Hellobee Boards

Login/Register

How do you prioritize spending?

  1. MamaMoose

    GOLD / squash / 13464 posts

    @Arden: I think that if you talk about your spending, then you open yourself up to opinions. I'll be 100% honest with you, your spending habits that you've mentioned on here have certainly raised my eyebrows. Two examples I can think of are that you have mentioned having no money to buy a couch to sit on, and no money to afford counseling when you were dealing with some pretty heavy anxiety. For me, it doesn't seem responsible to spend $25/week on designer clothes for your daughter, and deny yourself medical care that it seemed like you were in pretty desperate need of. And are you saving for your future? I personally wouldn't include "fun" money in my budget until I was at a point where I was maxing out my ability to at least contribute to a retirement fund.

    That being said, it's YOUR money, and you get to choose what to do with it. But if you don't want opinions on your budgeting, I wouldn't talk about it.

  2. deerylou

    pomegranate / 3003 posts

    Everyone prioritizes differently. What strikes one individual as frivolous spending may be important to another. Personally, we tend to live simply, (especially since I currently stay home, and we survive off my husband's moderate income), and value an ability to save for our futures (emergency fund, education, retirement). For me personally, shelling out for designer duds and pricey toys, especially for an infant or young child, is not especially worth it. Professional photography is wonderful, but not in our budget to enjoy on the regular, unless we skimp on putting money away for the future. Our daughter does admittedly have a nice wardrobe and some expensive gear, but she benefits from gently used items from a wonderful, close friend (with a very high household income), and surprises from a doting grandmother. Otherwise, we're all about consignment, super sales, or learning to be happy without.

    However, there is something to be said for finding happiness, in the moment. Sometimes, that requires "unnecessary" spending. We have a membership to the local baby gymboree, have started shopping for a swim school, and recently attended a classical concert, for kids. When we eat out, we like to support local businesses, and enjoy a more farm-to-table experience. This tends to cost more than a quick jaunt to Applebees, so we budget for it, appropriately. We buy local, wholesome ingredients, as we cook at home, almost exclusively. I also gravitate towards "green" body and household products. All of this may seem silly to another family but again - priorities and lifestyles vary.

    In the end, you can always spend or save your money in more thoughtful, intelligent ways. I try to keep our financial matters close to home, as I feel you tend to open yourself up to side eyes and criticism when you choose to be vocal about money.

  3. mrs. wagon

    blogger / watermelon / 14218 posts

    I try not to comment on money posts, but here's my two cents (hehe)

    every family is different, everyone's priorities are different. Everyone's priorities are very near and dear to them, so if yours do not exactly align with theirs, they will always have something to criticize.

    Don't live beyond your means and you will be fine.

  4. pinkcupcake

    cantaloupe / 6751 posts

    @Arden: Based on some of the other comments, I went back and read some of your older posts, and I am going to revise my previous comment.

    $25 / week doesn't sound like a lot until you look at what it's being spent in lieu of. Is there money being put into a college savings account? Are you putting money into a retirement account for you & your SO? Do you have an emergency cushion you can depend on in case anything happened? I personally would not spend 10% of my income on anything fun *if* all those other more important, necessary matters were not being fully and completely funded.

    From your other posts, it sounded like your family was struggling financially quite a bit and were on government assistance. If that's the case, then yes, I personally *DO* think it's frivolous to spend on designer clothing for a baby or professional photographs. I feel like people should be 100% self-reliant (and be able to remain so, which means making sure you have enough saved up in case an emergency or catastrophe hits) *before* spending money on luxury goods.

    I'm going to agree w/ @MamaMoose: (I feel like lately I've been concurring w/everything you write!) and say ultimately, it's your money, do as you will, and if you don't want people to comment on your spending habits, don't talk about it.

  5. Arden

    honeydew / 7589 posts

    Thanks everyone. I do want to clarify something - up until around the time Vi was born, we were struggling a lot more than we are now. We were on SNAP while I was pregnant and we could afford NO extras.
    Since that time, he got a higher paying job and we are no longer on any assistance, haven't been for over a year. I would never be buying frivolous things if that were the case.

    Yes, we are putting money into savings. Not a lot, but more than is budgeted to personal money.

    I guess perhaps we might be leaning towards spoiling her and we need to step back and take a look at it together before she gets older. Thanks for your input, everyone.

  6. HLK208

    pineapple / 12234 posts

    @Arden: I'll be the odd one out and say...you're still allowed to live even if you're on a tight budget! $25 a week, for second hand brand name clothes isn't horrible. You could resell them if they stay in good shape, which is likely since they are high quality. And you know what...we made a third of what we make now when B was one, we paid through the nose for family photos and yeah, we had to do without to pay for them but it was so worth it. We'll never have that time back with him and coming down the stairs in my house now and looking at some of our photos, makes my day. Especially now that he's going into kindergarten next year. No, our savings wasn't ideal back then but it took sometime to get there.

    It's your life, your money and it's about what makes you happy. As long as you (in general) continue to strive to be better then I don't see a problem at all.

  7. Greentea

    pomelo / 5678 posts

    I think spoiling has more to do with treatment than material things.

    I personally think quality food is extremely important. I also think this is so personal, there isn't a right or wrong. Whatever you value and what works for you.

    We have a small income but I prioritize buying quality things. I have never been sorry.

  8. MrsH

    honeydew / 7667 posts

    We prioritize saving and putting money away for retirement. We also live well below our means. After that we pay our bills and spend money frugally. I worked hard for my money I'm going to work hard to spend it too.

    We've never been criticized unless you count my in laws making comments about what we do have.

  9. Arden

    honeydew / 7589 posts

    @HLK208: Thank you.

  10. Greentea

    pomelo / 5678 posts

    @Smurfette: perfectly stated!

Reply

You must login / Register to post

© copyright 2011-2014 Hellobee