Need an easy way to exercise at home, and have a little extra space? Get a treadmill.
Finding time to work out can be challenging. This is especially true if you don’t have an on-site fitness center, or don’t like working out in front of other people. Some will develop their own exercise routine they can do at home, but that’s not always rigorous enough. So, if you have the room in your apartment, consider buying a treadmill.
Treadmills are a great workout tool. They can help you burn fat, lose weight and get the cardio in you need to maintain heart health. Using one 3-4 times per week, for 30 minutes, can make an impact on your health.
Whether you’ve got a spare room to devote to working out, or can only spare a small corner of your bedroom, you can work out at home. Check out the best treadmills for apartments to start and consider adding one to your own rental.
When you’ve got limited space
Source: Amazon.com
Let’s start with the most common problem of bringing a treadmill into your apartment — space. If you don’t have enough of it but want an easier way to get exercise, consider a treadmill slim enough to live under existing furniture, or even upright behind a bookshelf.
The CITYSPORTS Treadmill is ultra thin and easy to store. It has a silent belt, so you won’t disturb others and a strong motor for a long life. Bluetooth speakers, integrated into the treadmill, let you connect to your devices for musical accompaniment. Take it out when you want to use it and store it out of sight when you’re done exercising, no extra space needed.
When you need to keep it quiet
If you’ve got a neighbor who jumps at the chance to file a noise complaint against you, don’t worry. Treadmills are getting quieter so you can use them in your apartment no matter who lives next door.
Known as one of the quietest treadmills out there, the NordicTrack Commercial X22i is a little pricey. But, it gives you so much more than just somewhere inside your apartment to run.
This incline treadmill has Quiet Drive incline tech and up to 40 percent incline control. It comes with a 22-inch touchscreen and streams workout-on-demand from around the world. It’s a complete package.
When you need extra cushioning
Not everyone who loves exercise gets excited about the idea of using a treadmill. If you suffer from muscle or joint pain, the cardio workout you get running in place isn’t worth the stiff joints and inflammation you feel after. However, finding a treadmill with a more cushioned track could make a world of difference.
The SOLE F63 is a great treadmill when you need more support for your ankles, knees and even hips. Inclining up to 15 levels, with six preset programs, the treadmill has the bonus feature of including certain controls within the armrests. You don’t have to reach for the screen.
When you need to do a pre-set workout
Source: Amazon.com
A treadmill with a few more bells and whistles may be necessary if you’re looking to take advantage of pre-existing exercise routines. Not having to think about how many minutes you run or walk, and what elevation and speed you’re going, can make your workout feel less tedious.
With 24 presets and two custom programs, the TRX2500 Performance Series Treadmill from XTERRA Fitness can really make a difference. Smooth and powerful, there’s an easy-to-read LCD screen that keeps you on top of your stats and your workout, while the existing programs can help keep you motivated. You can also use this treadmill in manual mode if you need to shorten your workout, or simply want to take a walk.
When you don’t want to deal with a motor
Motorization isn’t a part of all treadmills. A benefit of having one without a motor is you don’t need to set it up near an electrical outlet. These treadmills can go anywhere because they run on your movement, and while that means a little extra exertion on your part, it could also make your workout feel more rewarding.
The Assault Fitness AirRunner, for example, enables you to burn up to 30 percent more calories than a motorized treadmill. There’s zero electrical connection, and using it gives you a more natural feel, promoting an efficient stride. Lightweight and portable, without depending on electricity, you can move this treadmill out of the living room when friends come over and slide it right back in the next day when it’s time to exercise.
When you need some extra ‘smarts’
Features vary from treadmill to treadmill, but when you need something that’s a little smarter than average, look for features like an interactive touchscreen or integration with classes on demand.
A solid choice in this category is the NordicTrack Commercial 1750. Grab one with an iFit Membership and you’ll have a great machine that streams live and on-demand workouts from around the globe. The 10-inch HD touchscreen is easy to use, and the treadmill has a SMART-Response motor to make using the machine more effective. When you’re done using it, this treadmill folds up and locks into place for sleeker storage.
When you don’t want to overspend on a treadmill
Source: Dick’s Sporting Goods
A lot of treadmills out there can easily break the bank if money is tight. But, you don’t have to invest thousands to exercise in your apartment. Treadmills often go on sale but are also available in a wide range of price points.
The Horizon Fitness T101 Series Treadmill costs under $1,000. It integrates with Bluetooth, can go between 0-10 MPH and has five goal-oriented workout programs. The incline extends up to 10 percent and EasyDial controls, right on the hand grips, make speed and incline adjustments easy. You won’t even notice you’ve paid less for this treadmill once you start to use it, it’s so full of extras.
When you just want a treadmill to walk on
Most treadmills aren’t made specifically to walk on, but there are certain models that serve you better as a walker than a runner. Treadmills in this category run the gamut when it comes to price and features. If you want one that’s great for walking and for small spaces, check out the Echelon Stride Treadmill.
This basic treadmill is perfect for walking, and for an additional membership cost, you can access plenty of workouts to keep you motivated to stay on your feet. Even better, when the treadmill folds up, with its auto-fold feature, it’s only 10 inches tall. Auto-fold also makes it easy to store this treadmill out of the way when not in use.
When you want to work and walk at the same time
Any treadmill without armrests and a top display will fit under a desk if you want to work and walk at the same time, but there are also all-in-one treadmills out there. If you want the option to be on your feet and moving most of the day when you’re working from home, you can find a desk-and-treadmill combination.
Although a bit more expensive, this splurge will be worth it when you don’t have to think about stopping work to work out. The LifeSpan Fitness TR1200-Power Treadmill Desk has an adjusting desktop to get it to the perfect height while you walk. This combination workstation is small and compact, with a good-sized desk.
Walking while you work can help burn calories while you decrease stress and reduce the low back pain caused by sitting too long. It’s a win-win without an extra furniture footprint in your apartment.
The best treadmills for apartments
There are so many great treadmills out there when it comes to affordability, function and features. You’ll have no trouble finding one that fits into your apartment, no matter how much room you have to spare. Have fun shopping.
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Inside: This guide provides tips on frugal home must haves, so you can save money and live responsibly, while also enjoying a healthy environment and good health.
