It seems like lately there have been more posts about saving money and how to accomplish fiscal responsibility. That's nice and all, but everyone splurges on something, no matter how fiscally conservative they are. I happen to think a topic like this would be a lot more interesting than eating rice for every meal to save money.
I personally splurge on an expensive gym membership next to my office, even though I have a pretty sufficient one in my apartment building. The convenience and amenities (I have a locker and they do my laundry, the steam room, basketball courts, etc. despite being in an urban area) make me much more likely to be consistent with my gym routine, so the expensive price tag every month is completely worth it to me. There are also pretty awesome networking opportunities there, so perhaps that's another way I justify it. Other things I splurge on would be travel, but I think that's a pretty standard thing for everyone.
So, what do you all like to splurge on?
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@DickFuld's mother when she's been a good girl
@DickFuld please respond
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retirement & investments
beer & steak
I guess I should have clarified that I was talking about splurging on things that are NOT retirement/investments. But I respect it.
Where I live and toilet paper. I never go cheap on either.
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Good tip. That cheap 1 ply stuff has your butthole looking and feeling like a sundried tomato.
Do you regularly look at your butthole?
Amen brother. We've all made the cheap TP mistake once and never, ever made it again. I've broken up with a chick for making this mistake twice. No room in life for such ignorance.
Beer. Huge difference between a $6 six pack and a $10 one. For a couple hundred extra bucks a year you can drink significantly better brews.
some craft brews seem like scams. like they charge $10-15 for a 6er of some test sh*t they whipped up that isn't good or interesting. lot of get rich quick guys in the biz now
Kush
high grade wit some xans
Really, the biggest "splurge" you can think of is a ~$150 per month gym membership??? I almost forgot I was even paying for mine until now..
My bill at the gym last month was $411. Would you forget that? I hope you would, because I want to see my fellow monkeys making bank, but unfortunately I still notice that. It's a country club style gym so there are other things on that bill, but yeah I consider that a splurge when I could use the gym at home for free.
where could you possibly workout, equinox in nyc costs like 250 a month, NYAC?
A lot of people in finance tend to spend a lot of money on expensive clothes for work. While I don't buy cheap clothes for work, I don't buy particularly expensive clothes (except shoes). However, I do spend a lot more $ on fashionable street clothes for outside of work. Maybe it is different for those in more client facing roles but I honestly do not give a flying fuck if my coworker notices my hermes tie or some other meaningless branded status symbol. I'm a huge fan of high-fashion casual and/or 'going out' clothing. Spending a lot of money on clothes I sit at a desk in next to the same people day in and day out seems excessive.
Interesting thought - I am the exact opposite. I splurge quite a bit on work clothes and buy most of my casual stuff from places like Gap or Club Monaco (usually on sale). I always thought, pound for pound, you get more when you pay up for formal wear. Like, you could spend $200 to get a good made to measure shirt or $400 for a great bespoke shirt that will flatter your unique body shape. You could easily spent more money on a casual shirt and look like a slob because its never going to fit you as well as something made for your measurements.
Same goes for shoes too I think. Don't get me wrong - Lanvin sneakers look fantastic but for that price you could get a goodyear welted shoe made using top quality full grain leather from a reputed Northampton shoemaker.
Sure. You have to know how to shop for yourself. But part of the magic of designer clothing is that the cutting tends to flatter almost any body type. It's hard to look like a slob buying designer clothing. You also can get a lot more unique looking casual clothing when you buy designer. I get that bespoke shirts are great for fit but I also care about the uniqueness factor. Nothing crazy or out there but I have found that a lot of the casual designer clothing that I own friends and strangers will ask me "hey that's a really cool xyz, where did you get it?". I also may have a different perspective because I kind of hate looking like a 'finance guy' on my off time. Having a custom made dress shirt is great and all but I almost never wear a collared shirt outside of the office. I think men (at least on the east coast) have collectively decided that the casual/going out uniform is a button down slim fit shirt with the sleeves rolled up and dark jeans. The best dressed people, in my opinion at least, are those who can look just as presentable and put together without adhering to this unwritten uniform.
Tickets and travel to most of my alma mater's home football games, along with an away game or two. It's like a drug, I'm hooked
Emotional investment into sports is SAD. It's what the mediocre do. You took it one step further, you're also spending a lot of money.
Why Sports Consumption is Counterproductive
The only people that say this went to a school with shit college football/basketball.
"I was with my wife planting 8 large California Pepper Trees in our yard all day."
Lol the author is a whipped little bitch. Not surprised he lost interest in sports being a DC fan.
