Comments on: The Value (and Cost) of Experiences http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/ Simple, applicable personal finance advice for the modern world Fri, 10 Feb 2012 03:55:09 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Melissa http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-343618 Melissa Fri, 01 Aug 2008 17:42:25 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-343618 Since I have young children, major expensive travel is definitely out. And we have found that the more complicated the traveling, the less fun we all have. My best memories of vacations as a child are not the ones that included a plane trip (and we took plenty of those), they are the ones where we spent time together as a family. Trying to live frugally and get out of debt--this year we went to the Oregon Coast for vacation and had the most fun we have EVER had on vacation because we bought a $6 book of "Oregon Coast Quests" which are similar to letterboxing. It took up the majority of our time for days, and we learned a ton, got out into nature, and bonded as a family, without spending money on anything but a tiny amount of gas in the process (they were all fairly close to each other). It doesn't seem to take very much effort to spend a lot of money, but creating valuable family experiences is much more worth your time. Since I have young children, major expensive travel is definitely out. And we have found that the more complicated the traveling, the less fun we all have. My best memories of vacations as a child are not the ones that included a plane trip (and we took plenty of those), they are the ones where we spent time together as a family.

Trying to live frugally and get out of debt–this year we went to the Oregon Coast for vacation and had the most fun we have EVER had on vacation because we bought a $6 book of “Oregon Coast Quests” which are similar to letterboxing. It took up the majority of our time for days, and we learned a ton, got out into nature, and bonded as a family, without spending money on anything but a tiny amount of gas in the process (they were all fairly close to each other). It doesn’t seem to take very much effort to spend a lot of money, but creating valuable family experiences is much more worth your time.

]]> By: Kate http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-343419 Kate Fri, 01 Aug 2008 13:14:12 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-343419 I have to disagree here. My family takes a "major" vacation to a popular amusement park every other year, coinciding with my children's eighth birthdays. While there, the birthday child wears a birthday pin and every park employee that sees the pin wishes them happy birthday - the last one received over a hundred happy birthdays! Entire restaurants sing to them. They receive perks and special privileges the entire week. The rest of the family adores the new and exciting experiences we have and we talk about the trips endlessly. This next year we will be celebrating an eighth and an eighteenth birthday, and both children are equally excited about our trip. Incidentally, all our clothes are hand-me-down/yard sale/thrift store, our food budget is less than 1/2 the national average for a family of seven, we eat out about once a month, and our cars are well-maintained 1996 models.Amy Dacyzyn said that it doesn't matter whether you choose to be frugal to afford a large house, a big family, or a fleet of all-terrain vehicles. I choose to be frugal so I can afford to make amazing, over-the-top memories with my kids! I have to disagree here. My family takes a “major” vacation to a popular amusement park every other year, coinciding with my children’s eighth birthdays. While there, the birthday child wears a birthday pin and every park employee that sees the pin wishes them happy birthday – the last one received over a hundred happy birthdays! Entire restaurants sing to them. They receive perks and special privileges the entire week. The rest of the family adores the new and exciting experiences we have and we talk about the trips endlessly. This next year we will be celebrating an eighth and an eighteenth birthday, and both children are equally excited about our trip.
Incidentally, all our clothes are hand-me-down/yard sale/thrift store, our food budget is less than 1/2 the national average for a family of seven, we eat out about once a month, and our cars are well-maintained 1996 models.Amy Dacyzyn said that it doesn’t matter whether you choose to be frugal to afford a large house, a big family, or a fleet of all-terrain vehicles. I choose to be frugal so I can afford to make amazing, over-the-top memories with my kids!

