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Earlier this week, Aaron asked whether repaying debt should be an obsession.
I replied that for some people, “gazelle intensity” makes more sense. (Trent from The Simple Dollar is one of these folks.) For others — including myself — it’s important to exercise balance, to allow a budget for fun.
Everyone who opts for a life of thrift can benefit from finding one or two things that make them feel “rich”. These indulgences don’t have to cost a lot of money — they just need to provide mental relief, an escape of sorts. While browsing through old conversations at Wesabe, I stumbled on a related question from Rebecca2Lexington, who asks, “What makes you feel rich while being frugal?”
Ok, let’s get some creative juices flowing and share with some great ideas to feel abundance while paying off debt. We have been paying down debt and staying on budget for several months now. Tell us about your mini splurges or thoughts are that keep you going.
This is a great question. It gets to the heart of what frugality is all about: establishing priorities so that you’re able to spend on the things that matter to you while ruthlessly cutting the things that do not. The 59 comments in the Wesabe discussion include suggestions like:
- Potluck dinners with friends
- “Spending the $10 to clean my car thoroughly, inside and out, but especially the inside.” (I know from first-hand experience that this is also a great way to kill the new-car itch.)
- Getting your hair done at a beauty school or getting a massage at a massage school.
- Debtkid says that a $2 firelog makes him feel cozy.
- Several people mentioned prepaying their mortgage or paying down credit card debt or contributing to mutual funds as actions that make them feel rich.
- Allese offered two great ideas: spending time outdoors and organizing her home. A clean home can make a huge difference in how you perceive your environment.
For me, food is an important part of my lifestyle. I’m able to cut back on clothes and books and entertainment, but I’m unwilling to economize on food. Why? Because when I eat well, I feel wealthy. Being able to spend $15 on my favorite pasta dish at Gino’s makes me feel rich even when the rest of my expenses are cut to the bone.
But one thing that has helped me feel richer than anything else: Quitting my day job. For the past 15 months, I’ve worked from home. I’m actually working longer hours than I did at the box factory, but I don’t mind. I have the freedom to go for a 6-mile run at 10 a.m. I can go to lunch with a friend. I can take a break to walk to the library. If I feel like taking a hot bath at 2 p.m., nobody’s going to stop me. Though I’m working long hours, the freedom to structure my life the way I want it makes me feel rich. And it doesn’t cost me a dime.
What about you? What makes you feel rich while being frugal? What mini splurges keep you going? What about cost-free ways to feel rich? I’m not looking for all of your indulgences — just the ones that make you feel as if you have a greater disposable income than you really do.
This article is about Ask the Readers, Frugality, Psychology Friday, 22nd May 2009 (by J.D. Roth)
May 22nd, 2009 at 5:08 am
Great question! Traveling makes me feel wealthy every single time. It may not be frugal, but that’s one of the things that drives me to stay frugal: having enough money to travel.
The other thing that makes me feel rich is just hanging out with my wife and knowing that we’re happy, healthy, and have a great future ahead of us. Corny, sure, but it makes me feel like a million bucks.
May 22nd, 2009 at 5:09 am
For me, it’s the “adult allowance” or “blow money”. It’s very nice to have money to spend on whatever I want to. It’s not a lot of cash, but it’s enough to have dinner out, buy lunch occasionally or save up for something “bigger”.
May 22nd, 2009 at 5:17 am
Having an emergency fund makes me feel wealthy. Knowing that if/when something goes wrong, I don’t have to panic, because we can take care of it.
I spent plenty of years without an emergency fund and the stress and worry that ensued whenever the slightest unplanned expense came up was miserable. It also left me with a feeling of scarcity. Setting aside some money in reserve, even when it was just a very small amount, gives me a sense of abundance and wealth.
Because of this, I do think it’s very important to build up at least a small emergency fund before aggressively attacking debt. It’s a relief not to have to add to the current debt if the car breaks down or the water heater goes out.
As for cheap fun . . . I love to watch movies, but movie theater prices are nearing obscene. I’ve found a kiosk in my local grocery store that rents newly released DVD’s for $1/night. Add some homemade popcorn and it’s a night of really cheap entertainment.
May 22nd, 2009 at 5:21 am
We budget to see the Broadway tours that come through. Not every one, but enough to feel like we’re really indulging in the season. (One great thing our theater complex offers is $10 “Smart Seats” so we can really only spend $25 on tickets for the two of us and still see the show. Granted, they’re at the top of the theater, but when it comes down to it, I’d rather spend $25 and be at the top than not go at all.)
We also give ourselves “fun money” every month. Each of us gets $200 with which to do whatever we want. It’s meant that I can fuel my addiction to books without guilt and my husband can buy all the gadget he wants.
These things make us feel rich on top of how rich we feel when we see our debt shrinking every month.
May 22nd, 2009 at 5:27 am
I agree with the Writer’s Coin.
Traveling frugally is a great way to feel rich. It doesn’t have to be to some tropical destination or luxury resort. Even though we really try to pinch pennies and cut corners when we travel it really makes us feel rich.
I guess the word “rich” can have a lot of meanings. Actually, traveling makes us feel “rich” on several different levels!
May 22nd, 2009 at 5:40 am
I feel rich every time I don’t have to think about money. When it’s not on my mind, that’s when I look and feel like a million bucks.
May 22nd, 2009 at 5:43 am
I agree with the post—having a totally clean car makes me feel like a million bucks!
My other “guilty pleasure” is my ipod–even though they came out a long time ago, its cool design and ease of use, not to mention the pleasure it still gives me to listen to a new 99 cent song (or an old favorite), makes me feel wonderful
Are you going to next ask what you spent money on that *wasn’t* worth it?
