3 Things we DON'T Skimp On

While a huge part of working towards financial independence is saving, reducing your costs and increasing your income, we also think balance is important so you can enjoy life in the present. The last thing you want to do is reach financial independence in your 40’s and feel like your 30’s were miserable! 

We are very protective of our financial resources in a number of areas, such as subscriptions or clothes but today we’re going to tell you 3 areas where we don’t skimp or go cheap. These areas are different for everyone and they need to align with your personal values or your values as a couple.

Travel 

This is a big one for us. And I think a lot of other people are willing to spend money on travel too. Travel can give you a fresh perspective or a new mindset. It can reset you and make you grateful for your own life. 

Travel is a value that we have and it has always been important to us but it’s been even more so the years we’ve lived overseas. Really for two reasons - 1) When you’re living in a hardship location, you need to get out of the country every once in a while to reset and get rejuvenated. And 2)  We’ve wanted to take advantage of our locations to travel to new places. 

For example, from Angola it was only a 3 hour $350 flight to South Africa vs. a 15 hour $1500 flight from Texas. And we went to Dubai a few times on only a 6 hour flight compared to a 14 hour flight from Texas. Not only was it cheaper, but we could also go for a shorter amount of time. Like we could spend a 3 day weekend in South Africa. But if you were coming from the US, the travel back and forth alone would take up 2 days so you wouldn’t stay for less than a week at a time. 

As you can see from our map, we’ve made sure to take advantage of being based in Africa and South America to see as much as possible, locally.

One thing we like to splurge on in particular when travelling is a driver to pick us up at airports when we arrive in a new country. This way we don’t have to worry about trying to get a taxi at night in a strange country. Or trying to navigate the local taxi system or a new city, especially if we don’t speak the language. There's nothing worse than trying to figure out which taxi drivers are legal and which aren’t. 

Experiences 

This is probably the most important thing we aren’t afraid to spend money on. I once heard somebody say that memories get sweeter and better with time. Meaning you can look back in a few days, a few years or even decades and think about a special time you had. And this has already happened for us. If I’m looking through old photos from 2013 and I come across our trip to China, I instantly become happy reminiscing about everything we did on that trip and how it was our first trip (and only so far!) to Asia. That $5k that we spent on the trip has paid me dividends in fond memories and great stories over the years. 

But not all experiences have to be so glamorous. Maybe it’s taking your kids out for ice cream weekly. Sure, you could save $30 each week but maybe when your kids are adults they’ll think back and remember your weekly ice cream dates and start that tradition with their children. That’s an experience that definitely paid dividends. Another way Andrew and I would splurge was through happy hours once a month when we were living in Houston. Of course it would have been wise to save that extra $100 but we always had so much fun drinking wine, eating pizza and complaining about work. And I still think back on those HH’s and smile. 

Health

Finally, we don’t skimp when it comes to our health. And under health falls sleep, exercise and food. 

Sleep can be underrated when people think about their health. Getting a solid, good night's sleep is a game changer in how you feel and perform the next day. Whether it’s being a present mom or writing that book you’ve always dreamed of. When it comes to sleep, we don’t go cheap. We have purchased expensive name brand foam mattresses and cheaper ones and we know the difference between the two while you’re sleeping. For us, the quality of sleep on a more expensive mattress is worth the cost. 

Another sleep-related gadget we’ve spent $900 on to help our sleep is a chiliPAD. It’s a pad you sleep on that cools you down and helps maintain your sleeping temperature all night. Ever feel like you wake up throughout the night because you get hot? Yeah, that was me but the chiliPAD eliminates that. For us, it was well worth the cost in order to sleep more soundly each night. Other things I would spend money on are quality thick curtains to block out light, a noise machine or quality pillows for proper head support.  

Food is another area under health where we are willing to spend more money. We feel that food higher in quality, especially organic fruits and veg are worth the extra costs. And we are also pescatarians and a lot of vegan foods are also more expensive - like purchasing Beyond sausage (~$7/pack) vs. regular sausage (~$3/pack).

The final area we don’t mind spending extra money is on exercise. Specifically, on exercise equipment. In the last 3 years we have purchased a water rower for $3k and a Peloton treadmill for $4k. It does seem like a lot of money but these have been important because for the past 6 years living in Africa and Argentina we haven’t had access to traditional gyms like we had in the US. And we enjoy working out at home so it’s worth spending the money on equipment for our home. It’s also very convenient to roll out of bed and walk straight into your home gym so there are less excuses not to work out - like a commute. 

But maybe exercise splurges don’t have to be so large. We are both avid joggers so it’s important to us to spend money on quality jogging shoes when they wear out, normally every 6 months. This is important because shoes can lose support the longer you use them which can affect your joint health and lead to injuries if the shoe isn’t supporting your properly. I always notice a big difference in my stride when I get new shoes. 

Additional Thoughts on Health Insurance

A part of financial independence is also considering how you will pay for health insurance in the future without an employer sponsored plan. And if your health is better this should make you feel more secure with your health insurance options. If you have diabetes, are overweight and have high blood pressure, you may not feel comfortable not having an employers sponsored health insurance. Versus if you’re generally healthy and have gone to regular check-ups throughout your life your confidence in your long term health will be higher. 

We might be spending $4k on a treadmill now, but we’re hopefully avoiding a hospital visit down the line which could save us much more than $4k. We truly feel like exercising daily is important to your overall health and any investment we make now will pay off in the long run. With the high cost of medical bills it only makes sense that you make remaining healthy a priority as you work toward financial independence.  

I hope this article gave you insight into where we spend our money more freely, despite working towards financial independence. Life is a balance and I wouldn’t want to arrive at financial independence one day and realize I have no travel memories and haven’t taken care of my health on the way there. Find areas in your life where you can splurge so you can enjoy the journey too!