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The following guest post was written by me in February of this year for Life and My Finances as part of a “Yakezie blog swap” where members of the Yakezie Personal Finance Blogging Network pair up and exchange guest postings on a common topic. The topic of this blog swap was to discuss a time that you were happy that you splurged on a purchase. I wanted to post it here as well so that you all would have a copy! Enjoy!
- Buying drinks at a bar or restaurant is a rip-off. It’s better to drink before you go out.
- Be cautious of “extras” that a travel company or hotel offers to tack on to your package once you arrive at your destination. These can add up quickly!
- Leki treking poles – $200
- Lightweight tent – $125
- Baltoro 70 Backpack – $280
- Prolite air mattress – $100
- Camping stove – $35
- Water filter – $100
Clearly, this is a significant investment of money in backpacking gear.
However, I was glad that I made the purchases because 1) I had done a significant amount of hiking and knew that backpacking was something I wanted to take up more seriously, 2) my cash flow while working at a full time engineering job would be more than my income in graduate school (which has turned out to be 67% lower than my f/t job income by the way), and 3) getting more involved with hiking would be directly in line with my Purposed Focused Financial Plan and my life values.
Financial Lessons Learned From Splurge # 2
- Large purchases are OK, as long as they are planned out in advance
- Purchases made to support your core life values are very useful.
How about you all? How often do you splurge on purchases? Are you more often glad that you did, or do you wish you could undo your actions?
Share your experiences by commenting below!
***Photo courtesy of http://www.stationstops.com/blog/wp-content/uploads/2008/07/fotolia_8215027_xs.jpg