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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.
Our philosophy: save on what you need so you can spend on what you want.
My wife and I are polar opposites on spending. She always says “ you can’t take it with you,” to which I reply “you won’t have to worry about it.”
But we have learned to appreciate others positions. We’ve certainly known people who squirreled away and denied themselves for decades assuming they’ll really enjoy life when they retire, only to drop dead shortly after retiring.
This. Too many friends who have died prematurely even before retirement! I’m not saying Spend like a drunken sailor but take advantage of enjoying your hard earned money when you can and don’t put off “til tomorrow “ too many things if you can plan to do them sooner.
I agree wholeheartedly. But actually putting this into action can still be difficult. Old habits die hard!
How coincidental! Yesterday I took the grandkids (14 & 8) to the Super Mario Galaxy movie. I checked with my son beforehand and the kids were super excited to go. The movie was OK for me, but I could tell that all kids in the audience (all accompanied by adults) were enjoying the experience. I prepaid for admissions, drinks & popcorn for the kids. Afterwards we walked around outdoor art installations at a local museum, then went to a restaurant for breakfast-for-dinner. Worth every penny.
We have always loved going to the movies and still do, even with a large TV and all the streaming services. We typically go to matinees and happily accept the senior discount, so it’s not quite as pricey as it might be otherwise. I will confess that I love going to fancier theaters with power recliners and food service to your seat as a special treat, and those cost more. But we don’t have one in our town, so it’s an indulgence for when we’re on holiday elsewhere.
If a movie doesn’t hook me early, I view those plush recliner seats as basically an invitation to catch a few Z’s. I’ve accepted this character flaw within myself, and I’m at peace with it. 😉
I adore movies, but I haven’t been inside a movie theater in probably 15 years. I have all the movie access I want on my big screen at home, where I can watch anytime I want without driving, parking and paying. I can freeze the movie when I need to use the bathroom (that’s a big one for me), and if I doze off I can push a button and replay the part I missed. Plus the popcorn is fresher and the seat is WAY more comfortable. No contest.
😂Same. I’ve dozed through at least parts of many a movie, home and in the theater. The Mr drags me to a lot of superhero movies, and I feel like if you’ve seen one, you’ve seen them all. 💤
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.
I agree with both Greg’s post and your comment, Mark, except with regard to sneaking or “smuggling “ snacks into a movie theater, which, in my view, is a real cheapskate thing to do. I often go to a theater that gives a complimentary small bag of popcorn, but in other theaters, I simply skip the popcorn.
What can I say Gary? I’ve got cheapskate coded into my cinema DNA lol
Then enjoy your smuggled popcorn.
I think the thrill of the “crime” is more the point than the popcorn itself!
The funny thing is: we had to smuggle it back out, neither one of us wanted any. My grandson and daughter scoffed the evidence yesterday.😂
One consideration is if you’re counting calories. A bag or bucket of butter-soaked popcorn or a jumbo-sized box of candy or soda could really screw up your plan for the day. I worked in a movie theater when I was a college kid, and I love popcorn, but I make delicious stove-topped popcorn at home, and a serving is 140 calories. I can skip the candy and the soda, but bringing my own snack is more of a health choice than a cheapskate one.
When I go to the movies or to a sporting event I refuse to buy anything at the concessions with their grossly inflated prices. I’m a value purchaser and their wares are not a good value, just the opposite.
LOL, Gary. Chrissy would never allow me to sneak popcorn into a theater, instead, forcing me to buy a five gallon bucket of the stuff. Unhealthy butter soaked popcorn is apparently an important food group that I was unaware of🍿
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!