Are you looking for ways to save money and still have a clean and organized home?
If so, you are in the right place. In this blog post, I am going to share with you frugal home must haves that will help you save money.
But before we get started, let me ask you a question:
Do you ever feel like your home is a never-ending cycle of cleaning and organizing? That you use products that are for one use only and know there are better products out there.
If so, you are not alone. Most people feel this way at some point in their lives.
The good news is that there are ways to save money and start to incorporate bits and pieces of a frugal lifestyle into your life.
So, without further ado, here are 19 frugal home must-haves to help you save money:
What is frugality?
Frugality is the practice of being very intentional with your spending, prioritizing the things that matter the most to you, and cutting back on spending in other areas.
It doesn’t necessarily mean sacrificing your favorite brand of cereal, living without napkins, or giving up on adventurous vacations. Instead, frugality is about making smart money choices and learning to live below your means.
It is not the same as being cheap, which involves saving money at the expense of others.
Rather, being frugal means being economical with your money, making it stretch further so you can do more with less.
Frugal living is a journey, not a destination, and it starts with creating a budget that you can live with and looking for ways to save money.
What are the most frugal must-haves for a home?
The most important frugal must haves for you are those that save you money and time.
As such, what you value the most will differ from me. However, there are some basic underlying frugal items that every house needs. So, we will cover those bloew.
More importantly, more individuals are looking to become frugal green to save the environment as well as money.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
best frugal home must-haves for saving money
Home is where the heart is, and we want our homes to be clean, organized, and comfortable without spending a fortune.
However, sometimes it can be tough to keep up with everything – especially on a budget.
Here are 19 frugal home must-haves that will help you save money and make your life easier!
1. Microfiber Cloths
Microfiber cloths are a frugal home must-have for saving money. Yep, I drive my mother-in-law crazy because I do not use paper towels.
They are cost-effective as compared to disposable cleaning supplies and can be used for various cleaning tasks around the house. They are more effective than cotton cloths as they rarely leave smears and dry as they wipe.
Plus, microfiber cloths can be color-coded for different cleaning tasks. To ensure their effectiveness and longevity, microfiber cloths should be washed separately from other laundry and should not be washed with fabric softeners or bleach.
2. Drying Rack
Owning a drying rack can be a smart investment for those looking to save money and energy in the long run. There are many types of drying racks available, from outdoor rotary clotheslines to indoor airers.
Personally, we use our drying rack ALL.THE.TIME!
Plus, using a drying rack is an eco-friendly alternative to using a dryer, which can reduce your carbon footprint and help you live a more sustainable lifestyle.
This is the drying rack we personally own and love.
3. Instant Pot or Crock Pot
Move over crockpot, the Instant Pot is the hottest trend to stay! I’ll admit I was hesitant about owning an instant pot, but have decided it was well worth the investment for our frugal home.
An instant pot is a frugal must-have for any home looking to save money while still enjoying delicious meals. It is perfect for busy people who want to come home to a warm meal without the hassle of cooking.
Instant pots are not just about cooking one meal; they are perfect for batch-cooking frugal meals. This allows you to cook multiple meals in one go, freezing the extra for another day.
You can also use cheaper cuts of meat and tenderize them in the instant pot. Some examples of meals that can be made in a crock pot include soups, stews, chilis, and even whole chicken for homemade stock.
An instant pot is an efficient and cost-effective way to enjoy home-cooked meals without breaking the bank.
Here is the instant pot / air fryer combe we personally own.
4. Reusable Grocery Bags
Many states, including ours, now charge 10 cents per bag when checking out at any store!
By bringing your own bags, you can avoid the extra fees charged for plastic bags at many stores.
Additionally, reusable bags are sturdier and can hold more items, reducing the need for multiple bags.
Switching to reusable bags also helps reduce plastic waste, which is harmful to the environment. So, invest in some reusable bags and make a positive impact on your wallet and the planet.
5. Beeswax Wraps
Beeswax wraps are a fantastic frugal and eco-friendly alternative to plastic wraps.
Made from organic cotton and covered in beeswax, they are versatile and come in various sizes. They can replace both cling film and foil, lasting for a long time as long as they are not washed in hot water or put in the microwave.
These wraps can save money in the long run as they are reusable and can be used for a variety of purposes, from wrapping bread to covering bowls.
To care for them, wash them in cool soapy water and avoid hot water or the microwave. With beeswax wraps, you can be frugal and eco-friendly at the same time!
6. Charging Stations To Reduce Energy
Standby losses refer to the energy consumed by electronic devices even when they are turned off but still plugged in. For instance, a TV on standby mode, a phone charger left plugged in, or a coffee maker are all examples of appliances that contribute to standby losses.
These losses can significantly impact your energy bill and add up over time.
However, there are practical ways to reduce standby losses and save money.
Use an energy-efficient power strip to plug in multiple devices and switch them off in one go.
Invest in a “smart” power strip that automatically turns off devices when they are not in use.
By taking these steps, you can reduce standby losses and save money on your energy bills.
7. Glass Jars
Glass jars are incredibly versatile and can be used for storing everything.
Using glass jars is also cost-effective since they can be reused over and over again.
With their airtight seals, they are perfect for storing food items, and their clear glass makes it easy to see what’s inside. They are also great for organizing small items like pens, hair bands, and cut flowers.
Overall, using glass jars is an easy way to save money while keeping your home clean and organized.
8. Hot Tea Maker Electric Glass Kettle
This is the updated version of the traditional teapot due to its durability, versatility, and cost-effectiveness.
It can be used to make a large amount of tea at once, making it perfect for entertaining guests or for daily use.
Additionally, it is a one-time investment that can last for years, which saves money in the long run.
Also, by using loose tea leaves instead of tea bags, you can also save money and reduce waste.
9. Coffee Pot
If you’re a coffee lover, you know how quickly buying coffee on a daily basis can add up and become a significant expense.
However, there is a simple solution to this problem – investing in a coffee pot you love.
By brewing your coffee at home, you can save several dollars each week, which can add up to a considerable amount over time.
Moreover, if you’re someone who enjoys lattes, there are coffee pots available that can make lattes at home. This means that you don’t have to spend a fortune on lattes from coffee shops or cafes.