]]> By: Frugal Bachelor http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-343148 Frugal Bachelor Fri, 01 Aug 2008 04:27:39 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-343148 "... and cigarette smoke makes me sick and seems to be common and unavoidable in most vacation venues ..." LOL, so true! I HATE smoke. International travel is my #1 passion in life and I love to leave the country, and hate being here, but in most other countries smoking is rampant and totally unregulated. In some cities (e.g. St. Petersburg, Russia) I swear I can walk down the street and smell like I've been sitting in a smoky bar all night. Funny thing is that we invented it! So you can blame it us anyways. “… and cigarette smoke makes me sick and seems to be common and unavoidable in most vacation venues …”

LOL, so true! I HATE smoke. International travel is my #1 passion in life and I love to leave the country, and hate being here, but in most other countries smoking is rampant and totally unregulated. In some cities (e.g. St. Petersburg, Russia) I swear I can walk down the street and smell like I’ve been sitting in a smoky bar all night. Funny thing is that we invented it! So you can blame it us anyways.

]]> By: Lisa http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342800 Lisa Thu, 31 Jul 2008 19:18:13 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342800 I just took a job in the town where my husband and I used to go for our favorite vacations. We plan to buy a house here. I know it won't be quite the same as vacationing, because I'll be working there, but we love it so much, I'm hoping that instead of spending money to stay here, we'll enjoy the perks being here for the cost of everyday living. I just took a job in the town where my husband and I used to go for our favorite vacations. We plan to buy a house here. I know it won’t be quite the same as vacationing, because I’ll be working there, but we love it so much, I’m hoping that instead of spending money to stay here, we’ll enjoy the perks being here for the cost of everyday living.

]]> By: louisa http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342795 louisa Thu, 31 Jul 2008 19:07:26 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342795 Regarding experiences vs. things, research shows that in general experiences have longer lasting positive impacts on happiness than buying things. I don't think anyone said they would cost less (or nothing at all) but instead that experiences may provide more value than things over the long-term. Regarding experiences vs. things, research shows that in general experiences have longer lasting positive impacts on happiness than buying things. I don’t think anyone said they would cost less (or nothing at all) but instead that experiences may provide more value than things over the long-term.

]]> By: Sophia http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342735 Sophia Thu, 31 Jul 2008 17:13:54 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342735 When you approach travel from a purely experience based perspective, I think it automatically reduces costs. For example, I would much rather fly coach and make 3 connecting flights to save $500 that I could then spend on something else. That's also why I never get souvenirs. They clutter your house, they're unnecessarily expensive, and they rarely accurately reflect the memory they are meant to represent. I also could care less about being in a luxury hotel- I just want someplace clean, safe, and well situated. I plan on spending most of my time out and about soaking up the local culture, and I couldn't bear to think of my expensive, luxurious hotel room sitting around all day while I'm not there :) Lastly, if travel just isn't your thing, don't do it. It seems people feel pressured to want to travel, as though it implies being cultured. Paris Hilton has been all over the world and it hasn't helped her much ;) When you approach travel from a purely experience based perspective, I think it automatically reduces costs. For example, I would much rather fly coach and make 3 connecting flights to save $500 that I could then spend on something else. That’s also why I never get souvenirs. They clutter your house, they’re unnecessarily expensive, and they rarely accurately reflect the memory they are meant to represent. I also could care less about being in a luxury hotel- I just want someplace clean, safe, and well situated. I plan on spending most of my time out and about soaking up the local culture, and I couldn’t bear to think of my expensive, luxurious hotel room sitting around all day while I’m not there :)

Lastly, if travel just isn’t your thing, don’t do it. It seems people feel pressured to want to travel, as though it implies being cultured. Paris Hilton has been all over the world and it hasn’t helped her much ;)

]]> By: Matt http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342733 Matt Thu, 31 Jul 2008 17:09:08 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342733 I liked the first commenters idea; my experiences aren't something that can be taken away or broken (unless I smack my head really hard somewhere). A possession can have great value but unless it actually has use and value to us personally it loose its luster and just becomes stuff. Not to mention the experiences don't necessarily have to be insanely expensive - I've taken the expensive trips, they're fun but they don't have to be THAT expensive. You mention Tim Ferriss, his trips take him to places like Argentina and Thailand rather than living it up in Paris or London (though I think he's got examples from London too). I liked the first commenters idea; my experiences aren’t something that can be taken away or broken (unless I smack my head really hard somewhere). A possession can have great value but unless it actually has use and value to us personally it loose its luster and just becomes stuff.

