Meg from World of Wealth wrote this post about “The best investment” talking about a quote from Ben Stein.  He says “the best investment is buying something you want.”  He got this from Milton Friedman, as a comparison that you can’t judge your returns on stocks and investments, but you do know the pleasure you’ll get from buying a new car, shirt, home, etc.

Amen.

Truth is that you can’t take your money with you.  I don’t believe you should go into debt for anything. I also don’t believe that it’s an either or thing.  That you have to scrooge away every penny.  Nor is it about saving to spend more time with your family.  Perhaps that’s buying what you want.

Instead of saving to spend time in early retirement, why not cut back now and spend more time with your family as they grow up?  Some people work part-time instead of full time longer because they want that pleasure.  Or others take lesser paying jobs for that reason too!

My take is you should enjoy your money and saveit.  There is a balance between spending and saving.  Honestly we spent $500 on a calaphon cookware set from our wedding registry.  We had a cheap set inherited from my roommates which was not good quality.  The calaphon set is AMAZING.  It’s still in perfect, mint condition!  I love cooking with it and have to say I cook more because of it.  It brings me amazing pleasure to know that things are cooked evenly and it’s easy to clean. 

Sure that $500 could have been put into my Roth IRA or savings accout and invested.  But would it have brought me as much pleasure as my cookware?  I am guessing no.  I am also going to say that it’s possible I saved more money buy purchasing something I really wanted instead of something cheaper and then buying what I really wanted later.   Also I think this set will last a really long ime, which makes is $/use very cheap!

Another argument would be whether it’s worth purchasing an experience like a vacation or trip somewhere for the experience?  Or taking a cooking class or pottery making instead of saving that money? I think that the money spent is invested, in yourself.  Keeping you mentally sane and happy.

That’s not to say you should go overboard and spend what you don’t have. No way.  But I think that saving every penny will make it only about the money instead of what the purpose of the money is for.