Non frugal vice

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Thetightfist
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Non frugal vice

Post by Thetightfist »

I have read about the frugalness of my fellow bogleheads, but I am curious as to your one non frugal vice! Also any buying advice where going cheap is NOT a good value?

My non frugal vice is a good cigar.

Something not to go cheap on............tires and Saran wrap.
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NAVigator
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Post by NAVigator »

My non-frugal vice is my hobby - ham radio.

Something not to be cheap with - coffee.

Jerry
"I was born with nothing and I have most of it left."
exigent
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Post by exigent »

Good booze and beach vacations. Granted, we do the latter as cheap as possible (drive down, eat in, etc.) but we like to stay in a decent place right on the beach.
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White Coat Investor
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Re: Non frugal vice

Post by White Coat Investor »

Thetightfist wrote: Also any buying advice where going cheap is NOT a good value?
Outdoor gear. Buy nice or buy twice.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
jeff1949
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Post by jeff1949 »

We bought an expensive fully automatic expresso machine at Costco that makes super delicious coffee and expresso. Push one button and it grinds, tamps and injects perfectly heated water through the system and into your cup. It dumps the grounds out and is then ready to go again. Did I say it just takes one touch of a button? :D

Hey, at least we save a lot of trips to Starbucks that way but the machine IS quite expensive.
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9Iron
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Post by 9Iron »

Golf.. I play every Sunday. However, we are fortunate to have many good courses at reasonable rates in South Florida.
Keim
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Post by Keim »

2: Music (live and recorded) and 76 Monte Carlo.
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norookie
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Post by norookie »

:D Im sure most here have them. Logistically IMO, if its a significant life issue, your lucky your a BH/ OR Saver to afford such extravagance. Or 2. :oops: Like no ones paying/loaning/lending you for your retirement is a fact jack! :oops:
" Wealth usually leads to excess " Cicero 55 b.c
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Opponent Process
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Post by Opponent Process »

California
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mt
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Post by mt »

Floating rivers in Alaska. But I almost always use miles to get a free ticket up there.
xerty24
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Post by xerty24 »

Does travel count as a vice?
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tetractys
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Post by tetractys »

There's no way around the cost of the best musical instruments; but they're a great inflation hedge, and more of a virtue than a vice IMO. -- Tet
RESISTANCE IS FRUITFUL
epilnk
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Post by epilnk »

I don't cheap out on shoes (support and comfort, not fashion or prestige) or eyeglasses.
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jidina80
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Post by jidina80 »

I don't consider it a 'vice' at all, but I pay more than my fair share when with friends.

Most of my friends are younger and money is more valuable to them. I often quite willingly pay for things we do together. They often offer me money, and sometimes I accept. I have found that giving is much more rewarding than receiving, if you can afford it.

Just.
campy2010
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Post by campy2010 »

Road bikes (and all the stuff that goes with them). Cycling can be an expensive hobby but at least my bikes get thousands of miles annually, are a great way to spend time with friends and keep me healthy. At least that is what I tell myself to justify the cost.
sport
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Post by sport »

Don't try to save money when selecting a dentist. In the long run, poor dental work will cost more than good dental work done right the first time. My dentist is very expensive and worth every penny.

Jeff
scubadiver
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Post by scubadiver »

Scuba diving and related gear. I've spent more on gear than I did on my first two cars combined.
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stemikger
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Post by stemikger »

My annual Disney vacation. Since my daughter was 4 (she is sixteen now), I have never missed our annual 10 day Disney vacation.

It is my version of heaven. I know it is odd for a 46 year old grown man to be in love with Disney world, but I have since I was a kid and it never faded.

We always stay on Disney property and get the meal plan. Most people don't know, but the restaurants in EPCOT are just as good as where I live in New York City.

My other non-frugal advice is ordering out or going to a restaurant every Saturday night.
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Thetightfist
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Post by Thetightfist »

Travel counts, I have that too. Shoes are a good one, pay now or pay later
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stemikger
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Post by stemikger »

Posted by jidina80
Most of my friends are younger and money is more valuable to them. I often quite willingly pay for things we do together. They often offer me money, and sometimes I accept. I have found that giving is much more rewarding than receiving, if you can afford it.
That's nice. As long as you don't meet people who take advantage. However, it sounds like you are a smart cookie.

It is like giving back in a way. Most younger people are broke because they are just starting out.

I kind of do that with my daughter and her friends. Our house is where all the girls seem to want to hang out and whenever they have sleep overs I tell them to order from any restaurant they like. Most parents don't do that. In fact this weekend that just passed, I spent $200 on Japanese food. Ouch.

