...BTW, nice clothes are ALWAYS better than cheap ones...
...I guess to me buying unneeded RE is being what you described, but to each their own.
Habits differ. People here are buying expensive boots...which I never understood, but it is interesting.
I would definitely splurge on a car in the future, just to try several brands over my life..used to drive bland cars, now a "muscular' car, then maybe some vroom vroom car (when btc is at a cool million)...
Nice clothes are somehow better than cheap ones? Nice clothes can be cheap and expensive ones are often garbage. A $15 pair of sturdy Levis or Wrangler jeans will almost always outlast a pair of designer jeans costing hundreds. Buying quality is what matters. A pair of Blundstone boots may be expensive but they are made to last (in more than one way!
). Nike footwear on the other hand is just overpriced garbage.
Unneeded real estate? The house I bought last year is not only an investment but it also provides rental revenues and a much larger living space for us plus a totally private rooftop patio. The lake I bought a couple of years ago may not provide any immediate revenues but it does save on what I used to pay to rent a rural retreat. It also represents a considerable long-term investment.
Wasting money on a car is (to me) just silly. Unlike land which is an appreciating asset, cars are a depreciating asset. They also cost a lot to maintain and operate. Here in downtown Toronto just a parking space costs several hundreds of dollars per month. You can rent your parking space out for hundreds if you don't have a car. Parking lots and meters are also expensive, not to mention the inevitable tickets. Then there's insurance, fuel, maintenance, licensing costs, etc. I figure the cost of owning a car in the city is thousands per month. I can take several taxis per day for less than that and save the hassle of driving. Maybe when bitcoins cost millions I'll be able to afford a full-time chauffeur, until then I'll make do with part-time drivers, just like having a part-time cleaning lady. Do some people get as attached to their vacuum cleaners as they do to their cars? Also, driving impairs drinking.
To each their own.
