Recently, I hit a major milestone in my journey to overcome what I like to call “frugality disease.” I spent $160 for an hour of private lessons for my two kids. In the past, I would’ve never paid such an amount. I’ve always been the type to teach them things myself, like swimming and bicycling.
But after seeing how much my kids enjoyed their parkour group lessons, I decided this was one of the best ways to decumulate wealth. Nothing makes me happier than seeing my kids happy—nothing. Plus, group lessons are hard to come by on weekends and I don't have the equipment.
After the private lesson, I didn’t feel too much of the usual agony of “losing” $160. I know they won’t become college athletes with scholarships, let alone go pro, but the joy they experienced was worth it. Still, I couldn’t help but think about how much fresh crab and lobster $160 could buy—at least three pounds worth!
Despite this small victory in spending more money, I realized I still couldn’t bring myself to spend on myself. And that’s where the struggle continues. Maybe you struggle with the same problem too.
The Inability to Spend Money on Myself
I’ve long believed that pain and discipline are necessary to achieve your goals. Being handed things on a silver platter often stifles growth. The lack of appreciation comes from not earning what you have.
Adopting a “broke mindset” can help you get rich, and feeling hunger—both literally and figuratively—keeps you driven. Whether it's maintaining your weight by remembering the less fortunate or grinding away at a side hustle to escape a bad job, sacrifices are necessary for progress.
So when it comes to spending money on myself, it feels like betraying the sacrifices I’ve made to achieve financial independence since 1999. I’ve been saving and investing for so long that buying things I don’t need feels completely off.
Let me give you an example.
A New Jacket with Zipper Pockets
I wear the same type of clothes every day—track pants, sneakers, a t-shirt, and an exercise jacket with zip pockets. It’s basically athleisure wear. Since I don’t go to an office or meet clients anymore, comfort is king.
However, now that I attend my kids’ school functions and birthday parties almost weekly, I’ve started to notice something: the stains on my clothes are piling up, even after washing. I don’t want to look too schlubby in front of my peers, at least for the sake of not embarrassing my kids who don’t care one bit.
Earlier this year, instead of buying a new jacket for $110, I took my four-year-old one to the tailor to fix the zipper for $25. Saving $90 felt great! But five months later, the jacket is frayed, and I wanted to buy a new one.
Hoping for a sale, I went on the Nike website and found something similar. But when I saw there was no discount, I didn’t pull the trigger.
Tennis Shoes with Holes
While I was on the site, I also noticed my tennis/pickleball shoes had developed not one, but two holes in the front soles! These shoes were only three months old and had been gifted to me by a pickleball buddy who ordered the wrong size.
I typically spend $140–$160 on tennis shoes that last around six months. So while shopping for the jacket, I started browsing for new shoes too. But when I was about to check out, I froze.
Even though I had recently spent $160 on private lessons for my kids, I couldn’t bring myself to spend $110 on a jacket or $160 on new shoes for me. What’s going on?
The Solution to Spending More on Yourself
Two weeks after not buying the jacket, I decided enough was enough. My frugality disease had resurfaced to the detriment of my health and happiness. The stock market had recovered from its latest correction and the Fed was about to embark on its multi-year interest rate cut cycle.
But instead of buying it myself, I asked my wife to buy it for me! This way, I could sidestep the guilt of buying something I didn’t really need. Sure, I wanted to look more presentable at school events, but I didn’t need a new jacket.
That’s the solution: if you struggle to spend money on yourself, ask your significant other or close friend to do it for you. Having a gatekeeper adds a layer of accountability, and you avoid the personal pain of spending.
You've already tricked yourself into viewing investments as expenses to get yourself investing more. Now, remove yourself from the spending process altogether!
That said, I still haven’t been able to buy new tennis shoes. Why? Because I have a pair of vintage Agassi tennis shoes sitting in my closet. They’re new, but I see them as collectibles and can’t bring myself to wear them. They bring back happy memories from middle school.
