# What are you going to blow your money on?



## Ag Driver (Dec 13, 2012)

I like saving money. I like blowing money even more. Who doesn't?

For me, I tend to allocate a certain percentage of each pay cheque towards various things. Retirement savings is it's own category and this is considered to be "spent money" that is never to be seen again (until retirement). Any other savings are for living expenses and short term goals (aka stuff I blow my money on). I do not impulse buy large ticket items (north of a grand). Heck, I rarely impulse buy at all. Anything north of a grand, I tend to start a savings plan for, work towards that goal, and pay for it in cash. I don't like the idea of borrowing for toys. As of late I have had one category that I can now stroke off. This now "opens up" 5% of my net income. What to blow my money on next?!

I saved up for some additional flight training/professional development. I have now completed these additional ratings and have freed up 5% of my net income. (~$10k)

I have a Travel Fund that is "full" and ready to be blown again (~$3k). This is an on going 5% of my net income. 

I have a Home Improvement Fund (5%). I am getting ready to put in a new driveway this year (~$4.5k). This fund is ongoing. Finishing my basement is next on the list (~$10k).

Last year I had a deal on a motorcycle go through. I am toying with the idea of buying a much more expensive bike (~$9k). With the freed up money from my professional development, I have now re-allocated that additional 5% towards my automotive savings. First, out comes the insurance -- the remaining money left over can be blown. I don't spend money on my self too many times in a year -- so I'm finding it difficult to come up with something I want next.

Just as the title suggests. What are you going to blow some of your savings on? A new car? School? Toy?


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## damaaster (Mar 27, 2015)

Ag Driver said:


> I like saving money. I like blowing money even more. Who doesn't?
> 
> For me, I tend to allocate a certain percentage of each pay cheque towards various things. Retirement savings is it's own category and this is considered to be "spent money" that is never to be seen again (until retirement). Any other savings are for living expenses and short term goals (aka stuff I blow my money on). I do not impulse buy large ticket items (north of a grand). Heck, I rarely impulse buy at all. Anything north of a grand, I tend to start a savings plan for, work towards that goal, and pay for it in cash. I don't like the idea of borrowing for toys. As of late I have had one category that I can now stroke off. This now "opens up" 5% of my net income. What to blow my money on next?!
> 
> ...


Each year I use a portion of my tax return to pay for my next year's Jet's Season Tickets. That is my one big expense each year that I blow my money on...


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## TomB19 (Sep 24, 2015)

I'm going to blow my money on bad investments.


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## none (Jan 15, 2013)

Booze and hookers.


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## twa2w (Mar 5, 2016)

none said:


> Booze and hookers.


I believe the question was 'what are you going to blow your money on' 
;-)


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## Moneytoo (Mar 26, 2014)

Main bathroom renovation. Might turn out to be a better ROI (than our investment portfolio) if/when we sell the house lol


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## gibor365 (Apr 1, 2011)

none said:


> Booze and hookers.


Booze and travel


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## My Own Advisor (Sep 24, 2012)

LOL none.

I was thinking about this on my lunch hour today....

For us:
1. Retirement savings also has it's own bucket. Absolutely do not touch money, until retirement. 
2. Savings are just that, we are saving up for stuff. Can't touch in the short-term, but soon kinda stuff.
3. Cash in account, we can have some fun kinda stuff.
4. Emergency fun. Tap in case of.....

We also don't borrow money for toys or short-term needs. That is what savings are for.

All this said, we're tempted to buy a new(er) car in another year. 0% financing of course. I feel like I want to "treat" myself/ourselves for working hard, saving and investing well. Not sure if that's good, but that's how I feel sometimes.


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## Ponderling (Mar 1, 2013)

We are hopefully about 5 years from early retirement, or less if investment pan out. I have a salaried day job, and so does my wife. We budget every month for setting aside for car insurance, house insurance, property taxes, education - (kids after school and athletic programs) and vacation. This slush fund sits in the active chequing account, and annual payments for these bigger ticket recurring things don't dent the balance too severely. 

Other known capital projects are slotted in to be spent usually mid summer or earlier in the year. This year it was youngest kids braces - we knew the day was coming, and a new clothes washer since the trusty 28yo one just seized its transmission, and a new fridge because the 19yo fridge was icing up too much even after a door gasket kit last year, and running a lot.

