7 Things You’ll Never Regret Spending Money On

We all enjoy spending money, but not everything we spend our hard-earned money on adds value to our lives or gives us long-term pleasures. While it can be easy for many to fall into the trap of overspending, what are some of the things that you should be spending money on and not have any purchase-regret later on? What are the things that will enrich your life, increase your self-confidence, and truly make you happy?

By evaluating your values and priorities and determining what makes you happy, you will know what’s worth spending your money on. Too often, people assume the purpose of their money is to simply buy whatever they want at any given time. But that is not true. The purpose of money is not to be just spent mindlessly. Rather, when you are aware of your core values and priorities, it is easier for you to figure out a purpose for your money.

I am all for simple living. But there are a few things I love to spend money on generously. A lot of people equate simple living to being stingy or cheap. While this may be the case for some people, my own personal definition of simple living is more about being intentional with my resources and money that will make life simpler, easier, and more enjoyable and increase my overall happiness. It is about spending intentionally, and not spending mindlessly.

While I am very mindful of my spending habits, I am not afraid to spend money on things that bring me joy, give me long-term pleasure, or add value and meaning to my life. After all, simple, intentional living is all about finding time, space, and money to do more of what you love and enjoy.

Looking back, the purchases that I regret the most are the things that I bought for instant gratifications, without putting much thought into them, or things that didn’t really contribute to my overall well-being.

Your money should buy you joy that lasts, not remorse.

1. Quality products that you use every day

I firmly believe that if you use something every day, you should buy the absolute best version of it you can afford. Cheaping out on something that sees such rigorous use will mean having to buy frequent replacements, which gets expensive fast and stressful, too.

Of course, there are also practical benefits that come from using something well-designed (which typically costs more). I am talking about well-made, quality items that serve a distinct purpose in your life. As for example: fine, well-built furniture, comfortable, good quality mattress, a genuine leather purse or handbag, high quality kitchen appliances, a pair of good shoes etc. In today’s disposable society, there is something deeply gratifying about knowing you have made a good, quality purchase that will last long!

2. Learning new, beneficial things

Education is always a worthwhile investment. Whether you are thinking about switching careers, or you simply want to learn or develop a new skill, investing in your education is a great way to achieve significant personal growth. That is one of the most valuable things you should be spending your money on.

I love learning new things, preferably every day. If I am not learning and growing, I am not happy. Learning makes me feel confident and increases my level of happiness, something that money can’t buy. That’s why, I spend a good amount of money on books, and take time to read them. I believe when you invest in education, you invest in yourself and in your future.

There are some great online courses that provide knowledge and practical exercises you wouldn’t necessarily get from reading a book or trying to teach yourself. Websites like Coursera host certificates from companies and institutions like IBM, Google, Stanford, Duke, and more.

3. A comfortable home

Your home is your biggest investment and your personal sanctuary where you want to experience comfort, safety, and peace. You spend a third of your life in your home. This is the place where you take refuge from the woes of life and the insecurities of the world outside. Here you relax and unwind, connect with your family, and build a lot of memories. If it needs some additions or improvements to increase your level of comfort and overall well-being, you should spend your money on those.

If there is something you need to fix, or change, or add, do so because that is a practical and meaningful way to spend your hard-earned money. Another factor to consider when making improvements around your home is that you are not losing money by spending money on your home; it is an investment. If you spend money around the house and do so wisely, you might also be increasing the value of your home. So, if you ever need to sell your home, then you can rest assured that you will be able to earn back the money (or even more) with the value you have added.

By adding value to your home, you add value to your life for years to come.

4. Taking relaxing vacations and creating beautiful memories

People who take a break from work and enjoy relaxing vacations have lower stress levels, less risk of heart disease, a better and improved outlook on life, and more motivation to achieve goals. According to a Gallup study, people who “always make time for regular trips” had a 68.4 score on the Gallup-Heathway’s Well-Being Index, in comparison to a 51.4 Well-Being score for less frequent travelers.

A relaxing vacation allows you to be yourself without the external influences present in your routine life. Thus, it increases your happiness and overall life satisfaction. A study from the Marshfield Clinic in Wisconsin found that women who vacation at least twice a year are less likely to suffer from depression and chronic stress than women who vacation less than once every two years.

Most people tend to be happier when they are traveling and don’t have to worry about work. However, one of the more interesting takeaways from a Cornell University study is that people also experience a direct increase in happiness from just planning a trip.

The study found that the anticipation of taking a vacation is far greater than the anticipation of acquiring a physical possession. Thus, the benefits of traveling begin well before the trip does.

I love traveling and creating beautiful memories with my family. It won’t be an exaggeration if I say that traveling and visiting new places is a huge priority in my life. It’s so much fun! It improves your outlook on life, and you get to learn a lot about the world.

5. Your mental & physical health

Health is invaluable. And yet, many of us neglect it in favor of short-term gains. When you are ill or laying on a hospital bed, having a few hundred extra dollars in your bank account or being recognized as the top-performing employee at work will be of little comfort.

You have to take care of yourself. There is no getting around it if you actually want to be alive and healthy when your hard work produces its finest yields. Here are some health-related items you might consider spending more on if you have the means: healthy food, gym membership, personal hobbies, proper shoes, good eye-glasses, comfortable, good quality mattress, physical therapy, annual physical checkup/medical checkups, and other paid services that will reduce your mental and physical stress and offer you relief.

6. Gifts & charity

Being charitable and contributing to the causes you believe in is another meaningful way to spend your hard-earned money that you will never regret. It can change other people’s lives for better, and bring you immense joy and long-term pleasure.

In 2017, researchers at the University of Zurich told 50 people they would be receiving 100 Swiss francs ($100 U.S.) over the course of four weeks. Half of the people were instructed to spend the money on themselves, and the other half were asked to spend it on someone they knew. At the end of the experiment, the people who gave away the money rather than kept it for themselves were happier. What’s more, the amount given away didn’t really matter—people felt the same whether they were giving away a little bit of the money or all of it.

The lesson that was learnt from this: Even doing something small, like buying a coffee for a friend who lost her job, buying and leaving some groceries at your old, sick neighbor’s door, or giving a dollar or two to a person in need, can make a difference in your level of happiness over the course of a day. 

Giving to charity and helping others – both known and unknown – is a great way to practice humanity and show your support and compassion to the people in need across the world. You may not be able to donate or give much at once, but a little kindness can truly go a long way. And the pure happiness you derive from that act of kindness is worth spending your money.

7. Visiting your loved ones

Your quality of life largely depends on the quality of your relationships. Taking time and spending money on nurturing the most important relationships in your life should get priority. Sometimes you may need to travel to a different place to visit your loved ones to be able to spend some quality time with them, or to rekindle the relationship. That takes money.

If you have important people in your life who live far from you, and you haven’t seen each other in months or years, spending money on traveling and visiting them to build memories is worthwhile.

Parting words

Spending money intentionally and meaningfully needs you to evaluate your values and priorities. When you focus on your values, it is easier for you to resist spending money on things that don’t enrich your life. Nobody can tell you how to spend your money; ultimately the choice is yours. However, there are ways to make the most of the money you make.

Don’t blow your money on short-term pleasures. Instead, you can use your money to build a better experience for you and your family, improve your mental health, and enjoy the luxuries in life, such as traveling! Consider these tips to help you figure out how you should spend your extra money in a way that can improve your wellbeing as well as others that you will never regret.

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