Things to Tell Yourself to Spend More
For those who’ve been frugal for decades, changing spending habits can feel impossible. The opportunity cost of not investing that money can loom large. Or you might simply convince yourself you don’t need it, which is easy to do once you have your basic needs met.
But if you have the money and are already providing for your loved ones, you should be able to splurge on yourself occasionally. Here are a few things to tell yourself help you feel better about spending:
- I successfully provide for my family – If you prioritize your family, you should feel free to enjoy what’s left on yourself. Providing for your family is like paying yourself first. The rest should be guilt-free.
- I work hard for my money – If you’re putting in long hours, you deserve to treat yourself. What’s the point of working hard if you never enjoy the fruits of your labor?
- I’ve worked a long time for my money – In your 20s and 30s, frugality is wise to help you build passive income. But if you’ve worked for 20 years, continuing to deprive yourself is unhealthy.
- I will die with too much money if I don’t spend more – If you die with too much money left, it means you didn’t fully enjoy the wealth you built. You’ll have wasted your healthiest years for little reward.
- I am only buying things that I truly value – If you're spending money on things that genuinely improve your quality of life, then that spending is well worth it. Stop thinking that any money you spend goes to zero—it doesn’t. Instead, you’ll gain a greater return in the form of enhanced well-being and happiness.
- I give money to help others – If you're donating money regularly, you're a thoughtful person. And thoughtful people deserve to be rewarded once in a while.
- I diligently track my finances – If you know where your money is going every day, you’ll realize that any spending you do is within your means. There’s no need to feel guilty about spending on something that won’t negatively impact your financial situation.
- I save and invest religiously – If you’re saving well above the median savings rate of ~5% and investing the majority of your money, you’re already doing better than the average person. It’s okay to live a little and enjoy the fruits of your discipline!
Still Not Spending Money on New Shoes
Even after telling myself it’s okay to spend, I still haven’t bought new tennis shoes. Instead, I’m making do with what I have. Retirement and simplicity go hand in hand, and having fewer things brings me more peace.
For now, I’m content with enjoying my new stain-free athletic jacket, which cost me $110. If my new investment in Nike stock grows 10 times the cost of a new pair of shoes—$1,600—then maybe I’ll use the profits to finally buy them. This is my 10X Consumption Rule: I only spend on unnecessary items if the corresponding investment grows 10 times its cost.
But there’s another challenge that might be the root cause of my reluctance to spend on myself. After buying a new home in 2023 that we didn't need, I already feel enough financial guilt not to get something else I don't need. It took a lot to convince my wife to move. Further, it's still too soon to tell whether moving was the right decision.
As a result, I’m cautious with my spending. While I know spending $160 on new shoes won’t break the bank, it’s just not necessary. My focus is on regaining financial independence by December 31, 2029, and nothing will derail me from that goal.
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Readers, do you have a hard time spending money on yourself but no problem spending on your kids or loved ones? Why do you think that is? What strategies have you used to loosen up your spending on yourself?
I have my kids to steadily drain my wealth for years to come. Private High School tuition costs $40K/year. Private colleges will likely cost $100K/year. Everything times two. Then add activities, lessons, summer programs, college prep, medical bills, etc. Perhaps I will support them in grad school, too.
Even though my net worth continues to increase, it is difficult to indulge in too many things on myself while I’m throwing down so much cash. I just passed on upgrading my $70K sports car to a $140K sport car (waitlisted for 1 year). I tried to convince myself the upgrade was a good deal because I could sell it for than I would pay, but I couldn’t justify it because it was pure indulgence.
At the same time, my friend who is childless, just rented a $60,000/ year waterfront studio bungalow vacation home with access to club amenities. He plans to visit once a month and maybe entertainment some friends and clients. He recently bought a $100K BMW and EV, and he doesn’t care to drive. He prefers Uber. Clearly he’s run out of things to spend his money on.
