I was in San Diego for the first time this past week.
It’s a beautiful city. I can see why people are willing to spend so much on housing costs to live there.
Michael and I were in town to record a live podcast at Torrey Pines.1 That’s the lovely golf course where Tiger Woods won the 2008 U.S. Open.
It’s breathtaking.
Someone asked me if I play golf.
I don’t.
Looking at a course like this made me wish I did. I know plenty of people who love the game. I understand why they do. You get to be outside. It’s a challenge to get better. You can spend quality time with friends or family. Beers at the 19th hole are probably pretty refreshing.
But golf is also expensive. It’s a huge time commitment. Plus it takes a lot of practice. I never had the patience for it.2
So I don’t spend money on golf.
Am I missing out?
Some would say yes but life is about trade-offs.
I have kids who play sports. We like to spend time on the lake during the summer. Golf simply doesn’t fit in our lifestyle and it’s too late for me to try anyway.
No one has it all. I think it’s good to have some hard and fast rules about things you will and won’t spend money on.
Here are some other things I don’t spend money on:
Starbucks. No venti mocha lattes with 15 pumps of syrup for me — I still don’t drink coffee.
Expensive haircuts. My wife always gives me flak for getting relatively inexpensive haircuts.
If it doesn’t look great it will grow out in a few days. I keep my hair short and get it cut once every 3-4 weeks.
No need for a stylist that costs a lot of money.
High-end booze. I have friends who enjoy top-shelf bourbon or tequila. I mean I won’t turn it down if offered but I don’t have a taste for the fine liquor.
I am a simple man with simple tastes.
Scuba diving. I tried it once on a vacation in high school. I didn’t like the pressure. Plus I’ve read Shadow Divers. Nope, not for me.
Expensive sunglasses. It’s not worth it to spend an obscene amount of money on shades because I would end up losing or breaking them anyway.
My kids sit on them, drop them in the lake or bend them in ways they are not supposed to bend so I just buy multiple pairs of inexpensive sunglasses to have back-ups.
I have a similar rule for watches. No Rolex for me.
Hedge funds. I know there are great hedge funds out there but I subscribe to the Ray Dalio line that there are 8,000 planes in the air and 100 good pilots.
The fees are too high, they’re illiquid, they’re tax inefficient and I can’t pick the good pilots ahead of time.
Lavish bed sheets. I’m sure you could make the case that 600-count sheets make all the difference, but Amazon sheets do the trick for me.
Middle-aged dad shoes. Sorry but no On Cloud, Hokas or white New Balance shoes for me. I am a middle-aged dad, but I refuse to let my footwear show it.
I don’t care how comfortable they are.
Luxury vehicles. I’m more Ford than Ferrari when it comes to vehicles.
Maybe I’ll go through a mid-life crisis someday and get a Porsche, but I doubt it. I like a quality automobile, but it’s more about getting from A to B than a luxury ride.
I don’t share this list to judge those who do spend on these things.
Spending priorities are personal.
There are plenty of things I like spending money on — shoes, jeans, travel, books, streaming services, swimsuits, Hawaiian shirts, workout gear, experiences, etc.
I just find when it comes to your finances, there is a liberation to limiting yourself where defining the things you won’t spend money on, won’t invest in, won’t pay attention to or won’t waste your time on are often more important than the things you will partake in.
Prioritization is one of the best ways to both enjoy and save money.
Further Reading:
The Liberation of Limiting Yourself
1It should be out in a couple of weeks as a podcast.
2If I’m being honest part of the reason it never took is because I am so bad at it. It’s a frustrating game and I never had the temperament for it. Apparently the buy and hold mentality doesn’t translate to golf.