May 22nd, 2009 at 5:52 am
I have a very random one for you — driving to work. I normally take the bus, but every week or two I drive in, pay the $6 parking and the gas. It’s a nice little break from public transit, and if traffic sucks, it reminds me why I like taking the bus. Besides saving about $7 or $8…
May 22nd, 2009 at 5:54 am
The patience I have had to cultivate as I live frugally and save money makes me feel rich. I no longer have to have things immediately, and my ability to wait for something until I have the money or can find it at a thrift store gives me power over every aspect of my life. I’m no longer a slave, but a master.
May 22nd, 2009 at 6:01 am
The freedom to be able to take a month off w/o worrying (self employed) this coming June because we have been frugal (almost there
May 22nd, 2009 at 6:04 am
Looking at how people live in other countries is always a reality check and a gratitude inducer.
May 22nd, 2009 at 6:06 am
Although we don’t have non-mortgage debt, since I’ve been unemployed the last two years we’ve become a LOT more frugal than in the past. Here’s what makes me feel rich anytime:
1. Walking out of the library with an armload of books. I especially love getting gorgeous new decorating or other coffeetable books that I would previously have bought for $40-50 each.
2. Getting a new DVD from Netflix on the day it’s released.
3. Using frequent flier miles for an inexpensive vacation. Visiting family or borrowing a friend’s condo or apartment in another city is another way to keep trip costs down while getting away from it all. During the last two years, we’ve taken 6 trips.
4. Saving my weekly allowance for a monthly massage.
5. Using my memberships at the Milwaukee Art Museum and the Chicago Botanic Garden. I get in free every time (even for special art exhibits), plus I get discounts in the gift shops. I can even treat friends by getting them in free, too.
6. Day trips to Chicago or Madison that don’t require a hotel room.
7. Giving myself a manicure and pedicure. It may take me longer than having it done at a salon, but it’s so much cheaper and looks almost as good.
8. Having my hair cut and colored — there are some things that I cannot do myself. I’m lucky I can blowdry the hair on the back of my head halfway decently.
9. Losing weight so I can fit into clothes I haven’t worn in a couple years — always makes me better than buying something new to wear.
10. Laughing with my husband. No matter where we are, I always feel like the richest (and luckiest) woman in the world.
May 22nd, 2009 at 6:08 am
What rma and frugal scholar said. Especially that I feel I have enough not to need to buy more “stuff” . Today when I left my house and looked at it(no mortgage), I thought about what frugal scholar said- I have a house and a small yard and lawn- and that is so much more than most of the world(and then I feel a little guilty)
May 22nd, 2009 at 6:09 am
Being able to buy presents for people. My sister’s wedding is coming up in August, and I really want to get her a new digital camera. Because of my saving habits, I should be able to do that. Buying stuff for myself is great (I got a camera myself just a few months ago) but getting something nice for someone else is even better.
May 22nd, 2009 at 6:11 am
Since I’m frugal because I _have_ to be, and not because I actually want to be (my *gross* yearly income is around $19,000 and I’m single and middle-aged, which is just pathetic), I honestly never really feel ‘rich’.
Until of course, I see how people in the slums of Calcutta or the slums in different areas in Africa… then I feel I’m better off. At least I have clean, running indoor water and an indoor flushable toilet. I guess my bathroom makes me feel rich, LOL.
May 22nd, 2009 at 6:12 am
Seeing that I have more than $40k in my savings account, and knowing that if I get laid off or just can’t take work any more, I have a backup plan.
May 22nd, 2009 at 6:14 am
A some of the suggestions, like having a clean car and clean house really go back to having a little pride in what you have. I think one of the keys to being wealthy is being happy with what you have.
One thing my wife and I have done is purchase season tickets to a local attraction. Now we can go whenever we want and we don’t feel the pressure of having to do everything in one day. The initial cost of the tickets seemed high, but being able to go whenever we feel like it is great.
May 22nd, 2009 at 6:15 am
Giving away money. I have a fixed amount in my monthly budget for charitable contributions, and I’ll often make them late in the month when I’m feeling broke.
I’ll also splurge on asparagus in season, and fresh berries. You can get very fancy fruits and veggies for what is really not a lot of money, whereas getting really fancy meats and wines costs a bundle.
May 22nd, 2009 at 6:19 am
The thing that makes me feel most wealthy is going to the natural food store. Why? Because health is the best wealth. I don’t own a house and I have student loan and car debt but I pay it down as fast as I can while still enjoying my life the most I can. I understand frugality. That’s why I bought a 3 year old used car and bargained for two months. That’s why I pay for just about everything with cash.
The thing that make me feel rich is hunting and traveling, though. Hunting costs money and requires time, things that rich people would have. Traveling on the cheap allows me to do something for less money but with the same outcome as someone that spends like they are rich.
May 22nd, 2009 at 6:25 am
Enjoying a good bottle of wine makes me feel rich. My wife and I can drive to a winery do a tasting of 5 or 6 wines and then buy a bottle of really good wine for $10 or $12. If we buy wine almost any winery waves the tasting fee. I’m new to wine, so drinking it feels decadent and ritzy, especially when we share that bottle later with friends and can talk about the trip.
May 22nd, 2009 at 6:25 am
Cheesecake. Although my wife and I are saving as much money as we can, we’ve decided to try all the cheesecake’s that the Cheesecake Factory makes to see which one we like best. In the past year we’ve gotten married (for 1/3 to 1/4 of the average wedding cost), bought a house (at a bargain price), and paid off $32,000 worth of student loans. We don’t have any car payments, and are currently saving $15,000 towards the purchase of a new car.
Since we’ve managed to do so much in the past year, we thought spending a little on cheesecake is a fun splurge. As it happens to be my wife’s favorite dessert, it is a fun challenge to try them all.
May 22nd, 2009 at 6:33 am
Being able to give money - a charity, to help out a friend with a small sum of money when they need it, or buy someone lunch or coffee.
May 22nd, 2009 at 6:34 am
We’ve been saving and scrimping for almost a year now, knocking off debt and we are almost there + have a cushy emergency fund (or the F*U Fund as I like to call it).
