Being frugal has definitely kept me out of financial trouble. I used to save a whopping 50% to 70% of my after-tax income until I hit 35. That’s when it hit me: why keep pinching pennies when I could be enjoying life a bit more? So, I’ve decided to share some insights on what’s truly worth splurging on for a better quality of life.
During the pandemic, our lifestyles took a hit. Now seems like the perfect moment to invest a bit more in our happiness, especially for those who have seen their investments grow.
I’ve started spending on things like travel, cars, and homes. After all, our investments have flourished since the pandemic started, so why not indulge a bit?
However, being overly frugal can be a downside too. I remember walking the entire city of Budapest to save money, but then I decided to splurge on a Hop On Hop Off bus tour. Instead of just having water with my steak, I now treat myself to a nice glass of wine. These changes have made my life significantly better, and honestly, I haven’t missed the money.
My frugality comes from watching my parents stretch every dollar. My dad always drove old cars, and my mom used things until they fell apart. That mindset was crucial for early retirement, but it took me three years post-retirement to start loosening up a bit.
If you find yourself a bit too tight with money, here are some areas where it pays to spend more for quality:
1. Mattresses: You spend a third of your life sleeping, so invest in the best mattress you can find. Just watch out for the high markups.
2. Eyewear: Your vision is critical, so don’t skimp on good glasses or contacts with the latest technology. Get UV protection for your sunglasses too.
3. Dental Care: Upgrade from a manual toothbrush to an advanced electric one that cleans better and protects your dental health long-term.
4. Professional Wardrobe: Instead of buying lots of mediocre clothes, opt for a few high-quality pieces. This means better fabrics and construction which will last longer and look better.
5. Baby Products: For your baby, always choose the best you can afford. This includes super-absorbent diapers and the right creams to prevent diaper rash.
6. Sports Equipment: If you’re serious about sports, don’t hold back on buying the best gear. This can improve your performance and enjoyment.
7. Prime Real Estate: Always aim for the best location you can afford. Property in prime locations tends to hold its value and appreciates more quickly.
8. Home Appliances: Whether it’s a showerhead or kitchen cabinets, higher quality often means better longevity and satisfaction.
9. Home Theater System: With a top-notch setup, you might never spend money on movie tickets again.
10. Smartphones: We check our phones constantly, so it makes sense to use a reliable and high-quality device.
If you’re looking to enhance your life, these are some of the best areas to invest in quality. Don’t be afraid to spend a bit more on things that can offer you a better lifestyle, comfort, and efficiency. After all, life is too short to not enjoy the fruits of your labor.