But how can him sipping margaritas on the club Duffy boat compare to my joy of being a personal assistant to two adolescents? In all seriousness, no regrets. My friend tried to have kids but couldn’t, so he and his wife are relegated to this life of despair… on a Duffy boat cruising the harbor…in front of their private club/studio…when they is not traveling the world.
What’s the $140,000 vehicle? If I didn’t have children, I would totally spend a lot more money on myself and my wife and my parents.
I think it does feel good to spend so much on education and now that I think about it, and I am in the thick of things. What is better than providing our children knowledge for a better future?
Oof, that hits close to home. And then add indecisiveness to the mix. I also struggle prioritizing my wants. Do I sign up for tennis classes (a new sport for me) or buy a winter running jacket (I’ve been running for years)? Then I go through my list of wants, and realizing my imaginary shopping spree is getting expensive and forgo all of it. No tennis classes, no jacket…
To get over my frugality I calculated the amount of money I need to spend on a monthly basis given an 8 figure net worth assuming conservative interest payments and no additions to the principal. The numbers actually surprised me! For example with $10,000,000 principal assuming 5% annual interest (no additional deposits) you could spend $50,000 PER MONTH, EVERY MONTH for the next 10 years straight and still have $8.7M leftover!
That’s a lot of money to spend. Have you been successful in doing so?
Unfortunately, we are not even remotely close.
We can’t even spend half of that let alone spend that much every month.. and do so consistently. We continue to invest and be frugal, and to make matters worse, we still have our w2 jobs, which means we really don’t have any excuses. Work is optional and we’re both in our mid 40s — wouldn’t know what to do with our time even if decided to retire early. We maintain work for the pure enjoyment which is nice considering we both actually like our jobs (and more importantly, the people/teams we work with).
Hi Sam, After 35 years at power company I can tell you 95% of all accidents are inattention to footing. Our employees were required and funded to buy new dielectric work boot every year. Please buy the shoes.
I write from Hawaii in oofos. We booked the goal of 6 months in Hawaii each year.
Keep Smiling
I had to spend money to buy larger waisted pants.
So splurging on eating out is now making me spend money on larger clothing. It’s wasteful. (Waistful?)
I guess it’s time to spend less to eat less.
DSW is where it’s at. Bought a nice pair of Nike’s there for $55 earlier this month.
As others have mentioned, I wouldn’t scrimp on footwear either. Old shoes loose support and deteriorate quickly which may lead to injury, plantar fasciitis, etc.
When you look good, you feel good! Haha.
I create a clothing amount that has to be spent and I regularly get rid of old clothes /worn out items.
It’s not going to change the overall picture, so go ahead and treat yourself to some new attire.
I look back at the several years where I committed to no spending on clothes and realize I should have dressed myself up more. Might as well look good while you’re young.
I just hate the process of buying clothes and shoes, so I tend to wear clothes that have problems like holes because I hate buying new ones so much. But if there were holes in the bottom of my shoes I would get some new ones. I think that’s necessary.
I hear you. The black jacket I bought for $110 from Nike is actually the wrong one :( It looks the same but doesn’t have the interior liner, so my arms are cold. Ugh.
I can’t spend money either, so every month, I ACH to a seperate account which then my wife or kids pays for everything.
When we go on vacations, eat out, etc., I never look at the bill as it would cause me a lot of stress.
I have a liquid net worth of 8 digits, but still find it hard not to use a coupon. Decumulation is the hardest thing I have ever done, especially, since net worth keeps snowballing.
I hear you. How old are you? A LIQUID net worth of $10+ million is a lot! Does that mean your total net worth is in the multiple 8 figures?
What do you think you attribute your frugality to? I’m trying to solve this problem. Because when stocks do eventually crash, then I feel bad I didn’t spend more of it when times were good.