There is a list when you live in a 45yo house, you just don't know which pending replacement will spring up next.

Then there is the goal to save cash so the TFSA money goes in in full in early January, and the RRSP mostly in April, with final top up after the tax return comes back, and then our goal of 30K into non registered investments after that by about November.

But sometimes mad money does come our way.
Recently I was gifted a pair of old tube hifi amps. I got them working again without sinking too much in, and discovered they are very valued by audiophiles, which I am not. So the $450 they sold for is taking me and my wife and I out for drinks and away from the teens for a night a month for a few months.


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## Earl (Apr 5, 2016)

I spend a lot of money on ski trips every winter. It's expensive but it's one of my few luxuries.

I'm thinking of upgrading my motorcycle too, what bike are you looking at? I am waiting for the Yamaha FZ-10 to come to Canada, some are saying it'll be available in June.


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## rw0926 (Mar 31, 2016)

I can say what I would blow my money on but that wont be until possibly next year some time. The two things that are my hobbies are collecting comics and technology. Comics and a new Macbook Pro, iPad Pro and iPhone would have been on my list. I even had a plan to buy a few high dollar key Golden or Silver Age comics this year. Unfortunately when you have a spouse who doesn't understand the point of budgeting, saving or assets vs liabilities well things go south fast. We sold out house recently and would have had a $30K profit compared to the house we bought because of the area our house is in. I had planned to zero all debts, increase investments which would have meant that we could start saving more. This would have freed up money for some fun small spending if we followed the hardcore budget I draw up every week. Well that was all a pipe dream because my better half decided that the $30K meant that we could paint, buy new furniture and redo the floors. There goes all my plans since I'm now just trying to keep everything on budget so that we don't blow through the 30K.


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## sags (May 15, 2010)

We don't blow much money on ourselves these days, helping the son out financially and all............, but I like to browse thrift stores like the Goodwill and Salvation Army for odd, unusual, or retro items.

My wife considers it blowing money. I swear if it wasn't for me, she would be living in a place with no furniture and nothing on the walls.


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## Ag Driver (Dec 13, 2012)

Earl said:


> I'm thinking of upgrading my motorcycle too, what bike are you looking at? I am waiting for the Yamaha FZ-10 to come to Canada, some are saying it'll be available in June.


I'm looking at picking up a 2nd hand Yamaha Bolt. I'm more of a cruiser fan. Though I did take a GSXR 600 for a rip once ... those crotch rockets are far too fast for. I was into triple digits and wasn't even out of second gear. I loved it. But even with my clean record, I know I would get a ticket on one. 

The FZ-10 is a nice bike.


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## AltaRed (Jun 8, 2009)

Travel, house upgrades/furnishings, entertainment. Making hay while our health is good enough to enjoy it.


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## GreatLaker (Mar 23, 2014)

A commission based "financial advisor" who will provide endless entertainment with comments like "Do you want low fees or do you want good returns?", "You don't want to be indexing in this market.", "This is a cyclical bull in a secular bear which means it is a stock picker's market.", "On a forward PE basis this market is more over-valued than it has been in 200 years.", etc, etc.


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## nobleea (Oct 11, 2013)

When you say 'blow your money', I think consumering. Depreciating stuff that costs you money rather than be neutral or a wealth grower. Or rather, growing in value is not the primary purpose (in the case of collectibles like antique cars, art, etc).

For us at the moment, that is a swim spa. These are the 18' long hot tubs that have a bunch of jets that you can swim against. All weather pools is another name for them. Great for kids as a pool they can play in all year long as well as a replacement for doing laps at the public pool. Or as a massive party hot tub.

Either way, they're expensive. New 18-40K. There's usually a couple used ones for sale in the province at any given time, and I think I could get a used one for between 9-12K. We have a separate savings account set up for it. Whenever I get a cash back rebate cheque, it goes in there. Any income that was not planned for or expected goes in there. For example, I had 4K budgeted coming to us for tax returns - turns out it was 4400, so the overage goes in there. I budget for 1.5 paid photo sessions a month, if I get more, money goes in there. I have a certain amount budgeted for my bonus this year. If it's higher, it goes in there. If it's lower, then I pull from the savings to keep all other expenses and budgets in line. 
The account's at around 3500 right now. I am hoping we can hit our target in under a year from now. We can also use it as an emergency account until that time, though I can't think of any emergencies that we couldn't cover from cash flow.