And recently I treated myself with a 10 week yoga class. Oh how I’m enjoying all the stretching and the deep-breathing. Especially now that I’m pretty much debt/stress free!!
May 22nd, 2009 at 6:36 am
Traveling; eating good food from the farmer’s market; taking a day off and spending it reading, writing, practicing yoga, or hiking; a massage; knowing we have an EF and that I COULD quit my job and be okay on my husband’s salary, even though we’d have to halt savings; planning our house construction (part of the reason I’m not leaving my annoying cube job just yet).
But I think the ultimate goal is what JD has done–quit the day job. I feel so free when I have a day off, and I actually am super productive on those days, too. I can only imagine what that would feel like if it were every day.
May 22nd, 2009 at 6:42 am
Not wanting stuff.
May 22nd, 2009 at 6:50 am
I really enjoyed reading everyone’s ideas. For me it would be taking time from an always too long list of “TO DO’s” for a leisurely walk along the river with my dogs. Their zest for simple pleasures & obvious joy, along with beautiful natural surroundings, fresh air & light exercise do wonders for my perspective. Another would be taking time to create in my studio, where no phones are allowed, without feeling guilty about it. A trip to my local library or some time spent surfing the net for creative inspiration can give me a very real sense of comfort, well-being, & hope, as well.
May 22nd, 2009 at 6:56 am
My little things would be hot showers and occasional naps. On a grander scale, I spent a summer during high school doing mission work in another country. Every American should spend some time in a poor culture. It changes the way you look at things. A little trip down memory lane is all it takes to remind me that no matter how tough it gets with my husband’s job loss, we are still richer and more pampered than most of the world.
May 22nd, 2009 at 6:57 am
Staying home with my kids makes me feel incredibly rich.
I lost in my job in January (along with 60% of our income, health insurance, 401(k), etc.), but we also lost our sky-high childcare costs and work-related expenses.
Now I’m staying home with our three kids under age 5. Our lifestyle hasn’t changed at all, but I feel richer than ever. Instead of going out to lunch with coworkers, I’m packing a lunch to take to the park with the kids. Instead of budgeting for gas to and from my office, I’m budgeting for gas to and from the zoo. My life is at once fuller, yet simpler.
We have less money, but I feel richer. That’s priceless.
May 22nd, 2009 at 6:57 am
Two tthings that were both brought up by previous posts.
Not having to worry aobut money makes me feel rich. Not that I can buy whatever I want, but that money does not cause a stress in my life.
The second one is giving money away. It’s not a sacrafic to give money away now. I do not feel that I am missing out so that someone else gets my charity. It feels more like I have been blessing with an insight to live within my means, and I would like to help others who could use it more than me.
May 22nd, 2009 at 6:57 am
Listening to a great cd haven’t listened to in awhile, walking the dog or being in nature, making chocolate chip cookies, or waffles on the weekend. One bar of nice smelling soap in the bathroom. Taking care of the things I do have, whether it be organizing clothes, cleaning house (don’t feel rich during the activity but afterwards do!). Rotating some of kid’s toys in and out, so looking at puzzles, seasonal (holiday) books or stuffed animals haven’t looked at in awhile.
Creating something.
Although this isn’t an indulgence, reading about or seeing how people in impoverished countries live makes me feel gratitude for all the things I do have.
May 22nd, 2009 at 7:01 am
I am at a very interesting point in my life. I never have had much money being that I was a college student living on the cheap. I have a wonderful family that has always supported me (in every way possible except financially). I graduated last year and hav been making very good money. I also bought a house and had 2 roomates who paid my mortgage and utilities every month. I have felt rich this past year by being able to help my family. I have bought them new appliances, paid off some debts for them, bought large amounts of food for BBQs on the weekends. One of the posters also mentioned the E-fund. That REALLY has brought security to me - for all of you out there that don’t have an E-fund — you have no idea that amount of piece it brings! Even a couple of months of expenses in a savings account will make you feel so much better.
I don’t spend much AT ALL on food (something like $100 a month max). That is not to say that I don’t eat well — I just get my Sunday paper out and use those coupons to get things on sale (southern savers style).
I especially feel rich when I buy something I REALLY want - and spend 50% or less then what it should have cost (e.g I just bought a used trailblazer to go camping in - a neighbor was selling for $2,000 — I told him I had $500 in the house and he sold it to me. Insurance is only $15 a month).
I LOVE reading all of your posts to this question!
May 22nd, 2009 at 7:02 am
I feel rich because I don’t worry about money. On two levels, I like knowing I can keep my basic spending habits and not really worry about buying a nice shirt or eating out once in a while. I don’t even think about it because I’m confident I’m on track That gives me the instant gratification of wealth.
On a bigger scale, our core living costs are well below our incomes, so each year we get to pick a big item like a new deck, car, paying off a loan etc., that improves our standard of living year over year. That slow increase also makes me feel wealthy because I can see ongoing improvement. This earning/cost differential can also be used to fund emergencies, but although I appreciate not worrying too much about them, I don’t get the same sense of “moving on up” that I do from my improvement projects.
And yes, as other people have mentioned, doing volunteer work and remembering that many people have much less than me also keeps things in perspective and makes me grateful for the security I have.
May 22nd, 2009 at 7:04 am
One think that makes me feel rich is being able to pick up the tab when we go out with friends. We don’t go to fancy places, so it’s never much money, but it makes me feel rich because 10 years ago, I simply could not do that.
May 22nd, 2009 at 7:05 am
Every morning I wake up, it’s the nice feeling of having enough emergency funds, having been trying to get as much as I can from all my passive income sources. This is what makes me feel rich
May 22nd, 2009 at 7:08 am
Treating relatives that have little to no “disposable income” to something they appreciate but would never do themselves (e.g., theater, concert, fine dining). Hosting and attending dinner parties with friends with whom we have a nice rotation going. The richness comes from loved ones really enjoying something together.