On a real note you know what the mediocre do? Link a completely anecdotal article as some type of "source" to further their own overgeneralized opinions.
Hell even feeling the need to call anyone "mediocre" is a sure sign of his own insecurities.
I just bought a $4,000 mountain bike...
Santa Cruz 5010 S.
Kick ass bike, perfect for all around riding, could even do some light DH on it I guess.
food...love to eat. never would give up my gym membership - $90/month which some may consider high. otherwise my rent is low, i hate shopping, and i dont booze at the bars 3x per week like i used
Really depends on what the splurge is. Currently as a lowly analyst, not much of that happening.
Associate goals: Spacious / modern apartment in a luxury high-rise (I like battery park area). Lease S-550. Side note is that I'm in a two income household. Car would be more of a weekend toy, as it's entirely unnecessary in Manhattan.
Side question: The S-550 probably struck a lot of people as unusual / outlandish. Even in the preftige dripping WSO, even in the "desired cars" threads, I never hear anyone drop the S-bomb. Is it because most bankers are more frugal than to drop 1k+ on a lease, or are people not enjoying Benz's like they used to?
you sound like someone who is destined to live pay-check to pay-check
Why would I live pay check to pay check if I'm making a shitload of money and have a 2nd substantial income from my spouse? You sound like someone who's resigned himself to a life of mediocrity
Kind of an old man car, don't you think?
That was my sense, too. To impress your immigrant parents because in the old country government officials all drive black s-classes stolen in Germany.
Yeah, I think it's definitely perceived as a "silver fox" car in Manhattan. To be fair, I'm not sure there's another car out there, in that tier, with a better combination of space, comfort, and luxury.
Did anyone even question it before you posted this? Is this even an edit or was it in your original post?
No, I just knew that it would draw incredulous outrage from the ultra-frugal and boring WSO crowd.
I've always thought of the s550 as something to be driven around in rather than as something to drive.
My PC. Not dealing with these pre-built pleb computers. Top of the line GPU and CPU, tempered glass case, RGB fans all over, 16 GB ram, 10 TB storage, flashy AF LEDs all over, 1440p monitor, mechanical keyboard.
A nerds gaming paradise.
People still buy PCs?
10 gb ssd and 144 hz monitor?
Doesn't it absolutely blow when you have to go back to that work laptop/desktop though? I almost want to kick my personal PC for being so fucking fantastic. I do as much work at home as I can with my 3 screens.
Screens, pfft bro it's all about working in VR these days. VR on excel bro, Everyone at work thinks im crazy when I hook up but I dish my models out faster than Iron man puts his suit on.
I have a mechanical board at home that I would love to bring into work if I wouldn't be hated by everyone in a 50 ft radius (Cherry MX Blue switches)
I want to get some Browns for work. I have a cherry blue's at home.
The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee
WSO is not your personal search function.
How much did this run you? Guessing 600-800 excluding peripherals. I'm thinking of putting together one of these setups just for the hell of it. Did it when I was younger, definitely badass
If it's actually top of the line, 600-800 is way low. I'm not as up to date on the parts I was a couple years ago, but I'd guess around 700 for GPU, 500 for CPU, 200 for mobo, 200 for case, 200 for RAM, 200 for a good power supply, 150 or so for fans, and assuming he has a 1TB SSD and the rest in hard drives, like 300-400 for storage. So for his setup minus peripherals, like 2500, but 600-800 is easily doable, you can build a solid PC with that much.
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Whilst passing away, no one has ever said "I regret travelling so much."
As such, If I died tomorrow, I will be content and (slightly) smiling, knowing I've seen the world, it's cities, countries, continents, and islands in (near) entirety.
May I rest in peace, whenever, wherever and however my end will inundate my existence..
This is exactly the way I feel as well. Hopefully using this gym membership will help me extend my life a few years to accomplish more travel.
weed, weird exercise equipment, and supplements and mushrooms and shit off amazon and ebay
heister:
Look at all these wannabe richies hating on an expensive salad.
+1 SB for the mushrooms, but seriously, how many mushrooms are you consuming that it made its way into your "splurge" post?
They get pricey, man. It's mostly how frugal I am about everything else though
heister:
Look at all these wannabe richies hating on an expensive salad.
Recently purchased my first higher-end watch (Rolex), and I've now developed an uncontrollable urge to build up a decent collection...oh boy.
which model did you get PEREtzel? I may be joining the (ridiculous I'm sure) waiting list for the new Pepsi GMT
I always wanted a sub (I grew up ogling my father's 16613). An 116613 is a bit tough to wear daily (imo) but I wanted something more unique than the typical black dial. The day the AD called and told me there was a hulk available and I was at the top of the list, I jumped on it- they're impossible to find at AD's these days.