I have a 15x25' space (10' ceilings) set aside in the new house for a future home theatre, so that would also be something to save up for in the same fashion. That's at least 5 yrs away though before we start thinking about it.


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## tygrus (Mar 13, 2012)

Most material things give me no pleasure other than my house and my land. My car is just a means of transport. We plan to spend more on experiences and take one vacation every quarter while kids are young. 2 trips inside canada, one to US and one a little longer overseas.


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## none (Jan 15, 2013)

rw0926 said:


> I can say what I would blow my money on but that wont be until possibly next year some time. The two things that are my hobbies are collecting comics and technology. Comics and a new Macbook Pro, iPad Pro and iPhone would have been on my list. I even had a plan to buy a few high dollar key Golden or Silver Age comics this year. Unfortunately when you have a spouse who doesn't understand the point of budgeting, saving or assets vs liabilities well things go south fast. We sold out house recently and would have had a $30K profit compared to the house we bought because of the area our house is in. I had planned to zero all debts, increase investments which would have meant that we could start saving more. This would have freed up money for some fun small spending if we followed the hardcore budget I draw up every week. Well that was all a pipe dream because my better half decided that the $30K meant that we could paint, buy new furniture and redo the floors. There goes all my plans since I'm now just trying to keep everything on budget so that we don't blow through the 30K.


I suggest next time you have a bit of extra money you buy yourself a set of balls.


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## Moneytoo (Mar 26, 2014)

none said:


> I suggest next time you have a bit of extra money you buy yourself a set of balls.


So he can get divorced and blow money on booze and hookers with you? lol


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## GalacticPineapple (Feb 28, 2013)

Ag Driver said:


> What are you going to blow some of your savings on?


Going to earn all of my income independently from home starting in 2017. This will put my savings at risk as it's exponentially riskier than a desk job.


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## none (Jan 15, 2013)

Moneytoo said:


> So he can get divorced and blow money on booze and hookers with you? lol


Alternatively, he could buy cake and pie and join you in the two tonner club. Either or.. both are pretty fun.


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## RCB (Jan 11, 2014)

Past "blow" has been a hot tub, gazebo and patio. We're moving to the Superior lakeshore and taking the hot tub. Gazebo and patio...well I guess they'll increase value a bit if we ever sell, or make it a bit easier to rent.

Future blow will be travel. For my husband it's a rather expensive golf simulator for the winter months.


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## Eder (Feb 16, 2011)

A bunch of these for the sailboat this summer.


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## mrPPincer (Nov 21, 2011)

none said:


> Alternatively, he could buy cake and pie and join you in the two tonner club. Either or.. both are pretty fun.
> Last edited by none; Today at 06:34 PM. Reason: Figured Moneytoo probably ate a lot of pie as well.


none, with all due respect, I would suggest you get out of your mother's basement, get off the doritos & xbox, and get a job ya friggin misogynistic *-****


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## none (Jan 15, 2013)

mrPPincer said:


> ....ya friggin misogynistic *-****


link? I don't see how pointing out that someone is morbidly obese has anything to do with the gender. Unless you think that all women are fat which would then be kind of misogynistic so... there's that.....


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## Moneytoo (Mar 26, 2014)

none said:


> I don't see how reminding someone that they are morbidly obese has anything to do with the gender.


Oh I thought you meant a two tonner yacht club - as I've been trying to buy my husband one for a few years now, but he prefers sailing with his friends for free lol 

But anyways, so far booze is obviously winning, so I'll keep having my cake - and yeah, eating it, too (never understood what's the point of having it if you're not gonna eat it? And with so much excersize I've been getting lately - I might be able to join a too toned club soon lol)


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## mrPPincer (Nov 21, 2011)

No luxury items here, a new roof, steel, would be top of the list for me, but might just go cheap and do some patchwork once again with foam sealant and tar, I'm ridiculously lazy.


