Not looking for big tickets like a nicer house, more creature comforts that would make you feel wealthy. For example expensive scotch, quintuple ply TP, guacamole with every take out.
For me it'd be:
Better quality and healthier daily food/ a weekly expensive hobby like skydiving/ a monthly top tier restaurant.
Token "I'm not with a survey company". I'm just curious what people think, maybe some attainable ideas might even pop up.
It wouldn't change anything for me. I already get everything I want, and have money left over. I'd just have more left over.
My income fluctuates a lot … really high to really low :)
at the moment, it's very descent …
past 6 months
1st i paid off debt
2nd enrolled in a course
3rd new car (well, vw with 84km's on the clock)
4th oculus quest 2
next 6 months
5th fence for front of house (around 28m total)
6th fix fireplace (enclose it with fire resistant glass)
7th demolish & recreate bathroom (myself)
8th re-renovate kitchen (first time i was learning, so now i have to replace benchtops, tiles, doors & rails - don't get push to open)
make plans, but plan for waste, first descent pay, you have to treat yourself a little, but plan it out, what you need to spend and what you can afford to blow :)
You just said NOT expensive items… then speak of skydiving, and fancy restaurants.
A fool (not saying you) and their money are quickly parted.
I don't think you read it. I said not big ticket items like a house. Then I specifically used the word 'expensive' in two of my examples haha
pay someone to mow my lawn/maintain clean up my backyard.
Fix my car, there's been a huge dent in my bumper for a year now
I'd like some nice clothes, I always hear people talk about natural fibres…other than some cotton t shirts, everything I own is polyester/rayon/acrylic. But synthetic isn't always a bad thing - waterproofing for example.
Also better linens/bedding.
Eat out more, spend on art supplies and more experiences. I'd go watch movies instead of thinking it'll come to Netflix, go to some concerts and performances.
Handyman, definitely to fix things up around the house (if I don't move)
No more supermarket teabags. Time to get fancy.
I'd like to decorate the house (knick knacks, art), update some furniture and have a neat and matching pantry storage set up.
Can I afford to do some off this now? Well at this stage I think functional not eye pleasing.
I'd probably donate more, invest some and prepare for earlier retirement too.
'natural fibres' - I hate to sweat - and polyester in a lot of clothing tends to make me sweat with any exertion
so I've gotten all-cotton clothes from UniQlo - not the cheapest but not the most expensive
which I find more pleasant at least to reduce or avoid sweating uncomfortably
Doubled wage?
Model 3 performance and weekly cleaner
I think I spend 1 hour a week vacuuming and steam mopping the tiles, and then there is spring cleaning… ugh.
Pay for WinRAR.
Nah I joke. I just use 7zip.
gun
Investment properties their like pokemon got get them all.
Canned spam
If your income tripled or not most important thing to do is looking after your health, like you say it’s very important to spend money on good healthy food, also spend money on things or a hobby that will keep you healthy- things like a bike, good runners, hiking equipment gym membership etc , also you can spend money on things like floatation therapy, hot springs etc. I see that you are in Qld, best place to be out and about ,in-fact I will give up Vic in the next few years to permanently move up north! I want my young kids to enjoy the sun.Serotonin secretion in your brain triggered by sunlight is a key secret to happiness, something a lot of people don’t appreciate.don’t
Want to sound morbid but a lot of people don’t realise that life is short and we all get old frail and die lol.if one is not healthy it is very difficult to enjoy life regardless of the amount of money they make.so look after your health!!
'Serotonin secretion in your brain triggered by sunlight is a key secret to happiness'
don't be SAD (with Seasonal Affective Disorder) - https://en.wikipedia.org/wiki/Seasonal_affective_disorder
That was more a Melbourne thing - day after day of grey skies - thus Leunig cartoons - https://tinyurl.com/ez2ms8rh
In Sydney (more sunny?) I'm generally perfectly content - but on odd occasions when I've come down with some lingering unhealthiness I can feel distinctly unhappy leaning towards depression
so your health is number one - and people who ignore their health are probably risking their happiness
there may be some association with fear of doctors -
I've read that a long healthy life has been associated with regular checkups then following doctors advice
shorter unhealthy life has been associated with avoiding checkups (for fear of bad news) until early-stage disease becomes chronic or late-stage, then failing to follow doctors advice ('what can you do' inertia and learned helplessness)
Well, after a few years starting my own business, my income went up 10x+ times my previous 40hr/week salary.
To be honest, not much changed. Food/lifestyle is still very similar or I should say shorterm wise, maybe even worse than before. Similar type of food, maybe a few times a year to a nicer restaurant, but once you've had enough, they are no longer special, and you can easily afford it as well. Same type of feeling when you're little and dream about having Macas everyday, but when you are older, Macas is nothing special. Having more and more unhealthy food.