May 22nd, 2009 at 7:11 am
What made me feel rich this year? Seeing a letter from a GI in Iraq thanking us for our donations through the USO Care Package program, and seeing the pictures of the conditions our troops endure on our behalf - but are improved by our small donation of $25 toward a care package of comfort items. Yes, there are many other things in my life that make me feel rich because they benefit me, but sometimes it’s the small things that make us feel richest.
May 22nd, 2009 at 7:17 am
My big indulgence is that at the end of each week, whatever money is left over from my weekly personal budget goes into a can. Some weeks it’s a dollar or two, other weeks, when I’ve lucked into free lunches, it’s been as high as $20. This fund is my “fun money”, and I allow myself to spend it on whatever treats I want. Sometimes I buy small goodies here and there, and other times I save up for something big like a new camera.
I find that knowing I can buy something eventually helps me get past the temptation of wanting to buy “immediately” on credit. And paying for something that I know is a pure treat with cash (and without negatively affecting my budget) is such a feeling of luxury!
May 22nd, 2009 at 7:17 am
Riding my bike to work makes me feel rich. My daily rides along the river remind me how lucky and rich I am to be able to choose to ride my bike and earn a good living. It gives me an extra boost when I see gas prices increase a dime per week for the past month! The simple pleasures offer me the greatest rewards and help me feel the richest.
May 22nd, 2009 at 7:18 am
I think back to a year ago at this time. Minimum payments to the credit cards, other credit demons, my car payment and the thought of “where did all my money go.”
My sister (one year older than I) announced last year about this time that she would be retiring in November. That was the kicker that got me started on my path to debt freedom. Although I never had a financial meltdown, I never was very aware of where my money went. I still track my expenditures, but no longer feel guilty when I look at an entry of $25 or $50 for dining out.
Ultimately I feel rich when I go out an buy something and know that there isn’t a credit demon waiting to suck another substantial chunk of change away in interest.
May 22nd, 2009 at 7:19 am
Worshipping God with the church community.
May 22nd, 2009 at 7:19 am
Having a house and car that’s paid off, and an emergency fund; traveling to Hawaii 3-4 times a year to visit relatives/friends, and eating out a lot while there–eating fresh fruit & vegetables while at home–getting my hair professionally cut and colored every couple of months, going on long walks with my dog, living in a great year-round climate in CA, having a loving family, having the time for various creative endeavors that appeal to me, having excellent health, maintaining a goal weight without difficulty, having a daily sense of gratitude, and being out of debt and living within my means to stay there — all make me feel wealthy.
May 22nd, 2009 at 7:22 am
being frugal while I was in university (years back), I managed to pick up a skill known as cooking. As years went on, I began to enjoy cooking and was able to entertain on a budget (it also impressed the ladies). When some people have a gathering at a restaurant, the bills is always $400+ for the group whereas I can cook for an entire group for 10% of that cost.
What makes me feel rich? Knowing I am in zero debt, my finances are in order, I have an emergency fund account, and have picked up skills like cooking and being able to do basic repairs on my own car instead of always paying others for those services.
May 22nd, 2009 at 7:24 am
Having the option to ride or drive to the grocery store, and choosing to ride.
May 22nd, 2009 at 7:26 am
Thwo things make me feel rich:
1. Building things for myself. For example I couldn’t find a desk I liked that was reasonably priced, so I built one for myself. Most cheap furniture is just that: cheap. So building it myself makes it perfect for me and at a low cost. Plus its very satisfying saying “I built that”
2. A beautiful beach 10 minutes from my home. It’s free to go to and rarely crowded even in the summer.
May 22nd, 2009 at 7:28 am
Comparing my lifestyle to those of people in other ages. I can get a year’s worth of salt, pepper, or just about any other spice I want, imported from all over the world, for less than I earn an hour’s labor. I don’t have to do my laundry by scraping my clothing on rocks. My socks are made by machines. I can buy cloth goods so inexpensively, it’s actually cheaper for me to throw my old, stained clothes away and buy things like quilts, rather than saving my old clothing to make them. (I actually do make quilts and rag rugs, but I don’t need to.) Compared to even a wealthy lord of the middle ages, I’m rich.
May 22nd, 2009 at 7:33 am
What makes me feel rich is the fact that my husband and myself generate our own power with solar panels and have not paid for electric or heat in the last 10 years.
Another thing that makes me feel rich is that we grow most our own vegetables in our raised beds. Lots of variety and very good!
I felt rich when we were able to purchase a Neuton electric lawn mower with 4 extra batteries and the Neuton garden cart last year And so far this year we have saved 30 tanks of gas!
May 22nd, 2009 at 7:37 am
I agree with frugalscholar - seeing how others in the world live is really a wake up call and a realization on how wasteful our country is with its resources.
For me, knowing we have two great families to support us, a wonderful wife and son that cracks me up everyday are things that make me feel rich. Also having an emergency fund and being able to save a large portion of our income every month makes me feel secure. Traveling is also a nice benefit to living frugally in other areas. I’d rather spend money on experiences like that than a bunch of useless “stuff”.
May 22nd, 2009 at 7:39 am
Simulating my favorite expensive restaurant + movie experience at home by cooking our favorite dish ourselves with cheap ingredients and wine (but not too cheap), and watching a (purloined) downloaded movie!
May 22nd, 2009 at 7:46 am
I know this is not really what you were getting at, but honestly, what makes me feel rich is driving our 9 year old paid for 200K-mile car and watching our old (non-flat-screen) TV. These things make me feel rich because I know that the money that would be used to upgrade them is sitting in my brokerage account earning money for me. I know that while my peers (the Jonses) are trying to look new and cool, I’ll be retiring long before them. That idea makes me feel rich.
I also second the people that said giving makes them feel rich. Nothing says “I have money to spare” quite like giving it away.
