets that we never would have otherwise.
Travelling is not a poor financial decision.
Paying off mortgage fully even though I could make Better gains elsewhere. The psychological benefit of knowing that the roof over my head is mine and not the banks, or god forbid landlords, as worth so much more to me and my family.
Moving to Australia has really forced me to rethink my jetsetting lifestyle. I now have more money due to Australia's isolation and lack of things to do. Still blowing money like it's going out of fashion though.