Anyone Feel Gulity About Spending Money?

[MILGAUSS88]

Originally Posted by Watch-Geek

Not crazy at all!! I drive a 15 year old Mazda 6, bought new with cash.

MOST of my watches are worth more (also bought with cash)
My winter jacket (yes I have only one) is now 10 years old!

I HATE spending money on things that depreciate!!

A man after my own heart.

[omar10213245]

Absolutely not

[wantonebad]

Originally Posted by Dr. Robert

I spent most of my money on women, wine, weed & song….the rest I just squandered.


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There's a bastardized W.C. Field's quote in there somewhere...

[Rock]

Wife and I have been frugal all our lives but have managed to acquire all of the things that we need and most of the things that we want.
We feel guilty about self-indulgence and try not to buy stuff that we don't need and which provides little real satisfaction.
We have never felt any compulsion to spend everything while we are alive and take great pride in knowing that our children - who we have managed to imbue with similar values - will be financially secure after our death.
Quality of life isn't about how many watches you own, the brand on your wife's handbag, or the sports car you drive. A bit of "Retail Therapy" occasionally is fine as long as it isn't compensating for some personality deficit.

[strettyend]

I’ve always looked at money as a tool to do the things I really want / buy the things I love. Yes of course before I do those things I make sure to have ample future savings for my family but I have no innate love of the idea of money compounding for the sake of it, which is funny because I work in finance.

Sometimes I will purchase something (mostly cars) that make me so happy I will think “wow, all they want in return for this feeling is money?”

No one would accuse me of being frugal…

[Moondoggy]

One must spend for others to spend.

[enjoythemusic]

Originally Posted by Moondoggy

One must spend for others to spend.

Ahhh yes, the Velocity Of Currency... that's an interesting topic.

[INC]

I think these things have been discussed several times :) However, the way the question was raised was different, so I have a simple question that may lead the conversation in a different direction:

Is it possible, that you conflate the meaning of SPENDING money with WASTING it?

Because if so, then the concept of waste should be defined, since spending always makes sense and is always relative. What you wrote, for example, "the old car", "spending in cash only", all make sense and can be justified in certain cases.

Consequently, the question can be, does this question stem from the fear of waste, or simply from the fact that someone does not like to spend money on something they do not need, or need it but not for so much money - if for no other reason than because they feel it is a wasting of money?

[zengineer]

I feel obligated to stimulate the economy and keep auto assembly plant workers employed so they can feed their families.

[Beo3]

I grew up in a lower blue class immigrant family and struggled most of my early life. I joined the Air Force directly out of High School and spent a few years in.

In my twenties I was employed in civil service and did marginally okay. In my thirties we had three children, one of which was very ill and had catastrophic medical bills, the kind that were more monthly than I was making. Thankfully my son is healthy, and my other two are also fine, and all are out of college.

In my forties I was able to collect a pension and begin a second career, which proved to be lucrative.

Now in my mid 50's (56 tomorrow actually) and financially sound, I feel no remorse spending money on myself, or my family.

The wife and I want for not, travel extensively, and purchase whatever, whenever we want to.

As for feeling guilty spending money? Nope, I've worked very hard and sacrificed plenty in my life to get to this point. I'm going to enjoy life while I can.

I hope to outlive my finances by one day, and will leave my children plenty of good memories. (and maybe a few sheckels too)

[Beo3]

After building and selling his first company, "I realized that money is nothing more than fuel," he said. "It is a resource that lets you have choices, but if you don't think about what you are working for, you will die rich but not live rich."



This is a quote which I have hanging above my desk.

It put things into perspective for me.

[sambb]

I look back at stupid things ive purchased and regretted them, as i look at the S and P and it couldve been way better.

I think I'd like to USE the items i own or buy. I'd like to not waste as much money on things i dont need or want. (similarly, dont waste time on people that i dont want to interact with_)

Its complicated.

[SMD]

All the time. After every watch purchase, spending on Formula 1 events, the cars I buy. Purely in my head. I grew up with very little, poor kid amongst my friends and I have a hard time getting my head around buying a 6 figure watch or sports car. None of it will impact my life one way or the other but I always feel guilty.

[Fleetlord]

No

[Rbdport]

Hubby and I retired almost 4 years ago. We live on pensions. We have retirement savings in the 7 figures and “short term savings “ in the multiple 6 figures. He grew up dirt poor, I grew up lower middle class. We spent all our working years scrimping and saving.
We live LARGE now…because we can and because we worked all our lives for this. You can’t take it with you…

[T4ME]

Originally Posted by KatGirl

If I want it, and can afford it, I buy it. If I want it and can’t afford it, I get my husband to buy it for me.

Kat


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This is funny

Knew a guy that all he focused on was retirement. Year before retirement caught cancer and passed within eight months. Life is short.

[enjoythemusic]

George Carlin once said, "We buy sh*t we don't need, with money we don't have, to impress people we don't like."

[vipereaper30]

I recently blew $7k on a pen. Now that's just dumb. So compare yourself to others like me and maybe you'll feel better about spending a little on yourself?

[KathleenL]

Hubs and I are retired, no kids, no mortgage, no car payments. We have a very healthy income from our pensions and social security, and we buy what we want, when we want it.