I feel safe when my daughter is home, so it is a small price to pay.
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stemikger
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Post by stemikger »

Posted by the Tightfist
Shoes are a good one, pay now or pay later
Not sure I agree with this one. I have been buying my shoes at Payless for well over 10 years and never had an ounce of problems with my feet.

However a DSW just opened near my house and my wife is trying to talk me into going there instead.
Posted by JSi11Don't try to save money when selecting a dentist. In the long run, poor dental work will cost more than good dental work done right the first time. My dentist is very expensive and worth every penny.
This is definitely not true in my case. I go to a dental clinic that works with union people (i.e. cops, fireman, etc.) and they are very inexpensive, but my dentist is great. My daughter even got her braces there and they did an amazing job.

Her braces cost $2,500 as opposed to $5,000 to $7,000 which is what all the other ortho guys were telling us.

Years ago Readers Digest did a story about the different prices dentists charge and they had a guy go to 12 different dentist and got quotes for $1,500 to $16,000 for the same work. Before they sent him out Readers Digest had a dentist go over everything in would need and said it should not cost more than $1,200. I never forgot this story.
Also, before going to my current dentist, I had a very expensive guy that really didn’t do that right thing and after every procedure I always had trouble, especially root canal, he just wasn’t very good at it and he was very high priced.
Exuberent
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Non Frugal Vice

Post by Exuberent »

Race Horses - my wife and I moved to France several years ago and I started helping out at the yard of Gina Rarick, the only American woman licensed to train thoroughbreds in France. Since then I have bought ownership / leased interest in several race horses trained by Mme. Rarick. Statistically not the road to riches but what fun. Still shedding weight in quest to become the "exercise rider of last resort" for the stable.
travelnut11
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Post by travelnut11 »

Regular massages and the occasional trip to the spa for more exotic treatments.

And, of course, lots of travel. Though usually on the cheap.
Travel is fatal to prejudice, bigotry and narrowmindedness ...and many of our people need it solely on these accounts. - Mark Twain | | Life is either a daring adventure or it is nothing. - Helen Keller
Beantown85
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Post by Beantown85 »

Travel is my biggest not-needed expenditure, although I do try and scour for good deals. If I can't find a great deal, I go anyway. You can't take it with you.
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HomerJ
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Post by HomerJ »

Theatre tickets (Broadway musicals I mean, not movies).

We don't go often, but if we do, we don't go frugal. We get the good seats.
nimo956
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Post by nimo956 »

While I have toned it down recently, I usually pay a premium for high-end camera equipment. Lenses range from $1k-$2k. While digital bodies are released every few months, the lenses hold their value (or even appreciate) remarkably well, as new models/updates tend to be released every decade or so.
Chin Strap
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Post by Chin Strap »

rrosenkoetter wrote:Theatre tickets (Broadway musicals I mean, not movies).

We don't go often, but if we do, we don't go frugal. We get the good seats.
Ditto. I did the whole student rush thing in grad school, but I got so sick of partially obstructed views or back row nosebleeds. Now it is orchestra or bust. But, like you, it is a rare treat.
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midareff
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Post by midareff »

International Tours to Europe, Asia and Africa. Photographic gear... good glass is expensive. Coffee, tea from China and Thailand, hi-end stereo gear....
mptfan
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Post by mptfan »

Time spent on the Bogleheads' forum.
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simplesimon
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Post by simplesimon »

I'm a steak snob. If I'm going to pay for steak, I'm buying prime grade if I can.

Food in general. It doesn't have to be fine dining (except for steak most of the time) but I eat out a lot because my cooking sucks.

Clothes and shoes.
partisan
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Post by partisan »

For me it's skiing, even the local hill has become expensive in the last few years.

Even though it's an expensive hobby my cheapness still survives, when in Utah (now an annual pilgrimage) I will stay in downtown SLC and take the bus to the slopes, take pbj for lunch, pack my own liquor etc. I figure any money saved on extras is an extra lift pass or two.
Leesbro63
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Post by Leesbro63 »

Lexus LS460 All Wheel Drive
rjg001
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Post by rjg001 »

campy2010 wrote:Road bikes (and all the stuff that goes with them). Cycling can be an expensive hobby but at least my bikes get thousands of miles annually, are a great way to spend time with friends and keep me healthy. At least that is what I tell myself to justify the cost.
This one for me two, although how crazy I am depends on who you talk to. Non-cyclists think $2,500 for a bike is nuts. Serious cyclists know how easy it is to spend double or triple that if you really want to. So maybe I really am frugal. :wink:

Travel is another - we vacation every year and like nice hotels/resorts. We never go completely overboard, but we aren't cheap about it.

