Monday, June 21, 2010

Rant: Different Cost Priorities

It is all a matter of personal priorities.

I might spend $75-$100 to attend a multi-course wine dinner at a favorite restaurant. At times, I have spent even more for a top-notch tasting menu. Some people will be shocked to hear that I spent that much money for dinner, and would never themselves spend so much on food. Yet those same people might easily spend $100 or more to attend a sporting event or concert.

Some people will travel to see the Superbowl or World Series. They might fly or drive there, stay a couple nights, and pay an exorbitant amount of money for a ticket to the event. This trip to watch several hours of a sporting event, can easily top $1000. And you could just as easily watch the event on TV. Yet those people might look askance at someone else who spent $1000 to attend a special dining event in another city.

Is there really much difference between how they spent their money?

Both are pleasing their senses for a limited time period and you will retain, hopefully, very pleasant memories. It is simply a matter of priorities, of which matters give us the most pleasure. As food and wine is near the top of my list, then I am willing to spend more to sate those desires. Where as someone else may care much less for food, but is a rabid Celtics fan or ardent admirer of Aerosmith, and willing to pay big bucks for an event ticket.

Some might argue that the sporting events and concerts are one of a kind events, and thus different from dinners. But is that really the case? During the regular season of sporting events, there are plenty of games you can attend. The championships are an annual event, so if you miss one year, you can always go to another. Plus, they are usually televised so you don't have to go to watch them. Concerts too often occur multiple times across the country. Sure, there might be a few one of a kind events, but that is the same with food too. There are sometimes very unique food and wine events which may never be replicated and which are just as much an event as anything else.

So, before criticizing someone else about how they spend their money, consider how you spend your own. Realize that people have different priorities.

What are your priorities when spending money on pleasures?

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