Not to mention the experiences don’t necessarily have to be insanely expensive – I’ve taken the expensive trips, they’re fun but they don’t have to be THAT expensive. You mention Tim Ferriss, his trips take him to places like Argentina and Thailand rather than living it up in Paris or London (though I think he’s got examples from London too).

]]> By: Stephanie http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342698 Stephanie Thu, 31 Jul 2008 16:14:04 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342698 I have trouble paying for travel because it's just not worth the amount that it costs to me. Some people don't enjoy travel. I get motion sickness when I'm not the driver, and cigarette smoke makes me sick and seems to be common and unavoidable in most vacation venues. So, I spend my extra money on things that I will enjoy in my own home. I have trouble paying for travel because it’s just not worth the amount that it costs to me. Some people don’t enjoy travel. I get motion sickness when I’m not the driver, and cigarette smoke makes me sick and seems to be common and unavoidable in most vacation venues.

So, I spend my extra money on things that I will enjoy in my own home.

]]> By: Dawn http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342655 Dawn Thu, 31 Jul 2008 15:02:28 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342655 Great post - and definitely food for thought. Thanks! Great post – and definitely food for thought. Thanks!

]]> By: Karl http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342642 Karl Thu, 31 Jul 2008 14:26:48 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342642 Grammer Correction: "What I have begun doing is budgeting a certain amount of money towards vacation/travel each MONTH" Grammer Correction:
“What I have begun doing is budgeting a certain amount of money towards vacation/travel each MONTH”

]]> By: Karl http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342641 Karl Thu, 31 Jul 2008 14:25:35 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342641 What I have begun doing is budgeting a certain amount of money towards vacation/travel each money, and socking it away in a high interest savings account. Thus I always know how much I have to spend, and approximately how long it will take to save up for a desired vacation. I'm saving right now and I'm not even sure what it will go to, but once I do, I'll be happy in the knowledge that I am already well on my way to being able to afford it. It also allows me the opportunity to take advantage of any sudden vacation opportunities (say friends invite me on a camping trip or whatnot) if they arise since I can choose to use my vacation money. What I have begun doing is budgeting a certain amount of money towards vacation/travel each money, and socking it away in a high interest savings account. Thus I always know how much I have to spend, and approximately how long it will take to save up for a desired vacation. I’m saving right now and I’m not even sure what it will go to, but once I do, I’ll be happy in the knowledge that I am already well on my way to being able to afford it. It also allows me the opportunity to take advantage of any sudden vacation opportunities (say friends invite me on a camping trip or whatnot) if they arise since I can choose to use my vacation money.

]]> By: Happily Ever After Investing http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342617 Happily Ever After Investing Thu, 31 Jul 2008 13:38:31 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342617 That peak end rule is great advice. Thanks for the idea. And gotta agree with Guinness and Frugal Dad that the 4HWW's idea of mini retirements on the cheap is great stuff - in fact at some point you may be able to do something like that. That peak end rule is great advice. Thanks for the idea.

And gotta agree with Guinness and Frugal Dad that the 4HWW’s idea of mini retirements on the cheap is great stuff – in fact at some point you may be able to do something like that.

]]> By: Susy http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342600 Susy Thu, 31 Jul 2008 13:06:04 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342600 I agree with Joe that traveling can be overrated! I often come home much more tired. I prefer leisurely vacations camping & sitting by the fire. That being said Mr. Chiots and I are saving up for the trip of our lives, a month-long cruise/tour of Alaska. We've been saving for 5 years and have a few more years to go, hopefully we enjoy it as much as we think we will. I agree with Joe that traveling can be overrated! I often come home much more tired. I prefer leisurely vacations camping & sitting by the fire.

