Savers, do you ever treat yourself when you get a big raise or bonus or capital gain?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| I've worked hard for a long time, got laid off during the Great Recession, and now I've finally landed back on my feet. All in, my income should be around $360K in 2014. After everything, I feel like I deserve a treat. But than I read the threads with the savers, and they all supposedly drive old cars, never eat out, etc. |
Anonymous
| What type/size treat? That's the difference. You'd better not be talking about a new car. |
Anonymous
well, I'm a guy, so I want a new car 
my wife wants a new master bathroom. 
I drive an old gas guzzling SUV with 150K miles on it .... |
Anonymous
|
Saver here. DH just got his masters while working 60 hour weeks and we planned a 2 week vacation to Yellowstone (his choice- I would have preferred Asia) to celebrate. With my 15k raise, we opened some champagne. I think the point is that you need to do what you want to celebrate.
I think that when you are very happy in your life you don't feel like you're missing out or needing a treat. I just got a new job and literally the happiness of it has me on cloud 9 for months. I had planned on buying a new purse, but decided I didn't care. We generally aren't big gifters, but we do buy things for the important celebrations like 1ct diamond earrings as a wedding present or a tennis bracelet with the birth of children. |
Anonymous
|
Do you have an emergency fund with six months to a year's worth of living expenses in it in case you get laid off again? Are all your debts (other than mortgage) paid off? Are you on track for saving for retirement and sending your kids to college (assuming you have kids)? If so, then treat yourself away. If not, particularly if you don't have an emergency fund, you might want to wait a year or two.
If you are genuinely planning to replace the SUV with something that gets better mileage and is a reasonable cost (Toyota or Honda, not Lexus or Infiniti) that could pay off down the road. If you don't have a solid emergency fund, how about buying a car that is a couple of years old? |
Anonymous
| I actually think a new master bath would be the better use of funds. Increase in house value vs a depreciating asset. Savers would drive their car until it dies. As a female I only drive cars until 150k miles though because I don't want to be stranded, but it's a non point since I ride metro. |
Anonymous
150K seems pretty arbitrary. Where did you come up with that #? Newer cars (say 2003 and later) use synthetic oil and seem to last forever. |
Anonymous
| We don't but that's because we don't want much, and we buy what we want already. HHI of $435K. |
Anonymous
| I got a gym membership with my bonus this year so I can get some exercise. |
Anonymous
| No, not really. We purchase things when we need them, not when we receive a windfall. Windfalls also go into savings with the goal being building our principal to such a great extent that we can purchase whatever we may need or want from proceeds provided from interest or dividends without ever depleting the principal. |
Anonymous
| We usually just go out to dinner to celebrate when either of us gets a raise or a bonus. |
Anonymous
Same here. HHI is 100K so that seems more reasonable 
|
Anonymous
sometimes you have to spend money to make money. right kind of clothes, car, etc. sometimes helps. |
Anonymous
|
We try to balance everything. 20% to retirement. 20% to kids college/schools/camps. Whatever is left over is ours to spend how we want--something new for the house, a new car, a great vacation, shopping spree to New York.
This years purchases were a new car for me and some new furniture for the house. You can't only live for tomorrow. You have to balance today as well. |
Anonymous
|
I won a $200 in my fantasy football league this year and I used it as proof to my dw how all those hours spent researching players was all worth it!
So it was more a moral victory... |