What Do You Love Spending Money On - Rob's Edition

Last week we shared what Scott loves to spend money on, hates to spend money on, and what’s he currently saving for. This week Rob gives his input from a more senior point of view. For the younger readers, this may give a little insight into how your parents think.

What I love spending money on

Grandchildren and children (in that order)

I guess as we age, we realize life will end and precious moments will be lost. But the thing to remember is that I control the spending. It’s budgeted and I stay within my means. Whether trips to the west coast, birthdays, or sponsoring something they are participating in, is a win-win for both of us. But I will never put it on a credit card or go into debt to do so.

Charitable causes that I strongly believe in

In the past, I have donated my time in lieu of the dollars because I did not have the money to support them. Today, I tend to support causes financially in a bigger way. It’s always budgeted in advance and after several years, I change charities to keep it interesting.

What I hate spending money on

Things.

Most things that are flashy, shiny, and sold to people to impress others are things I really don’t need. I’m a fairly down to earth guy and having a shiny ring or watch isn’t such a big deal for me. For cars, a smaller one is okay, better on gas, and gets me from point “A” to point “B” in the same time. Although I must admit, I do have a flashy pair of running shoes, but they are very comfortable and don’t give me blisters. I also think that as I aged, my tastes got simpler for many things in life.

Currently saving for

I guess for me this one is a no brainer – retirement. I have been self-employed for over 35 years with no employer pension, so I am the only person that will look after that older person I will someday be.