The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: Tester on February 26, 2021, 02:00:16 PM
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We are working on saving and investing for 6 years.
While we still spend a lot, we managed to get from zero to 500k net worth in these 6 years.
Recently I started to feel a "need" to spend money, looking to buy a second car...
I think it won't happen, but still looking for when we will need to replace our current car.
The good part was that I found a "good" way to satisfy this spending desire - after one week of looking at cars, computers, whatnot, I bought 500 usd worth of VTI outside my normal investment amount. It felt really good and my desire to spend was satisfied. Looking forward to doing this type of spending more often :-).
Another one, due to kids learning from home and chewing on headphone cables we have several new broken headphones.
So I spent 20 dollars on an soldering iron and some 7 dollars on replacement cables and repaired two of the headphones.
Please share your tricks as I am sure sometimes buying stock won't work.
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Plenty of people eat to avoid their feelings and end up obese as a result. You're doing the same, only its spending money rather than eating. So, what are you trying to avoid by spending money?
Spending money on therapy to deal with this might be a good idea. And if your kids are destroying headphones by chewing on them, then your children need to be taught not to chew on them AND do chores to make up for the cost of repair or replacement.
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Yep I'll go to Costco and buy more bulk items or pad the taxable accts!
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I move money into our investment account as soon as we get paid. When I look at our chequing account it looks like we don’t have much money left to spend on things outside our budgeted items. That being said, we do budget some fun money every month to be spent however we like.
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Plenty of people eat to avoid their feelings and end up obese as a result. You're doing the same, only its spending money rather than eating. So, what are you trying to avoid by spending money?
Spending money on therapy to deal with this might be a good idea. And if your kids are destroying headphones by chewing on them, then your children need to be taught not to chew on them AND do chores to make up for the cost of repair or replacement.
I think most of the desire came from boredom as it is quite a long time wfh.
We started to let the walks/hikes/boardgames/other interesting activities slip.
Since then we fixed that and now we are doing more things together and I see the desire to spend money disappeared.
I still look for opportunities to invest more, as that means we are reducing expenses plus paying our future selves.
The kid with the chewing spent some days with baby headphones for school ( as I told him I won't buy new ones), helped with repairs (to learn that you don't just buy new things, you can repair them too), and did some work for the money spent on the soldering iron and parts :-).
Will see if the boredom comes back.