Sunday, 3 September 2017

Budgeting/Dreaming/Spending


 




What kind of spending seems worthwhile to you?   This was the question posited in this article by Adam Jusko in the blog Proud Money.    He decided to contact a range of people to find out what was worthwhile  to them after deciding that live performances by favourite artists made the cut for him.

Health is an important expenditure, especially for those who don't have the government safety net to make them feel secure, at least about emergencies and critical care.   Some find contributing to charity especially meaningful.   Travel gets several mentions as a purchase not regretted as does spending to improve oneself, either for employment or personal growth.





Similar to the exercise I describe in my book, this is useful to determine whether you are getting value for the money you trade your life energy for a la Your Money or Your Life.    No one seemed to mention a roof over their head or a car to get around in.   I suspect that those questioned considered those items a given and were considering their disposable income.   Unfortunately, for many, after they pay the bills for items they have previously committed to there isn't that much left for the meaningful stuff.  


Something to think about.

2 comments:

  1. Something to think about indeed. Thanks for the sober reminder. It made me recall a documentary I saw once on people who got caught up in payday loans. They are trying so desperately to pay off loans with interest rates up to 300 percent APR. THREE HUNDRED PERCENT!

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    Replies
    1. Especially sad are the situations where the inability to pay a small bill or fee, like a parking ticket, ends with the person going to jail.

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