For those of you who think that being responsible with your money is akin to embarking on a lifelong saving spree, think again. Ramit Sethi, author of New York Times bestseller I Will Teach You To Be Rich, shares his thoughts about spending, saving, and what it's like to be the money guy with SavvySugar.
A couple of friends and I were talking about where we want to travel this year, and one of them said something that surprised me. "You probably wouldn't approve, but I want to go to the Caribbean this year." Huh? Why wouldn't I approve? I thought about this in a pensive stare for many moments, taking the form of Rodin's Thinking Man and wishing that I had a pipe and perhaps a tweed jacket. Apparently, I'm the personal-finance guy to some people, who just talks about automating your finances, earning more money, and asset allocation. On top of that, I realized with a sinking feeling, "the personal-finance guy" means "the guy who tells me what I can't spend on."
Nothing could be further from the truth. Today, I present three friends who spend loads of money on things you might consider frivolous – like shoes and going out – but they're perfectly justified and perfect examples of what we should all be doing. Keep reading for my study and analysis.
To read about Ramit's friends (including the one who spends $5,000 per year on shoes!) read the entire post at SavvySugar. Click here.
Tell us in the comments: What sort of expenditures do you think are frivolous?