Why Investing in Something You Love Can Be Good for You
Don’t get me wrong, it’s so important to be financially fit, but when we log countless hours at work for most of our paycheck to go to our rent and little else, it often seems, well, like no fun at all. In a recent article from The New York Times, Carl Richards makes the case that sometimes it may be in our best interest to finally spend our cash on something that has serious meaning to us. He insists that 11 years ago, he needed a new bike (he was a competitive bike rider) and he had his eye on a Moots bike that cost $5,000 or so at the time. Richards recalls that this price tag was “far more money than I ever considered spending on a bike." But after hemming and hawing for a few weeks, he went out and bought the bike. Richards says that although he did have buyer’s remorse at first, he soon after decided it was a “a fantastic, rational, smart financial decision” because sometimes buying a cheaper version of what you want just does not pay off. He insists it’s more about looking long term, and offers some reasons for why we should just bite the bullet and get what we want once in a while:
- If you love it, you will keep it; if you keep it, you will use it. Love makes us do irrational things, right? If you love something, just go with it.
- It will last. Any item this expensive should be made from the best high-quality fabrics that should stand the test of time.
- It’s beautiful. You’ll want to stare at and admire this item, and it’s totally okay.
- The cognitive benefit. You’re saving yourself the time and energy of ever having to look around or doubt whether you got the best model—you did, and you know it (and can appreciate it).
You can read more about Richards's decision to buy what he loves here.
If you're ready to start saving for that one thing you truly love, buy Made By Humans' chic balloon bunny money bank to store all of your hard-earned pennies.
If you were going to invest in one item, what would it be? Why would it make you happy?