[USER]

For me I love nice cars and I spend around 1500 / mo into it (modifying, buying parts, buying cars, ect). A normal example that most people is going on vacations.

What do you you set aside to be play money that you can use a month?

[Sid]

I think you pick and choose. I gave up fine dining and expensive martinis out. I also stopped the frivolous spending. (Clothes I didn’t need, etc.) And I pick my bigger trips selectively.

[Schaden]

Nope, the point of retire is to enjoy your life, which includes your hobbies. If you stop working but cannot enjoy your life, then you’re simply unemployed, not retired.

Retire when you have enough money where you can enjoy your hobbies without working.

Useful: Need some advice on how to approach the 15% rule for retirement

[Amanda]

Well I’m you case no…. But everyone gets to decide what’s right for them. I set aside money for travel because that brings me joy. My kids play travel sports. My husband and son gage a golf club membership. These thing’s definitely set back our retirement age but what good is living if you aren’t enjoying it.

[Krupa]

Definitely not! As long as your income supports it! My husband and I love cars as well, we have 5. We aren’t guaranteed tomorrow, so what good is that FIRE money if you can’t enjoy life? I’ve always said I will try to cut down on expenses where I can, but I will never say no to a weekend vacation with friends or family or when my husband wants a new part for his car he’s building.

[Kim]

Like everything else in life, it depends. Let’s say your goal is to save 50% of your check and your check is $10,000/mo. You can allocate $5,000/mo however you like. I buy Air Jordan shoes but others might spend that on yoga classes and granola bars. The end result is objective (50% saved) but the usage was subjective (personal to you). If your $1,500/mo spent on cars, still gets you where you want to be financially at some point in the future, I wouldn’t give it up; I believe “living” should be part of any financial planning. I have 4 cars and one of them is a BMW Alpina B7, so I enjoy car stuff too. I get it.

Related: Should I stop my retirement for a little while to save as much as I can?

[Amanda]

When I was focused on retiring early there was no such thing as play money. I retired at 35. Now I have play money.

[Amy]

Yes, and I did. I value peace and time over a corrupt workplace of favoritism that was happening.

[Alexus]

Nope! There’s a balance for sure, but you’re not guaranteed a second on this earth. I’ve heard so many stories of people dying right after they retired. Much older than my goal, of course, but the idea is the same. I sacrifice some things to retire early but I’m still going to enjoy the moment. And if that means spending $$ on travel, eating out, or craft supplies, so be it. FIRE for me is just focusing on finding that balance versus doing the bare minimum for retirement and using the rest as fun money.

[Alexandra]

Depends on what it is and what’s important- $1500/month is quite an expensive hobby. I would absolutely cut down on that, not give it up, just cut back because being happy and enjoying things now IS important- we aren’t guaranteed another day much less 10 years from now.

[Author]

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