Every person has something that they like to indulge in from time to time, for some its going to a fancy restaurant, others buy themselves something nice, it changes from person to person but I believe that everyone has something that they will indulge in when they have the opportunity. For me it’s my boat, she’s a small sailboat that sleeps my fiancé and I.
Now before I get any further into this post, the idea for this topic came out of a couple comments on my April update post. Both LAMoneyguy and Low Quote suggested that I should consider selling my boat to help my get a better grip on my finances. And while I agree with them in principle it became clear to me that my boat is the one luxury that I really partake in and enjoy. Its my stress relief during the summers. Of course the boat costs me money when it comes to maintenance but there’s no loan costs and it doesn’t drag me down in my regular monthly finances. The costs for the boat are one time during the winter to pay for the marina fees and then during the summer while I spend time on her (a cost that would exist regardless).
For my fiancé and I this is our way to get out of the city and not worry about life for a couple days during the weekend. Some people have cottages unfortunately I don’t have this level of luxury, I just go to my little boat and sail around on the lake and just enjoy being out of the city. The boat could very well be considered my hobby and it probably costs me as much as one would (about 1500$ per year), heck it costs about as much as being a smoker does per year so the cost isn’t drastic.
The idea of selling the boat and using that money to pay down my existing debt is a tempting idea but the ability to de-stress also has a value to it and although this is an intangible value its probably more significant than paying down some debt. The ability to de-stress at regular intervals over the span of 5-6 months out of the year is definitely worth it to me. If I were still paying this boat off then this would be a completely different story but I got her essentially for free.
Do you have something that you indulge in that could be considered a luxury? Why do you do it?
[tags]luxury, cost, stress relief, boat[/tags]