A lot of people feel bad about making everyday purchases. Want a new pair of shoes? That’ll be $50 and a little bit of guilt.
Even when we buy something we can’t really afford or purchase something we don’t need, it doesn’t take long to get over that guilt. Unless it makes a serious dent in our bank account or on our credit card, we’ll likely forget it soon, even though we know at the time that it’s not a wise financial decision.
In these cases, we know what we SHOULD do, we just don’t always do it.
But what if the decision wasn’t so easy? What if the cost of NOT buying something cost more than the purchase itself?
The best example of this is experiences. This winter, Lauren and I will be going to Cancun and one thing we’re considering doing while we’re there is swimming with dolphins. It sounds awesome, but it’s also not cheap at all. It definitely is a significant cost, but it would probably be an amazing experience.
So which is worse, a relatively short term pain of spending the money or the possibly long-term regret of not spending the money?
I think there’s nothing worse than missing an experience. Have you ever had all your friends talk about that one epic night they went out and you missed it? What would you pay in retrospect to have been there?
Like a lot of people, I sometimes experience FOMO (Fear Of Missing Out). But how do you reduce your chances of missing out on fun experiences without spending all your money?
Lauren and I decided that swimming with dolphins is one experience we did not want to give up.
Readers, which is worse, feeling short-term guilt about a purchase or having to live with missing an event for the rest of your life?