My car. I like having a nice car and am willing to spend more than the cost of basic transportation to have one. Again, I don't go completely nuts - my lease payment is less than $600/month and well within my means. But not frugal by any means either.
new2bogle
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Post by new2bogle »

Vacations and food.
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Ted Valentine
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Post by Ted Valentine »

My children
Although our intellect always longs for clarity and certainty, our nature often finds uncertainty fascinating.
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SamGamgee
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Post by SamGamgee »

trying new things.
mfen
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Post by mfen »

Frugal - not confusing quality with branding. Most things I buy are high quality I am just not a sucker for brands and excesses (such as no trim upgrades in a car). Buy quality on sale.

Vice - new cars, don't want a used car.
my Club - pay way too much for those luncheons.
Maryanne
NYCPete
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Post by NYCPete »

Anything in the kitchen, whether it be food or appliances/cookware.

The most recent purchase was a $500 Vita-Mix blender. Though, I don't think this purchase was a vice, because the Vita-Mix Has made me a firm believer that 99% of blender brands are absolute junk. They overheat, are hard to clean, and aren't strong enough to do simple things like crush ice and puree vegetables.

Best,
Peter
To the extent that a fool knows his foolishness, | He may be deemed wise | A fool who considers himself wise | Is indeed a fool. | | Buddha
Default User BR
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Post by Default User BR »

Live sporting events. I go to 20-25 hockey games per year (a friend has season tickets, so I pay that price) and 5 football games (splitting two season tickets with three other guys).



Brian
Stonebr
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Post by Stonebr »

Birding binoculars. German. Zeiss.
"have more than thou showest, | speak less than thou knowest" -- The Fool in King Lear
phositadc
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Post by phositadc »

NYCPete wrote:Anything in the kitchen, whether it be food or appliances/cookware.

The most recent purchase was a $500 Vita-Mix blender. Though, I don't think this purchase was a vice, because the Vita-Mix Has made me a firm believer that 99% of blender brands are absolute junk. They overheat, are hard to clean, and aren't strong enough to do simple things like crush ice and puree vegetables.

Best,
Peter
+1 on the Vita-Mix. Another home appliance I have not regretted buying is a Dyson vacuum cleaner. Would get another one if this one broke (well, as long as it lasts at least 5-6 years before it breaks).
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mmmodem
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Post by mmmodem »

NYCPete wrote: The most recent purchase was a $500 Vita-Mix blender. Though, I don't think this purchase was a vice, because the Vita-Mix Has made me a firm believer that 99% of blender brands are absolute junk. They overheat, are hard to clean, and aren't strong enough to do simple things like crush ice and puree vegetables.
Yikes, I just saw this thing being demonstrated at Costco. I turned to my wife and said, "Who in their right mind would spend half a grand on a blender?" Guess I got my answer there. I went over to Target later and purchased a $20 blender to replace our broken 2 year old $25 blender. Two years for $20 sounds good enough for me. I only use it to make smoothies. I don't need to crush ice.

My vice is electronics. Bought an Ipod Touch and a laptop last year. Will probably buy a new TV this year.
Atilla
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Post by Atilla »

What the wife and I drive, and where we stay on our Vegas trips aren't exactly frugal - but worth every penny.
Call_Me_Op
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Post by Call_Me_Op »

NAVigator wrote:My non-frugal vice is my hobby - ham radio.

Something not to be cheap with - coffee.

Jerry
I'm also a ham.

73's
Best regards, -Op | | "In the middle of difficulty lies opportunity." Einstein
supersharpie
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Post by supersharpie »

Concerts...lots and lots of concerts!
SDBoggled
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Post by SDBoggled »

Food... I was just thinking today that - different from a few years ago... I don't worry at all about price of groceries... I like value but can now "afford" to pay for stuff where we see the value: Whole Foods salmon, Whole Foods peeled and sliced fresh fruit, Fage greek yoghurt, local bakery breads.

Much cheaper to splurge on food than cars: we have 98,99, 2001 cars.
word
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Post by word »

electronics - two laptops last year, two ipads, a camera, two cell phones

this year will be more reasonable - one laptop, that should be it for the most part
fishndoc
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Post by fishndoc »

Bamboo fly rods, and fly fishing gear in general.

A buddy once observed that fly fishing is more addictive than cocaine, and can be twice as expensive.
" Successful investing involves doing just a few things right, and avoiding serious mistakes." - J. Bogle
Dandy
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Post by Dandy »

Family vacations - best bonding and memories for all
Medical Care - always want to be able to go out of network to get best Docs.
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Christine_NM
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Post by Christine_NM »

I buy fresh cut flowers for the house a couple of times a week, and started a season ticket at the Santa Fe Opera.

This year I will add an expensive CPA to do my taxes -- I don't feel obliged to do it myself since the IRS is no longer mailing out forms.

If I wanted to be really extravagant I'd have the flowers delivered.
18% cash 44% stock 38% bond. Retired, w/d rate 2.5%
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