That being said Mr. Chiots and I are saving up for the trip of our lives, a month-long cruise/tour of Alaska. We’ve been saving for 5 years and have a few more years to go, hopefully we enjoy it as much as we think we will.

]]> By: Laura in Atlanta http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342599 Laura in Atlanta Thu, 31 Jul 2008 13:04:17 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342599 Snowdrops: "But when we fly out to some place far, I would want to make the most out of the whole experience. So, I set a generous budget for that trip. It works for me." ooh . . . 'blowing' money while i travel . . . ooh, I'm so guilty of that. However, I don't regret it for a moment! Please note though, I tend to BUDGET for that sort of thing.Making a generous budget indeed. I tend to take into consideration when planning the trip, the fact that i am gonna wanna do something pertinitent to the area, that I havent thought of before leaving the US. On a once in a lifetime trip to Africa, I had a once in a lifetime opportunity to go on a 3 hour hot air balloon ride over the Masaii Mara at dawn. I didnt care how much it cost, I was GOING! ;-) It ended up being $600 with champagne breakfast incl - but even if it had been over $1500 (which is what I thought it would be) I would have done it. I mean . . . come on!!! ;-) How often do you get a chance to see the morning rituals of elephants and giraffes from a hot air balloon in Kenya? It was MIND BLOWING, and well worth every single penny, and is a memory that I cherish! So, yes . . . that is my weakness. Traveling. There is ALWAYS something that pops up that I want to experience! Snowdrops: “But when we fly out to some place far, I would want to make the most out of the whole experience. So, I set a generous budget for that trip. It works for me.”

ooh . . . ‘blowing’ money while i travel . . . ooh, I’m so guilty of that. However, I don’t regret it for a moment! Please note though, I tend to BUDGET for that sort of thing.Making a generous budget indeed. I tend to take into consideration when planning the trip, the fact that i am gonna wanna do something pertinitent to the area, that I havent thought of before leaving the US. On a once in a lifetime trip to Africa, I had a once in a lifetime opportunity to go on a 3 hour hot air balloon ride over the Masaii Mara at dawn. I didnt care how much it cost, I was GOING! ;-) It ended up being $600 with champagne breakfast incl – but even if it had been over $1500 (which is what I thought it would be) I would have done it. I mean . . . come on!!! ;-) How often do you get a chance to see the morning rituals of elephants and giraffes from a hot air balloon in Kenya? It was MIND BLOWING, and well worth every single penny, and is a memory that I cherish! So, yes . . . that is my weakness. Traveling. There is ALWAYS something that pops up that I want to experience!

]]> By: OneLoveTwoAccounts http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342595 OneLoveTwoAccounts Thu, 31 Jul 2008 12:46:30 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342595 (since then I have apparently been cut off by my browser, but lets try that again!) Since then I have been to 7 other countries, some of them as 3 day trips, some of them as 21 day trips (Australia & New Zeland) and I can talk about these trips for HOURS because I have so many powerful memories of them. I think limiting yourself to two "big" experiences on a vacation may cut down your costs while your there, but I would submit there's a good chance you'd be left with the feeling you just touched the surface of that place and have a strong longing to go back - which limits the places you travel if you end up returning in just a few years. Then again, my reason for taking interest in frugality is because I want to spend a year on the "residen-SEA" when I retire - it's a cruise ship you live on and it comes into port all over the earth - so maybe my perspective is skewed. (since then I have apparently been cut off by my browser, but lets try that again!) Since then I have been to 7 other countries, some of them as 3 day trips, some of them as 21 day trips (Australia & New Zeland) and I can talk about these trips for HOURS because I have so many powerful memories of them. I think limiting yourself to two “big” experiences on a vacation may cut down your costs while your there, but I would submit there’s a good chance you’d be left with the feeling you just touched the surface of that place and have a strong longing to go back – which limits the places you travel if you end up returning in just a few years. Then again, my reason for taking interest in frugality is because I want to spend a year on the “residen-SEA” when I retire – it’s a cruise ship you live on and it comes into port all over the earth – so maybe my perspective is skewed.

