How to spend more money

Google TLzg36
Jul 13 46 Comments

I've been working at M$ and now Google for a little bit. Always been scared of lifestyle-creep and so I live the same way now at age 30 as I did at 20 in college. I live with a roommate, drive a used car, totally love Ramen Black, etc. My TC is ~330k, but next year it should bump up by another 100k after some job negotiations. I live on about 60k a year and invest the rest. Got about 1.3mil saved. Always felt lucky to have a job I love - I'd probably be messing with programming even if they didn't pay me so much.

My friends joke about my frugality, but I always aim to be far more generous to others than I am to myself (I always try to pay group tabs and such). I don't really want/need anything, but I also avoid luxuries so that I don't want for more.

Anyway I feel like I'm pretty risk averse, but I'm not trying to die rich either. Suppose I made a budget to actively try to spend little more on myself, what are some things that would make my life better?

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TOP 46 Comments
  • E*Trade / Finance cbEV72
    Marry. This will solve spending problem
    Jul 13 3
  • Microsoft du316
    Boring people who constantly brag are still around. Go give it to charity.
    Jul 13 1
    • Google TLzg36
      OP
      Ha there's tons of those people here on TB.

      I do want to spend more on charity and giving, but (separately) I'm trying to brainstorm ways to spend a bit more on myself. I guess I was hoping to tap into those showy TB folks to tell me the one life-changing thing they figured out. Velvet toilet seats or avacado toast or tailored t-shirts... I don't know how you people live.
      Jul 13
  • Delphix / Eng Qeou08
    it sounds like you are pretty content with spending less. Not sure of the need for change

    I guess one thing you could start investing in is your body or mind. Buy more books, buy a gym membership if you dont go. Buy healthier food.
    Jul 13 1
    • Google TLzg36
      OP
      Well I'm only sort of content with spending less.

      Idk if y'all play video games, but I'm the guy that gets to the end having saved all the rocket launchers and coolest stuff thinking I'd need it later. Then I look back realizing I missed half the fun of the game. I guess I never want to feel that way about life.

      So I'm thinking about setting aside some money for a 'fun' budget. Force myself to splurge on a few nice things or some interesting experiences each year. I'm looking for advice on what those things should be.
      Jul 13
  • Twitter YUAk61
    That's really gunna depend on who you are. For me, I'm into music. One decision I made related to that is that I'll own nice instruments. I bought a 10k piano, a 5k violin, 2.5k guitar, and a few other mid-grade instruments to tinker with.

    All in all, it's not that significant a chunk out of my 400k TC over the 3-4 years I purchased them, and most of them will at least retain value over the years if not appreciate.

    Just make sure whatever it is it's for *you* and not for image. For a few out there, they really *really* are into cars and in that case it may be worth it to splurge there. For most of us, (as you sense I think) blowing money on a nice looking (or fast, classic, whatever) car is just a meaningless way to show off status and wealth
    Jul 13 0
  • Blue Origin / Eng maverix
    Share with me. 😘 jk.

    But seriously, I’ve found travel to be the most eye opening. Try all: touristy areas but also remote areas and third word countries. Experience the different world cultures: chill life in South America, history in Europe, expansion of Asia, barrenness of Africa, etc. I wish I could travel but don’t have deep enough pockets.

    Give back. LeBron James is super rich but he funds kids to go to college one at a time. If you really don’t need all your money and just want to experience other joys that life offers, help others. There are many people who are barely surviving due to financial hardships.

    Learn new skills/experiences. You don’t have to self learn, money helps the world go round. Try new experiences and learn new life skills. Some include skydiving, private pilot, glass blowing, sailing, diving, etc. Be creative and see adventures. Don’t stop bc our life is too short to really experience what the world has to offer.

    If you’ve already done all of this, maybe give back and create these opportunities for your close friends/family who aren’t as rich as you. Sometimes you’ll find this makes your life better bc you practice selflessness. It’s a very different feeling that only you can feel internally.

    Good luck. I hope to be as wealthy as you one day. I have a lot I’d want to do with money. 🙄
    Jul 13 0
  • Stitch Fix / Product kDcT62
    Maybe find a hobby or something new to learn? Like surfing, playing an instrument, etc. Definitely costs money for equipment and instruction, but is super cool and adds value to your life.

