What I’m NOT Saving Up For

We always talk about the things we ARE saving for, but what about the things we AREN’T? Have you ever thought about it that way?  It’s actually kinda cool because you already accomplish all of them! ;) Haha…

Here are a handful of things I am NOT saving for right now:

  • Bigger house – I never ever plan on living in anything bigger than a townhouse.  Condos, 1 level mini-houses, penthouses, those are all good.  But I really really don’t want to live in anything bigger than that – esp. mansions or mcmansions.  Unfortunately I think the wife and future kids might not agree with me on this one ;)
  • Fancy clothes – The sales bin at Express is all I need these days.  And maybe a little Rugged Wearhouse action (name brand stuff heavily discounted) or even Target, as lame as that sounds. Filene’s Basement is kinda hot too, but stuff there never fits me.
  • Electronics – No TVs, DVRs, surround sound, iPods, iPads, iPhones (already rockin’ version 4! Although I spilled Coke on it this weekend and just about killed it… so fyi – don’t do that.), and anything else electronic-y related.
  • School – While I encourage higher education and totally believe it’s worth the money, the classroom experience for me is pretty much over.  Unless I change career paths down the road, it’s all about learning from Doing and networking and conferencing and workshops and stuff like that going forward.  I’ve realized that I learn much better via hands on experiences than I do listening to lectures. I won’t ever say NO though if a class I really think I’d enjoy comes up down the road.
  • Anything over $100 – I can’t think of anything at all that I want/need that’s over $100 right now.  Does that make me lame?  Sometimes I wish that I’d wish for stuff ;) But also kinda not.

I know this sounds weird, but I’m telling you – listing this out is some powerful stuff!  Telling yourself what you’re NOT trying to spend money on?  Shoooooooot.  It really empowers you.  I can go to sleep happy tonight knowing my money is sleeping soundly instead of lost on big stupid toys I don’t want. 

What are you not saving up for these days?

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  1. MK October 18, 2010 at 7:47 AM

    I’m with you on the first one. There is no way I’m saving up for a house that is bigger than what I’ve already got. What I’ve already got is way too big for me anyway! I’m also not saving for a bigger car. I’m going to stick to what the car industry likes to call “compact” size. As long as it gets me from point A to point B I’m happy.

  2. Kevin @ Thousandaire.com October 18, 2010 at 8:01 AM

    I agree with a lot of that stuff, but one thing in particular: I’m not saving up for any more electronics, and it is a great feeling. I already have the 46″ flatscreen, PS3, HTPC, desktop computer, and anything else I might want. I love electronics, so it’s nice to feel like I have everything I need and I can drive past a Best Buy without feeling the needs to look.

    I am waiting for my stupid Android phone to get updated to Froyo though!

  3. Refugees on a Budget October 18, 2010 at 8:46 AM

    Good for you!! I want it all.. a bigger house, fancy clothes, an iPad, PhD, lots of things over $100… just being honest :)) However, I won’t be buying/getting any of it for a looong while :))

  4. Melissa October 18, 2010 at 9:18 AM

    I am not saving up for a car at this moment, because while mine isn’t flashy or svelte, it’s paid off, low maintenance, and cheap on car insurance.

  5. Slackerjo October 18, 2010 at 9:19 AM

    Over the top Christmas.

    We are all grown up now, and there are no children in the family. Most of my family makes 6x what I make so it’s impossible to compete with their lifestyle. So there are no long term saving goals for Christmas.

    I don’t need anything that I can’t buy myself so I just make a donation to 5 different charities and that’s Christmas. I print up a little certificate telling each family member about each donation and that’s that. No stress, no fuss and no useless gifts collecting dust in the basement that nobody will use. AND someone who really needs the help, gets it.

  6. MoneyMan @ FinancialOdyssey October 18, 2010 at 10:58 AM

    A car!
    I have no desire to get another car even though mine is so old. I have family members that keep telling me I should use all the money I have to buy a nicer car. For some reason they don’t understand that I’m not going to drain my investments dry to buy a depreciating asset.