With a good coffee maker, you can enjoy the great taste of coffee at home while saving money.
If you invest in a single-use coffee maker, then make sure you are using reusable K-cups.
10. Laundry Bags
Seriously, this was the greatest idea I found out from a baseball mom. Never worry about mixing up clothes between family members again!
By using laundry bags, you prevent clothes from getting lost or mixed up in the wash, and can also help prolong the life of delicate fabrics.
To care for your laundry bags, simply toss them in the washing machine with your laundry and air dry.
11. Baking Soda
Baking soda is a frugal home must-have that can be used for cleaning and organizing your home in many ways.
It is a multipurpose cleaner and deodorizer that can be used to clean surfaces, carpets, laundry, even fruits and vegetables.
By mixing baking soda with water, you can create a paste that can be used to clean almost everything. It can also be used to deodorize your refrigerator, carpets, and shoes. Additionally, you can sprinkle baking soda on your mattress and vacuum it up to remove odors.
Overall, baking soda is a versatile and inexpensive household item that can help you keep your home clean and fresh.
12. Vinegar
Vinegar is an incredibly versatile and cost-effective must-have for any frugal home. It can be used for cleaning and organizing in a variety of ways.
Vinegar is effective in removing stains, cleaning surfaces, and freshening up the home. It is also safe to use around children and pets, making it a great alternative to harsh chemical cleaners.
For cleaning surfaces, vinegar can be mixed with water and used to clean windows, mirrors, and countertops. It can also be used to remove stains from carpets and clothing. In addition, vinegar can be used to freshen up the home by adding a few drops to a diffuser or spraying it in the air.
To incorporate vinegar into daily cleaning routines, it can be added to a spray bottle with water and used to clean surfaces as needed. It can also be used as a natural fabric softener in the laundry by adding a cup to the rinse cycle.
When using vinegar, it should not be used on certain surfaces such as marble or granite as it can cause damage.
13. Reusable Water Bottles
Using reusable water bottles is an important step towards a more frugal and eco-friendly lifestyle.
It can save money by eliminating the need to buy single-use plastic water bottles, and it also helps reduce waste and pollution.
When choosing a reusable water bottle, look for one with a filter to ensure fresh water anytime, anywhere.
Opt for bottles made from durable and non-toxic materials such as stainless steel or glass.
Keeping a reusable water bottle also promotes healthy hydration habits.
14. A Large Freezer
A large freezer in your home is a frugal must-have for many reasons.
Not only does it provide money-saving opportunities by allowing you to stockpile food on a budget and freeze extra portions from batch cooking, but it also helps you take advantage of great deals you find at the store.
With a well-stocked freezer, you can shop your stock first and freeze nearly everything you buy for later use.
Additionally, having a large freezer can help you save on your electricity bill by allowing you to fill it up to two-thirds capacity, which makes it more efficient.
Also, you may want to purchase this freezer lock to make sure it stays closed.
15. Reusable Food Storage Containers
Using reusable food storage containers like BPA-free plastic or glass containers is an effective way to reduce waste and promote eco-friendly living.
BPA-free plastic containers are ideal for those who have limited space for storage and prefer lightweight and durable containers. They are freezer, microwave, and steamer safe, making them perfect for storing and reheating various types of food.
On the other hand, glass containers are an excellent alternative to plastic containers. They are incredibly environmentally friendly and can be reused over and over again, making them an indispensable tool in your quest for simple and frugal home living.
Since they are also reusable, saving you money in the long run. You only need a few of them for your daily use.
16. Reusable Food Bags
Reusable food bags are a great way to reduce your carbon footprint and be more eco-friendly in your daily life. These bags are made from BPA-free materials and are designed to be used over and over again, making them a great alternative to single-use plastic bags.
Here are the benefits of reusable food bags:
Versatile and can be used for a variety of purposes as they are freezer, microwave, and steamer safe, making them perfect for storing, heating, and cooking food.
Perfect for packing lunches and snacks, as they are lightweight and easy to carry.
Durable and long-lasting.
Ability to use them again and again, reducing the amount of waste that you produce.
Unlike plastic bags, which can easily tear or break, these bags are made from sturdy materials that can withstand daily use.
While the initial cost of these bags may be higher than that of plastic bags, they will pay for themselves over time as you won’t have to keep buying new bags. Plus, they are often sold in sets, so you can get multiple bags for a lower price.
17. Basic Toolkit for DIY Projects
A basic toolkit can be a valuable asset for homeowners as it can come in handy for simple home repairs and save money on professional services.
With the right tools and some DIY know-how, you can tackle many basic home repairs and maintenance tasks yourself, without having to hire a professional.
DIY tutorials are available online, and many of them are free. You can also attend community classes or evening courses at local colleges to learn DIY skills.
Also, you can look at sharing tools with neighbors or friends can help you save money and build a sense of community.
18. Storage Organization
Oh my goodness, there is no way I could manage without serious storage organization for our small house.
Thankfully, there are plenty of storage organization options to make sure you use optimal space in every single corner of your house.
Here are some of my favorite storage organization tricks:
19. Rotary Clothes Line
Owning a rotary clothesline is a must-have for frugal homeowners.
Not only is it a one-time cost that lasts for years, but it also helps save money on electricity bills as line drying reduces creases and eliminates the need for a dryer.
Additionally, a rotary clothesline takes up less space than a bulky dryer or indoor drying rack.
By using a rotary clothesline, you can enjoy the benefits of fresh, sun-dried laundry while saving money and space. It’s a win-win situation for both your wallet and your home.
20. Essential Oils
Essential oils can be used in a variety of ways, including for homemade beauty and cleaning products. For example, adding 15 drops of peppermint essential oil to a cup of baking soda can create a refreshing and invigorating scrub.
Essential oils can also be added to homemade shampoo and body wash recipes to provide a pleasant scent and potential therapeutic benefits. Some popular essential oils for these purposes include rosemary, lavender, and peppermint.
In addition to beauty and cleaning products, essential oils can also be used for aromatherapy purposes. Simply adding a few drops of essential oil to a diffuser or inhaling the scent directly can provide benefits such as stress relief and relaxation.