And yea I bet the wait for the SS pepsi is going to be insane. I think the new full everose GMT they released was the nicest looking one!
High quality shoes. Never a bad investment. May or may not have developed an addiction to Cole Haan's Zerogrand collection.
haha like walking on a damn cloud, currently sporting a pair of double monks.
wuttttt. did not know those were even a thing. their zerogrand drivers are probably the best shoes i've ever had.
Some recent splurges include:
Love that - "fine cuts of beef" - also tends to be one of mine.
Not me, but I knew a guy whose "splurge" was socks. Yes, socks. He would only wear brand-new, unwashed socks out of the package, for one wear, and then he would donate them.
Not what I would pick, but fairly harmless in the grand scheme of things.
Starbucks's Matcha Latte for all my CFA studying
Season tickets to my NHL team and business/first class when I fly International (usually two-three times a year).
I splurge on my penchant for Valentino suits and Oliver Peoples glasses. And an expensive barber, because I need to have a slightly better haircut.
that reminds me i need to add O.P. to my splurge list
gross...
I splurge on travel every year (but still save every month) in the past few years ive been to (bearing in mind im from the UK), Orlando, Miami, New york x 2, LA, Vegas, San Fran, South of France, Croatia, Thailand (Bangkok down to the Islands), Ibiza x 2
Clothes, both work and casual. My casual wear is usually all Reiss or Cos, and work wear is usually Boss. And also books, but I tend to pick them up second hand on amazon.
Edit: Also i'm not cheap on things that will last a while like glasses and sunglasses (oliverpeoples) and i bought a mountain bike too.
I have a pair of the O'Malley's with the clear frame and dark polarized lenses and they are my favorite pair of glasses by a long shot.
Golf Trips
Bourbon
Shoes
Jordans(dont hate)
i once bought some world of warcraft gold to get my epic mount faster, quite the splurge on my part
Spending on your health (2 gyms) is not splurging - it's being self-aware.
When I was a PE associate I splurged pretty heavily on clothes, but nowadays I spend almost nothing. Every year I take a few international trips but I don't spend particularly lavishly on them. My biggest splurge lately was my home combined with some of the furnishings. I'm incredibly happy with my purchase but wow was it a mental blow making a large down payment and staring at a massive mortgage. It has definitely changed my perspective on how I spend my money.
How much how much?
If I splurge, I'll do so in order of importance:
1.) Personal Health / Diet / Fitness
2.) Education
3.) Housing
4.) Transportation
But currently I'm putting +60% of my income into savings and it feels great.
That's awesome, very underrated post. Kudos to you
I keep a scotch collection, and I try to dine at a high-end restaurant once a month.
Gucci sleds
Fly fishing gear, I can't help myself.
amen. are you new to the sport? the longer you fish, the more you'll become attached to a few pieces of equipment that you have really good stories with even if its not the best. i have a few abel reels that collect dust because I was gifted a few old school reels that remind me why I like the sport so much- the heritage.
Private country club. It's not outrageous by any means but the golf course is a golden age course. Certainly doesn't go cost neutral over time to public play. The convenience of a private clubhouse, locker room, dining, and free-roaming golf course / practice facilities is unmatched to any daily fee track.
hook a brotha up! hopefully my 30 index won't get you kicked out of the club :P
A relatively affordable used 911
Repairs on said 911
Which model Prescott? I have a '78 SC in my garage
A slant nose! Very nice -- I've got a base model '03. Just enough to get me hooked and start looking at getting a 997 turbo once it's feasible.
100% splurge on shoes, more specifically loafers. You can't put a price on comfortable shoes. Not sure if it's considered splurging, but 2UNDR boxers will change your life for $30 a pair.
Car parts + track days
At the Craps table. By far the best table game out there.
Wine
A few little things:
- Food: both at restaurants and when grocery shopping, I love eating amazing food. I would easily pay a bit more for a great cut of meat or freshly baked bread than cheaper options to save some money
- Watches: this may be very personal because I'm a huge watch enthusiast but there is no cheap for me and watches. I will wait and save for a 50K limited edition Lange than go straight for the steel + gold Rolex when I have the money.
- Travel: when I stay in places it doesn't have to be a Four Seasons as you can find many good hotels for slightly less, but the flying there makes a big difference; if possible upgrade to first or business class
I spend mainly on travel.
