Over my life, I've noticed that my expenses for living fall into one of three buckets:
- Exciting buys
- Wise purchases
- Necessary costs
But I'm mostly curious about that first one...
What is your favorite kind of exciting buy?
My exciting buy might be a new musical instrument even though I have plenty, a new video game, purchasing art, a vacation, a luxurious meal, etc.
And less on the fun side of things, my other categories would shake out like:
- A wise buy might be investing in a house or business, putting money away for savings, or spending a premium on a BuyItForLife kind of purchase to avoid buying a new one every year.
- A necessary buy is probably the same as most others: housing costs, utilities, clothing, household goods, food, transportation, etc.
I’ve learned that I’m much more likely to splurge on food (like more expensive brands or new products) than on other things.
I’m not much of a spender overall but subscribe to the mantra of “if it separates you between the earth, it’s worth spending a little more (like shoes, tires, mattresses, etc.).