7 Things You Will Never Regret Spending Money On (2024)

In my mind, being frugal, is lessabout not spending and more about intentional spending.For example, I may have (mostly) stopped my mindless shopping habit thanks to a No Spend Challenge I did several years ago, but I am not afraid to spend money on things that I feel add value to my life.

After all, frugalityis not just about ahouse full of containers waiting to be reused, or having a pile of cheap clothes waiting to be mended. Sometimes, it’s about using yourtime and moneyintentionallyto do more ofwhat you love.

7 Things You Will Never Regret Spending Money On (1)

Here are seven things that I never regret spending money on:

Good food

For me, good food is one of the best things in life. Especially delicious, satisfying meals where I’m gathered around a table with family or friends.It’s about quality. Quality food, quality company and quality conversation. Tasty, well made food and slow eaten dinners whether you’re eating out or cooking at home just can’t be beat. Sometimes being frugal means purchasing some grocery itemsof lesser quality so that you can splurge on the things that really matter to your family’s good food philosophy. (Grass fed beef, organic fruits & vegetables, for example.)

Travel or Fun Experiences

Nothing quite brings a smile to my face like the opportunity to travel to new places or enjoy fun experiences. We recently took our daughters to a local annual fair that was quite costly. (Admission, food, rides…it all adds up!) But we save our hard earned money for timeslike this. I lovedseeing the smile on our oldest daughter’s face after she experienced her very first fair ride. Or hearing her squeal when she saw the tiny baby pigs. It was worth it!

My husband and I also have dreams to travel abroad one day. I have done some traveling in Australia and Africa before I was married, but my husband hasn’t done much. I can’t wait to see the day when we can make his dream of travelling to Europe and other countries a reality.

A hobby that makes you happy

I consider Simply Frugal a money making business, but it’s also my hobby. I spend time researching, writing and even spend a decentamount of money to keep it running. But it’s fun! I enjoy learning all aspects of running an online business and I love seeing what I do help others. As with any hobby, (sewing, jewelry making, or even a tropical fish hobbyist) you have to spend money to do your thing. And if it brings you joy, then by all means go with it and make room in your budget.

Learning new things

I love learning new things.I’ve done online courses (where I learned a lot about various aspectsofblogging) and in-personconferences. I’ve also spent money on books and travel; all experiences that have helped expand my mind. Learning makes me feel more confident and proud of myself.

Quality items

Comfortable, sturdy shoes that Iwear season after season. A high quality set of cooking pots made to last. A brand name backpack that I have been using for every trip I have taken since I went to Australia 15 years ago.

I’m talking about well made, quality items that serve a specificpurpose in your life. It’sincredibly satisfying to actually wear something out and then replace them with something just as good.In today’s disposable society, there is something sosatisfyingabout knowing you’ve made a good, quality purchase!

Services that improve your quality of life

There is no rule in the frugal lifestyle that says you must DIY everything. If you really hate housework, hire a cleaner. If you desperately need some time to yourself, hire a babysitter. Or even if you think you can fix the toilet, sometimes hiring a professional can save you money in the long run if something goes wrong if you try to DIY.

I know that services are sometimes expensive, but it’s about looking at your values and prioritizing your spending. You might be surprised at what you can afford!

A cause you believe in

Lastly, I never regret being generous.I believe that giving to charity is important. Whether that be a local charityor a charity in a third world country.Imagine what would happen if everyone gave, even in a small way? Money donated to charity always feels like money well spent if you’re donating to what speaks to you.

I also love to surprise friends and family with little meaningful gifts, especially when they are not expecting anything. I believe in cheering up those that are “in the trenches” of daily life.

What are your thoughts? What do you never regret spending money on? Let me know in the comments!

7 Things You Will Never Regret Spending Money On (2024)

FAQs

7 Things You Will Never Regret Spending Money On? ›

Overspending can happen for different reasons, such as: You might spend to make yourself feel better. Some people describe this as feeling like a temporary high. If you experience symptoms like mania or hypomania, you might spend more money or make impulsive financial decisions.

What three things you would never spend your money on? ›

I'm a Financial Planner: Here are 5 Things You Should Never Spend Money On If You Want to be Rich
  • Luxury Items. This includes designer clothing, expensive watches, vintage cars and any other high-priced status symbol items. ...
  • Impulse Purchases. ...
  • Rent. ...
  • High-Interest Debt. ...
  • Overpriced Financial Products.
Jan 12, 2024

How to not regret spending money? ›

How to stop spending money you'll regret
  1. Understand what you're spending money on.
  2. Set a savings goal.
  3. Bring your goals to life.
  4. Automate your decisions.
  5. Picture the alternative.
  6. Pay off debts where possible.
  7. Set up alerts.

