Here's the story. I was driving with Danielle, a friend from work (the same exact salary), and she was talking about her tanning membership. She mentioned the monthly cost and I swear my heart skipped two beats. I remained calm on the exterior while my internal alarms went off thinking "You pay WHAT to fake tan!? You've GOT to be kidding me! ... you do realize the sun is free right? and skin cancer? and..." (Disclaimer: I am not judging those who fake tan, and I am fully aware that your arms really do look more toned with a nice tan). Here's the thing though, her tanning membership is approximately the same monthly cost of my overly priced (and yet so charming) yoga studio. In the end? we end up the same. Its just how you pick your poison.
So here's the concept. No matter what your financial state is, you are going to have to make choices. For Danielle and I? Do you spend the money on a tanning membership or a yoga membership? My mom on the otherhand chooses to get her nails done weekly and a pedicure every month. Is there anything wrong with spending money on yourself? absolutely not! Everyone has their poison- the trick is to not pick TO MANY poisons.
How do we do this?
(1) Look at your big purchases. Your house, your car, your vacations. You have to decide how to allocate your income and still have some disposable income for those irresistible shoes.. oh yea, and groceries. Maybe you are a car person and could care less for a large house. Maybe you will sacrifice both for world vacations? Just realize there are sacrifices.
(2) After you look at your big purchases, make decisions with your income left over (your disposable income). Do you need to buy a bridesmaid dress this month? This might not be the month to order a round of drinks for everyone at the bar then. (When you do decide to order a round of drinks for everyone at the bar- don't forget to invite me) Pick what you spend your money on. Do you like nice highlights? or namebrand clothes?
Yes, this concept is simple. But it really, truly applies to everyone. (Even multimillionaires have to decide if they want their next mega-mansion vacation home in England or Paris) Be careful that your eyes are not bigger than your wallet.
So.... What is your poison? What do you give up? How do you decide? ....Until next time, Happy picking!
so true. I had a huge argument with someone at work today about the fact that people don't know how to spend on things that are quite important in life, and not frivolous.
ReplyDeleteyou forgot guitars ... :)
ReplyDeleteGreat post--we're currently saving for a house and for two vacations. We decided to delay our home purchase for another year because we want to be able to take these two big vacations, but we want to have a specific amount for a downpayment. A lot of people don't understand why we don't just forgo one (or both) of the vacations, but we can't have both at the same time and a house just isn't a priority for us.
ReplyDeleteI prefer to spend money on experiences rather than "stuff" - going out for drinks, nice dinner, travel, etc.
ReplyDeleteThanks for FINALLY posting something! I check every day because I love everything you have to say :)
I would have to say that my poison is traveling. I have a big world map with a handful of pegs, marking the places I've gone and the places I want to go. Great post!
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