Is It Really Money Wasted If It Makes You Happy?

Some of us are lucky enough to have something we love spending money on, even if other people simply don’t understand the appeal. For some, it’s clothes. For others, wine, gardening, travel or an ever-growing collection of something most people would consider unnecessary. One person’s clutter is another person’s treasure, after all.

One memorable example came from Glenn, who spoke about his passion for collecting anything and everything connected with cars in a series of financial confessions.

“It really had started with toy cars. I’ve still got those. I’ve still got the models, I’ve still got the car magazines, the books, the videos, the DVDs, the car parts, the personalised plates which don’t appear on cars, the cars themselves…”

His collection came with an amusing admission: “I’m a collector – and I live in a tent – but I’ve got some cool cars.”

Martin explained his wife knew about his purchases, including a car stored in a garage elsewhere, and he saw no reason to feel guilty. He enjoyed his investment, had fun with his hobby and believed money was meant to be enjoyed.

It’s a refreshingly straightforward attitude. He enjoys his hobby, gets pleasure from his collection and sees no reason to feel guilty about spending money on something he loves.

What makes it worth the money?

People spend money on all sorts of things other people might consider a waste. A cupboard full of shoes, a shed filled with tools, an expensive camera used only occasionally, or a collection of vintage teapots might leave someone else scratching their head. Yet the owner knows the pleasure involved. Perhaps the enjoyment comes from the hunt for a rare find, the satisfaction of learning a skill, the excitement of using something well made or simply the pleasure of being surrounded by things they love.

Not every purchase needs to be practical. We buy things for enjoyment, comfort, curiosity and the experiences they provide. A hobby doesn’t have to generate income, improve our fitness or produce something useful to earn its place in our lives.

Of course, there is a difference between spending money on something we love and spending beyond our means to keep it going. The trick is knowing where the line sits for you.

When should you feel guilty?

Of course, there are a few things worth considering before declaring your spending pleasure guilt-free. If:

• Does your partner know about it, and are they comfortable with it?
• Does it make you happy?
• Is it your money to spend?

If you can answer yes to all three, do you really need to feel guilty about it? Probably not. We all have different priorities, and what seems frivolous to one person may bring genuine pleasure to another. Your friend might think spending hundreds of dollars on a fishing rod is ridiculous, while you might struggle to understand why they pay so much for concert tickets. Neither of you needs to be right.

Of course, if your spending affects shared finances, causes arguments or leaves you struggling to pay the bills, it’s worth reconsidering. Otherwise, you don’t need everyone to understand your passion to enjoy it.

Know your limits, enjoy your money

One simple way to keep a favourite pastime enjoyable is to decide how much you can comfortably spend on it. A regular allowance, a separate savings pot for larger purchases or a pause before buying another addition to the collection can help keep enthusiasm in check.

The aim isn’t to turn every pleasure into a budget exercise. It’s to make room for the things you love without creating problems elsewhere.

You don’t have to convince everyone else of its value. If it brings you pleasure and you can afford it, perhaps the only person who needs convincing is you.