It’s important to note that essential oils should always be used with caution and according to their recommended guidelines, as they can be potent and may cause adverse reactions if not used correctly.
21. Rain Collector
Using a rain collector to water your vegetable garden is a great way to be eco-friendly and frugal at the same time.
This method can help you save money on your water bill and reduce your carbon footprint.
Rain collectors can be purchased for as little as $50 and provide a regular supply of free water throughout the year.
To use a rain collector for your vegetable garden, set it up in a location that is convenient for you to access and close to your garden. When it rains, the water will collect in the butt and be ready for use when you need it. You can use a watering can or attach a hose to the butt for easy watering.
Rainwater is especially good for watering vegetables because it is free of chemicals and additives that may be present in tap water.
22. Countertop Composter
A countertop composter is a great addition to a frugal home. It is a small, portable compost bin that can be kept on your kitchen counter, making it easy to compost food scraps and other organic waste.
By composting your food scraps, you can reduce the amount of waste that goes into landfills, which is not only good for the environment but also saves you money on garbage bags and waste disposal fees.
Countertop composters are available in various sizes and styles, so you can choose one that fits your needs and budget.
Some countertop composters are made of stainless steel or ceramic and have a sleek, modern look that blends in with your kitchen decor.
Others are made of plastic and have a more utilitarian design.
In addition to reducing waste and saving money, composting also produces nutrient-rich soil that can be used to fertilize your garden or houseplants. This can save you money on buying fertilizers and improve the health and productivity of your plants.
23. Knife Set
Having a good knife set is essential in a frugal home because it saves money in the long run. Yes, I have proof of this as I replace my 15-year-old knife under warranty.
Investing in an affordable yet durable set can be achieved by choosing stainless steel or high-carbon steel, which are both rust-resistant and long-lasting.
When choosing a set, consider the number of pieces you need and the type of knives required for your cooking needs.
To make your tools last longer, hand wash and dry them immediately after use, avoid using abrasive cleaners, and store them in a knife block or a drawer with dividers to prevent damage.
But, to be honest, these are the knife set I own and I put them in the dishwasher all the time.
24. Streaming Stick
If you haven’t upgraded to a smart TV yet, I understand you are frugal. Then, you need to invest in a streaming stick.
This simple device can help you lower your costs spent on cable while still streaming your favorite shows on Paramount, Hulu or YouTube.
Nowadays, you can expect to spend less than $50.
25. Soda Maker
This may seem like a splurge, but we, frugal people need a way to treat ourselves.
Having your own soda maker can be a great way to save money in the long run. While it may seem like an expensive investment at first, the cost of making your own soda (or seltzer) at home is significantly lower than constantly purchasing soda (or seltzer) from the store.
In fact, making soda at home can cost as little as 25 cents per liter, compared to the average cost of $1.50 per liter for store-bought soda.
Another cost-saving benefit of having your own soda maker is that you can control the ingredients. You can choose to make your soda with natural sweeteners like honey or stevia, rather than high fructose corn syrup, which is commonly found in store-bought soda. This not only saves you money in the long run, but it can also be a healthier option.
What are some good tips for living frugally?
Living frugally can be a great way to save money and achieve financial goals.
Here are some practical tips for living frugally that you can implement in your daily life:
Meal planning and home cooking can save money on food expenses. Brown bagging or oven lunch boxing your lunch is also a great way to save money. Learn how to be frugal with food.
Wash your laundry in cold water and use natural homemade cleaners to save on household expenses.
Create a budget that you can live with and look for areas where you can cut back on expenses. Pack your own lunch and cut back on entertainment costs.
Travel frugally by traveling during the off-season and cutting down on eating out. Opt for a place with a kitchen so you can make some of your own meals and purchase discounted airline tickets or fares.
Have fun for free by doing activities such as going to the park, having a picnic, or having a bonfire. There are so many things to do with no money.
Try out a few frugal living tips at a time to find out which works best for you and don’t forget to access free courses and worksheets to help with your frugal living journey.
Remember, frugal living doesn’t have to be a sacrifice and can actually help you fully enjoy what you care about in life.
Start taking small steps towards a more frugal lifestyle and see how it can positively impact your finances.
FAQ
There are many frugal home hacks that can help you save money and keep your home clean and organized.
Some practical and actionable tips include meal planning, home cooking, brown bagging your lunch, washing your laundry in cold water, and using natural homemade cleaners.
Before calling a handyman, consult YouTube to learn how to fix a leaky faucet or remodel your bathroom.
Examining your monthly bills for ways to save on electricity, water, cable, and even your cell phone can also help you save money.
By implementing these frugal hacks, you can make every penny and dollar count and stretch your budget further.
I always tell people to shop their own house first. Just because you don’t know where something is doesn’t mean you should go out and buy a new item.
Look around and see how you can reuse items.
Before heading out to the grocery store, look at your own pantry and freezer to see what you can use first.
Give these tips a try and see how much you can save!
Essential appliances and gadgets for a frugal, clean, and organized home include:
Which Frugal Home Ideas Will You Implement?
With a little bit of planning and effort, you can live frugally and still have a beautiful home.
One of the key points of frugality is buying quality items less often.
Too many times, people associate being frugal with cheap.
Being frugal means you are intentional with your spending on household items and prioritizing the things that matter most.
Plus, using frugal methods can be better for the environment and your health.
So what are you waiting for? Go out and buy some of these must-haves today!
Know someone else that needs this, too? Then, please share!!
This is the first of a planned series in which I interview friends and family about their attitudes toward money. Most of these will be anonymized (and much shorter). Some will not. This first interview is with Scott Durbin, a member of Imagination Movers, a rock band for kids. This band is an entrepreneurial venture that required a huge leap of faith.
Scott, what made you and the other Movers decide to form a band? And why a band for kids?
Once you get into your 30s, you begin to feel opportunities to be creative evaporating. This time in our lives is often devoted to starting families, working for the company, paying bills to stay above the proverbial water, or working on our various relationships (wife-husband, boyfriend-girlfriend, other). I could get philosophical about the conflict and guilt of doing something seemingly self-indulgent versus being a good father/husband/worker, but let’s save that for another day. Luckily I have an amazing wife!
Several forces led to the founding of the Imagination Movers.