What's changed is I now invest a lot more, property, shares etc. Yes, bought some nice new cars, going to redo backyard etc. But nothing too crazy.
The main reason my lifestyle not changed or even got a little worse is when you are earning a lot more, responsibility increases as well, especially your own business. I don't have time for holiday, in fact, I've been working 7 days a week, 363 days a year for a few years now (Christmas and New Year are my only day offs), yes you do get used to it, you don't feel tired after doing this after 6 months, scary right?
I don't have time to enjoy most of the things I want to enjoy. I would think if I take a holiday, direct cost is not an issue, I can pay it with easy 1 day of work, but indirect cost when you are not running your business can be substantial, maybe $50k to $200k indirect long term loss if I take a short break. And too many people relying on you, your staff, clients etc. so many decisions to make. And even if I do go, my phone will never stop ringing. So all I want to do is work as hard as I can while I'm still young and take a proper retirement later. Do I want to keep continue like this? Well, it's not up to you now, you gets pushed, so just continue on.
So which lifestyle do I like? Honestly, both are nice and not really a choice, but maybe my previous lower income lifestyle a tiny more, I get proper weekends and enjoy time with family and friends and drooling about my dream car. But now, I gets different kind of enjoyment, you feel happy when your clients affirms you and supports you. Your staff's smile when they achieve new goals and getting pay raises.
Many people talking about having healthy food after income increases, my experience, yes at the beginning my food did got healthier, however as things are getting busy and I become more stressed, healthy food is not enough to keep you working 150%, you get hungry faster and start to hate your life. Quick and high energy meal start to moving in so you eat less frequent and last longer and more satisfied. I'm eating a lot more meat than before, yes my weight went off the chart and does not seem to drop at all, do I know all the risk? Yes, do I know what should I do and eat? yes, More exercise? Yes, but again, very difficult to achieve when you are too busy and time become your most luxury possession. Hope this will help some people.
I would think if I take a holiday, direct cost is not an issue, I can pay it with easy 1 day of work, but indirect cost when you are not running your business can be substantial, maybe $50k to $200k indirect long term loss if I take a short break.
Ah yes this is a killer, can relate re: opportunity cost of taking time off. I have to actively talk myself out of this type of thinking otherwise I'd never take holidays and be at risk of burnout
Why type of business do you run?
'I'm eating a lot more meat than before, yes my weight went off the chart and does not seem to drop at all, do I know all the risk? Yes, do I know what should I do and eat? yes, More exercise? Yes, but again, very difficult to achieve when you are too busy and time become your most luxury possession'
sounds common to business people driven to succeed (quietly I suspect many 'start your own business' folk do so because they don't play well with others - and rankle at someone telling them what to do)
reminds me of a guy I know - successful in business - until he had a heart attack - maybe triple bypass surgery - time off - driven to give up the booze, exercise and eat healthy to get back on top
last I looked showed up drunk - oops - looks like fell off the wagon
recently articles about 'why do we strive so hard to earn money - when happiness is most associated with time spent with loved ones'
is it advertisers who have sold us this pup of 'imagine' luxury if you spend money - must earn money - hedonic treadmill ?
my partner just bought some shares today - with a spare $200K - meh - so we can stop thinking about that - she's in the kitchen whipping up a treat for us for dessert - homemade much more enjoyable than that lukewarm UrperEats crap …
I'd leave the aircon running permanently. thats my idea of being well off.
New socks, expensive clear tape for my small eBay store (and tape dispenser), new car parts and tools I don't really need, real paper books, nicer shower curtains and rings, body wash vs. bar soap, nicer cuts of meat every now and then and more salmon!
Another weird thing is I'd probably do is get rid of a lot of stuff I don't use, but can't justify throwing out due to low usage. Problem is that to get a fair return is a hassle. With a income boost I wouldn't mind letting these things go at a bit of a loss to clear up space.
Travel more often.
Super interesting to read everyone's ideas, I wonder how many people actually would do the stuff on their list? I've been trying to buy the best (as in freshest from markets or organic) food I can find but often cringe at how much it costs and go for the cheaper option, even though I can afford it. Is it like a frugal mentality that is there forever?
I've read that organic food is mostly a scam as far as improved health - the body digests and interprets the food without noticing the difference
in my observation, most health food nuts are people with existing health (including mental) conditions that lead them to believe that an organic banana must be better
and they probably die sooner from being stressed and anxious about the food they eat rather than simply enjoying it in good company
the strongest predictor for longer life in old age - being - the number of social contacts you maintain
so spend money to share with friends who care about you - and your heath will probably improve …
Went from broke student to highest tax bracket over the course of a year.