May 22nd, 2009 at 7:53 am
By bringing my luch to work everyday, I am able to splurge on eating out with my kids. Some weeks it is just fast food snack on the way home from dance or cheer practice. Last weekend we went to an independent movie theater’s matinee and saw Star Trek. We only spent what I would have spent in 3 days of eating out at lunch. I enjoy spending that time with my kids more than eating with co-workers that I don’t have a lot in common with.
May 22nd, 2009 at 7:53 am
Buying things does not make me feel rich - it only stresses me out (although I do think that a budget for “fun” is really important).
What DOES make me feel rich is paying for an unexpected $500 car repair without a problem. Transferring a couple hundred dollars every month to my new ING accounts (emergency fund and car fund) makes me feel rich — it takes 3 days to post to the ING account but I keep logging on in between anyway, waiting for the balance to go up!
May 22nd, 2009 at 7:53 am
Just having money in the bank makes me feel rich. One of the greatest feelings I’ve ever had was when I opened my first ING account and actually saw that first interest payment appear like magic at the beginning of the month. That first one was only $0.10 but it was the most significant 10 cents of my life. My first $1,000 in savings was another real confidence booster. At the time I wasn’t making much and I’d never HAD that much money before.
Not spending money on things other people I know do makes me feel rich. Knowing that I could afford whatever it is but choose not to while they are putting it on a credit card gives me a sort of confidence that is hard to explain.
When I do pay out a significant sum of money I love that I’m able to just pay cash. Buying an engagement ring for my girlfriend and telling the guy his pitch about financing wouldn’t be necessary felt good. Even paying my insurance each year in one payment feels good. Later this year I’ll be buying a late model used car and that will be a cash purchase, no loan or financing and I anticipate a good feeling from that as well.
May 22nd, 2009 at 7:55 am
I love to print out and seek coupons for free and cheap things. When I redeem, I feel like I am treating myself, but for little cost. Right now i can’t wait to use the B1G1 coupons for Wendys frosties and DQ Blizzards! My twin sister and I ate for free on our birthday at Red Robin by joining their birthday club! After, we headed to Cold Stone for some free birthday ice cream. I love racking up the giftcards from my credit card points and mypoints.com for eating out and splurges. I work at a university and have particpated in several studies that have earned me giftcards. Right now I have over $100 in giftcards in my purse. I feel like I have so much to spend, and in reality I am spending so little! I FEEL like I can eat out and treat myself to things (rich!).
May 22nd, 2009 at 8:02 am
Get outside. It costs nothing but gas, and the time is priceless, especially if you take the kids. We live in an area of extraordinary natural beauty, and whichever direction you point the Jeep it seems there is always a new road or trail or stream or peak that begs to be explored.
We’re debt free (except for the mortgage) and are raising seven wonderful children on one income. We have to be tight with money. Spending time with kids, who always seem to discover more than I saw, is a great way to enjoy life without spending a dime.
May 22nd, 2009 at 8:06 am
Traveling the world as a family makes us feel rich. We have been doing it since 2006, but often it still feels like a dream to be on a permanent vacation.
I am still amazed that we can live so well on so little & actually live much cheaper by traveling the world, rather than staying at home.
I actually feel richer by having less things & I love seeing how luxuriously we can live on little. I have always enjoyed that.
I feel richer by focusing on experiences, love, relationships & simplicity rather than things or “stuff”.
We splurge by having lunch, coffee, high tea or just visiting and hanging out at wonderfully expensive places.
We sometimes stay at 5 star hotels which are fun splurges ( & we often get upgraded!) although we do it for just a night or two usually. We check in early and leave as late as possible and enjoy the hotel while there with things like room service.
We also splurge by staying at 5 star RV resorts in Europe ( that often include hotels, beaches, indoor and outdoor pools, restaurants etc) usually off season for longer stays at minimal prices ( like 10 bucks a night in June!).
We splurge by making lots of really delicious, high quality, healthy ( mostly vegan) food ourselves.
We splurge by doing fun things like riding camels, sail boat rides, horse riding etc at fantastic prices in countries where it is extremely cheap ( and beautiful) to do.
The list is really endless. What a fun focus!
May 22nd, 2009 at 8:07 am
It’s been mentioned a few times, but I’ll reiterate:
I feel rich because I have made great strides in eliminating my wants. I have started to take great appreciation in the things I have. I may not have the nicest things, but when you take pride in what you have, people notice. Any jerk can go get a loan and buy a new car (well, maybe not anymore) but it takes someone special to actually respect that car and truly appreciate it. When you have that kind of attitude, people respect you, and that makes me feel very rich.
May 22nd, 2009 at 8:07 am
Saving money for future vacations.
I’m still working on paying down debt, but I have a plan to do that without having to pay any interest.
Since I’m on track with my debt plan, I started putting away a good chunk of money from every paycheck for vacations.
I don’t know what vacation it’ll be used for, but it’s a great feeling to know that when the time comes for my next trip, I’ll be able to do it using only cash.
May 22nd, 2009 at 8:11 am
To take the home cleaning responses a little further, we have a cleaning lady that visits our home twice a month. I know it’s a splurge that many people would frown on, but we have a pretty lean budget that we stick to and this is one of the few things that we allow ourselves. After a rough week of work, the feeling of coming home to a clean home after a long week of work (she comes on Fridays) is absolutely awesome.
Having the ability to pay for this is what makes us feel rich. It’s only around 100/month (small house) and it supports a really nice girl who works hard to support her family.
May 22nd, 2009 at 8:13 am
Every morning and every afternoon I drink a cup of gourmet coffee. I buy it from a warehouse store. It is more expensive than the national brands but costs way less than buying it from a coffee shop.
May 22nd, 2009 at 8:16 am
Buying a new book every now and then when I want to read one.
May 22nd, 2009 at 8:18 am
Wine. There’s something about sitting on the couch at the end of the day with my husband, drinking a glass of wine, that makes everything okay.
In Dec, we bought a case of a Texas wine that we LOVE (about $12 a bottle), and every time we drink that, we feel so fancy.