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## none (Jan 15, 2013)

Moneytoo said:


> Oh I thought you meant a two tonner yacht club - as I've been trying to buy my husband one for a few years now, but he prefers sailing with his friends for free lol
> 
> But anyways, so far booze is obviously winning, so I'll keep having my cake - and yeah, eating it, too (never understood what's the point of having it if you're not gonna eat it? And with so much excersize I've been getting lately - I might be able to join a too toned club soon lol)


It's bc the actual phrase is to eat your cake (and pie) and have it too.


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## Moneytoo (Mar 26, 2014)

none said:


> It's bc the actual phrase is to eat your cake (and pie) and have it too.


And this way it actually makes sense: http://www.urbandictionary.com/define.php?term=you+can't+have+your+cake+and+eat+it+too (are you still on a diet? As my friend likes to tease others, envy is a bad emotion )


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## lonewolf (Jun 12, 2012)

I try to never to blow money I always try to stretch my dollars & get the most out of them with in reason. I have made a lot of mistakes though


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## DollaWine (Aug 4, 2015)

I've been telling myself I'll buy a nice pair of nice running/basketball shoes since last summer after a looooong summer of working and saving. Still hasn't happened. Everytime I'm in the store, I end up asking myself "do I really need these?" and leave empty handed. Has happened at least 5 times, lol.

When I pay off my OSAP debt next year (about 23k left), I'll splurge on a nice dinner and go on a road trip to an Eagles game! Die-hard fan but never been to an NFL game before.


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## heyjude (May 16, 2009)

Travel, for the experience. Currently on a 5 week trip involving planes, trains, automobiles and boats. And 7 countries.


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## rw0926 (Mar 31, 2016)

none said:


> I suggest next time you have a bit of extra money you buy yourself a set of balls.


This does not sound like the words of a married man lol. I choose my battles wisely I'd rather spend $30K on upgrades to a house that atleast will increase the value when we sell. Than argue about it have her buy a bunch of things out of anger and still spend the $30K anyway lol. It's a calculated move on my part.


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## amack081 (Jun 23, 2015)

I'm curious as to whether people have savings accounts for each of their "funds"...
I personally have savings accounts (one for trips and one rainy day).


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## heyjude (May 16, 2009)

amack081 said:


> I'm curious as to whether people have savings accounts for each of their "funds"...
> I personally have savings accounts (one for trips and one rainy day).


I don't have separate accounts for any discretionary expenses. Instead, I budget annually and do detailed expense accounting monthly. My expense spreadsheet is set up to calculate the YTD variance to budget. So, for example, if I budget $10,000 for travel for the year, and at the end of September I have a positive variance of $3000, I feel quite justified in booking another trip.


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## hboy43 (May 10, 2009)

Hi:

The irony is that now that I have a fair amount of it, money does surprisingly little for me. That of course partly explains why I invest atypically, I just don't care if it gets wiped out.

People whose dreams are to fly to some place warm and sit on a beach drinking for 2 weeks, you are in luck. Or more high falutin, touring European art galleries and architecture. Or buy a motorcycle or, or ... Money is pretty much a sufficient condition to achieve goals of this type.

Unfortunately for me, my hopes and dreams do not lie in this sphere. Money is a necessary condition (not necessarily all that much, but some), but not sufficient. It is a freedom problem. Sure, at the end of the day I could do it, but it would mean a large abdication of responsibility to various people: wife, daughter, grandson, parents, in-laws and a number of quasi-family. Webb Chiles is a famous sailor (well as famous as sailors can be, which is not much), currently in New Zealand or thereabouts on his 24 foot sailboat, having left the USA 1 or 2 years ago. He has gone around a number of times on a number of boats, and at age 72 (IIRC) he is out there again. He is on wife number 7. Coincidence? I think not.

Doing what truly interests me, or being responsible seem mutually exclusive. Even a compromise of sticking to Canadian waters during summer months is problematic for my wife will neither allow a solo, nor will she put in the effort to be accreditive to the project in terms of actually becoming a competent sailor and not fearful any time it gets a bit dicey. Not seeing the grandson for 3 or 4 months is not on either.