[ejvette]

Originally Posted by Rbdport

Hubby and I retired almost 4 years ago. We live on pensions. We have retirement savings in the 7 figures and “short term savings “ in the multiple 6 figures. He grew up dirt poor, I grew up lower middle class. We spent all our working years scrimping and saving.
We live LARGE now…because we can and because we worked all our lives for this. You can’t take it with you…

Well said my wife and I are very similar circumstances ....started with -0- we are both finally retired we live our lives and enjoy our money we don't live to leave our only child financially secure ....at the end of the day she gets whatever is left

[SMDRFE]

Had cancer 13 years ago now when I was in my early-30's and with two young kids at home. Very traumatic experience. Nearly died from one of my surgeries, and had genuine fears of death many times in the years after from recurrence scares. Had PTSD for a long time and all sorts of mental health issues. Was suicidal on a few occasions. Praise the Lord that I'm still here, and for guiding me back to Him. It all really put life into perspective.

My wife and I were and still are pretty frugal in the grand scheme of things, but we traded in our Toyotas and went out and bought "his and her" BMW's after that, one of which we still have 12 years later but will trade soon. Loved both of those cars. The whole experience kinda set the tone that it's "okay" to spend some money once in awhile, but the fact that we still have (and maintain) a 12 year old BMW should tell you a lot also, that we don't need to keep up with the Jonses, or have the latest and greatest. I actually bought back my old Toyota from my folks who don't need two cars any more, and am daily driving that while wearing the Rolexes and keeping my truck parked. LOL

Only started getting into watches a few years ago. There's little guilt with Rolex because unlike a 500+hp car, you can actually enjoy it every day, and they'll hold their value pretty well or even appreciate, especially when you can get one from an AD at list.

Cars could have been a big money pit for me, but where we live they're just impossible to really enjoy. Too many people, idiot drivers galore, speed bumps, speed cameras, red light cameras, and police everywhere. I'd feel guilty getting a high-spec upper-5 or 6-digit car and then having to granny it around everywhere while it's depreciating like crazy. Just not me, but I'll rock the SkyD in a beat 15 year-old Toyota.

[Stan Cooper]

I'm pretty frugal, so my spending habits for luxury items like expensive watches are constrained and never impulsive. I don't feel any need to acquire a lot of "things."

So, no; I don't feel guilty about spending. I own my home without a mortgage and my car is paid for, and I pay my credit card bills in full every month. I have no debt, and am happy with my 16710 Pepsi with ceramic insert as my daily and a few other lesser watches for variety. Unless something catastrophic happens, my savings should outlast me.

[INC]

Originally Posted by Beo3

After building and selling his first company, "I realized that money is nothing more than fuel," he said. "It is a resource that lets you have choices, but if you don't think about what you are working for, you will die rich but not live rich."

Great quote! Let me add this:

First, you have to learn how to make money.
Then how to use it.
While in the same time you can live your life with the sincere joy of a child.
Who have infinite fuel to enjoy themselves.
And that's exactly what a grown up person trades for the ability to get some pleasure from making a limited amount of money.

[Smart Mart]

Well I started out in this life with absolutely nothing financially, and I’ve still got most of that left


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[East Bay Rider]

It could just be that you're satisfied and the money you have is in excess of the money you need or really want. That's OK because you can spend what you want and let the rest accrue. If your 15 year old truck were to die tomorrow you could replace it with something new and fancy that others might envy but you could just as well replace it with something less fancy or used and be just as happy with it.
That's freedom.
If you really want to experiment with spending guilt free, try spending it on your children and see how that makes you feel. Buy them a car or remodel their bathroom or something else large that will last. It might blow their mind and it's hard to feel guilty about the money if you've gifted it in such a way.
Good luck OP. Enjoy the freedom of having more than you need and the wisdom it took to get there.

[roks]

Since I was a kid, I would rather have "things" than experiences. Experiences fade and are only captured in photos and videos and in your memory that is fading fast. I hate vacations as I only return more tired from them then when I left, so I stopped going on vacations decades ago.

When I spent $13K on a DS Cameron Edition, every morning I wake up, I see it and it is right next to me. I can hold, feel and admire my $13K, which by the way are appreciating slowly. 10years from now we'll call $13K a steal for the DSSD.

I do not feel guilty spending money on ROLEX ..

[7sins]

Originally Posted by vipereaper30

I recently blew $7k on a pen. Now that's just dumb. So compare yourself to others like me and maybe you'll feel better about spending a little on yourself?

A nice Montegrappa I presume? Going to need a pic of that bad boy, man I thought I spent a pretty penny on my MB Edgar Allan Poe edition pen but that is another level. Would love more fountain pens and take calligraphy classes.

[1William]

Originally Posted by roks

Since I was a kid, I would rather have "things" than experiences. Experiences fade and are only captured in photos and videos and in your memory that is fading fast. I hate vacations as I only return more tired from them then when I left, so I stopped going on vacations decades ago.

When I spent $13K on a DS Cameron Edition, every morning I wake up, I see it and it is right next to me. I can hold, feel and admire my $13K, which by the way are appreciating slowly. 10years from now we'll call $13K a steal for the DSSD.

I do not feel guilty spending money on ROLEX ..

Interesting perspective and one I share to a certain extent.

[Patekfinder]

I definitely feel guilty… Over about 20 years of collecting protect Philippe I spent nearly $1 million cumulative over those years. I never actually owned $1 million worth of watches by Patak Philippe and only one time, but my overall spend in terms of buying and selling over the years and maintaining a nice collection of about five or six and a given time, I really regret this. I much rather would’ve just put the money into the stock market and let her to cruise slowly overtime but I didn’t do that, oh well. That said I’ve sold off my entire Patek collection and now I’m focused on more modest pieces from Rolex at far more reasonable prices but I don’t feel guilty


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[m j b]

Great thread and excellent responses as usual!

I used to have a cartoon clip from the WSJ. I wish I still had it or could find it...

Two angels are up in heaven, in the clouds, with the halos and robes. The first one has a briefcase with him, full of cash. The other one says, "OK, you did take it with you. Now what are you going to do with it?".