  7. Techbud October 18, 2010 at 1:14 PM

    A House is on my list. I’m set in the one I own. Just need to pay for it now. :)

  8. Michele October 18, 2010 at 1:23 PM

    Excellent question. My initial response was ‘I’m not saving for ANYTHING right now!’ (Although I AM saving, quite aggressively I might add). But then I thought about it some more and realized that’s not true. There ARE things I’m saving for right now (tropical vacation sometime in 2011, xeriscape for backyard next Spring, new car – for when the current one is no longer usable, which probably won’t be for a very long time, fingers crossed). It’s just that I’m saving for them in a rather unintentional way, meaning X amount of dollars go to savings each month, but I don’t typically think about them being earmarked for anything in particular. Probably a problem on my part, as I fear that when the time comes, I’m going to have a hard time parting with those dollars since I don’t currently think of them as being FOR what I’ll ultimately spend them on.

    Anyway, to answer your question, here are the things I’m NOT saving for:

    *Bigger, newer or nicer house (We bought a lovely little starter home this year, which we’ll stay in for several years, and when we DO ultimately “upgrade” it won’t be for a larger or fancier house, just for a different neighborhood, back in the city).
    *Electronics or gadgets (We’ve got enough, though my husband might disagree)
    *Wedding (done and over!)
    *Baby making and all related expenses, such as nursery remodel, “required” accessories, unpaid maternity leave, additional health care premiums, child care and college education. (When you really think about it, having kids is a pretty terrible move from a personal finance perspective)

  9. LB October 18, 2010 at 1:27 PM

    I am not saving for:

    a new car
    more jewelry
    a bigger place (trying for a smaller place eventually even though more expensive)
    the newest, best stuff (wait a few years if you really want new electronics, very inexpensive)
    expensive clothes (love Target and Kohls)
    iPad (my tablet computer is amazing and folds to almost the size of an iPad, but cost $200 with full functions)
    iPhone (might have to get a Blackberry in the future, but for now prepaid)

    I could probably be on here all day listing things I am not saving for. I really don’t want or need a whole lot of anything. I just want to go to college, be healthy, and enjoy my life every day. Having enjoyable things like a new pair of pants that look amazing, is just frosting on an amazing life.

  10. Jenna October 18, 2010 at 1:48 PM

    A brand new car.

  11. Lisa Morosky October 18, 2010 at 2:11 PM

    Interesting way to think. You’re right – we are always talking about what we ARE saving for.

    We’re not really saving for a house, a car, lots of electronics, or really any big purchases. It’s nice to feel content. :)

  12. ESB October 18, 2010 at 2:40 PM

    A new car (although we are saving up for a second used car for when we have children).

    A nicer house. If anything I would like to sells ours and get one that is not as nice so we can pay it off quicker (we have 10 years remaining but I would love to make that 5 years).

    Electronics. We have one TV, one DVD player and a basic cell phone each. I do not really care for anything else.

  13. brooklyn money October 18, 2010 at 2:41 PM

    I am not really saving for anything right now, except retirement, and i can’t really save any more for that than what I do already, at least in the tax-advantaged accounts. It makes saving less interesting if there’s no goal. And I’m more likely to spend it on one-off things since I feel like there’s no big purpose or greater good that I’m sacrificing for.

  14. Everyday Tips October 18, 2010 at 4:26 PM

    I am not saving for:
    fancy haircuts/manicures
    bigger house
    second house
    expensive car

    I am a utilitarian kind of gal. I just need the basics and I am all set!

  15. Jeff @ Sustainable Life Blog October 18, 2010 at 4:36 PM

    I’m not saving money for a new car, a video game system/tv/computer (although I think my computers going to crap out soon-ish)
    spa days
    Or basically anything that I dont already have. I am saving for a house, but I don’t own one currently.