I am working on "happiness is wanting what you have, not having what you want." It is hard.

hboy43


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## 1980z28 (Mar 4, 2010)

hboy43 said:


> The irony is that now that I have a fair amount of it, money does surprisingly little for me. That of course partly explains why I invest atypically, I just don't care if it gets wiped out.
> 
> 
> hboy43


Funny you say,I also a a fair amount of loss before it will matter to me,must be the age thing

My money pit is audio(2 channel) I have maybe 80k invested,I do like to purchase vinyl now holding over 3k pieces and not uncommon to spend 200 plus for rare vinyl,I really enjoy good music as retirement gets closer ,I am collect

I also like hi power older cars and hope to build a couple when retirement happens(1969 C-10 step side bigblock 4X4,4 speed with 4 inch lift and 33X12.50tires


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## DollaWine (Aug 4, 2015)

amack081 said:


> I'm curious as to whether people have savings accounts for each of their "funds"...
> I personally have savings accounts (one for trips and one rainy day).


I definitely do... Emergency savings (still working on it), tax savings (self-employed), general savings, and savings for a home. Then another TFSA just for investing, and an RRSP for investing.


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## Ag Driver (Dec 13, 2012)

amack081 said:


> I'm curious as to whether people have savings accounts for each of their "funds"...
> I personally have savings accounts (one for trips and one rainy day).


I have separate savings accounts for each fund. I tweak them every year. 

Chequing @ 35% - (Hydro, water, gas, entertainment, restaurants, fuel, minor car maintenance, etc. Pretty well most of my variable spending)
Automotive @ 15% - (Insurance, Major Repairs, Excess towards replacement vehicle)
Benefits @ 5% - (Hair cuts, Gym memberships, Gyms shoes, Dental, 
Mortgage @ 35% - (Mortgage, Taxes, Home Insurance)
Travel @ 5% - (Vacations!)
Home Improvements @5% - (Driveway, Shed Build, Basement)
Savings @ 10% - (Straight to the brokerage account for retirement)

I have two accounts that lay dormant from previous saving goals. My variable spending was coping well at a 25% allocation, so I'm thinking of moving towards savings for the next goal. It's pretty much a digital version of the money jar budget technique. I don't budget on a daily, or monthly basis. I just chop my cheques up each pay day, and watch the spending.


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## Eclectic12 (Oct 20, 2010)

Ag Driver said:


> I like saving money. I like blowing money even more. Who doesn't? ...
> Just as the title suggests. What are you going to blow some of your savings on? A new car? School? Toy?


I guess it depends on your criteria ... my co-workers who love hitting the sunny beaches in the Caribbean or Mexico in the dead of winter consider my Habitat for Humanity trips to build a house then explore the country a bit as "blowing" the money while they consider they vacation "essential".

I like being able to help others out, seeing how they live and having a cheap vacation while getting a charitable donation slip. (IMO, it is pretty cheap to only have to pay for the extra few days with everything else showing up on the donation slip).

I probably spend more than I need to on tablets/computers but I tell myself it is building skills for the job.
I do also spend on cameras but I can go ten years or more between purchases.


The main "blowing" would be restaurant outings, including booze.


Cheers


*PS*

Of course all of this is after what the RRSP contribution is made. Then too, the last two cars were kept for ten and sixteen years respectively.


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## Eclectic12 (Oct 20, 2010)

Moneytoo said:


> Oh I thought you meant a two tonner yacht club - as I've been trying to buy my husband one for a few years now, but he prefers sailing with his friends for free lol


IMO, my relative in LA has a sweet deal. Twelve hundred a year to belong to the sailing, after which the only expense is gas to get in/out of harbour. He sets his own schedule so he usually goes during the week when just about all the boats are easily available, compared to the rush of weekends.

He also likes to tinker so he goes down on Tuesdays where the morning is spent fixing whatever needs attention, followed by whomever decides to sail to a restaurant for lunch then back.

I think they are up to thirty plus sailboats at this point.


One year, through contacts made through club - he was invited to help sail a custom built boat to it's home berth in LA from New Zealand. 


Cheers


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## Eclectic12 (Oct 20, 2010)

amack081 said:


> I'm curious as to whether people have savings accounts for each of their "funds"...
> I personally have savings accounts (one for trips and one rainy day).


When first starting out ... yes as this would ensure I stuck to the plan. Now that employment + investment income exceeds my needs - I have cut back on the number of accounts.


Cheers


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## donna9 (Apr 9, 2016)

just more saving for me. Not much of a person that has much fun.


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## olivaw (Nov 21, 2010)

Last year I blew money on a new motorcycle. This year I will blow money on maintenance, tires and trips.


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