What should I stop spending money on? ›

50 Things to Stop Wasting Your Money On
  • ATM Fees. Paying for ATM fees is like feeding your money into a paper shredder. ...
  • Bottled Water. Not only does bottled water cost more, many cities' tap water is often as clean. ...
  • Bulk Groceries. ...
  • Cell Phone Data. ...
  • Coffee. ...
  • Fancy Gadgets. ...
  • Flavored Beverages. ...
  • Gasoline.
May 9, 2017

What is the psychology behind overspending? ›

Overspending can happen for different reasons, such as: You might spend to make yourself feel better. Some people describe this as feeling like a temporary high. If you experience symptoms like mania or hypomania, you might spend more money or make impulsive financial decisions.

What are the two things you Cannot buy with money? ›

The two things that money cannot buy are time and peace.

What is one thing that money Cannot buy? ›

Loyalty – Money has been used to bribe and purchase loyalty, but real loyalty has no price. Peace – All the money in the world can't buy you peace. In fact, money may cost you some peace and cause you a lot of stress in the process. True Friends – They can't be bought, sold, rented, auctioned off, or leased.

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

Why do I feel guilty every time I spend money? ›

There are so many reasons why you might feel guilty about spending money: lack of planning or unrealistic budget, your money mindset or experiences in your childhood, or. feelings of unworthiness around spending money on ourselves – to name a few.

What is money dysmorphia? ›

Money dysmorphia, a condition where individuals have a distorted view of their financial health, is increasingly troubling younger generations. It causes stress and anxiety that often doesn't match the reality of their finances.

What is a no spend month? ›

The “no-spend” challenge has been around for years but gained new life in 2024, thanks to TikTok and No Spend January at the beginning of the year. Participants are encouraged to go on a spending “fast” by abstaining from buying anything but the barest essentials.

What is a person who is wasteful in spending called? ›

Answer. The word closest in meaning to what you want is spendthrift. Spendthrift is a noun that means "a person who spends money in a careless or wasteful way."

How to make extra cash? ›

Ways to Make Money on the Side
  1. Get paid for your photos. Do you have photos of gorgeous sunsets and perfectly staged lattes cluttering up your camera roll? ...
  2. Drive for Uber or Lyft. ...
  3. Become a food delivery driver. ...
  4. Join a focus group. ...
  5. Deliver groceries. ...
  6. Take up babysitting. ...
  7. Start pet sitting. ...
  8. Advertise on your car.
Mar 22, 2024

Is overspending a mental illness? ›

For some, overspending becomes buying-shopping disorder, or compulsive shopping disorder (CSD), which is characterized by repetitive, uncontrollable spending that causes serious life difficulties.

How to stop obsessing over money? ›

8 strategies to stop stressing about money
  1. Don't let money consume your thoughts.
  2. Get organized.
  3. Let go.
  4. Set up monthly auto payments.
  5. Talk to someone about your financial stress.
  6. Manage your health to build wealth.
  7. Focus on your financial goals.
  8. Live a little.

What is money anxiety? ›

Money anxiety affects many people. A constant fear of not having enough money to meet basic needs or secure your future can lead to constant stress over financial decisions, savings, and debt. It can impact your ability to enjoy life and make confident financial decisions.

What are things that don't need money? ›

30 things you can do this weekend without spending money
  • Play board games with friends.
  • Go for a walk.
  • Learn to meditate.
  • Sell things you don't use.
  • Read a book.
  • Try a new recipe.
  • Create a budget.
  • Rearrange furniture at home.

Why shouldn't we waste money? ›

By avoiding wasteful spending and staying within your budget, you can reduce financial stress and enjoy a greater sense of peace of mind. Increased freedom: By not wasting your money, you can have more flexibility and freedom to make choices about how you want to live your life.

What are the bad things about money? ›

The Negative Effects of Money
  • Moral degradation. Acquiring lots of money doesn't automatically make someone immoral, but there is a good tendency one may become if they find themselves in such a situation. ...
  • Money can lead to addiction. ...
  • Greed and pride. ...
  • Money can make you lose sight of what's important.
Feb 28, 2023

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