You may enjoy: A $20 Million Net Worth Should Be Enough To Feel Happy And Free
I am 67. Own 2 businesses. Net worth ~40MM with ~28MM liquid. I generate about 1.7MM additional per year taxable. My wife is kind of the same as me frugal wise, but we put almost all of our spending on an airline card to keep her status, then buy basic economy flights and get upgraded to Main Cabin Extra (American). We also use the AMEX points from my business card to travel. Have 2 kids, give each one $2,500 per month deposited directly into their Schwab accounts which we don’t really notice. Then usually another 15k at Christmas as consultants to the business.
My father died having changed his will 15 day prior leaving an heirloom property to a couple of charities, which had to be sold. He died of Alzheimer’s. Spent around 150k in legal fees to basically get to status quo, hurting the rest of the family (I didn’t need it), but have a huge distaste for charities at this point.
I have always been a supersaver, got my MBA 40 years ago and have just been compounding since.
We have lived in the same house since 1998, and don’t see any reason to move, upgrade, or downsize.
We are trying to go on mini-vacations every other month or so, and we are starting to go to nice restaurants a couple of times a month.
Even if I just decided to burn through it, I don’t know what I would enjoy doing that I don’t do now.
As for your comment on stocks crashing, I have always put all of my extra into equities (100%) which have crashed multiple times since I have been in the market. Back in 2008, I was losing around ~500k per day, but I continued to dollar cost average adding to my positions, which have at least tripled or quadrupled in value since then.
The nice thing about a long horizon, is that to me I view corrections or down markets as opportunities. I also view wealth as a water tower. I don’t need to know how much water is in the tower as long as the tap works.
I have set up estate planning for 300 year trusts, but to be honest, they will probably be blown through by those that did not have to earn it.
Incredible! Thanks for sharing. Another example of how owning your business can bring about tremendous wealth.
Living in the same house since 1998 is a testament to your discipline and frugality. I have NOT been able to do the same, moving houses every 2-10 years. But I think I’m finally in my forever house in San Francisco that I bought in 3Q 2024. It feels right.
Will look into 300-year trusts.
How old are your kids? Did you find it a challenge to raise hardworking, appreciative kids given your wealth? How do you think them receiving $2,500 affects their motivation to earn, if at all?
Thanks for your insights as I plan for the next 20 years.
My kids are very appreciative as I taught them money habits early. When I started putting $2,500 per month in their accounts, I told them I would continue doing it as long as they needed it. I defined that as those were their accounts, and they could withdraw anytime they wanted to, but if any withdrawal was made, I would assume that the decided that they had enough.
They are about 18 months apart, now in their late 20s. Starting at about 5 years old, I told them that if they would remind me every Sunday about compound interest, I would add $10.00 to an account. I wanted them to see that at some point, they would be earning more interest per week than the principal being added.
I set up an excel spreadsheet with columns for each of them, with the date, beginning balance, principal added, principal withdrawn, interest for the period and ending balance.
I told them they would earn 1% per month.
This went on for quite a while, when after a couple of years, the youngest wanted to buy a video game. No problem, just showed the amount in the principal withdrawn column.
Couple of years later, it became very obvious what that one withdrawal had done compared to the older son that had not withdrawn anything.
When they turned 18, I transferred the money to the S&P in a Schwab account for each of them, and have been adding ever since. I think each of them are somewhere around ~400k at this point.
One of my proudest moments was when my son was in a basic finance class in college, and the professor asked if anyone in the class knew the most important principal in finance.
He said that he looked around, and nobody was raising their hand, so he sheepishly raised his and when called on said “Compound Interest?”
The professor looked at him and said G** D*** right!
May I ask what business you are in to have generated $1.7mm per year?
I have been in many types of businesses since I started working. Currently I have a group of retail locations with a separate LP real estate group that owns the properties in which we operate.
To me, the mechanics of all retail is basically the same whether it is an ice cream store or restaurant. To be successful, controlling the real estate is essential, and as prices have risen over the years, I have kept the rent the same thereby being more competitive through my cost structure. I have always put new real estate on 4 year payouts, so I am completely unlevered, which I know is suboptimal, but gets you through bad times really well. My wife and I have no debt except for whatever we put on our credit cards during the month.
