I’m all for being frugal but there are many things I consider money well spent. We all value different things so if you want to blow your money on a gadget then go for it!
As long as we’re saving, not going into debt, and spending less than we make; it’s perfectly fine to enjoy a few things. Some of us prefer to pay down our mortgages instead of spending on material goods and that’s alright too.
What I call money well spent
Travel – Travelling is a life experience. It doesn’t matter if you’re driving to a city an hour away from home, or if you’re flying across the Atlantic; no matter where you travel to, you’ll discover new things. Considering this is a personal finance and budget travel blog, it should be no surprise I consider travel to be money well spent.
Eating out – I love my food so I have no problem eating out. As long as you don’t go over budget, you should never feel guilty about enjoying a nice meal. Sure you could eat every meal at home and save the money, but that’s not very exciting.
Costco membership – If you’re a family then getting a Costco membership can offer incredible savings. Sure you need to buy in bulk, but the price per item ends up being cheaper here than anywhere else. Costco doesn’t just offer deals on food, they carry tons of housewares in store and have thousands of items that you can buy online. The raw meats they sell are of the highest quality, heck there’s just 2 people in my family right now and I have a membership.
KitchenAid Mixer – Yes another expensive kitchen gadget but these things are money well spent. If you love to bake then this is a must have tool, it just makes mixing that much easier. If you so desire, you can get different attachments for the KitchenAid Mixer making it more than just a baking tool. These mixers go on sale all the time so wait for a good price before you buy.
Vitamix – Juicers are bulky, messy, and let’s be realistic you’ve probably only used it a few times since you bought it. Buying a Vitamix was one of the best investments I ever made, it will literally make anything into liquid in seconds. Many refer to it as an overpriced blender, but I find the Vitamix to be quite useful since I can make restaurant quality soups and sauces in just a few minutes.
A good haircut – For many many years I went to a cheap barber which cost me less than $10 a cut, and I got exactly what I paid for. My haircuts were all over the place, sometimes they were great, and sometimes they were awful– even though they were always done by the same person. I finally decided to go to a stylist and it was a life changing event. Stylists know what kind of hairstyle suits the shape of your head, making you look smarter and sharper– $40 a month, money well spent.
A nice suit – The truth is, appearances matter and owning at least one good suit is a must for all male professionals. Even if you work in an industry where business attire isn’t necessary, you should still have one for special occasions. It doesn’t even have to be an expensive suit. What you really want is a suit that compliments your body shape. It’s rare to find a suit that’ll fit you perfectly off the rack so be sure to visit a seamstress to have it taken in.
Winter clothes – Spending the money on a good pair of boots and a parka will do wonders for your comfort. Don’t cheap out, low quality products will be uncomfortable and fall apart quickly. You don’t need to spend $600+ on a parka, just pick one up at the end of the season when they go on sale.