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My Youtube feed lately seems to be filled up with a lot of “10 things that are no longer worth your money” videos. Sometimes the number varies ….. 5, 12, whatever. But the message is always similar – avoid expenses that will hurt your financial health over time. And generally the message is pretty sound – avoid car loan repayments, multiple subscriptions, take away food deliveries.
But a recent video from Christina Mychas left me feeling sort of sad. The list felt like it was part financial advice, and partly a guide on how to remove all joy from your life. Now I don’t mean to disparage Ms. Mychas, she puts good solid financial advice out into the world. But removing all 17 of her recommended items felt like a pretty quick path to feeling miserable.
May I illustrate by way of a few examples?
Eating out for breakfast. My wife LOVES eating out for breakfast. Yes, it’s a lot more expensive than a bowl of cereal at home, but it’s a real treat.
Going to the movies. Yes, a basic Netflix subscription and a packet of popcorn in the microwave is much, much less expensive. But getting off the couch, sitting in a cinema with other people, laughing and crying along with each other, is a whole different experience.
Flying. I live in Victoria, Australia, and a holiday in Perth, Western Australia without flying would be a nightmare. 7,000km in a car would sap every ounce of joy out of that trip. (By the way, Perth is a wonderful city. If you visit Australia, try to get across there if you possibly can).
I think I much prefer the thoughts from a couple of other folk. From Ramit Sehti:
“Spend extravagantly on the things you love, and cut costs mercilessly on the things you don’t.”
And from Nick Maggiulli:
“So go out and enjoy your raises, but remember, only half.”
Nick lays out an argument for saving 50% of any raises you get, and spending the other 50% to improve your quality of life (https://ofdollarsanddata.com/lifestyle-creep/)
HD is the home of relatively frugal folk that have saving in their DNA. But we all gotta live a little.
All true, Greg. Saving for the future is important, but having some fun along the way makes life worth living.
Nice article Greg. There are always plenty of ways to skin a cat without letting frugality drain the joy right out of life — and yesterday was a perfect example of that.
Early evening, I took my grandson to the driving range to smash a bucket of balls together. All the fun of golf, none of the three-hour commitment or the green fees. Bargain. Then later, Suzie and I headed out to catch Project Hail Mary at the cinema — armed with our own popcorn and drinks, smuggled in with the dignity of seasoned professionals. Why fund the concession stand’s bottom line when you don’t have to?
Great memories, great company, and my wallet was none the wiser.
Thanks Mark. A friend of my wife has seen Project Hail Mary 9 times! I was less enthusiastic about it. Your thoughts?
We both liked the movie. Don’t think I’d watch it nine times🙃
Nine times? Wow, that’s dedication! I found it entertaining enough, but as a voracious reader I almost always prefer the book — and having read this one a few years ago, I can say it’s much better. That said, I did enjoy the other adaptation from the same author: The Martian.
Echoing Sethi perhaps, another HD contributor recently said that they aim to save on things they need and spend on things they want. We’re not that specific about it but I like the concept.
I was just going to dig ES’s comment out. Thanks for doing the legwork, Michael!