Money Monday-Value for Experience

     

     I'm not a frugal zealot as I recall the term applied to the Tightwad Gazette founder Amy Dacyczn, but I've really latched onto her term, the Wow factor. While she took this to the Nth degree, I think figuring out where the level of Wows in relation to the cost is a good exercise in money management. I apply Wow, very loosely. A Wow can be entertainment-a true Wow, but also could be importance for money, like long term investment, security, safety,  and health. Deciding what is or isn't worth putting money towards like all things, is personal and circumstantial. 

Here's a few spends in the last week we determined had enough Wow's for us.

• Take and Bake pizza brought to my sisters Saturday night for cards and birthday gathering for the sister with the March birthday. It was easy, fed a crowd and since I rarely am the get together host, I'm happy to provide the main food ( bonus- used 25% off coupon, saving $9.50)
• DH taking his turn buying lunch with one of his friends. I like that DH treats himself and spends time with his buddies while I'm working and it's his day off. Believe me, there are much more expensive treats he and this guy could take up besides burgers and a beer on a Thursday afternoon! (Friend recently got his pilots license and the cost per hour of plane rental, even pre-gas prices, is jaw dropping as a hobby.)
• Speaking of get togethers, worth the tip jar and beverage/server tip money to meet up with same friend, plus others to listen to an open mic event Sunday afternoon, featuring the wife of another of DH's friend singing with her cousin. Both this and the one before support local businesses as well, contrary to my non-Wow below. 
• Streaming services Amazon Prime, HBO Max and Netflix, and Brit Box and Acorn (thinking we might cut one of the two off). A night out at the movies on a weekend is minimally $20 for just DH and I and the girls use these codes too. We are movie people and enjoy this entertainment. Should we need to pinch pennies, we would cut back here, but for now, it stays part of our budget. 
• Annuity/Whole life monthly payment gives us both peace of mind for our family, but also will be another retirement stream of income.
• Additional life insurance for me, 15 year term that goes until I am 69, gives me peace that DH, who would be without my health insurance should I pass away before we are both Medicare eligible, and if before I intend to retire, loss of some of my pension accumulation. I don't think we are over insured. 

     Sometimes we have money regrets, some small, some large. Here's a few recent determinations that the Wow's were relatively few in comparison to the amount we spent. 

• This subjective on my part for DH, but I think his buying tacos at Taco Bell (substitute any fast food experience) was not worth the Wow's in money, gas, and time, but also in long term health risk. Granted, he could say this about my occasional coffee's out through Caribou, Starbucks, or Dunkin.
• We've nixed most magazines and newspapers coming into the house. A certain periodical subscription started up again from my MIL. Both my one SIL and I did let her know we rarely read it, though for different reasons. My SIL said she just didn't have time and they were collecting in a pile, which is what I told her as well. Really, for me it was more about this "God intervenes and life is swell" in every article or testimonial, a certain kind of spoon fed Christianity which leaves me flat. I don't like others to waste their money either, but I guess she felt I needed these messages. 
• While I used Kohl's cash, the new pj's I bought for my soon to be born great nephew and big brother do not meet my Wow, ROI other than a practical gift. Infant and toddler clothes are best being passed on or thrifted as they get such short wear time before outgrow. Second hand rules in the kiddy clothes Wows. I wish Thrifted gifts were more acceptable.
• I'm just going to say shopping in general to me rarely meets the Wow factor. I was just plain overwhelmed in Kohl's. Too much stuff crammed on shelves and hangers. More of the same rack to rack. I guess I am not in any way shape or form a recreational shopper. Let me find the occasional thrifted win, a small independent store, but for the rest, restock and replace clothes and home goods on line and only when needed is a better option.

     I don't plan to microanalyze every penny we spend. However, when faced with a choice of buying something or not, deferring a purchase or going for the splurge, the Wow factor estimate is a nice help to put our money towards things that enhance the quality of life, while  the requirements of our life are getting more and more expensive.