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Message
I've decided that after years of saying "I have no hobby," I actually do
Posted on 5/4/15 at 9:20 am
Posted on 5/4/15 at 9:20 am
My hobby is compound interest.
My wife and I had dinner with friends that we haven't seen in a couple years this weekend. They drove up in a fairly new loaded truck, he got out wearing Costa sunglasses.
During the dinner conversation, he was telling me about his hunting camp that he joined, that he just bought a new ATV after buying a new golf cart a few months before; "I regret not buiding a 3 car garage" in the new house he built just a couple years ago (the third house he had lived in in two years). His wife was bitching because her Acura lease was about to end, and she wanted a Lexus SUV because of her two kids in private school and her husband said it was too much.
I got to thinking how much money was being spent on toys and stuff in the name of hobbies. I have several friends that do the hunting camp thing, and I had no idea it was so expensive.
My wife and I had dinner with friends that we haven't seen in a couple years this weekend. They drove up in a fairly new loaded truck, he got out wearing Costa sunglasses.
During the dinner conversation, he was telling me about his hunting camp that he joined, that he just bought a new ATV after buying a new golf cart a few months before; "I regret not buiding a 3 car garage" in the new house he built just a couple years ago (the third house he had lived in in two years). His wife was bitching because her Acura lease was about to end, and she wanted a Lexus SUV because of her two kids in private school and her husband said it was too much.
I got to thinking how much money was being spent on toys and stuff in the name of hobbies. I have several friends that do the hunting camp thing, and I had no idea it was so expensive.
15
Posted on 5/4/15 at 9:23 am to anc
Dude, I love going compound interest on the weekends!
Posted on 5/4/15 at 9:33 am to anc
What you just described was not a hobby but a lifestyle
Posted on 5/4/15 at 9:36 am to HailToTheChiz
quote:
What you just described was not a hobby but a lifestyle
I know that, but talk to people that do this kind of stuff - they call it a hobby.
"I like to hunt." - Hobby.
"I need new guns/bows."
"I'm joining a hunting club."
"I need an ATV to fit in with the other guys."
"I need a better truck to haul the ATV."
"I need to take a moose expedition to Canada."
Thousands of dollars being justified by a hobby.
Posted on 5/4/15 at 9:44 am to anc
There are a lot of hobbies that don't cost thousands of dollars...
Posted on 5/4/15 at 9:47 am to anc
If he can afford to do it and it makes him happy then what's the issue?
Obviously if he inst contributing to his retirement or is in a ton of debt for this hobby, then it is concerning.
Obviously if he inst contributing to his retirement or is in a ton of debt for this hobby, then it is concerning.
Posted on 5/4/15 at 9:49 am to anc
My wife is a workaholic and we never go on vacation. She grew up mega poor so she's constantly finding things on the side of the road and fixing them/selling or giving them to tenants. It's good to save/invest but it's also good to live. Her day off is Monday and she entertains herself by cleaning or building something.
A guy at my office never goes out to eat or to a movie. We are talking years. He's constantly calling his financial adviser from work and has no interests that I know of other than watching sports on TV.
Another person I know is a member of two golf clubs, has a sports car, and a new SUV. Yet is constantly scraping for money living paycheck to paycheck. I know because he owes me money.
Again, many ways to live a life. Somewhere in the middle is good IMO.
A guy at my office never goes out to eat or to a movie. We are talking years. He's constantly calling his financial adviser from work and has no interests that I know of other than watching sports on TV.
Another person I know is a member of two golf clubs, has a sports car, and a new SUV. Yet is constantly scraping for money living paycheck to paycheck. I know because he owes me money.
Again, many ways to live a life. Somewhere in the middle is good IMO.
Posted on 5/4/15 at 9:52 am to dagrippa
I spend about $1,500/year on Mardi Gras dues and beads, dress for my wife for our Ball and Hotel Stay for the weekend. Most of its paid up well before Mardi Gras. I figure a little more than $100/month for a fun weekend where the wife gets to gussy up in formalwear and I get to get drunk and throw beads is fine as far as hobbies go.
Posted on 5/4/15 at 9:58 am to Delacroix
quote:
If he can afford to do it and it makes him happy then what's the issue?
Obviously if he inst contributing to his retirement or is in a ton of debt for this hobby, then it is concerning.
Its his money and he can do what he wants to do. I was just commenting on justifying expensive hobbies in lieu of savings/retirement. This guy wouldn't know what a mutual fund was if it bit him on the arse.
Posted on 5/4/15 at 10:02 am to dagrippa
quote:
A guy at my office never goes out to eat or to a movie. We are talking years. He's constantly calling his financial adviser from work and has no interests that I know of other than watching sports on TV.
This is me.
quote:
Again, many ways to live a life. Somewhere in the middle is good IMO.
I believe in relative frugality.
Frugal to some means ramen noodles and beans and clipping coupons. Frugal to me means buying high end steaks from the butcher and cooking them myself for a fourth of what it costs at a restaurant.
Frugal to some means driving a beater that barely gets you to work. I drive a 2007 Volvo sedan that gets 32 MPG and has 70k miles on it. I'll drive it until it has 200k.