1. First, the guys in the group are very creative fellows. Creativity bubbles to the top given an opportunity.
2. Strangely enough, having families created an environment that allowed us to pool our creativity. That and proximity. When the Movers started, we lived within walking distance from one another. We all started having kids at the same time (minus Smitty who is the Mover without children). Kids have birthday parties. Parents gather. A ritual is established, and instead of going to bars or wherever to hang out with your mates, you’re left with your two-year-old’s birthday party as a means of convening. But it’s all good. These gatherings became the second peice of the puzzle.
3. When you have kids, you are immediately introduced into a foreign culture. You acclimate yourself as best you can, discovering the latest coolest educational toys, kids’ music, enrichment opportunities, places to play or visit, restaurants where kids eat free, any video/audio that might make your kids smarter — the whole kit-n-kaboodle. You discover your children want to listen to something over and over and over and over and over again, so as a survival parent, you want to make sure you can tolerate whatever that music is. This was the third key to development of the Imagination Movers.
4. Meanwhile, my wife has a friend who works at the local PBS affiliate. My wife’s friend often asks me to participate in commercials or promos they do. So there I am dancing for a commercial advertising the station’s fundraiser, a Beer Tasting Fest. The commercial is a hit, so I am receiving a lot of local affiliate PBS love which I put on the shelf for later use. This is a fourth thread. (All these threads will come together, so stay with me.)
5. Finally, I am a huge fan of Mister Rogers and Captain Kangaroo — people who possess a sincere desire to better the lives of their audiences and an almost palpable integrity that assures you they are not full of crap. And on top of that, they are REAL and not cartoons. I love cartoons just as much as the next guy, but heck, you know live action children’s entertainment is needed. A cartoon can only model so far or translate so much. It’s two-dimensional. So when Fred Rogers passed away, I felt called to take his place. Sounds crazy, but that become this nagging gut thing for me. I wanted to create a local kids’ show that treated kids like people and not consumers. This was the last factor in the band’s creation.
So here’s where the threads start coming together:
I mention that I want to start a local kid’s show to my wife’s friend at the local PBS affiliate.
I talk about the idea with my friends (and future Movers) at parties or the local grocery (the neighborhood essentially).
As I begin waxing, I arrive at a name for the show — “Imagination Movers” — and a broad concept that Movers work in the other-worldy land of imagination, and it’s the job of a Mover to bring people good ideas when they have idea emergencies.
I pitch the initial notion to the guys at a party. They’re in. We start writing a treatment/script in the attic of Dave’s house that we plan to pitch to the local PBS station. As we work on the show, music becomes a cornerstone. Rich and Smitty whip out the guitars and jam. Since the first script is about ‘healthy snacks’, most of the songs are in that vein. Well, we start writing songs and sometimes play them at get-togethers. People love the songs. Really love the songs.
We pitch the show to the local PBS affiliate and they love it, but with PBS-type entities, they have NO money. We are disappointed, but everyone loves the songs. So Rich decides to invest in a home studio and we begin recording the music we wrote for the show.
The rest is Mover history.
So why did we become a kids’ band? For the most part, our children/families were where we were, and what we were about, so our songs became part observations of our lives, part honoring our wee ones (and hopefully creating something meaningful for other wee ones), and a sincere desire to be the new Mr. Rogers. But in our case, Mr. Rogers has been divided into four parts, and instead of wearing a cardigan … wears blue coveralls.
What was your family’s financial situation at the time you started the Imagination Movers?
At the time the Movers started, I was entering my sixth year of teaching. Picture if you will, being the ‘bread winner’ on a teacher’s salary. Ahhh, the luxury of it all. My better half worked full time-ish as an office manager for a web firm and was earning a little less than me. Our income, however, was supplemented by a rental property. Even so, we rented to friends and consequently asked for $150 month lower than market value for the area.
Having two wee ones, we were quite honestly living paycheck to paycheck. We had some credit card debt but nothing crazy.
Our biggest financial problem — and this sounds strange — was vacations. Here’s the recurring scenario: we would finally get ourselves into some kind of financial stability and then boom, we would go on a family vacation and put ourselves right back into a mini-hole. Not trying to shift blame from self, but ‘we’ were not as frugal when it came to vacations as we should have been. My wife having been raised in a close knit family that always took summer vacations, was pretty adamant that we take similar family vacations. The problem with vacations is that you’re more apt to splurge thus obliterating your vacation budget. It’s the mentality of saying to yourself, “Hey, we’re on vacation! We won’t be able to do this for awhile or eat this good or whatever.” And soon enough, your food budget no longer exists and you’re stuffing your face with $20 crab cakes. Viva la vacation!
How did starting the Imagination Movers affect your personal finances?
For a while, everything we did was out of personal pocket. As the organic nature of our project began to take root and blossom, it was clear that some kind of real investment needed to be made so our Big Ideas could be realized. That investment was a gut check: it meant we needed to use more of our own money. So began the Movers. Honestly, everything we did — from purchasing blue suits to buying equipment (such as a PA and wireless mics) to investing in a home studio — came from the pockets and sacrifices of Rich, Scott, Dave and Smitty. The great part is that we so believed in what we were doing that money, time and energy aligned themselves and we went into overdrive.
Rich and I were the initial big investors. Dave and Smitty pitched in when possible. Rich took the burden of financing a home studio, which led to the biggest collective cost we faced early on: the creation of our first audio release, Good Ideas. Taking into account the manufacturing of the CDs, paying someone to master them, and PR, we were looking at a few thousand dollars head-on. We didn’t have much disposable income, but we found the money. (I think Smitty sold plasma. I sold balloon animals. Dave panhandeled and Rich washed cars.)
All in all, to get the Movers started, we had to get out the shovel and dig into savings so the machine could begin to turn. Our first big hope was that sales from the CD and early shows would allow us to reap what we sowed. Either we’d get back what we paid into the project, or allow the money we made to lead us to other opportunities. The latter became the yellow brick road.
So to answer your question: my personal savings was hit, parts of my home were converted (putting up shelves for inventory, setting up a network system, getting filing cabinets), and little costs (mailers, paper, postage) sometimes cut to the bone. Instead of buying a six pack or going to a movie, my disposable income went to buying CDs and labels to burn early demo copies for people.
