7 Things You Will Never Regret Spending Money On (2024)

I think a lot of people equate being a minimalist to being frugal. While this may be the case for some people (after all, there is no one size fits all rule for minimalism), my own personal brand of minimalism is less about not spending and more about intentional spending.

For example, I may have kicked my mindless shopping habit, but I am not afraid to spend money on things that bring me joy or add value to my life. After all, minimalism is not about sitting in an empty house, counting your possessions and your pennies; it’s about finding time and money to do more of what you love.

Here are seven things I never regret spending money on; let me know in the comments if you agree or if not, what is on your list?!

7 Things You Will Never Regret Spending Money On (1)

GOOD QUALITY FOOD

For me, food is one of the great joys in life. There is nothing I love more than a truly amazing meal (be it eating the best noodles in the world on the streets of Chiang Mai or dining at Mamasan in Bali – hands down one of my favourite restaurants in the world.)

It’s about quality over quantity, whether you’re eating out or cooking at home. In my kitchen, I have a simple eating philosophy, which means I splurge on grass-fed beef or Tasmanian cheese (drool) but I forgo freezer meals or prepackaged snacks. (And if you can support small, local businesses at the same time, it’s a huge bonus!)

SERVICES THAT IMPROVE YOUR QUALITY OF LIFE

When you spend money on services, you are buying time (the one thing everyone says you can’t buy!). I don’t believe you have to ‘DIY’ everything; if you really hate housework, hire a cleaner. If you’re not getting results at the gym, hire a personal trainer. If you desperately need some time to yourself, hire a nanny.

I know that services are sometimes expensive, but it’s about looking at your values and prioritising your spending. You might be surprised at what you can afford.

QUALITY ITEMS THAT SERVE A PURPOSE

Comfortable shoes that you wear season after season. A handcrafted kitchen knife made to last. A leather tote you’ve been using since university (for me, that’s a long time now!).

I’m talking about well made, quality items that serve a distinct purpose in your life. I had a pair of denim Levis shorts that I lived in for twelve years and they only just fell apart. I mourned them (boo hoo) but it was also incredibly satisfying to actually wear something out and then replace them (and actually, I’m still holding out for the perfect pair).

In today’s disposable society, there is something deeply gratifying about knowing you’ve made a good, quality purchase!

LEARNING NEW THINGS

I love learning new things (it’s one of my core values and if I’m not learning, I’m not happy). While everyone’s values are different, I truly believe that investing in learning is investing in yourself.

I’ve done online courses (where I learned tons about blogging), adult education courses (I learned to sew and paint), and I’ve done single day programs (like learning traditional weaving in Guatemala!).

I’ve also spent money on books, travel, and conferences; all experiences that have helped expand my mind. When I learn new things, it’s not always about the skills I learn (although of course, they help), but it’s also about how I feel about myself. Learning makes me feel confident and proud of myself, something that money can’t buy.

A HOBBY THAT BRINGS YOU JOY

My husband is a ‘natural minimalist’; he had no problem moving to Australia with nothing more than a backpack and even after living here for several years has hardly any possession.

… Except he has a record collection. And he loves it. When we aren’t travelling, he’s always playing records, cleaning his records, reading about records or even just staring at his records. (He may kill me for sharing that, but it’s true!) It’s clear that his records bring him a lot of joy.

I may tease him, but I’ve never once looked at his collection and thought it was a waste of money because I see the smile it puts on his face.

TRAVEL + UNIQUE EXPERIENCES

If you’re a regular reader (or even if you’ve just had a quick look around) it’s probably pretty clear to you that travel is a huge priority in my life.

Travel is a great teacher; you learn about the world and also a lot about yourself. It’s also incredibly fun – and this leads to wonderful memories that, as time passes, only further enrich your life (unlike many material purchases, which weight us down with time).

Taking this one step further, when I’m travelling I always try and find room in my budget for special experiences, like hot air ballooning in Turkey (mind-blowing) or more recently trekking in Northern Thailand. Spending a little extra on quality operators can take your trip to a whole new level!

GIFTS + CHARITY

Last but certainly not least, I never regret being generous. Once I learned to give without expectation of anything in return, I found the true joy in giving.

I’m not a big holiday person, but I love to surprise friends and family just because I’m thinking of them or when they are not expecting it. (It’s easier to give meaningful gifts this way, because instead of feeling last-minute pressure to just ‘find something’, I buy things when I come across them.)

I also believe that giving to charity is important. Even when I’m travelling, I always make sure I’m donating on a monthly basis (after all, if I can afford to travel then surely I can afford to support a worthwhile cause).

Imagine what would happen if everyone helped out, even in a small way? Money donated to charity always feels like money well spent to me.

(I currently support the UNHCR Refugee Agency and World Vision, but everyone has their own causes, choose what speaks to your heart.)

What are your thoughts? What do you never regret spending money on? Let me know in the comments! x

7 Things You Will Never Regret Spending Money On (2024)

FAQs

7 Things You Will Never Regret Spending Money On? ›

Equipment and tools for my hobbies

Whether it's a camera to shoot more professional photos or a set of paint colors and canvas for my painting or a musical instrument, investing in equipment and tools is always worth it. Taking your hobbies to the next level is an amazing thing to do.