    Or just enjoy saving, there's nothing wrong with being frugal if that floats your boat.
    Jul 13 0
  • GrubHub grubman
    There’s a book called Happy Money that’s a meta-research study of this exact topic. I can’t recommend it enough. Some highlights that stuck with me: choose experiences over possessions; money spent on others produces more happiness than money spent on yourself; don’t delay living.
    Jul 13 1
    • Google TLzg36
      OP
      Thanks! This sounds legit useful - I'll check it out.
      Jul 13
  • CarGurus YgOH71
    I am not certain what your passions are but if I assume you are an engineer or coder, and it’s your passion, you could always go bigger than just donating to charity.

    If you have time and money you could start your own charity like a summer Bootcamp in 2-3 cities for inner city kids.

    Especially in cities that struggle with public education - Atlanta, Detroit, Chicago.

    This way you create something from scratch, put your name on it, and for all you know it could turn into more than a side project, but your next career.

    But also, it’s your money, so you could also just keep on this track, retire at 40, and go live where ever you want.
    Jul 13 0
  • Apple / Eng 🐒codemonk
    Are you exactly age 30? 1.3 million saving is good. BTW $5000 spending per month isn’t really poverty lifestyle
    Jul 13 4
    • Google TLzg36
      OP
      Exactly 30. My Mint account says spending of ~3k/mo, and I'm totally comfortable. I go out to restaurants and bars, I take vacations. It's a normal lifestyle - I just never really adjusted anything up as I started making more money.
      Jul 13
    • Apple / Eng 🐒codemonk
      The saving skill is impressive. You need to save at least 150k per year to reach 1.3 mil assuming you started working at 22. I bet investment in the index fund did somewhat contribute
      Jul 14
    • Google TLzg36
      OP
      http://imgur.com/PXpKmUK

      Here's a chart from a few years back if that interests you.
      Jul 14
    • Apple / Eng 🐒codemonk
      Thanks! Very detailed but elegant looking
      Jul 14
  • IBM olkh
    Is M$ Morgan Stanley?
    Jul 13 2
    • GrubHub grubman
      Microsoft
      Jul 13
    • New / Eng
      blehhzhau

      New Eng

      PRE
      Morgan Stanley
      blehhzhaumore
      Morgan Stanley doesn't give $$$
      Jul 13
  • Amazon Waze
    I'd say travel a bit more. Your time is your most valuable asset, so if you have the money, spend on things that save you time so you can spend that time on more important things.

    Also consider taking a sabbatical and taking a few months off to relax and do whatever you always wanted to do.
    Jul 13 0
  • Symantec k7dc8ir
    Charity, social causes
    Jul 13 0
  • Facebook public2
    Travel, partying, higher risk investments.
    Jul 13 0
  • New / Eng
    zJtI54

    New Eng

    PRE
    Deloitte
    BIO
    Started a VC funded Quantum/AI startup, now looking for the next thing!
    zJtI54more
    Be a micro-VC, there are programs like First Round Capital (not affiliated) that help mid-end career people to start becoming investors by mentoring/investing other startups. You mentioned you wanted to invest in yourself a bit, I find helping others to solve a problem you care about allows you to meet amazing people and learn from their mistakes and experiences.
    Jul 13 2
    • F5 Networks RRA
      I tried this. This will definitely help you lose money.
      Jul 13
    • Amazon Waze
      @RRA can you elaborate on your experience? I am interested in trying that, but not sure how to asses the risk / reward benefit.
      Jul 13
  • Microsoft stink
    Spend on hookers
    Jul 13 1
  • Apple gbio14
    if u are happy why do you need to spend more? u can be different and just be someone who needs less (frugality can be relative). if u can't think of stuff that would make ur life better maybe there isn't anything else you need.
    Jul 13 1
    • Google / Eng hffc
      This. You are lucky to be content with less. Don't destroy that. Just be how you are. If anything invest in growing and learning.
      Jul 13
  • Microsoft msafet
    Live the American dream: expensive house, expensive cars, and most importantly: expensive kids.
    Jul 13 1
    • Blue Origin / Eng maverix
      You forgot expensive partner 😘
      Jul 13
  • Microsoft uhuhu
    Find a hobby and invest a specific amount next year and force yourself to do it. For example - if you like baseball - commit 10k to travel to different games/stadiums, music - concerts, skiing —. Ski resorts, etc. tons of fun and an experience - not some more fancy car or wasteful thing
    Jul 13 0
  • New / Eng _arbitrage
    Unsubtle flex
    Jul 13 0
  • Microsoft $€£¥
    Girls
    Jul 13 3
    • Amazon Waze
      Wrong answer. If you do this, one day you will have neither money nor girls.
      Jul 13
    • Microsoft $€£¥
      Question is how to spend more money isn't it?
      Jul 13
    • Microsoft stink
      +1
      Or men - depending on LGBT status and the sex of the OP
      Jul 13