Basically, the ~$1.7MM isn’t that hard once you get to scale. The companies pay me $350k salary, I earn about $300k each year in Dividends/Interest/Cap Gains from my portfolio of stocks (of which I reinvest all of it), and then about $1.1MM in K-1 income from the businesses. This is generated from retail receipts in excess of $10.1MM getting about 10 cents of each dollar taken in the door (we are more efficient than that, but I have a couple of partners).
I think that can be done with just about any business if the owner is paying attention. I have worked from home for the last 25 years, and have hired operations managers. I have the opinion that if a business owner constantly diversifies away from their business, they won’t have all of their wealth in an illiquid investment, and can basically own their equity forever by hiring and paying for great operations personnel. When I die, company purchased life insurance will triple the equity that my family will then own.
Where does it all go?
First of all, $7k is for tax withholding out of each bi-weekly paycheck, $72k is sent in each quarter for estimated tax, $9k goes to our household budget (my wife loves Amazon, I think we have our own dedicated truck), $5k to a vacation / entertainment fund, and $5k to our kids Schwab account. Any excess is put into the S&P 500. I have an institutional account, so I only have to pay a 0.04% fee, or $400 per million invested.
So our total outlay, if we spent it would be $228k per year. Currently we only spend about $125k. With no debt, sometimes that’s hard to do.
Kevin
Thanks for posting all this information – I really enjoyed reading it!
I don’t think the self-sacrificing mentality as a parent would work well in the long run, both for the kids and the parents’ wellbeing. Self-sacrifice always comes with expectations and controlling, and there is a high risk of being bitter and resentful if parents’ expectations and kids’ personal choices clash later in life.
Any well-to-do families with 7 figure portfolio and 6-figure income could buy $ 140 dollar shoes (maybe cheaper alternative less than $100) and pay for kids’ not so expensive extra curriculum (<$100 an hour) at the same time. What is the point of doing private lessons for the kids while most things could be learned in a cheaper way and deprive the parent a pair of decent shoes? Most kids are not Olympic material and they do sports for fun, what are the points for private lessons and competition in the US at the young age, for ivy leagues in the future? That just adds to anxiety and dissatisfaction. It is OK not to provide the “best” for the kids all the time, especially at the cost of parents’ reasonable needs. Parents need to take care of themselves first and foremost, and that is not being selfish. There is always a limit to provide in terms of materials and there is no shame. There is a wider range of emotional support parents could provide that cost nothing, i.e. understanding, acceptance, unconditional love etc.
There is increased efficiency when you do a private lesson versus a group lesson. In a group lesson, you have to wait for the slowest kid. We can also schedule a private lesson that is more suitable to our weekend schedule. So the flexibility is nice.
Are you saying you have no problems spending money on yourself? If so, how do you think you were able to spend so freely? And are you satisfied with your net worth?
What I’m really into is practicing and showing instead of just saying when it comes to my children. So if they see daddy, be frugal and utilize his things until their maximum usefulness, Maybe they will develop frugal habits and less wasteful tendencies as well. But I don’t know.
The biggest challenge for FIRE Parents is figuring out how to enjoy your wealth that you worked so hard when you were younger and also not entitled and spoiled children who have done nothing to earn their wealth yet.
Are you FIRE with children? And if so, How do you manage to juggle this challenge? Thx
Agreed that private lessons for flexibility and efficiency, and that gets back to the issues the US middle class faces these days, people have to pay a premium price for moderately decent service that is barely available.
I have no problem spending on smaller things on myself but I am very careful with big ticket items. When I am with the child, I am always stricter with budget to show them that you could not get everything you want because no matter how much money you have it is still limited. We have to make choices on what to get or find cheaper alternatives.
