How do you justify treats?

bodmil

I wondered if some fellow avid savers could help me in decided how to actually spend my hard saved cash! :T Unfortunately, as much as I love a nice free walk in the country, my real love is travelling and doing adventure sports, which isn't cheap. I think in the past year I have spent something like 8k on treating myself like this (I'm too scared to work out the actual value) :eek: and have made it more of a lifestyle than the odd holiday now. Obviously it can be cut down but I don't want to deprive myself. I don't have any debts and have maybe saved about 15k in the last year.
But how do other people draw the line of what's acceptable and reasonable and what's not? Whilst I do look for the best prices, if I decide I need a new bit of kit, it feels like I'm punishing myself if I don't get it!

amcluesent

>But how do other people draw the line of what's acceptable and reasonable<

Maslow's hierarchy of needs. Unless you've secured the basics, you can't consider building inner self-esteem/achievment with adventure sports

Aegis

bodmil wrote: »

I wondered if some fellow avid savers could help me in decided how to actually spend my hard saved cash! :T Unfortunately, as much as I love a nice free walk in the country, my real love is travelling and doing adventure sports, which isn't cheap. I think in the past year I have spent something like 8k on treating myself like this (I'm too scared to work out the actual value) :eek: and have made it more of a lifestyle than the odd holiday now. Obviously it can be cut down but I don't want to deprive myself. I don't have any debts and have maybe saved about 15k in the last year.
But how do other people draw the line of what's acceptable and reasonable and what's not? Whilst I do look for the best prices, if I decide I need a new bit of kit, it feels like I'm punishing myself if I don't get it!

If you're still on track for your medium and long term savings/retirement plans, you shouldn't have to justify treats in the short term. What's the point in saving so much that you don't enjoy yourself until retirement, after all?

lisyloo

My own personal vew is that I want

1) all my bills covered e.g. nothing on credit
2) a decent sum going into my pensions - this is currently 15%
3) Money (or insurance) for contingency e.g. death, sickness, redundancy

Provided all that's covered then I think you should be able to spend your spare money on whatever you like even if others think it's frivolous, whether that's in vehicles, holidays, jewelry, dresses shoes etc. doesn't matter, if it's spare then it's spare but I agree that all the basis incuding pension and contingency should be covered FIRST and you shoudl be able to pay for it up front not on credit.

So are you covered in the event of death, sickness, accident, redundancy and sorted for retirement?

Reaper

Bodmil, you sound very like me - adventure sports and travelling are my two favourite things. However reading between the lines I think we may differ on how we go about it. For example although hang gliding can mean a lot of expense to start with it should cost very little to keep it up, but it is very easy to go on spending money on it to get this year's latest gadget which is 1% better than last year's. I am guessing but could it be that much of the spending you are doing is unnecessary?

As for travelling I scrimp and save on the travel itself (eg long overnight bus trips) and accomodation (hostels) but my activity budget is unlimited. So when I get to a place that does bungee jumping, sky diving or whatever I feel no pangs of guilt whatsoever parting with my cash.

To summarise what I am trying to say:
1) Spend money on what is important to you and economise on the rest.
2) When you spend make sure it is on stuff that actually makes a real difference, not trivialities or this year's "in" gear.

dawyldthing

thing is, we all have our vices whether its travelling, shoes, drinking or anything else really. As long as you enjoy it and you can afford it then thats the main thing really

bodmil

Reaper, I think you've said what was on my mind. I think it's the pressure of people who don't know the sport to roll their eyes at another purchase. I'm saving for a deposit at the moment, so I have plenty of dosh saved, and that is my priority... just.

And I suppose at least what I buy can be sold on, unlike shoes, drinking etc!

Linton

bodmil wrote: »

I wondered if some fellow avid savers could help me in decided how to actually spend my hard saved cash! :T Unfortunately, as much as I love a nice free walk in the country, my real love is travelling and doing adventure sports, which isn't cheap. I think in the past year I have spent something like 8k on treating myself like this (I'm too scared to work out the actual value) :eek: and have made it more of a lifestyle than the odd holiday now. Obviously it can be cut down but I don't want to deprive myself. I don't have any debts and have maybe saved about 15k in the last year.
But how do other people draw the line of what's acceptable and reasonable and what's not? Whilst I do look for the best prices, if I decide I need a new bit of kit, it feels like I'm punishing myself if I don't get it!

Suggest you make yourself an annual budget including income, essential expenditure, savings/pension, emergencies etc and keep to it. Provided you have budgetted sensibly and conservatively and your savings/pension are higher than your long term plan requires, anything spare can go into pleasures without any risk to your financial well-being and without any feelings of guilt on your part.