Money and Propensity to Splurge

Money. Money. Money. We cannot do without it, but can we have more than enough of it such that we do not know what to do with it?

Money, in my opinion, is primarily a tool to be used to get the things we need or want. It is when we have the “more-than-enough” that we are able to help others. Someone who is unable to provide for him or herself and family cannot financially help another. Yes, some are wired to “give the shirt (or blouse) on their back” to another and go without, but not everyone is so wired. There is a special grace for that kind of selfless giving. I think of Mother Theresa in this regard. I’m sure that there are others, too. I however don’t know them. Most of the time, albeit with a few exception, folks give for what they can get back in return.

The way we spend (or treat) money is primarily relative and depends on different demographical factors. For example, someone who was born into poverty could vow to work so hard to make it in life and never have to be poor again. I would expect such a person would value money and make wise money decisions. Still, I acknowledge that this is not always so. Then again, there’s another born into poverty, who hustled hard, made the money, and splurges on everything, including their children, excusing him or herself for the childhood lack. I would expect such person to understand and be willing to help those who lack. Yet again, I acknowledge that it is not always so.

I commend both categories of people because they recognized the lack that they were born into, but rose above and from it.

There’s yet another category of folks who inherited wealth. Some know its value, while some don’t.

Any of these categories of folks might or not lean towards extravagance and splurging.

I am not judging anyone.

I just want us to ponder on the excesses we indulge in. The thought of splurging has being tossed in my head for about a month since I heard the news about a mid-day robbery incident that occurred in Beverly Hills. I wanna spit it out today. Several items were stolen from unsuspecting residents while enjoying meals at a restaurant. Among the items that made the news was a half-a-million dollar ($500,000) wristwatch. I’m like OMG 😱! What d _____!!!! The next day, the victim got on TV to request that the rogue return it as “it will be useless to you, you’ll not be able to operate it.” I was astound as I watched the guy. I just shook my head.

I were the victim, I would rather not show my face for safety and security reasons.

First thing first, it is sad that in such an affluent neighborhood, the Authorities were not super-efficient to detect the planned attack before it happened. Secondly, what audaciousness of the perpetrators – I mean in broad daylight?! That’s a slap on the neighborhood’s law enforcement agencies. Thirdly, was it a random act or targeted? Well, we’ll leave the Authorities to do their jobs.

Going back to the stolen item. I am not judging. I love the good things as well, but I cannot fathom wearing that priced watch, or any such item, on my hand. My hands better be made of pure gold or FL (flawless) diamond for it to happen! The watch’s price tag is enough to buy a home free and clear. Yeah. Yeah. Yeah. The wristwatch’s value is probably peanuts, to the owner, and might equate a $500 price tag to you and I. And that might be true. But since I don’t personally know the guy, we can only make some assumptions.

Anyways. I compared the above guy to Warren Buffet who, though he’s one of the richest men in the world, still lives in the same house he bought in 1958, buys used cars, and eats McDonalds three times a week for lunch!

Where does the differences lie? Again, we do not compare apples to oranges, but for the purposes of this post, for ponderous money thinking, let’s weigh the two. Which money side/habits would you lean on? Offer your reasons for either Splurging or Frugality in the Comments.

Have a great and wise financial week.

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