Do you think it's right or wrong to splurge?

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Jerry
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Re: Do you think it's right or wrong to splurge?

Postby Jerry » Wed Apr 10, 2013 11:03 pm

In my opinion unnecessary splurging is wrong. But once in a while you can reward yourself for maintaining a frugal lifestyle and saving money. After all, you may have a better financial situation compared to may of us here! There's nothing wrong in going out for a dinner with your friends and sharing a bottle of wine or buying any exotic products once in a while. You should just remember two things – don't make splurging your habit and always maintain an emergency fund, come what may.
Jerry
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stannius
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Re: Do you think it's right or wrong to splurge?

Postby stannius » Thu Apr 11, 2013 9:10 am

TroyFissan wrote:When it comes to splurging it's really about the vocabulary. A splurge makes it sound "wrong" even if it's just a purchase that's a bit beyond your means.


I'm not sure I quite agree with that definition. I would say a splurge is something that, if done regularly and/or applied to multiple categories, would lead to living beyond your means. But if a splurge in and of itself is beyond your means, that is a poor choice and the answer to the original question would be "yes, it is wrong (or at least a very bad idea)"; a strawman position I don't think anyone is advocating.

alohabear
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Re: Do you think it's right or wrong to splurge?

Postby alohabear » Thu Apr 11, 2013 12:21 pm

Jerry wrote:In my opinion unnecessary splurging is wrong. But once in a while you can reward yourself for maintaining a frugal lifestyle and saving money. After all, you may have a better financial situation compared to may of us here! There's nothing wrong in going out for a dinner with your friends and sharing a bottle of wine or buying any exotic products once in a while. You should just remember two things – don't make splurging your habit and always maintain an emergency fund, come what may.


I'm not sure I completely agree with this. How do you distinguish between "unnecessary" and "necessary" splurging? By definition, isn't all "splurging" unnecessary?"

The way I see it, I always try to spend my money based on what I value and the way I prioritize. For instance, I spend a LOT of money each month on my electric bill. Some could see that as splurging. I grew up in a house that was rarely at a comfortable temperature in any season, so while I know I could be more frugal and turn off the AC, it is important to me to be comfortable in my own house. Yes, I could be more frugal with my energy costs, but this is an area in which I prefer to "splurge."

I think there is nothing wrong with splurging as long as the individual is taking care of the necessities (to include savings and retirement) and the splurging is done in a deliberate, thought-out manner.

LeRainDrop
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Re: Do you think it's right or wrong to splurge?

Postby LeRainDrop » Thu Apr 11, 2013 1:28 pm

alohabear wrote:I think there is nothing wrong with splurging as long as the individual is taking care of the necessities (to include savings and retirement) and the splurging is done in a deliberate, thought-out manner.

I like this response. The key is that you first put yourself in a secure position by taking care of the necessities/savings/retirement, and then a mindful splurge here and there can follow.

kaitlyn142
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Re: Do you think it's right or wrong to splurge?

Postby kaitlyn142 » Thu Apr 11, 2013 8:55 pm

I'm going to say that yes, it's good to splurge as long as it's within reason and affordability. If you never splurge, you might end up in a therapist's office after having a panic attack trying to buy a shirt just because you wanted something nice.

Not that I'd know anything about that, of course.

livingit
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Re: Do you think it's right or wrong to splurge?

Postby livingit » Fri Apr 12, 2013 12:02 pm

Spending a little extra on something special is just fine with me as long as I know that the bills are paid first. My yearly splurge is buying sandals for the summertime.


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