Started flying business last year which is a huge win since I only really three 1-week vacations a year. Each vacation costs ~$4k but I am never unhappy with that money spent.
Last year I put on a few pounds, so I got an expensive personal trainer ($13k/year) to work with me exclusively
I splurge on travel as well (usually just the plane tickets and food, and then use credit card points for free nights at nice hotels).
I'm planning on traveling for the couple months this summer after graduating bschool and before starting work. I figure I won't have much time off as an IB associate so I'm making the most of it.
Travel: we love to travel, but the time is tougher to come by than the money. So no more budget travel, doing it up when we have the time has become commonplace.
Food/Restaurants: We love trying new restaurants, so moving through the best places in NY has been a goal of ours. Dropping a few hundred a meal (a few places are more than that, but you have to space those out) every week or two seems like a ton, but again it's one of the few things my wife and I make time for together that's expensive. Otherwise it's just chilling together with our dog.
Building with amenities. Having a concierge who handles housekeepers, dry cleaning, laundry, dog walkers, etc is a fucking life saver if both partners have demanding jobs.
As a side note, you mentioned networking at your gym. I know you said it has some country club amenities, but I really fucking hate when people talk to me when I'm working out. Don't interrupt a dudes set to talk about his firm.
I would never do something like that. It's usually at the lounge or restaurant on site or in the locker room/steam room. I hate when people talk to me when I'm working out.
Spending money on services like this is the best type of thing to blow money on. It literally makes your life better and is much more enjoyable than stuff. It gives you more time, which is the most valuable thing you can buy.
100% agreed. Within reason, spending money on freeing up time and/or maximizing comfort during your free time, is almost always worth it. You get way more utility out of that than you do out of expensive cars/clothes/etc.
airbnb's, such as https://www.airbnb.com/rooms/919910
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That's amazing, but 78 bucks a night doesn't feel like a splurge. I know you have those sweet sweet monkey dollars.
junk food and pc gaming gear
Considering I'm in a billion dollars of debt from law school, nothing.
I had to splurge on suits. Went to Thailand for vacation last year, ended up at a tailor my friends had recommended. I have 4 now and a tux on the way. Absolutely worth the money compared to the Mens Warehouse / Jos A Bank coming out of college.
Scotch
and Tesla puts.
Beer, and when in Amsterdam or Munich, whores.
Business class airline tickets on top tier airlines (Qatar/Cathay/Singapore/etc., no way in hell am I flying 8-across business on United or one of Delta's tiny 767s) and domestically whenever the price premium makes sense (it's so nice having a lie-flat bed on a LAX-NYC red-eye when you have work the next day), I splurge on hotels every once in a while (club level room at the Ritz Carlton Singapore was just amazing), and 3-4/week "boutique fitness classes", ie. SoulCycle and [Solidcore]. We also do some expensive dinners but honestly we eat cheap pho most of the time so that kinda washes out. Otherwise, just saving up for MBA/firm equity down the road.
Sorry but Spin classes are so lame.
Buy a real bike and get outside.
Personal preference - spinning is a sprint workout at 100% capacity, whereas outdoor cycling is endurance 80% - I prefer running for endurance.
I honestly can't justify paying for business class in cash. JFK to Hong Kong is $750 round trip nonstop on Cathay Pacific. Business Class is $8000. If you're using points, sure I guess but damn it's not worth 10x the cost to me.
CX very recently had fares between Chicago and the Maldives for $2,400 ish, probably could include a stopover for $100 on that too. It's not hard to book top notch business products to Asia for sub $3k now-a-days. Flyertalk is an amazing resource.
Gym clothes/shoes
I bought like 50$ worth of Hearthstone packs recently, quite the splurge.
One a month, an indulgent dinner with a friend: no price cap on the wine list.
Every few months, I might buy a couple of new clothes - I keep an ongoing "wishlist", and I'll dip into that. Could be a watch, headphones, whatever really.
My most recent splurge was at a watch auction: bought myself a 1950s Omega.
Kudos on the Omega, must be an amazing piece. Seamaster?
Cash and cash equivalents: $7,286
Financial instruments and other inventory positions owned: $313,129
Thanks - is a Constellation
Do you follow Omega_Enthusiast on insta? If not you really should!
Edit: Also beautiful watch, are you keeping the original band? I kinda like the look of the older Omega's with updated straps (potentially a hot take there).
Oh yeah, definitely a hot take waiting to happen. I would never change out vintage watches strap, somebody's grandpa wore that!
Cash and cash equivalents: $7,286
Financial instruments and other inventory positions owned: $313,129
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