How did you and the other guys feel about this? It sounds to me exactly as if you’ve been starting a business. Do you feel this way too?
We had big ambitions from the start. Although it seemed like a great side project, we secretly treated it as an opportunity to become self-employed and as such worked it like it was a small business. I took on the role as visionary, aspiring to some very lofty goals.
When our demos turned into real products, the fire was lit and we added more goals: creating a coloring book based on one of the songs, printing t-shirts, looking to establish distribution for our burgeoning product line. You name it, and we were plotting it. We even financed a trip to Toy Fair in New York in an attempt to introduce the world to the Movers.
I will say we were smart about resisting investment from outside of the group. Some financial advice we received led us to just say no to third party investors. I remember something about us selling securities in the group if we did so; in other words, we’d be opening ourselves up to a very complicated financial and legal world.
We also had some great friends who encouraged us to form a business plan. Sounds incredible impetuous, but we formed an LLC, met with local business leaders (Idea Village, a business incubator in New Orleans), and started working on goals.
Naturally, guys in the group participated in the project as best they could. Some did much more than others, but we were aware of the sweat equity certain people were giving early on. Rich and I were in working situations that allowed us to devote more time to the project than Dave and Smitty. Dave was working hard as an architect and Smitty as a fireman. We were — and still are — doing something that we loved, so turning it into a business simply allowed us to keep everything on the up and up, as well as kept us organized.
Scott, how did Hurricane Katrina affect the Imagination Movers? How did it affect your personal financial situation?
Katrina, without question, was a reminder of just of fragile we are; how life can turn on a dime with very little warning. Its effects were truly devastating, but with destruction there comes new life and so it was with my family personally and the Movers professionally. First off, Katrina destroyed three Mover homes and most (if not all) possessions. Here is a picture taken near our home a few days after the levees broke.
Keep in mind, most of this water stayed around for days. Sadly enough, photographs, videos of a child’s birth — you name it — met a watery and moldy grave. Actually, it went further than that — it destroyed the neighborhood. The places you went to have coffee, ‘make’ groceries, the church you attended or the school you dropped your kids off were gone. In the blink of a wink, everything you saw for miles became ghost-like. Even today — more than a year plus after — empty houses, lonely streets, lost neighborhoods now whisper for anyone, anything to bring them back to their former selves.
The Mover office was also trashed. Countless CDs, coloring books, musical instruments were ruined. And guess what? The Movers didn’t have insurance. We had liability insurance, but we were so small and Mom-and-Pop-ish that we hadn’t needed more insurance — or so we thought.
Luckily Smitty lived on the West Bank, so although his home experienced minor wind damage, it escaped the destruction. The material things naturally hold memories, but not life and our thoughts focused on the well being of him and others like him soon after Kat hit.
Right after the disaster, everyone was reeling from the new reality we were forced into and for all intent and purpose had not processed the extent to which our lives would change, but we knew at the very least we did have the Movers. In particular, the Movers had two shows booked in Texas, one in Dallas on the Labor Day weekend and another in Plano. With the exception of Smitty (who was knee deep in search and rescue), we all rallied and went to Texas to fulfill our obligation. Quite honestly, no one knew about their jobs or future income or anything. All we could see in front of us was a small payday and so we went with quite honestly the clothes on our back. We had no instruments, no Mover suits — nothing, but we went. And we played. Here is a picture of the Mover suits we used in place of our trademark royal blue ones. Note: Kyle is our ancillary Mover and plays drums for live shows with us.
Life afterwards was surreal. We no longer had a place to live. My family lived with my parents and my brother and his girlfriend in a tiny house with one bathroom in Lafayette, Louisiana (about two hours west of New Orleans). My job as a teacher was in limbo. I spent time in line for food stamps and wondered what queer curiosity tomorrow would bring. All the while I was still a dad and husband and the well-being of my family was paramount to everything I did. I’m sure the rest of the Movers felt the same way.
Personally speaking, my family received help from people we knew and didn’t know. Friends sent us giftcards for bookstores so we could buy the kids books as our wee ones love to read. Other friends and people we didn’t even know sent assistance of clothing and toys and hope. Churches helped. Companies helped. People helped us restore the basics. The Movers too received emails of support and even a guitar was sent. The emails, for the Movers sake, really kept the project going. The simple act of someone somewhere taking the time to share with us how important what we did — musically speaking — meant in the lives of their children (many whom were going through the same situation as us) humbled us. Buckled our knees. We knew. We knew we had to continue despite the overwhelming sense of powerlessness we all felt.
All in all, looking back, I am a better person. Though I wouldn’t wish the ordeal on anyone — the goodwill (and Godwill) of so many showed taught me about selflessness and how truly to give of the heart. As for my personal financial situation, well I was unceremoniously dumped from my position as a teacher in an independent school in New Orleans. I hold no grudges but wished they would have done it with a little more humanity and compassion. It was a phone call and a FedEx package. Either way, no job meant no income and no health insurance. My wife had to go to work full time so we could have health insurance. Our situation was so transformed that we were unaware of what might happen next (food stamps, unemployment, ect). Lots of ‘what ifs’ came along. Lots of ‘how did we get here.’
On the good side, the reality of our immediate financial situation was: we forced ourselves to save, to tore up those proverbial nuts for winter. Some pluses included no longer having to pay some of our bills: electric, cable, water, etc. We did receive some emergency funds from Red Cross, FEMA and some monies from of our insurance companies. All in all, our financial situation was made very clear to us: the ins and outs of our money was front-and-center and we were forced to deal with our financial situation head on. Credit card debt — what to do about mortgage payments on a home we no longer lived in — paying rent, too — you name it. We dealt with how we were going to handle it, especially having lost my salary.
Since I had no job, the Movers became a full time gig. As it did with Rich and then later with Dave. Any reason we had not to jump headfirst into this venture disappeared and so we signed with Disney. What a crazy juxtaposition that is — you sign a deal with Disney and you still are having difficulty making ends meet. Most people believed we were rich once the Disney deal came — biggest misnomer you could ever imagine. Hopefully our financial situation will improve, but the fact is: reality and perception are clearly two different things. Our main source of income is not Disney. Instead it was and is playing live. It’s our favorite thing to do and so we do it — right now to survive financially and emotionally. As a sidebar: Major props to Music Rising as it was a Godsend. Without it, the Movers would be instrument-less.
