Achieving your ultimate financial goals requires you to be selective in how you spend your hard earned money. Being a wasteful or frivolous spender leaves less money in your pocket to put towards eventual financial freedom. But being wise with your money doesn’t mean living in a cardboard box and subsisting on bread and water – it simply means executing selective spending. Spend your hard earned cash on things that matter to you.
Here’s a list of 5 things I don’t mind pulling my wallet out for:
USDA Prime rated steak, lobster tail, crab legs and beef tenderloin are all expensive items you may find in my grocery cart (although likely NOT at the same time). As expensive as these items may be at the grocery store, I know how to cook them and have them for dinner at a fraction of the cost of ordering them at a restaurant.
After reading the previous item, you’re likely surprised dining out is on this list. Let me clarify. I detest dining out and ordering something I know I could make at home better and cheaper. Which is why I usually look for something on the menu I hadn’t heard of before, or haven’t made at home. Trying new foods is exciting, and gives me ideas to try at home.
The only thing more fun than a night out listening to live music is doing it with friends. Last weekend my wife and I went with two other couples to listen to a band play outside. It was a crisp 44 degree Minnesota evening, and they were serving hot apple cider mixed with Fireball whiskey. The music was great, the cider was perfect given the weather, and the company was fantastic. I couldn’t have asked for a more fun evening.
If you’ve gotten the impression I like food, you are correct. Wine and food are complementary, each bringing out and enhancing the taste of the other. One of my favorite activities is going to wineries and sampling their wines. I also like going to wine tastings at liquor stores and other fund-raising events. They are tremendous opportunities to try new types of wines at a low cost. If I find one I like, I’ll buy a bottle and serve it with an appropriate meal making dining at home even more enjoyable.
A Gym Membership
I like food and booze, but I love working out. A gym membership allows me to do any strength training exercise 10 different ways due to variety of equipment too large to store in my house. I’m able to run indoors when I don’t feel like dealing with weather outdoors. The membership gives me access to a pool, sauna, hot tub, racquetball, basketball courts not to mention batting cages and mini golf. I pay for it every single month, and I don’t feel the least bit of regret for it. The people at the front desk at my gym see me almost every single day. In all honesty I can count on one hand the days I didn’t go last year. My health, and the enjoyment of being healthy is 100% the cost of my gym membership.
I pause with every purchase and ask myself if the pending expenditure is worth giving up money I’ve worked so hard to earn. But with these five things, the answer is inevitably, “Yes!”
How about you, EOD Nation, are there things you absolutely do not mind spending your money on?