  16. Yana October 18, 2010 at 4:56 PM

    This is a great post. It’s fun to think about what I don’t spend money on :) We don’t need money for DVRs or anything made by Apple Computer. We have an old TV and will only buy a modern one when we are forced, by the current one ceasing to work. We have basic cable and don’t want digital or the box required for that. We don’t rent or buy movies and have gone to a movie theatre around 3 times since 1996 – and that’s because we won tickets. I’m glad I happened to be online when Sicko was available to watch for free, because that is one movie we would have paid to see if we had to. I’d personally prefer to meditate than watch most movies, even if they were free. And I don’t really meditate – I just have a hard time staying awake in front of a boring movie, which to me most of them are. I do like electronics very much, such as computers, cell phones – Android for our most modern one, and I got a Kindle that I really like. I secretly (lol) prefer non-iPhone clones for cell phones, but it seems everyone has one and cool things can be done with them, like scanning check deposits to your bank. I’m waiting for that ability on mine. With PagePlus Cellular, one doesn’t have to go broke on cell phone plans, but you’d better have WiFi on the phone to make it work.

    We’ve never owned a microwave oven! In looking at homes, we see we may get one included in the deal. Haha. Have never felt a need for one. I wouldn’t want too big of a house, if we do decide to buy a home. We saw one that is 1866 square feet, and I think that is perfect. I like value in clothing, preferably low prices, but will spend more on rare occasions. I bought some excellent cookware many years ago, and only need to purchase new non-stick pans from time to time. Good cookware is an investment, if cooking is something you do all the time. We don’t have to save for education or Christmas, as those are either not relevant or our involvement is minimal.

    With all these things that we don’t spend on save for, we can save for the things we really want and also have what we really want in the meantime

  17. JoeTaxpayer October 18, 2010 at 7:26 PM

    I’m not saving up for those things either.
    Right now, it’s saving for retirement.
    I am 48, and need the market to return 6-3/4%/yr for the next 7 years and we will have achieved our “number.” This is the same timing that our daughter will head off to college, and the mortgage will be paid off. Given the last decade, there’s likely to be some reversion to the mean, but I’m not counting on and don’t expect the 10% average the long term has shown.

  18. Molly On Money October 18, 2010 at 8:44 PM

    I’m becoming a curmudgeon! Just let me stay in my double-wide a figure out a way to live without a car!

  19. Donny Gamble October 18, 2010 at 9:20 PM

    I am not saving up for anything that is not going to make me more money.

  20. Khaleef @ KNS Financial October 19, 2010 at 7:40 PM

    House, new car, not really saving up for much of anything accept an emergency and a new wardrobe (heavily discounted) once I hit my target weight!

    @ Donny, I like the way you think!

  21. J. Money October 19, 2010 at 11:13 PM

    @Kevin @ Thousandaire.com – Haha… I love that feeling at Best Buy too!
    @Melissa – “svelte” – haven’t heard that word in a while :)
    @Slackerjo – YES!! LOVE IT! I actually don’t enjoy Christmas as much either because of all the presents going around… I Have everything I need! Although I do like “make your own present” Christmases when we have those. Like your donation idea too :)
    @MoneyMan @ FinancialOdyssey – Cars do suck your money over time and depreciate. But then again most of us need one!
    @Michele – Haha yes – babies are pretty bad for the wallet ;) It’s a good thing we all love them so much! Or at least love that we, ourselves, were once born a baby! Haha…
    @LB – “I just want to go to college, be healthy, and enjoy my life every day.” Awwww, that is wonderful :) Thanks so much for sharing.
    @Lisa Morosky – It’s nice to think differently sometimes :)
    @brooklyn money – Yeah, having no goals can blow. I’ve been there many a times and def. not as exciting, even though I’d take that over spending w/ no goals!
    @Yana – WHAT?!! No microwave? Are you from the 1800s? haha… I bet your body is healthier because of it :)
    @JoeTaxpayer – You’re 48 eh? Wouldn’t have guessed. So young at heart! :) ANd uh..ofcourse, in age too.
    @Donny Gamble – Haha, I like the way you think too sir.

  22. GI Jane October 21, 2010 at 1:53 AM

    I am saving for a new house, car and vacation. I need to add a line item for clothes. I definitely spend over $100. I think have to battle my spendthrift ways. I always have to balance between excess and deprivation. Everything in moderation.

    I don’t have a desire for a new car and house. But I know in the future, I will. I do not need two or three floors either. I love a one-floor ranch and some acreage.

  23. J. Money October 22, 2010 at 12:55 PM

    mmm that would be nice :) too bad that would cost a million dollars here in DC! haha…