May 22nd, 2009 at 8:20 am
Jamba Juice! I have cut my miscellaneous fun spending budget way down, but I still have 2 or 3 Jamba Juices a month. I love that stuff and it is expensive. I know I could make something very similar at home, but I love going there and seeing all the wonderful, delicious choices and being able to buy one if I want.
May 22nd, 2009 at 8:20 am
First, I love reserving books at the library and then picking them up when they arrive -feels like shopping!
Second, scheduling my mornings (even on some workdays) so that I can lie in bed for five or ten minutes before getting up. I listen to the birds, NPR, pet the hungry kitties, think about my day….not rushing makes me feel rich.
Last but not least - giving. I love doing my taxes each year and seeing that my giving goes up each year. Its only 2% of my income now, but I keep figuring out ways to do a little more, while I also work on debt.
May 22nd, 2009 at 8:21 am
This is a great question! Our tiny budget and my constant desire to travel didn’t seem to mesh well… until our friends and family gave us camping gear. Now we can stay at stunningly beautiful places for less than $20 per night in our spacious tent and our cozy sleeping bags.
Also, when we can’t go camping, there are tons of free and cheap things to do in the summer here in Chicago: the Art Institute has two free nights a week all summer, we just scored free orchestra tickets through my work, and there are super-cheap lawn tickets for concerts at Ravinia (plus the train to get there is cheap!). All those weekend music festivals downtown are “free”, too, if you don’t buy the overpriced food and drinks there.
Finally, enjoying a home-cooked meal with some good discount wine can be just as nice as a restaurant… except nicer, in a lot of ways, because it’s just the two of us, we can serve ourselves seconds, and we don’t have to look at a bill at the end of the meal!
Enjoying art, music, and good food, and visiting new places with my wonderful husband makes me feel rich.
May 22nd, 2009 at 8:21 am
Grilling a nice steak in the backyard, washing it down with a cold Sam Adams lager, and finishing it up with a Rocky Patel after dinner. Not exactly cheap, but cheaper than dining out. Remember: balance.
May 22nd, 2009 at 8:23 am
Having paid off cars makes me feel rich. DH wants to sell mine and get a minivan. I am not going to give up my paid off car!
I love good food too. DH cooks some fabulous, low-cost dishes at home, especially Asian and Central American foods. We have the spices on hand, since we eat a lot of those types of food.
And, I feel rich when I make what could be considered a gourmet treat from unusual ingredients. This week I made some Cushaw Squash Chocolate Chip Nut muffins. Can sound and taste fancy, but it was mostly to use up some squash in the freezer! And my daughter and I made some chive cream cheese, using chives and pretty purple chive flowers from the garden. Making things special lets me feel rich.
May 22nd, 2009 at 8:24 am
I shop at an “upscale” grocery store which is known for being ritzy and expensive. Except they have great clearences, especially on meat, and I’ve gotten to know the butcher who keeps things aside for me and lets me know when specials will be coming up. I’ve gotten filet mignon for 2.99/lb and New York strip for 1.99 among other great finds. Nothing like eating steak once a week to make you feel rich. And being greeted by name by the very nice butcher and then given special packages is kind of fun too!
May 22nd, 2009 at 8:27 am
Richness/happiness has come to be equated with convenience. I know people in third world nations do not have the conveniences the developed nations have….but on the same token they are not controlled by a watch the way developed nations are. They have a richness of life which we tend to dismiss, and a sense of community far greater than many in developed nations will ever experience. The sad thing is most of them are losing this togetherness and sense of community once they assimilate the Western culture of dog eat dog.
May 22nd, 2009 at 8:27 am
Richness/happiness has come to be equated with convenience. I know people in third world nations do not have the conveniences the developed nations have….but on the same token they are not controlled by a watch the way developed nations are. They have a richness of life which we tend to dismiss, and a sense of community far greater than many in developed nations will ever experience. The sad thing is most of them are losing this togetherness and sense of community once they assimilate the Western culture of dog eat dog.
May 22nd, 2009 at 8:31 am
Although I don’t recommend owning a boat as a way to exercise frugality, there’s something about spending a couple hours sailing on the river, pulling into dock and snacking on the tuna sandwiches and soda we packed. It makes me feel like an adventuress.
Our boat isn’t half as big or nice compared to some of the other sailboats in our area, but we probably get twice as much fun out of it. I’m guessing some of these folks spend so much money on their boats, they are afraid of messing it up. Why buy the best if you aren’t going to enjoy it?
Something that doesn’t require a boat - a really good cup of coffee. There’s a local coffee shop that serves sensational lattes and scones. I like them because they are a locally owned shop, not Big, er.. Starbucks.
May 22nd, 2009 at 8:34 am
3-day cruises! They’re usually under $200, and I also have a rewards card I use to pay bills (I pay it off each month) that will discount the cost further, e.g. my last cruise was $83 after cashing in my miles. Since I don’t drink, my additional expenses (gas to the pier, tips, 1 meal in port) are generally under $100 total. Two of these a year make me feel like a high-roller!
May 22nd, 2009 at 8:36 am
For me, it’s buying used books on Amazon.com for just a few cents plus shipping costs. While it’s not free, like using the library would be, it’s still dirt cheap and as fun as Christmas morning to open your mailbox and see a new book.
May 22nd, 2009 at 8:43 am
drinking peaty single malt scotch. i’ll cut my dinner down to ramen before i switch from scotch to bud light.
May 22nd, 2009 at 8:54 am
I am very frugal, but my mental state makes me feel rich every day.
First, I intellectually acknowledge that I AM RICH. Nearly everyone in America is rich by virtue of living here and therefor having way more than 90% of the rest of the world, way more than we need, and more than anyone is entitled to. Even most poor Americans have housing, modern appliances, a car, cell phones, internet. This is not so in most of the world. I try to focus on needs versus wants and how all of my true needs are met.