I am fine with my net worth and could theoretically coast FIRE. It is the net worth that I don’t have to give up a couple of hundred dollars-worth of items/experience only for myself and/or my spouse a couple times a year, haha, so actually it is still frugal enough. My kid has sufficient extra curriculum activity mixed with group and private lessons.
I don’t believe in today’s ivy leagues or fancy schools that worth parental sacrifice, I think that just turns into traps for middle class parents who are willing to pay and hope their kids become another generation of fancy workers who are totally dispensable by the ruling class with power and wealth. I don’t know what the future holds for our kids in the US and don’t believe just grinding hard work would lead to a happy and fulfilling life. Young people still need to work hard enough to sustain themselves in the society, but anything beyond that, they have to figure it out themselves.
I have historically had the same problem. We spend freely on our kids and deny ourselves. My spouse struggles even more than I do—he is always ready to help out a needy family member but had the same golf clubs for over 20 years (and is an avid player) before I recently gave him a nonrefundable gift certificate for new clubs for a holiday. I need to let myself buy a new luxury car next. The teenage babysitters we occasionally use have nicer cars than I do.
Also, I hope you buy yourself some shoes! Physical therapy from an injury that might have been avoided if you were in decent shoes is even more expensive than replacing shoes when it is time…
I completely agree. We have helped our children buy houses, yachts, and businesses yet, while here in Paris, I hesitate to order what I really want on the menu because it’s more expensive than an acceptable alternative. After a fight with cancer this summer I remind myself that tomorrow isn’t promised-but it is hard to undo years of behavior.
I’ve never had a commenter say they helped their children buy yachts before. Fascinating! Hope you have conquered your fight with cancer.
Yes 170k of alternative treatments 3 to 5 days each week for 1.5 years to recover from cancer and damage from cancer treatments. The time and pain to recover is beyond a full time job for a couple. took all my Wife’s brain power as MD to accept and reject treatment options. Karen, I wish you recovery and joy in life. One of the trusted doctors in this journey just passed at 75. Hint the old doctors that left the main stream will help with new ideas.
Sam, Sam, SAM!!!! IF you are going to do sports, you MUST have the RIGHT equipment in GOOD repair! That includes SHOES!!!! What if your shoes decide to rip completely apart at an inopportune moment, you fall, turn your ankle, hit the ground HARD, break a leg, or even a HIP???? Outrageously pessimistic thinking, I know, but it COULD happen. THEN how would you feel??? When it comes to your health, you do NOT want to be penny wise, pound foolish. Of course, I’m a non-athletic KLUTZ, so maybe you need to take my admonition with a grain of salt. But strange, stupid things do happen. Even after six plus decades of life I’m still finding NEW ways to be a klutz. *sigh*
Think of it this way: You certainly want your wife and children to have the right equipment for whatever activity they are participating in, don’t you? Don’t you think they want the same for you? How can you take care of your family if you are laid up with an injury because you were too MISERLY (DON’T call it frugality!) to buy a pair of shoes NECESSARY for your sport? Reducing your risk of sports injury due to the use of improper equipment is NOT a luxury! Buy the right pair of shoes for your sport(s)!
Reminds me of the car accident I had back in January. I was driving our 2017 Honda CRV. Thankfully I was not injured. But I started thinking: If I had been driving our 2010 Nissan Versa four door sedan, I could have been seriously injured. I had been holding off replacing the Versa for “awhile” because (1) it was very roomy for a small car, (2) it was in good shape with less than 60k miles on it, and (3) I really, really, REALLY didn’t want a car payment. Needless to say, 3.5 weeks later (it took me awhile to figure out what car I wanted to buy) we traded in that little 14 year old Versa for a 2024 Subaru Outback. I thought I would miss my Versa dearly. I didn’t miss it at all. I call my new car my “Subaru Safety Bubble.” Most importantly, it made my hubby very, very, VERY happy that I was driving around in a much more safer car than I had been driving. THAT is PRICELESS.