Have since splurged in travel (pre lockdown) and bought whatever device I wanted (Probably spent 10k on devices already). Only issue is I'm still penny pinching on the food side of things. It's a weird feeling rationalising spending the 5 minutes to save a dollar when that will realistically lose you money.
Yes, if you grow up frugal it is very hard to change your mentality.
My wife doesnt care about designer labels, and plans for grocery specials shopping (for items with long shelf life-detergents, canned items etc) because she likes doing it, as it makes her happy. But she certainly is now happy to pay extra for good quality food. eg fresh seafood, good fruit and veges , etc
Both of our families trained us to be smart, and not waste money, and train our kids to not waste money…..
Probably reduce my work hours by half or two thirds.
Going back a few years ago my pay increased by 20% over two years. I dropped one day a week at work. So I earnt the same but worked less. Highly recommended.
Pay down my home loan and build funds for RTW trip.
Edit: For everyday stuff, I'd get a Slayer One Group coffee machine and loads of Aldi coffee beans. :p
What's the budget goal for rtw?
Depends how lavish (or thrifty) you want to be.
For a decent trip, I reckon $30K over 3 months for: Accommodation, inter-city transports, food and other expenses.
200-500K FF points for RTW flights redemption (otherwise factor in another $20K for economy air tickets).
Lastly, factor in 3 months of annual leave (or more if you end up leaving that triple-paying job).
Multiply that for every person joining the trip.
More crypto and probably some stocks.. boring but hey I'm trying to face for a unit.
I already know what happens when my income doubles - wife spends twice as much.
Among all the financial, clothing and grocery changes…I’d never think twice about buying a fancy stout craft beer that costs $40 a bottle 🤷🏻♂️💸
Shares. This would accelerate my plan to retire early. Time is more valuable.
Hookers
How many? And per week or per month?
Would stop rotating between entertainment service subscriptions and have a few live at the same time. Would buy movie rentals more often when the movie I want to watch isn't on streaming and save myself the effort of pirating.
Pay for a cleaner every 6 months or so for a kitchen/bathroom deep clean and a couch steam clean.
So creature comforts? Better everyday cooking ingredients, more experimental recipes with expensive ingredients, new graphics card every 3 generations or-so, nice alcohol/bar, new tailored suits, nice gifts for friends and family.
Upgrade to a premium golf simulator. Semi-big ticket.
For me it would be that and a 747 simulator.
What do you have right now?
“I spent half my money on gambling, alcohol and wild women. The other half I wasted.” - WC Fields
I’d trade it all for a little more.
The Healthy foods which are more expensive then takeaway…
Creature comfort ? well I'd start with installing automated/motorized blinds. I hate putting up and putting down blinds every…single..day.
Half the time if the better half is not around I don't even put up the blinds and just use the lights in the house because I hate putting up the blinds all the time.
I don't think much would drastically change. I might treat myself to nice seafood meal more often. Maybe about it
double or triple, means really 100% more after tax, taking away house and the big items, its effectively 5-10x more disposable assests spednign money.
A new dirt bike for myself and my son along with a trailer.
Im feeling like that will be one of the things im going to regret not doing the most when I reach those pearly gates.
Can finally splash out and get 2 ply.
Nice booze. I eat pretty well. And probably a couple driving lessons a week. Those are expensive
Probably focus on amplifying my wealth and passion projects instead of worrying about survival.
I'll probably stop buying marked down stuff from Woolies?
Increase the cleaner from fortnightly to weekly. Best money you could ever spend, the value isn’t just in the cleaning but all of the added extras it buys. Anyone with a family and kids knows what I’m saying.
What do you mean by added extras? Curious
'Extras' wink wink.
😎
If you had a family and kids apparently you would know what he's talking about
Just meant that it’s very different to having your own place pre family. There’s a decent amount of adjusting.
Buys time and patience mainly but reduces a lot of stress around running a household which means happier household.
Originally wouldn’t have a bar of it, did it to help out the wife when bub was born but it’s been a great decision.
2bedroom 2 bathroom modern little house (while
I have no kids), a weekly cleaner, one sports car and one SUV (one for me one
for missus) would invest 40% of my monthly earnings. buy better quality food, run my own business, would allow me to practice more sports and pay a decent gym, 2 domestic travels per year and 1-2 international (always staying in nice places) & have a dog.
This is everything that I’d like to do if I tripled my income. meanwhile I do nothing apart from investing 40% of my income 😂
Use toll roads without feeling strangely guilty.
I'm all about food so definitely I'd spend more on treating myself frequently to the best Wagyu cuts of steak (like a Sirloin +9 or more)
Alaskan crab legs, XL lobsters & mud crabs (singapore crab)
A 5kg box of Cherries that are so huge and plump for over $300? Sure why not!!!
