By: Joey Casolaro, CFP®
Growing up, I always had a natural tendency to save money. Every birthday and Christmas gift went into my piggy bank and, as I got older, into a savings account. When I turned 18, my dad introduced me to investing, and I was instantly hooked. I started reading every investment book I could get my hands on, and any money I earned from part-time jobs during college went straight into my investment account.
When I began my first full-time job, I continued that same mindset, focusing on saving as much as possible. Then I came across a personal finance book that changed the way I thought about money: Just Keep Buying by Nick Maggiulli. One of the book's central messages is that personal finance shouldn't be about maximizing savings at the expense of enjoying life. Instead, it should be about finding a sustainable balance between preparing for the future and enjoying the present. Extreme frugality can lead to unnecessary sacrifices without necessarily creating greater happiness. That perspective helped me realize that money is simply a tool to improve our lives, not an end in itself.
With that in mind, here are three ways I spend money that some people might consider wasteful, but that I believe are worth every dollar.
Three Gym Memberships
For the past four years, I've maintained three different gym memberships, and I still have all three today. At first glance, this might seem excessive, but each membership serves a different purpose. Living in Morristown and working in Wayne, I found a family-owned gym in Boonton that sits conveniently along my commute. Because it's rarely crowded and has showers, I can complete my workouts efficiently without waiting for equipment and make it to work before 8: 30am.
I also belong to Crunch Fitness in Morristown. While it can be busy during the week, it's much quieter on weekends and is within walking distance of my apartment. Walking to the gym lets me get outside, add extra steps to my day, and save time.
My third membership is to a Brazilian jiu-jitsu gym. I picked up the sport six years ago, and it has become one of my favorite hobbies. Beyond the physical benefits, it provides a strong sense of community and enjoyment.
These memberships help me stay healthy, save time, and do activities I genuinely enjoy. To me, that's money well spent.
Paying Someone Else to Grocery Shop
For years, Sunday afternoons meant grocery shopping. Between finding everything we needed, waiting in line, and loading the car, my girlfriend and I would easily spend 30 minutes or more each week. Then we discovered ShopRite's pickup service. Now we simply select our groceries through the app, choose a pickup time, and the shopping is done for us. For about $5, we save time and eliminate a task neither of us particularly enjoys.
Sometimes spending a little money to buy back your time can be one of the best investments you make.
Driving 20 Minutes for Eggs
Since high school, I've eaten at least three eggs almost every day. Not only are eggs one of my favorite foods, but they are also among the most nutrient-dense foods available, providing a wide variety of vitamins and minerals. The problem, however, is that the healthiest type of eggs (pasture-raised, meaning the hens spend significant time outdoors on pasture, eating insects and grasses) can be very expensive. Last year, I came across a farm in Randolph that sells fresh eggs at a very inexpensive cost. Although I have to drive 20 minutes away, the cost savings and orange yolks are worth the 40-minute commute.
Sometimes value isn't just about convenience, it's about getting something you truly appreciate.
There is no perfect way to spend money. The goal isn't to optimize every dollar or deprive yourself of things you enjoy. Instead, focus on spending intentionally. If your money brings you happiness, saves you time, improves your health, or frees you from tasks you dislike, it may be money well spent.
Finding the right balance between saving for the future and enjoying the present is one of the most important aspects of financial planning. If you're unsure how much you should be saving, or how to balance your long-term goals with enjoying life today, we'd be happy to help.
Joey Casolaro is a CERTIFIED FINANCIAL PLANNER® at HIGHLAND Financial Advisors, a Fee-Only fiduciary wealth advisory firm that offers comprehensive financial planning, retirement planning, and investment management. Joey graduated from the University of South Florida with a bachelor’s degree in personal finance and successfully passed the CFP national exam in 2021. Joey enjoys working out, spending time outdoors, and hanging out with family and friends in his free time.
The foregoing content reflects the opinions of Highland Financial Advisors, LLC, and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct.
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The above article was written with the assistance of artificial intelligence (AI).