HomeBlog PostsTop 9 Things To Spend Money On So You Can Live a Better Life
Top 9 Things To Spend Money On So You Can Live a Better Life
Posted On June 22, 2021
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Saving greater than 50% of your income is an outstanding achievement. The diligence and discipline should not go unnoticed, but with all that money saved there’s probably a few things you want to spend money on….
A reoccurring theme in the personal finance space ( and commonly among PF bloggers) is that once many people hit their mid to late 30s they become less hyperfocused on increasing their net worth. In turn, they realize that they should enjoy some of their hard-earned money and not obsess about making the digits on the screen increase month and after month.
I’ve even seen some people refer to this as revenge spending.
Why does this “reckoning” occurs in your 30s? Probably due to a handful of factors, an important one being that this is the time many people get married or start a family. Subsequently, they realize their number one priority isn’t money anymore.
That being said, if you are looking to spend a little money, here are 9 things to spend money on in order to live a more full, more comfortable, and happier life.
1. A High-Quality Mattress From Casper
Without a good night’s rest, the rest of your day is shot. Humans spend nearly 1/3rd of their life sleeping or at least attempting to sleep!
Purchasing a high-end mattress has done wonders for me. I had the worst bed for years. I could feel the box spring poking through the non-existent pillow top. I think I bought that mattress off of Craigslist.
Once I finally wisened up and bought a Casper Mattress, my sleep improved dramatically. I could fall asleep in a matter of minutes and woke up every day refreshed.
Eating more nutritional food costs $3 more/per day per person or $1,095 in 2021 (indexed for inflation), according to an article published by Harvard T.H. Chan School of Public Health.
Unfortunately, the unhealthiest foods often have the most calories, the least nutrition, and are the highest in saturated fats, cholesterol, and added sugars.
McDonald’s salad anyone?
Accordingly, the leading cause of death in the United States is heart disease. And one of the leading causes of heart disease is high cholesterol and being overweight, which is often a result of years of poor dieting and exercise.
Which brings me to my next point of top things to spend money on…
4. Fitness Classes
I am a huge proponent of the sound body, sound mind mantra.
So, the statistics point to quite the opposite for those who think fitness classes are a waste of my money.
Fitness classes are one of the best things to spend money on!
Unfortunately, 67% of regular gym memberships go unused. The reason? People need to be coached, and that’s why I recommend group coaching classes such as Peleton, Orange Theory, F45, or even Barry’s Bootcamp.
The monthly membership may be pricey, but the price of extensive medical bills and a shorter life is even more.
5. Quality Clothing
If you purchase high-quality clothes, not only will you look better, but your clothes will also fit better and you will feel more comfortable.
In today’s age of cheap, fast fashion, you really tend to get what you pay for.
Some timeless clothing companies who have not sacrificed quality in seek of profits are:
Polo by Ralph Lauren (Polo Shirts and dress shirts)
Brooks Brothers (Dress shirts, Polos, shorts)
Theory (Going out shirts/sweaters)
Ted Baker (Going out shirts)
Allen Edmonds (Dress shoes and casual loafers)
Sandro (Ready-to-wear latest fashion)
In addition to looking sharp and being comfortable, you are also more likely to be judged as more competent.
A study published in the March 2020 issue of Nature Human Behavior found that people dressed in more expensive clothing were judged as more competent even as participants in the study were told to ignore clothing when judging someone’s competence.
6. A Comfortable Couch
When my wife and I moved into our new apartment, the best decision we made was to spend a little more money on a well-made grey sectional couch from West Elm. This couch is not only very comfortable but gorgeous as well.
Sure, there are endless look-a-likes on all the major retail sites for a fraction of the cost. But while many couches may be just as aesthetically appealing, you are sacrificing a lot of quality and comfort.
Like your mattress, you use your couch every day. It makes sense to have something that can make it through your weekend Netflix binges.
A well-made, stylish, comfortable couch is an important thing to spend money on.
7. Timeless Jewelry
There’s plenty of cheap and stylish costume jewelry and watches available at every major department store. And in most cases, it’s totally acceptable and reasonable to purchase jewelry that doesn’t break the bank.
However, at some point in your life, buying a piece of timeless jewelry such as a watch, ring, or necklace that can be passed down through generations is something worth spending extra money on.
Not only is it a way to pass down your legacy, but a way your family and loved ones can continue on with a physical piece of you.
Furthermore, vacations force you to be outside your comfort zone. And, most importantly, vacations expose you to different cultures that can enrich your life by learning about the historical relevance of your vacation destination.
Lastly, vacations create memories that will last a lifetime.
9. Studio Quality Sound System
There is nothing better than a studio-quality sound system. For years I used a junky portable speaker that sounded very grainy. Once I switched to a high-fidelity speaker like the SONOS Play 5, my listening experience changed forever.
Whether I am cooking, exercising, or socializing with friends, when you hear your favorite song on a vivid, room-filling speaker, it simply changes the entire listening experience.
SONOS is an industry leader in home speakers, bar none.
The Bottom Line
Saving, investing, and living below your means will always be the fundamental tenets of financial success. However, at some point, people realize that squirreling away every penny isn’t sustainable either. It’s just not how they want to live.
The key here is moderation. I’m not saying you should get out and buy a range rover (although I love Range Rovers)
What I am saying is that your money is a tool, not a means to an end. We all work very hard for our money and sometimes we should use it to make ourselves, our family, or our loved ones a little more comfortable or happier. That’s not a bad thing.
After all, we do only live once.
What is important to you and things do you like to spend money on?
Comment below and let the Real World Personal Finance audience know!
Founder and author of realworldpersonalfinance.com [RWPF]. A blog dedicated to personal finance for millennials that want its readers to know they can be perfectly imperfect. Over the past 10 years, his net worth went from -$108,000 to $380,000, mainly through debt reduction, living below his means, and navigating the corporate world. There have been mistakes along the way, and he is still learning too. He's here to offer honest opinions and real insight that's based on his own personal experiences. Current Recommendations:1)Save Major Money By Switching Your Cell Phone Service To Mint Mobile Mint Mobile plans start at $15 a month. I have the unlimited data plan for $30 a month. Major savings compared to any bigbox carrer! 2)Have The Flexibility To Amend Your Life Insurance With Ladder What makes Ladder so special is the ability to increase or decrease your coverage as needed. They call this “Laddering,” and they’re the only ones in the insurance space offering a feature like this. If your circumstances are likely to change, for example, buy a house or start a family, then having the flexibility to amend your policy is a huge plus 3)Become Your Family's COO with Trustworthy Trustworthy makes it easy to organize important family information that’s easily accessible so you and your loved ones can be prepared for whatever may happen. Plus, all your information is protected at all times with bank-level 256-bit encryption.