Posted on 5/4/15 at 10:02 am to anc
this is just another issues of balance
your friend seems to be enjoying his life and using his money now, while he can enjoy it
some people hoard all of their money their entire lives for a later day and then never get to enjoy it
its all about balance
your friend seems to be enjoying his life and using his money now, while he can enjoy it
some people hoard all of their money their entire lives for a later day and then never get to enjoy it
its all about balance
Posted on 5/4/15 at 10:03 am to anc
So conspicuous consumption is their lifestyle...what's it to you? They like to spend money, and they obviously like to talk about the things they buy. If you don't like their lifestyle & conversation, then why hang out with them?
Hobbies do not equal ridiculous spending--I equate hobbies with manual or craft activities, like painting or woodworking or baking or crochet/knitting. The most accomplished hobbyists I know are not conspicuous consumers: they're people who devote hours to a craft.
Hobbies do not equal ridiculous spending--I equate hobbies with manual or craft activities, like painting or woodworking or baking or crochet/knitting. The most accomplished hobbyists I know are not conspicuous consumers: they're people who devote hours to a craft.
Posted on 5/4/15 at 10:03 am to anc
I've got a friend that is a full member of 2 elite country clubs. He has played 12 holes of golf this year- and that was at Torrey Pines.
I play almost daily and spend less than 100 a month on golf.
I guess it is nice to "belong" to the "right" club, but if you don't ever play it seems kind of odd to me.
I play almost daily and spend less than 100 a month on golf.
I guess it is nice to "belong" to the "right" club, but if you don't ever play it seems kind of odd to me.
Posted on 5/4/15 at 10:07 am to hungryone
quote:
Hobbies do not equal ridiculous spending--I equate hobbies with manual or craft activities, like painting or woodworking or baking or crochet/knitting. The most accomplished hobbyists I know are not conspicuous consumers: they're people who devote hours to a craft.
But this is not what's happening. This guy is not trying to keep up with the Jones'- he's trying to be the Jones.
And it means nothing to me. I just don't have any hobbies like that. I like to read, watch college sports, and read some more. Every friend I have seems to have a hobby that includes expensive toys. I'd rather watch money grow, thats all.
Posted on 5/4/15 at 10:08 am to makersmark1
quote:
I drive a 2007 Volvo sedan that gets 32 MPG and has 70k miles on it. I'll drive it until it has 200k.
Just sold my beater 2004 Volvo for $2500; decided that the Chinese ownership isn't going to deliver the same quality (and the brand has discontinued making smaller cars) so I jumped ship to VW, my new TDI gets 55 hwy, 44 city.
But back to the original topic: you have no idea if this family inherited money, or was gifted with a house when they got married, or have a trust fund from grammaw or oil wells out in the piney woods. Don't judge their total circumstances on the parts they display to you: you say he wouldn't know a mutual fund, but maybe he doesn't need to know about them. A surprising number of people have steady royalty income from mineral rights, leased timber property, etc.
Posted on 5/4/15 at 10:17 am to makersmark1
quote:
I play almost daily and spend less than 100 a month on golf.
How?
Posted on 5/4/15 at 10:23 am to GFunk
I don't see what the issue is here. If the guy can afford it, who cares what he spends his money on? If he is in debt or doesn't make enough money to support his lifestyle, then that is one thing.
I am traveling every weekend in May (Atlanta to see college buddies, backpacking in NC, Wine Tasting in Napa, and Memorial Day lake house in Tennessee). I'm also spending thousands of dollars on all of this, but I still save over 20% of my paycheck and have the money to do so.
Don't see what the issue is with spending money on things you care about and enjoy as long as you have a financial system in place to afford it.
I am traveling every weekend in May (Atlanta to see college buddies, backpacking in NC, Wine Tasting in Napa, and Memorial Day lake house in Tennessee). I'm also spending thousands of dollars on all of this, but I still save over 20% of my paycheck and have the money to do so.
Don't see what the issue is with spending money on things you care about and enjoy as long as you have a financial system in place to afford it.
Posted on 5/4/15 at 10:27 am to Lawyers_Guns_Money
I get the sense that it wasn't so much the money, but rather a semi-vulgar way of talking about spending money that seems to have offended the OP. Some were raised that discussing money/salary/how much things cost are not topics for polite conversation.
Alas, I am beginning to despair that no one teaches kids about making polite conversation any more.
Alas, I am beginning to despair that no one teaches kids about making polite conversation any more.
Posted on 5/4/15 at 10:35 am to hungryone
quote:
but rather a semi-vulgar way of talking about spending money that seems to have offended the OP
telling him that he joined a deer lease and what type of car they were looking at getting next just seems like normal conversation to me...
Posted on 5/4/15 at 10:47 am to Salmon
quote:
telling him that he joined a deer lease and what type of car they were looking at getting next just seems like normal conversation to me...
But that's not what happened:
"His wife was bitching because her Acura lease was about to end, and she wanted a Lexus SUV because of her two kids in private school and her husband said it was too much."
That's not saying "hey, have you seen the new Lexus, what a cool car because of X/Y/Z. I'd love to buy it, but the time is not right"....that's a couple engaged in a fairly detailed interaction about money in front of other people. Tres gauche, n-est-ce-pas?
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