Is it ok to have one unnecessary expense?

[skives]

I'm just thinking about when I move out that I don't want to spend on stuff I don't need but one thing I think I want to spend money on is a membership to a gym which is not necessarily a need but I think it's a good investment cause it helps me stay healthy. Does anyone have an opinion on whether this is wasteful or not?

[Petunia 100]

It's perfectly fine to have unnecessary expenses, provided you have covered all of your necessary expenses first, are saving and investing, and aren't going into debt for consumer items. Finances (like life!) is all about balance.

[MonkeyMama]

It's perfectly fine to have unnecessary expenses, provided you have covered all of your necessary expenses first, are saving and investing, and aren't going into debt for consumer items. Finances (like life!) is all about balance.

Agreed.

Even if your budget is restricted, there are discount gyms, etc. I've had a gym membership most years, but never paid more than $15-$30 per month (for one or two of us). That said, a bigger gym expense may fit in your budget.

[LuckyRobin]

If you actually use the membership and it keeps you fit, I wouldn't consider it wasteful.

[kork13]

It's perfectly fine to have unnecessary expenses, provided you have covered all of your necessary expenses first, are saving and investing, and aren't going into debt for consumer items. Finances (like life!) is all about balance.

Well said.

I've got numerous "unnecessary expenses". But I'm totally fine with that, because they are a part of making my life enjoyable, and I can easily afford them after taking care of my financial obligations, debts, savings, and whatever else. Take your frivolities and enjoy them!

[marvholly]

IF you have the room (necessities covered + savings)and you do not allow yourself some wants in your budget life will be BORING and friends/family will come to hate you and you will hate yourself and your life because:

no holiday/bday/anniversary/wedding gifts
no going anywhere ever that cost $$ (meals out, movies, plays, concerts.....)
no going ANYWHERE but home/school/work because gas/bus fare costs $$
no new clothes, shoes
no nice home made meals - eat ramen or beans & rice, no steak or chicken
no internet - library is good enough but you will not have the info you might like

[creditcardfree]

Agree with all the others. We have gym memberships, netflix, a newspaper subscription, cell phones...all which are unnecessary to different degrees. I say go for that membership. Working out feels great and is good for your body.

[bjl584]

I have a gym membership and I don't consider it unnecessary or wasteful at all. It keeps me active and in shape, and the membership fee is just part of my monthly expenses. I budget for it, so it's not an issue at all.

[BuckyBadger]

If you can afford something -- while meeting your other goals (saving, etc.) -- and it makes you happy, then you should do it. I have a hobby that costs many thousands of dollars a year. But it makes me happy, it makes my husband happy that I am happy, and I specifically went to school for a degree and then got a job where I work very hard to be able to afford an expensive hobby.

So in my opinion, as long as you can afford it and it makes you happy, you should be free to spend your excess money in any way that you want.

[feh]

Taking care of yourself should be in everybody's budget, IMO.

However, that doesn't necessarily mean a gym membership. I exercise regularly (5 days a week), and I do it cheaply:
- run once or twice a week (on the roads near my house)
- bike to work about 3 days a week (summer)
- swim 3 times a week (in the winter - $40 for the season at community pool)
- lift weights once a week (bench and free weights in my basement)

No gym membership necessary!

[disneysteve]

I wish I only had one unnecessary expense.

Pretty much everything beyond basic food, shelter and clothing can be viewed as unnecessary. Going out to eat? Unnecessary. Cable TV? Unnecessary. Cell phone, magazine subscription, jewelry, hair salon, computer... all unnecessary.

I agree with the others. It all needs to balance in the big picture. If you have your EF, are debt-free, are saving adequately for retirement and have money beyond that, there is nothing wrong with enjoying life.