]]> By: OneLoveTwoAccounts http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342593 OneLoveTwoAccounts Thu, 31 Jul 2008 12:42:09 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342593 I'm sorry to hear so many of you say the peak-end rule is the maximum enjoyment you can find from vacations - especially you international experiences. My first international trip was Mexico when I was 15 (ok, apparently I was in Canada before I was 2 but my early memories don't go back that far), and I remember every day of that 10 day trip. It was HUGE for me. Since then I have I’m sorry to hear so many of you say the peak-end rule is the maximum enjoyment you can find from vacations – especially you international experiences. My first international trip was Mexico when I was 15 (ok, apparently I was in Canada before I was 2 but my early memories don’t go back that far), and I remember every day of that 10 day trip. It was HUGE for me. Since then I have

]]> By: Sam http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342511 Sam Thu, 31 Jul 2008 09:25:53 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342511 Isn't enjoying people/relationship qualifies an experience? The peak end rule thing is a nice concept! Something I've just discovered here. Nice post. Sam Fix My Personal Finance http://fixmypersonalfinance.com/ Isn’t enjoying people/relationship qualifies an experience? The peak end rule thing is a nice concept! Something I’ve just discovered here. Nice post.

Sam
Fix My Personal Finance
http://fixmypersonalfinance.com/

]]> By: Kristen a.k.a. The Frugal Girl http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342313 Kristen a.k.a. The Frugal Girl Thu, 31 Jul 2008 01:30:12 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342313 I think my philosophy is to enjoy people/relationships more than stuff OR experiences. When my husband and I go away by ourselves, I always say that I don't care where we go as long as it's somewhere with him, and that's the truth. I think my philosophy is to enjoy people/relationships more than stuff OR experiences. When my husband and I go away by ourselves, I always say that I don’t care where we go as long as it’s somewhere with him, and that’s the truth.

]]> By: Frugal Bachelor http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342298 Frugal Bachelor Thu, 31 Jul 2008 00:54:09 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342298 I have first hand experience with the high costs of experience - I ran up (and subsequently paid off) $67,724.89 in credit card debt, and purchased almost no things! Almost all of it was due to international travel. However, I have since changed my ways - not by cutting travel (never!), but by doing it cheaper. I believe that is cheaper to spend a day traveling in most countries abroad, than it is to spend a day just living in America, and certainly far cheaper than travel within America/Europe. My main memories abroad are not the tourist sites or "must do" activities (which I tend to do out of obligation), but just simple things like wandering down the streets, the everyday sights, the smells, and most of all the people. Which are all free! I have first hand experience with the high costs of experience – I ran up (and subsequently paid off) $67,724.89 in credit card debt, and purchased almost no things! Almost all of it was due to international travel.

However, I have since changed my ways – not by cutting travel (never!), but by doing it cheaper. I believe that is cheaper to spend a day traveling in most countries abroad, than it is to spend a day just living in America, and certainly far cheaper than travel within America/Europe. My main memories abroad are not the tourist sites or “must do” activities (which I tend to do out of obligation), but just simple things like wandering down the streets, the everyday sights, the smells, and most of all the people. Which are all free!

]]> By: Dividends4Life http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/comment-page-1/#comment-342284 Dividends4Life Wed, 30 Jul 2008 23:58:14 +0000 http://www.thesimpledollar.com/2008/07/30/the-value-and-cost-of-experiences/#comment-342284 Valuing experiences over things is a philosophical perspective that really has nothing to do with personal finances. Learning to be content with what you can afford (things or experiences) is a financial perspective. Best Wishes, D4L Valuing experiences over things is a philosophical perspective that really has nothing to do with personal finances. Learning to be content with what you can afford (things or experiences) is a financial perspective.

Best Wishes,
D4L

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