Second, being frugal makes me feel rich because I love the FREEDOM that comes with having savings and being financially responsible and in control. I don’t worry about the economy or being laid off, because I know I can support myself for long enough if I lose my job and I know that I can withstand the short-term economic wave we are in. I love the freedom of knowing that I stay at my job by choice — again, if I wanted to quit and do something else, I have the savings to support taking time to find a new job. I love the freedom of being able to travel and even take months or a year off to travel (in cheap countries) when I desire. All of this is worth being frugal day-to-day and not blowing money on random things that don’t truly make me as happy as freedom.
May 22nd, 2009 at 8:58 am
My treasured paid for luxuries: a good haircut, theater tickets, hockey tickets, voice lesson, choir dues, sheet music, travel.
Other free/inexpensive things: being able to take a few minutes away during my work day to make cookies with the kids, pick up/drop off the kids from school, family suppers, camping, hiking.
May 22nd, 2009 at 9:09 am
1) Contributing to my 401(k) at work. I just started this maybe two months ago, I bit the bullet and decided on 10%. Soon I adjusted and forgot that I was contributing that much. I love looking at my paystub and seeing that amount go up every week.
2) Investing in quality clothing. I do pay more up front but I’ve stopped wasting money on lots of cheap, poorly-crafted clothes and instead I have just a few really nice, well-fitted pieces. Even though I only have 5 nice tops, I love them and I love how I feel when I wear them.
3) Fun money! My MIL gave me this tip and it has saved my budget! I’m starting a new envelope today to hold bits of my fun money for a new cashmere sweater for fall (summer is the perfect time to buy, you can get them for 50-60% off or more).
May 22nd, 2009 at 9:16 am
Knowing that I can get a Master’s Degree at a reputable private university without going into debt because my spouse and I can live well and easily on a portion of his income.
May 22nd, 2009 at 9:20 am
Having a zoo membership makes me feel wealthy. Spending a week in Florida on my reward miles made me feel wealthy, even though it rained 4 out of 7 days.
May 22nd, 2009 at 9:20 am
Although not formally trained, I’m an excellent cook. I enjoy my own cooking a lot, as do all of my friends and colleagues. Serving and eating a good meal made from quality ingredients helps me feel rich.
Watching my 401(k) savings grow is also very satisfying. I’m very blessed to have employer matching which nearly doubles the amount saved with every paycheck.
And finally, exercising voluntary simplicity in all areas of my life . . . having enough money, stuff and time for things that matter . . . is when I feel the richest. It’s not about deprivation, it’s about having what works for me and not needing the latest convenience item or flashy fad.
May 22nd, 2009 at 9:32 am
I was shopping at Walmart a few weeks ago for some cheap photo frames to hang on our bare walls.
The couple checking out in front of me was trying to buy some cough medicine and other cold remedies for the young lady. Unfortunately, their check bounced and they didn’t have any other form of payment.
I’ve been there before, remembered the pain of not having a reserve for emergencies and decided to pickup their tab. They were surprised and very greatful. Even though I’m not a very wealthy person, I felt good about myself, and I felt wealthy.
May 22nd, 2009 at 9:37 am
For us, I think the ability to make choices and take advantage of opportunity makes me feel rich. Even though we still have debt that we are paying off, we were able to build enough of an emergency fund that my husband was able to take a new job. He’ll be working for a company that he likes, we’re able to move back to Portland, and all without having to worry about transition expenses. It does feel odd though, because I remember when having to pay $200 to rent a trailer would’ve given me a heart attack.
May 22nd, 2009 at 9:38 am
Paying off my debt and building my EF make me feel happy, smart, responsible, and in control. They give me deep satisfaction, but they do not make me feel ‘rich’. I mentioned wine earlier, but also theater tickets (we bought a season subscription at a local theater, and it averaged out to $10 per person per show, about what we’d pay to go to the movies, but so much more satisfying. And it really does make me feel cultured and indulgent to go). Buying produce at the Farmers market rather than at WalMart, a little more expensive but so much tastier. Getting a good craft beer, maybe a dollar more per six pack than Budweiser, but so much better…
May 22nd, 2009 at 9:48 am
Having a job and being in good health makes me feel rich. Because without either one on of these, it could put a dent in our savings.
Looking at the philosophical side of it:
Reading all our comments, I think we have got accustomed to having the feeling of being rich/happy dependent on some other(material) thing. Its like , if I have this- I am rich/happy. I think we need to move away from this kind of thought process and feel rich/happy every moment because our stay here is only for a short while.
May 22nd, 2009 at 9:51 am
I agree that having an emergency fund makes me feel rich (and secure). My husband had a big fall off a ladder the other day so I’m pretty sure we will have a number of ER bills coming our way. I’m not worried though since we have a pretty hefty emergency fund. Others have made comments though like “oh is your emergency fund more than $1000?” Uh, yeah.
May 22nd, 2009 at 10:03 am
I agree with the earlier comments about wine. There is nothing that makes me happier than snuggling up with my husband on the couch, opening up a bottle of wine and talking about our day. We got a subscription to Wine Spectator with my airline miles points and use it as a guide to finding good deals on great tasting wines.
May 22nd, 2009 at 10:04 am
hi.
iknow “with gazell intesity” from Dave Ramsey.
I live in Sweden and ILOVE dave ramseys book”the total money makeover” it have change my life.you dont have to have debt to read his book ,he teaches you so much else.
May 22nd, 2009 at 10:16 am
Wow! There have been some truly amazing comments left in response to this blog post.
I feel rich when I spend time with my family and friends. No matter what we are doing together (though camping is a favorite), being with them is what makes me feel truly happy.
May 22nd, 2009 at 10:20 am
Having retirement accounts and no non-mortgage debt makes me feel wealthy. One of the ways I don’t obsess about frugality is to look at/create a Balance Sheet of our personal finances just once per month. If my spending goes out of whack for a while, I’ll notice it then and can still correct it before it causes serious problems, but I don’t have to think about it daily. Seeing the debt go down and savings go up over the years is really motivating to me to continue my frugal spending habits, while reinforcing the feeling that I’m on the “rich” side of the spectrum.