It’s now been a year since Katrina. How are things now with the band? With your financial situation?
A year plus removed from Katrina, it seems everyone yearns for routine and normality. My life now is spent in a city two hours west of New Orleans. I am the only Mover who has not returned to NOLA. My family sold our house after having sat on it, hoping the city and state would give us reason to reinvest and rebuild. Translation: a plan of some kind or another. Unfortunately, they have failed miserably in my humble opinion. The local leadership has become invisible and crime has riddled a city in desperate need of hope.
The world wonders why the Saints meant so much to the city of New Orleans. The inside scoop: a simple football team allowed the city to be one, regardless of color or creed or financial state. It allowed all people to smile and be hopeful because the city itself didn’t offer those commodities.
Back to the Movers — We’ve been fortunate to have videos rolling on Playhouse Disney so it does raise our profile. We’ve been working our tales off to make half of what we were making as professionals: architect, journalist and teacher — so we could make this dream come true. Sidebar: Smitty still works as a fireman in New Orleans. Shows you our true reality. Even with that said, we have opportunity and that is all we can ask for. We finished a pilot presentation (we felt was incredible) and five new videos which will hopefully air soon. All of the filming was shot in LaPlace (which can be considered Greater New Orleans to some). We felt humbled to know that an idea we created was now employing 75-ish people, most of whom were from the local area. Good story. Gives you lumps in your throat.
As I type this, I really have no idea what the future holds — financial or otherwise. I just hope I can make my next payment! Money is, after all, like all the things lost in Katrina: it comes and goes. A person defined by money gets short-changed by life. Family and friends are what make life special.
Thanks to Scott for sharing his story. Look for more money interviews with other real people in the coming months.
To date, the Imagination Movers have released the following:
Compact Discs Good Ideas (2003), Calling All Movers (2004), Eight Feet (2005) DVDs Stir it Up (2005)
Want to hear what the Movers sound like? Here’s a song called “My Favorite Snack”. This song is popular among both the kids and parents we hang out with. You can find more mp3s for download at the Imagination Movers site.
Scott reports that the group has a brand new CD coming out on a major label in March. Want to hear what the Movers sound like? Here’s a song called “Clean My Room” that — among other things — reminds me of Aerosmith’s “Sweet Emotion”. You can find more mp3s for download at the Imagination Movers site.
Thanks to Scott for sharing his story. It’s a great example of the need for emergency funds and the realities of entrepreneurship (and making money from hobbies). I hope to do more money interviews in the future. I’m exploring the idea of making these podcast-based. If you have any thoughts on this, drop me a line.
There’s never been a better time to visit Atlanta, the culinary, cultural and social heart of the Peach State. The diverse and thriving city is home to friendly faces, a cool nightlife scene and plenty of art and pop culture, not to mention fantastic dining and drinking. Even when it’s not the infamously sticky, sultry summertime season, the vibe and people are warm.
Appropriately enough, considering it’s the hub of Delta Air Lines and home to the world’s busiest airport, Atlanta is also a destination with many top-tier hotels. The very best are extensions of the city’s exciting, youthful energy, with a major dose of ultra-luxury hospitality and sublime service.
With so many options sprinkled throughout the city, which should you consider for your next trip? Here are our top nine hotels in the Hollywood of the South, from swanky properties in the elegant Buckhead neighborhood to historical marvels in ATL’s bustling downtown.
Waldorf Astoria Atlanta Buckhead
Buckhead, Atlanta, Georgia
WALDORF ASTORIA ATLANTA BUCKHEAD/FACEBOOK
Best for: A glossy hideaway just steps from the city’s best designer shopping.
Why stay here: The renovated-in-2022 vibe here exudes luxury in every sense of the word, from the personal concierge to the 15,000-square-foot spa and English gardens.
Best way to book: Book through our partner Skylark to earn Hilton points while enjoying elite-like benefits and on-property credits, or redeem your points by booking directly through Hilton.
Think of this sumptuous Hilton hotel as your dream home away from home, as it looks grand but feels intimate and residential. The 127 guest rooms and suites — including the crown jewel, a 2,340-square-foot presidential suite with a fireside lounge and two private terraces — were recently redesigned by BHDM Design to feature Atlanta-appropriate details such as dogwood-inspired carpet and local contemporary art.
This Waldorf Astoria accomplishes its “city within the forest” vibe partly because of its pervasive natural palette that incorporates rich woods, marble and blooming flora. The Waldorf Astoria Spa, a spectacularly large wellness destination, continues this soothing style in its 13 recently renovated treatment rooms, where guests can enjoy body wraps, baths and massages. There are even a full gym and a 60-foot saline lap pool overlooking an English garden for those who wish to maintain their fitness regimens during their stays.
Though dozens of Buckhead’s best restaurants are close by, the signature all-day restaurant Brassica — opened in 2022 — has already established itself as a hot spot for French brasserie favorites made with a Southern twist. The hotel serves a decadent afternoon tea, too.
For those in town for business, there are a dozen meeting rooms, including a nearly 2,000-square-foot ballroom. Keep in mind, though, that these spaces will be temporarily unavailable while they’re refurbished in late 2023.
Rates at the Waldorf Astoria Atlanta Buckhead start at $416 or 90,000 Hilton Honors points per night.
The Ritz-Carlton, Atlanta
Downtown, Atlanta, Georgia
THE RITZ-CARLTON, ATLANTA/FACEBOOK
Best for: True Southern hospitality that’s elevated a few notches.
Why stay here: Choose this Ritz-Carlton property to be in the middle of downtown’s action while gaining access to see-and-be-seen restaurants, a well-equipped gym and all the cushy amenities that come with a club-level accommodation.
Best way to book: Book through our partner Skylark to earn Marriott points while enjoying elite-like benefits and on-property credits, or redeem your points by booking directly through Marriott.
Bourbon lovers, this hotel is for you. At this deluxe bolthole, you’ll find one of the best bourbon selections around, though the property’s appeal goes beyond that specific spirit.