BUY YOURSELF SOME NEW SPORTS SHOES! (or have Sydney buy them for you)
Oh, and keep those “collectible” shoes in your closet. You don’t want to ruin that pair due to their sentimental value. ;)
I agree! Shoes are so important. Just waiting for Nike’s upcoming earnings report to see if they beat, change strategies, or guide up!
This is a timeless discussion for us lifetime of savers. I still struggle mightily to spend money on myself for goods/things, but I have found that I don’t struggle anymore to spend money on myself for experiences – namely travel and dining.
I have been looking at an Audi convertible that I love for 3 years and can’t pull the trigger, but have spent 10’s of thousands of dollars a year on several Scotland golf trips, member of a golf club, and my wife and I dine at the nicest restaurants in Wash DC area regularly. Absolutely no regrets. I learned I just value experiences and doing things over goods/things.
Do you think of “experiences” in the same category of “Spending on yourself” as “things/goods”? I do. Do you ever splurge on Warrior games? Go away with the guys?
PS.Get the nicer shoes – you aren’t splurging on yourself. It is a necessity for your health!
Ah, cool you enjoy golf so much. I did as well before I had kids! Now it takes too long, and chunking the grass helps stir up my allergies :)
Funny thing about the Warriors. I CAN’T get myself to pony up to pay $300+ for average Warriors tickets. Why? Because for years, I got free tickets to watch the Warriors play the Spurs because a friend of a friend knew Coach Pop. Then, I got to know one of the Warriors point guards extremely well, and he invited me to many of his games too, including hanging out in the players lounge and stuff.
I’m also kinda experienced out. I’ve lived abroad for 13 years, studied abroad, visited 60 countries, and have done so many experienced adventures. I hope my battery gets recharged for my kids, who are starting to come of age.
Hear my podcast episode: Inside An NBA Champion’s Journey With Shaun Livingston
Hard to pay for tickets when you used to attend games for free. Very understandable.
I also don’t want to be away from my family and drive to the stadium when there’s a nice TV at home. Games start at 7:30pm, which means I need to leave by 6:35pm and miss bedtime with the kids.
I still get lots of joy watching on TV!
It’s also hard to pay for tickets when you consider attending the game to be a waste of time and money
I understand. I’m quite willing to spend $$ on everyone other than me. The other night I was on my way home and decided to stop for a milkshake. When I got home and offered to share it with my wife, she wanted to know the occasion for my splurge. When I said “I felt like it” she seemed surprised. Apparently that’s not like me.
I totally understand this. My wardrobe needs a major overhaul. But I have a hard time doing it bc clothes, amongst most things these days, are not cheap anymore if you want good quality items at least.
That said I still only buy clothes that are on sale or off label. I just can’t stomach paying $30-50 for a tshirt etc if I can bargain hunt and find some for $5-10 instead that are just as good.
Good shoes are very important for sports though. You just have to try and tell yourself it’s a baked-in cost of playing tennis which is not only enjoyable for you but it’s also greatly benefiting your health! Thats a win-win imo.
I used to spend around $140+ a pair getting Adidas Ultraboost shoes. Then I switched to Asics after Adidas quality started to go down. Cheaper and basically as good. I would use them for about 3-6 months. Now I’m switching to Costco comfort walkers which are $30 a pair. My logic is that at that cost I can buy a new pair every month (hypothetically) and still come out ahead.
For your jacket situation, did you consider a lower cost alternative? Maybe replacing items more frequently at a lower cost is an alternate strategy to buying expensive stuff less frequently.
This is referred to as “high low mix” in the military.
I prefer to spend more money on higher quality goods that last longer. Because I don’t frequently shop, I don’t enjoy the process of shopping.
The less things I have, the better. Clutter bums me out. I end up wearing the same things over and over again.
It’s kinda like my preference for having long-term tenants versus more turnover at higher rents. At my age now, I want to simplify more.