What do you not regret spending money on? ›

Equipment and tools for my hobbies

Whether it's a camera to shoot more professional photos or a set of paint colors and canvas for my painting or a musical instrument, investing in equipment and tools is always worth it. Taking your hobbies to the next level is an amazing thing to do.

What three things would you never spend your money on? ›

Here are 7 things that smart people never spend their money on.
  • Late fees. Smart people absolutely refuse to throw their hard earned money away. ...
  • Paper products. ...
  • Brand new car. ...
  • Services they can do themselves. ...
  • Snack size convenience foods. ...
  • Full price clothing and accessories. ...
  • Unsatisfactory tax preparation.

How do I train myself to stop spending money? ›

Here are some ideas to help you stop spending money and build healthier financial habits:
  1. Create a Budget. ...
  2. Visualize What You're Saving For.
  3. Always Shop with a List. ...
  4. Nix the Brand Names. ...
  5. Master Meal Prep.
  6. Consider Cash for In-store Shopping. ...
  7. Remove Temptation.
  8. Hit “Pause"
Jul 10, 2024

What's your biggest financial regret? ›

Looking back at their lives, 24% of U.S. adults surveyed said not saving enough for the future is their biggest financial regret. That means roughly one in four of us has been caught up in the moment with vacations, splurges and other short-term spending.

What most money is wasted on? ›

20 Things People Waste the Most Money on
  • Impulse Buying. Impulse buying is among the leading things people waste the most money on. ...
  • Unused Memberships and Subscriptions. ...
  • Bank Fees. ...
  • Late Fees. ...
  • Credit Card Interest. ...
  • Extended Warranties. ...
  • New Cars. ...
  • Premium Gas.
Apr 26, 2024

What is the most important thing to spend money on? ›

The precious things are investments in education and personal development by taking courses or reading books, and items of good quality, like mattresses or shoes, really make a difference in everyday life. It would be smart to spend money on things like trips, good food, and long-term memories.

What is the safest thing to have your money in? ›

Here are the best low-risk investments in July 2024:
  • High-yield savings accounts.
  • Money market funds.
  • Short-term certificates of deposit.
  • Series I savings bonds.
  • Treasury bills, notes, bonds and TIPS.
  • Corporate bonds.
  • Dividend-paying stocks.
  • Preferred stocks.
Jul 15, 2024

What can I avoid to save money? ›

Here are seven money-saving barriers — plus advice on how to knock each of them down.
  • Spending too much on housing. ...
  • No defined budget. ...
  • The “I'll save when I make more money” mindset. ...
  • Lack of a measurable savings goal. ...
  • Student loan payments. ...
  • Your comfort zone. ...
  • Overusing credit cards.

What is the 50 30 20 rule? ›

The 50/30/20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should be split between savings and debt repayment (20%) and everything else that you might want (30%).

What do you call a person who spends too much money? ›

Answer. The word closest in meaning to what you want is spendthrift. Spendthrift is a noun that means "a person who spends money in a careless or wasteful way."

How can I trick myself into spending less money? ›

'Avoid the 1-click option 100% of the time': 5 ways to trick yourself into saving money
  1. Automate your savings. ...
  2. Think of purchases in hours worked, not dollars spent. ...
  3. Do your spending with cash. ...
  4. Do a spending cleanse. ...
  5. Wait 24 hours before making big purchases.
Apr 20, 2023

How do you discipline yourself to not spend money? ›

Research shows that certain strategies can help build up self-control around spending and saving money:
  1. Make one financial decision at a time. ...
  2. Track your spending. ...
  3. Save automatically. ...
  4. Avoid temptation. ...
  5. Ask for support.

How to live without spending money? ›

How to live off the grid with no money
  1. Do a work exchange. If you're new to the off-grid life, a great way to start is through Worldpackers. ...
  2. Join an off-grid community. ...
  3. Find low-cost or free land. ...
  4. Construct a cabin or tiny house. ...
  5. Grow your own food. ...
  6. Fish responsibly. ...
  7. Forage for edible plants. ...
  8. Collect and filter water.

How can I spend money without regret? ›

How to spend money guilt-free
  1. Step 1: Figure out what is making you feel guilty and take care of it. ...
  2. Step 2: Know where your money is going. ...
  3. Step 3: Be ok spending money on things you enjoy. ...
  4. Step 4: Make room to spend on the things you care about. ...
  5. Step 5: Plan to hit your goals.
Oct 30, 2021

Why you should never regret anything? ›

With less time spent focused on regrets, you'll finally have time to focus on the more essential things in life. In any situation, you grow more as a person with every decision you make. Life is full of lessons to learn, so we can't let regret stop us from moving forward.

What is it called when you regret spending money? ›

Just about everyone. Buyer's remorse (or buyer's regret) defined is “the sense of regret after having made a purchase.

What is the shame around spending money? ›

Feelings associated with money

You might feel guilty for spending money, even if you know you can afford it. Or, you might feel guilty for seeking support, even if you know you need it. You might be afraid of looking at your bank balance or speaking to the bank. You might feel ashamed for needing support.

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