May 22nd, 2009 at 10:31 am
Playing a Friday night, home-grown dice game with my friends where the prizes for winning are 1 dollar scratcher (gambling) tickets.
Everyone buys a few tickets to donate as prizes for winning an individual game. The whole gaming time takes about 2 to 3 hours depending on luck, number of ties, and number of breaks.
It is fun and though cheap, one gets to dream of winning a grand or two.
May 22nd, 2009 at 10:36 am
An unstructured day or weekend of solitude. I adore my loved ones, but to have a long stretch of peace and quiet at home, with the cat, reading, writing, napping, gardening, cooking a simple meal for myself, having my morning cup of tea on the porch, watching a great movie (from the library) in the evening, then sitting outdoors at dusk…just letting all of that unfold and not having to watch the clock, go anywhere, speak to anyone, or answer the phone is pure bliss.
I also feel extremely satisfied when my life is in order - the bills are paid, house clean, laundry done, work caught up at the office, kids and husband relatively happy, and something creative is in the works.
Where I live makes me feel rich. We are fortunate to be in a quaint town that is walking distance to a new farmer’s market, cute antique shops and boutiques, a tea room, a chocolate cafe, the library, wonderful bakery and coffee shops, a gorgeous park, Wilbur chocolate factory. We can take a 5 minute stroll to Main Street and have a coffee or get some organic fair-trade chocolate.
Our community also has a lot of free events. Second Fridays of the month the shops stay open late, there is outdoor music and other activities, art shows, a chocolate walk, all kinds of things throughout the year. Even if we don’t partake of all these things, having them nearby and seeing lots of positive community activity makes me happy. Even if we had to move to a small apartment to stay here, I would do it. I would gladly sell the house and most of my possessions to stay in this area if it came to that.
And once we’re out of debt, I will be working on having more of those unstructured days at home.
May 22nd, 2009 at 10:52 am
Being able to recognizing and have time to enjoy things that don’t cost money that are more important than laying down cash for whatever.
O.K., if I have to spend money, go to my favourite bookstore and buy a new book price unseen, but first of course, stopping by the library and picking up a copy for free. But now I am allowed to buy two books from my favourite bookstore but only if I stop at the library first. But now ….
May 22nd, 2009 at 11:01 am
I feel rich when my house is clean and clutter free and I have time to sit down in the middle of a weekend afternoon to read a book and sip a sparkling lemonade.
It is simple, but is in keeping with the way I view money. I feel richest when I use my money to buy myself time. I feel more rich when I have time than anything else.
(Also, I usually read the GRS RSS feed and hadn’t seen the new site - looks great! : )
May 22nd, 2009 at 11:09 am
High-quality (600 thread count), freshly-laundered sheets. They are utterly luxurious. But, thanks to Costco, they are not ridiculously expensive. Ours are 6 years old; we paid $70 for each of two sets. That’s $25 a year, or so, for sleeping like a queen every night.
Also, quality appliances that work the way I want them to, when I want them to. Having a toaster oven that doesn’t have to have the door held closed to toast, a washer and dryer that work regardless of what I dump into them, a car that starts when I turn the ignition, a vacuum cleaner that actually sucks up dirt, dust and dog hair, or a sharp, balanced chef’s knife that actually fit my hand are luxuries I haven’t always had. Each time I use one of these frequently-used tools, I feel pampered, even though none of our things are “prestige” items. They’re just carefully chosen and well-made.
Finally, visiting our local library makes me feel rich. All that knowledge at my fingertips, and all free. When I walk through those doors, I feel like the possibilities in my life are endless.
May 22nd, 2009 at 11:19 am
Being able to travel is what keeps me frugal. There is nothing like getting out of the house and into the great outdoors. I love visiting new and exciting places. When I travel I find a great mix between frugality and splurging and have the time of my life.
May 22nd, 2009 at 11:24 am
The taste of the foods I’ve grown myself — they just do taste better, somehow.
May 22nd, 2009 at 11:25 am
Making amazingly good home made pizza. We buy quality products but save a lot by making it ourselves. Over the years of practice we have perfected it. So we still get our favorite food once a week even though we are frugal! Same with my homemade mochas. Found great freshly roasted beans at our Costco and splurge on Dove chocolates! Much cheaper than buying it out but I still get the daily enjoyment!!!
May 22nd, 2009 at 12:00 pm
Being able to use normal airlines rather than budget ones. For the past year I’ve used Lufthansa because of the better connections and because no budget airlines fly from where I’m living at the moment. It isn’t particularly frugal but if I used the other option I not only add a hell of a lot of time and stress getting to the airport but it’s also only about £50 difference both ways.
May 22nd, 2009 at 12:01 pm
After the passing of my husband I didn’t think anything could make me fell as wealthy or as wonderful as he did. He could make me laugh through the worst of times.
We would camp, fish, picnic, or just stay at home and snuggle.
I am blessed to have had him in my life!
Now (8 months ago) I became a first time grandmother…what a absolute thrill!!
I feel so blessed, so wealthy, because we are all healthy.
We get together when we can, and of course grandma spoils the baby.
I can’t afford a lot, but help out when and where I can.
I save, to spend it on little things for the baby.
I even treated mom and dad for a night out so I could have some grandma time with
my grandson.
So for me, I know how precious time is, and time with my family and friends makes
me feel like a millionaire.
May 22nd, 2009 at 12:10 pm
I love my firelog! It adds such a splurge ambiance to my living room, and for $2 it’s often worth it.
Also, my other favorite splurge is a chocolate frosy and a large fry from Wendy’s. Healthy? No. Delicious and cheap? Heck yes.
May 22nd, 2009 at 12:24 pm
Wine. Expensive candles and body wash/moisturizers. Could I be any more girly? I enjoy these things because I know I can afford them because I am living on a budget and saving $ every month.