Ask HN: What should I spend my money on after a decade of frugality?
For the first decade or so of my working life I scrimped and saved. Over the the last few years, my salary has increased around five-fold. (Whilst I certainly don't have millions in the bank, I am apparently now in the top 98th percentile in my country by taxable income).
Recently I bought a robot vacuum in a sale, something I would previously have dismissed as an expensive toy. I was pleasantly surprised how much value I got from it. Really I should have got one sooner.
It makes me wonder what else might I be missing out on due to hang-ups about spending that are no longer appropriate to my situation?
I've thought a reasonable amount about pensions, savings, giving, property, etc, so I'm not really talking about that sort of thing. I'm more interested in (relatively) small purchases I might have overlooked due to a decade of frugality.
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Always think of the second order effect of a purchase. Bought a new guitar? Now you have to take guitar lessons and entertain joining a band or going solo if you happen to be very gifted with it. Same with anything. New self-help book? Now you have to get shit done on purpose, otherwise it's just a bunch of paper with no meaning.
But as I implied in my question, I think if anything I might need to correct in the opposite direction. My primary laptop is twelve years old, and I'm starting to think about replacing it. I don't want to become a wasteful consumerist, but I also no longer want to spend my limited time doing things like vacuuming when a robot can do it more frequently than I ever will with less effort, freeing up time for more fulfilling pursuits.
I would say not to focus on stuff but experiences is probably your better bet. I remember the first time I went to a luxury stake restaurant. We dressed up and got what we wanted not what was cheap. It was just fun. I don't do it often but it's worth it to me. Simply because it's not something I do on a regular basis.
I know I can buy all the stuff I need to make the perfect stake at a fraction of the cost of going out once. But is it the same? It's not to me.
For you, think of something you have not done but might find enjoyable. Don't go cheap but do what you like.
Now here’s someone who isn’t familiar with the Lee Valley catalog.
I assure you, you can spend many hundreds on the stuff to make the perfect stake. Their exquisite, custom hand planes and sleds are works of functional art, worthy of use with the finest exotic wood, itself with costs that approach the surreal. Which is, of course, why going out and buying a great stake can cost so much, too.
When it comes to items, focus on things you use everyday. I bought a Brompton folding bicycle. It was a big purchase for me at the time but I use it every single day and get a lot of pleasure and enjoyment out of it. If you cook a lot, get a great chef's knife and so on.
Other hobby items are nice but even if you really love hiking you probably only manage to go once a week. But you wear shoes everyday, so spend money on the regular everyday shoes, not the hiking boots.
1. Bidets in every toilet, never going back to toilet paper, 2. Automatic blinds in bedroom with sheers and blackouts that incrementally rise on a timer, 3. Sensor light switches that auto detect and auto turn off, 4. Automatic vacuum and mop, 5. Home automation controllable light switches and remotes, optimizing light switch placement in room, 6. Great furniture that looks good and is comfortable (there’s a huge leap going from IKEA > Crate & Barrel > Design within reach, 7. Good power tools and job specific tools.
These are all things that incrementally improve my life every day.
You have only a set number of hours left.
But you can buy some of those hours back with certain purchases.
What exactly those are takes knowledge of how you spend your day - it may be worth writing down what you spend time on.
1. Buy extra copies of things where it provides convenience i.e. extra power cords for computers/phones that you leave where you need them. 2. If you travel somewhere often (i.e. family for the holidays or a significant other's house), consider buying an extra copy of things and leaving it there instead of packing/unpacking. 3. Buy personal items in bulk so you don't have to go to the store as often when things run out and you can save money this way over time, too. 4. Throw out clothing that you only wear when you have no more clean clothes and replace it with clothing you do like. Consolidate socks to one or two types to simplify matching. 5. Outsource laundry, cleaning, lawncare if you spend time doing that. 6. Spend extra on more convenient flights.
* Sheets / mattress * Towels * Underwear / socks
The quality is better as the price goes up (then at a certain point you're paying for brand). These are things that you use on your body every day. Buying well made things here are little reminders that you've made it and are taking care of yourself.
Spend good money on anthing that separates you from the ground: beds, tires, shoes, etc.
Spend money on things that encourage good habits. Buy new kitchen appliances for eating in (or do a full reno); workout equipment, gym membership, or sports fees.
Spend money on your outdoor spaces. Whether that be money on a backyard with pool, or hiking/camping gear; make it easy to want to be outside.
Those are my recommendations, other than self improvement of course.
Divide by usage and you get a pretty guideline on if something is worth it
The things I bought early into adulthood are now falling apart and need to be replaced. I chose to splurge on the replacements, because I know what I want and how much I need it.
Otherwise, my policy is to "spend it on the plot". By that, I mean that you should spend money on things that bring change in your life. This can be travel, hobbies, new experiences, etc. Sometimes it means paying extra to preserve the energy for what matters (e.g. the occasional cab ride).
That being said, remember that your decisions have an environmental impact. Being wealthy does not excuse you from caring about your planet. Don't consume just because you can, unless you buy second hand.
You can also use the money to reduce your workload. Hire help or simply work less. You can afford to pick who you work for and for how long.
I asked the question because I habitually agonise over purchases, particularly "things". The robovac made me realise I might be missing out for no good reason on things that could improve my life. This post is an attempt to balance my default deny approach to spending.
On the other hand, I was talked into buying an OLED TV recently, which in retrospect probably wasn't worth it. It's better than my old 1080p TV, but after a couple of days I got used to it and stopped noticing.
You're happy, right? And you act in a healthy, sustainable way? The only thing you need is something to need. Not bad! Then let the money pile on. Financial security is also good to have. You can use it for a well-placed "fuck it" once in a while. Mine was a long motorcycle trip a few years ago.
I don't need much more stuff. But some suggestions in other replies did resonate. Mainly around a good bed and work chair, and ways to get time back from chores.
I will also think about things to help me keep fit. I tend to find intentional exercise pretty mind-numbing after a short while. But I do enjoy the outdoors so perhaps ways to enable and encourage me to be active out and about.
Lots of food for thought.
If you are able to not want anything for a decade, no need to change it now.
My partner buys non-essentials significantly more than me each month. Sometimes I get in competitive mode and want to spend as much as her. I force myself to buy stuff and almost always regret it.
Things that I actually think are worth it are Bose QC35 headphones, iPhone, gym membership, massage, nice mattress, video games, portable speakers, nice running shoes.