Financial Choices

[LivingAlmostLarge]

Are there financial decisions you regret but you still make them? I assume most of us are responsible but are there things you choose to do that are not "financially" wise but you do it anyway?

I know I tell others not to lease cars for the most part, but we now have a leased car. Trust me it still grates on me but not worth the argument in my house. It's also something I never thought I'd do. I will say that my FIL and my Dad leased cars but they owned their own businesses and leased it to their businesses. So I understood that.

I also got cable and a regular cell phone plan. Cable is definitely an indulgence but it wouldn't save me much to have internet because Comcast knows they can charge us what they want since they are our only choice. And i try to minimize our cell phone plan but it turns out the cricket, etc plans don't beat our tmobile family plan. But I do buy a cheap nexus phone and roll with it to save money.

[disneysteve]

When we travel, I am just fine staying at a low end motel but DW wants interior corridors and nicer stuff - not luxury, just nicer and safer-feeling than the EconoLodge.

Cable TV for sure. We lived without it for many years. When we first got it, we paid for just the limited basic package ($10/month) but they accidentally gave us the full package and never caught the mistake. So we got used to having all of the other channels. When the switch to digital occurred, we had to start paying the actual cost. So now instead of $10/month we pay $70 or so. I'd be happy to cut back to the basic plan but DW and DD wouldn't go for it.

DW and DD insist on brand names on a lot more grocery items than I do. We buy a lot of store brand stuff but if it were up to me, we'd buy even more.

I'm sure there are plenty of others if I think about it.

[DaveInPgh]

Dining out is the first thing that comes to mind, and I am the one most guilty of suggesting it in our household. There are times my family will want to go straight home from an activity/errands, but I will recommend dining out.

It is so bad that there are times I will drop them off at their request and still go pick something up for me to eat.

[disneysteve]

We enjoy going to the casino now and then. We don't go nearly as much as we used to but we do still do it occasionally. We consider it entertainment and go with a reasonable limit on what we will spend but we both realize it isn't a good financial move. However, I don't think it's any worse than any other entertainment spending - movie tickets, Broadway show tickets, travel expenses, etc. And there are those occasions where we come home with more than we left with, which never happens with any other form of entertainment.

[DaveInPgh]

Steve's second post just reminded me of the instant lottery tickets that I purchase. For me it provides some enjoyment. The expense is not significant but would definitely be better suite elsewhere. I tracked it in a spreadsheet one year out of curiosity and I actually came out ahead that year. However I am well aware that is not the likely to be the norm.

[disneysteve]

Essentially, anything that isn't truly a need or an investment for the future could be viewed as not financially wise, but what fun would like be?

We currently have annual passes to Walt Disney World and have been there 3 times since November. So between the passes themselves and the travel expenses, we've spent thousands of dollars during the past year. Sure, that money could have gone into our Roths or other investment accounts but that's not what we want our lives to look like, even if cutting all of the extra stuff would mean I could retire sooner.

Citibank had a great slogan years ago: Build a nest egg but don't forget to make a few omelettes along the way.

[GoodSteward]

Dining out for us is one. We don't do it often, but we do it more than we really should.

Financed both vehicles I have. I wanted to avoid ever doing it again, but eventually broke down and did it, twice. Hopefully, I won't do it again after this, but if I don't plan to avoid it I never will.

[sv2007]

I'm afraid that I'm about to make the mistake of my life again. It's like a druggie/alcoholic/gambler who's clean for years considering getting back into it. It is both a financial choice and a lifestyle choice; once you've tasted it, it is hard to leave (ever).

I'm slowly moving towards it and hope to get there by the end of this year. A part of me is telling me to not do it; but you only live once.

[disneysteve]

I'm afraid that I'm about to make the mistake of my life again. It's like a druggie/alcoholic/gambler who's clean for years considering getting back into it. It is both a financial choice and a lifestyle choice; once you've tasted it, it is hard to leave (ever).

I'm slowly moving towards it and hope to get there by the end of this year. A part of me is telling me to not do it; but you only live once.

The first thing that came to mind is that you're buying a boat. I know several people who have that "addiction". Every time they get rid of one, they swear they'll never buy another and then a few years later, sure enough they do just that.

[Snydley]

It's the bottles of wine I keep buying..I only drink one glass, maybe two a night, but I just don't like bottles that are less than $10-12 bucks a pop and sometimes it pains me to spend so much per glass but alas, I do.

[LivingAlmostLarge]

Oh i forgot the beers. Sigh my DH loves craft beers and it's not cheap. Cheaper than drinking out but if he wanted to decrease our budget he'd abstain. That and liquor. But I enjoy cocktails as well.

[DaveInPgh]

Bacardi and Diet Coke for me please

[HundredK]

I guess the things I most regret are the impulse buys when we travel. I've gotten a pretty good grip on that lately, but it's really hard when you're away from home and it's easier to somehow justify stupid purchases by saying you may never have X opportunity again.

[msomnipotent]

My husband and I just spent $90 on a bottle of Scotch at Costco last night. We both like Scotch and didn't celebrate our anniversary, so we decided to splurge. Neither of us care for it. It is barely ok and we expected to have our socks knocked off. We need to stop buying alcohol from Costco because we have a huge Binny's right by our house and we can taste the Scotch before we buy it there.

[DaveInPgh]

My husband and I just spent $90 on a bottle of Scotch at Costco last night. We both like Scotch and didn't celebrate our anniversary, so we decided to splurge. Neither of us care for it. It is barely ok and we expected to have our socks knocked off. We need to stop buying alcohol from Costco because we have a huge Binny's right by our house and we can taste the Scotch before we buy it there.

I need a place to sample the booze before I buy. I have purchased a few different Rums this year that I did not enjoy. And each time I ended up saying "I should have stuck with my Bacardi"