Last month, we asked: What expensive things are worth it?
In that post, I mentioned that with these kinds of questions, it’s all relative. What’s worth it to me may not be your bag. And so today I’d love to know: What expensive things are not worth it to you.
I actually find this question much easier to answer! Over the years, I’ve gotten pretty clear at knowing what I want to spend my money on. That makes it easier to know where to invest and where to save.
A few months ago, we ran a Home Economics from a young woman who earns more than $500,000 a year. She doesn’t come from money, and it was interesting to hear her talk about how she’s trying to learn what she likes to spend money on. Sure, it’s an enviable position to have that much disposable income, but I’d argue it’s a good exercise regardless of how much money you make. Knowing what expenses aren’t worth it to you can help you cut back in those areas, freeing up money for other things.
Here’s my list of expensive things that are not worth it (to me):
- Expensive gym membership (I might feel differently if I lived close to a fancy gym!) and name-brand workout gear (I’ve been wearing the same Nike sweatshirt for nearly 17 years!)
- Brand-new tech (Give me a refurbished iPhone, and I’m perfectly happy.)
- Brunch (It’s never that good!!)
- Five-star hotels (I used to get to stay at the Ritz Carlton when I worked at Fortune and we hosted conferences. I always felt like I was nickel-and-dimed at every turn! No desire to spend my own money on the experience.)
- Cosmetic anti-aging treatments (Nearly two years after I wrote this piece, I still haven’t gotten Botox. And I was traumatized after reading Jenn Romolini’s recent piece on CO2 laser treatments in Gloria. I think I’m just resigned to save my money and embrace my wrinkles.)
- A big house (Sure, our two-bedroom feels a little tight sometimes, but our low mortgage payments provide us with so much freedom.)
What’s on your list? Drop it below in the comments!
