Running Out of Ideas to Splurge

by David Ning · 12 comments

Lately, I have a hard time figuring out what to spend money on. It’s a strange feeling because my urge to buy something hasn’t gone away yet I can’t think of something to buy when I want to. I know I end up being able to keep my money in my bank account which is great but the urge to buy something is stronger each time that I’m afraid I will end up buying a huge ticket item one day.

I should correct myself. It’s not that I can’t think of something to buy. It’s just that the things I want to buy (LCD TV, car, house) cost so much that it’s outside my splurge comfort zone. I’m really afraid that one day the urge to spend money will be so great that I will just go out and get a new car.

Part of the reason that I’m feeling this way is because I have some money to splurge. Perhaps the stock market isn’t doing the greatest for many, but it’s been decent for me so far this year. The large influx of money every month through all my income streams have also contributed to my want (need) to splurge. To quote a famous movie, “with power comes responsibility”.

I’m beginning to appreciate the advantages of forced savings when someone buys a house. Even if it doesn’t make sense mathematically, the fact that home owners end up needing to be more frugal because they have a higher fixed expense (the mortgage payment) will force them to save more money.

In light of this new discovery, I should create a fixed expense for myself. Something I need to contribute to every month that I can put money in and forget about. 401k and Roth IRAs quickly come to mind but I’m already maxed out on those types of investments. A house is a good one as mentioned earlier but it might not be a good idea since I still feel that the housing market has ways to go before it will bottom, especially in Southern California where I live. Maybe I should look into commercial real estate, or perhaps investing in startups. I don’t know much about these two things, so I’m not sure if I can invest a small amount every month to a startup or something but that’s a place to start.

When I don’t feel rich, I should feel less of an urge to spend money.

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{ read the comments below or add one }

  • Karik says:

    That’s fantastic what splurging to someone else means. Life for me is far from boring and I have everything I need or want so don’t usually feel the need to splurge in my own way. Splurging can mean a generosity of a kind spirit too…

  • fredjohnson says:

    Last summer I splurged by buying a new Jeep Wrangler. Didn’t “need” it because I have another car already. Did it because I wanted a fun convertible for open air summer drives. That’s what splurging means to me. Or this year I rented a house on the beach in the TX Padre Islands for a month. Drove the 1400 miles down there and loved it. That’s splurging. You have to do it occasionally or life will get boring.

  • Karik says:

    I don’t just take things that I buy for myself as a splurge. For instance, I won 2 gorgeous hand made quilts a few years ago. I also won an “on the house” credit at my local pharmacy. Splurges to me can be anything from a discount at the store or finding a treasure in our local thrift store. This keeps me balanced and not so much the need to spend money to feel like I’ve been able to splurge. the rest of the time, I stick to my budget.

  • Mark @ TheLocoMono says:

    Maybe buy some books on REI or rental properties so you can learn what to look for and purchase a property you can rent to create even more income?

  • Aaron Stroud says:

    David, ah, but you don’t know how frugal you need to be. Saving is for the future—the unknown.

    In a few years, you might have a several kids, an expensive medical condition, or simply the desire to start a new career (perhaps something more rewarding, but lower paying).

    For me, being thrifty and investing is more about flexibility and opportunities than simply providing for the things my wife and I want.

    Perhaps I value flexibility more because I moved around a lot growing up?

  • MoneyNing says:

    Stephanie: Actually thanks for correcting me since I’ve been using that word for a while now and I finally realize it was the wrong word 🙂 I will need to think about whether I have the marketing power to create money words 🙂

    Mary: Heh that would be a great idea. Giveaways are cool and this site will continue to have them. Just stay a subscriber and you will be automatically entered.

    Aaron: Thanks for the thought provoking comment. Quite honestly, my main satisfaction is watching my balance rise. It’s been the main driver for me to increase my wealth, save and be frugal through the years. Otherwise, I would never be able to be as frugal as I am now since I don’t really have the actual need to be frugal (it’s not like I have a huge family to support like other people).

    I’ve thought about volunteer work but I’d be over committing my time because of all the other commitments that I have. Thanks for the advices though because I definitely think I need to think about why I have an urge to splurge.

  • Aaron Stroud says:

    Commiting your money to an addition saving or investing contribution is probably a good idea. But you might also want to consider why you have this urge to splurge.

    Maybe you need to busy yourself with a hobby that doesn’t require money or do some volunteer work. If you can find another source of satisfaction apart from watching your balances rise, your need to spend should dissipate.

  • Mary_Freebies says:

    How about buying a blog/site and develop it?
    Or even better, have more giveaways. 😉

  • MoneyNing: Oh. Don’t worry about it – just know that you had me very confused and looking around going “Is this some new and awesome money term I don’t know about?” Maybe you should make it one. 😉

  • MoneyNing says:

    Stephanie: It is splurge. I’m just ignorant and do not know how to spell 🙂

    Future: If you have $5,000, you should invest it right away 🙂 Make it a fix expense so you don’t go waste it on something else.

  • When you figure it out let me know. I’m in a similar situation. I have an extra $5,000 floating around and anticipate receiving a bonus around $10,000 in the next few months and don’t know what to use the money towards. I max out my retirement, my down payment fund is complete, everything else is on track too, so what do I use the money for?

  • What do you mean by “slurge?” Is that a combination of the words “urge” and “splurge?” Sorry, I’m just a little confused.

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