A gigantic cheese wheel (aged 2yrs+) imported from Italy for myself 🤩
Yes, I'd buy that $1k bottle of Penfolds, I'll take the Dom too thanks (a bottle a fortnight) 🥳
Gimme that double payrise 😍
Cleaner once a week, gardener once per quarter, buy better food for my dogs and cat (already high quality), purchase more expensive pet/life/TPD/Income insurance, travel 2-3 times/year, invest more aggressive, free range eggs <25 hens per hectares and organic foods. Probably do some modify to my car and bike as well as better shoes.
Cleaner, Gardener and some storage space to minimise the clutter in the house and allow us to spend more time doing things we enjoy.
Possibly buy a car on novated lease to help with the tax side of things.
Rest would go into Mortgage, Investments and Savings.
EDIT: If we were planning to stay in this house for longer than 5yrs, I would also look at upgrading NBN to FTTP and possibly get a Tesla battery.
No change for me. I'm so used to living below my means, more money would have little effect.
Bananas. Healthiest food
Clear mortgage first then retire early. I want to out of mortgage slave.
In recent years our income has gone up a lot, so we do spend more, but not really that much more….
We spend far, far less than we earn, But i dont like being stupid with money…
I guess thats why ozbargain is fun to read…
Things that we have enjoyed spending more on :
Buy good quality food and ingredients, If we notice the extra quality its worth it.
we like to have good food when we have friends over for a meal
I get a massage every couple of weeks - well worth it !!
I have a massage chair, its certainly great, but a proper massage is still better
My friends love the massage chair….A great buy !
We get all the streaming services, Bt is useful when a movie doesnt come out, but having netflix , prime etc is so good
Keep investing- shares, property. Having a business is good, but extra passive income is always smart.
Index funds are easy to set up.
I now pay for services that save me time, when i'm not in the mood.
eg window cleaner, tree pruning, painting . I like mowing the lawn so i do that myself.
We now get cleaning and cooking done already, so we do that when we want to.
Spend time doing activities that give you pleasure. gardening, baking, walking, watch movies
Buy good quality items that i use every day. They cost more, but then i'm not changing items over, so per year it doesnt cost more.
eg good quality tv, lounge, bed. When appliances break , replace them with good quality ones.
Enjoy eating out regularly on the weekends, but we have simple tastes, so thats not a big extra cost.
My wife likes fancier places than me, but we normally eat simple and healthy.
Looked at getting better cars, but over $60-120K it doesnt really make much difference, then you have to be really careful where you park your car. So, from my experience really expensive cars arent worth it…
Hmm, maybe paying a developer to create a bot to not have to read this post.
Here's looking at you Oz bargains, the bonus is on you.
As my income/age grows my taste in things has actually becomes less expensive. I'm no longer interested in expensive suits/watches/wines/dining out at hatted restaurants, just happy and content with what I have at the moment.
The only thing that would improve my quality of life now is moving into a nicer place but since we are only talking about creature comforts…
^Same. I don't need to travel everywhere like I used to, just to the destinations that interest me only. Same with eating out. I don't need the labels, just quality items that last the distance and will pay extra for it if it is good quality.
Having a life with less drama and less responsibilities is not a bad thing. This includes not having children which is my choice. I think people might find my life boring or even meaningless (for not having children) and I am totally ok with that, my life.
I can really only think of 2 things: (1) quality skin care treatments like facials, skin resurfacing treatments and (2) regularly buying organic/free range food/home items from health food stores and wholesale markets like Flannerys.
Probably just throw more into shares, ETFs and super.
No cleaners. No expensive food. I think nothing would change for me. Oh may be i will Ozbargain more.
My income has gone up circa 3 x to 4x since i worked on a salary since start a business.
Joys of running a business is i have many ways to offset tax so i can earn a lot more then a salary earner and many inventive ways to offset tax or use deductions.
Main difference now is im buying investment properties. By December ill have 3. By end of next year ill have 5-6.
Doesnt bother me running the air con all day if i want. I work from home.
Splashed 400 on a nice work chair at my desk. The older i get the more i realize your back isnt bull proof so lumber support and good padding is worth its weigh tin gold.
My wife and i do a trip normally once a year domestically. May add a few international ones once covid settles down.
Wife can stay home when we start a family.
Day to day life has stayed the same, living expenses the same as when i was on a salary. A lot more time spent of researching investments.
Ive always been content with my life so no reason to splash cash around on cars or trinkets.
May start collecting antiques once i set up a big shed to put my finds in.
I would be a penny stock investor. I will research new and upcoming tech / inventions and put the minimum amount on that companies stock and sit on it, hoping it will do well.
I will also buy Chinese ice-t drinks for the rest of my days.