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AG, the hotel’s steakhouse and bar, has a mixology room in addition to some of the best Southern-style meat and locally sourced ingredients around. Also, there’s an outpost of the Athens, Georgia, cafe Jittery Joe’s for those who have morning munchies and crave micro-roasted coffee.
The Atlanta outpost of this beloved Marriott brand is the longest-operating hotel in The Ritz-Carlton portfolio, and it’s had plenty of TLC over the years. Its 444 rooms and suites were last reimagined in 2018 to feature decor inspired by afternoons in Piedmont Park and shades drawn from the city’s skyscrapers.
There’s an entire wellness level, too, for guests who wish to stay in rooms equipped with extra amenities such as Pure air purification systems, light and sound therapy machines, yoga mats, foam rollers and stability balls. These rooms also come with access to a healthy honor bar and complimentary transportation to local gyms, though you can also take advantage of the on-site fitness center.
If you desire an extra dose of luxury, splurge on a room that grants access to The Ritz-Carlton’s club lounge. The space feels like its own miniature boutique hotel, offering a dedicated concierge, as well as free perks like garment pressing, wine and five daily culinary presentations.
Beyond 17,000-plus square feet of meeting and event space, another major draw of this property is, no doubt, its location. It sits minutes away from the Georgia Aquarium, Centennial Olympic Park and Mercedes-Benz Stadium, among other popular Atlanta attractions and venues.
Rates at The Ritz-Carlton, Atlanta start at $270 or 41,000 Marriott Bonvoy points per night.
The Candler Hotel Atlanta, Curio Collection by Hilton
Downtown, Atlanta, Georgia
CHRISTINE GATTI/THE CANDLER HOTEL/FACEBOOK
Best for: Exceptional service and divine rooms in a glamorous landmark building.
Why stay here: In the few years since it opened, this graceful hotel inside a 1906 landmark built by a Coca-Cola tycoon has become so dependably spectacular that most guests become return visitors.
Best way to book: Book directly through Hilton to earn or redeem Hilton Honors points and enjoy any elite benefits.
Thanks in part to staff that time and time again, go above and beyond for their guests, this relative newcomer to the Atlanta hotel scene — it opened in late 2019 — has won the hearts of many. Consistently impeccable service makes it a shining star, even in a somewhat less obvious location on Peachtree Street.
Occupying a circa-1906 beaux-arts high-rise by magnate Asa Griggs Candler, this Curio Collection is a real stunner on the inside. Prepare to be wowed by the graceful entry experience ensconced in marble, plus the various tasteful, appealing details throughout that masterfully blend the past with the present.
The 265 guest rooms and suites feel decisively current, featuring a user-friendly blend of glamorous — see the spa-like bathrooms and dark floral curtains — and comfortable. The pet-friendly property also has a fitness center and offers room service.
By George is the three-meal restaurant now embodying the building’s former Central Bank and Trust. It’s the perfect extension of the hotel, as it’s also staffed by welcoming, helpful people who make the experience of dining on Southern preparations of seasonal American dishes and well-made cocktails a true pleasure.
Rates at The Candler Hotel Atlanta, Curio Collection by Hilton start at $145 or 47,000 Hilton Honors points per night.
Four Seasons Hotel Atlanta
Midtown, Atlanta, Georgia
DON RIDDLE/FOUR SEASONS
Best for: Immaculately elegant, perfectly pampered escapes from Atlanta’s highly trafficked metropolis.
Why stay here: Details, details, details. Location, location, location. This top-tier hotel does it all (think: child-size bathrobes, a small-batch spirits cocktail bar and warm cookies during turndown service) in an excellent neighborhood.
Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits, via your favorite credit card travel portal or directly through the property.
Four Seasons fans can safely expect a property that beautifully epitomizes the brand’s values when checking into this midtown Atlanta hotel, ideally positioned near the High Museum of Art and Piedmont Park. The Southern twist is offering even more charming service than you might anticipate, like a house car at the ready.
No matter which of the 244 spacious rooms or suites you choose, you’ll find soothing, elegant decor with pops of vibrant color, plus curated artwork and deep soaking tubs. The recently launched Wellness Immersion program is an especially appealing add-on. It provides extras like in-room exercise equipment (even a Peloton by request), 24-hour access to fitness classes, a next-level bath kit, personalized menus and a sound machine and/or Dyson air purifier.
For additional relaxation outside your room, make your way to the luxurious spa, which has numerous treatments, including a full-body massage that features locally-made products. Or, retreat to the indoor pool to cool off on a hot Atlanta day.
As for dining, you’ll likely be more than satisfied with the Four Seasons Hotel Atlanta’s options. Park 75 is the place for an indulgent Sunday brunch, while Bar Margot, the property’s cocktail den, serves soulful food, as well as a plant-based menu with vegan versions of international dishes. Poolside dining and 24-hour room service are also available.
Rates at the Four Seasons Hotel Atlanta start at $476 per night.
The St. Regis Atlanta
Buckhead, Atlanta, Georgia
THE ST. REGIS ATLANTA/FACEBOOK
Best for: A splurge-worthy staycation or holiday where you receive a glass of bubbly at check-in, have access to on-call butlers and can enjoy a sun-soaked pool.
Why stay here: This Buckhead hotel is intimate when it comes to room count but features plenty of appealing amenities — including several restaurants, poolside food and drink service, and a pampering spa — so you can stay put and chill.
Best way to book: Book through our partner Skylark to earn Marriott points while enjoying elite-like benefits and on-property credits, or redeem your points by booking directly through Marriott.
Oh, the sublime joys of a St. Regis butler: the unpacking and packing, the shoeshines, the book fetching with a smile at any time, day and night. The luxury of a stay at this revamped hotel in ritzy Buckhead — a designer shopper’s dream — is not only in the service but also in the physical details.
The 151 cream-toned rooms and 31 spacious suites are decked out with white marble bathrooms and plush, high-thread-count beds. Some have Juliet balconies, while others come with larger furnished balconies. Details every modern-day traveler will appreciate include stocked minibars, 65-inch flat-screen TVs and iPads that control everything from room thermostats to curtains to butler requests.
There are five dining venues at the popular wedding destination, including Astor Court, where weekend high tea feels appropriate and contemporary Southern fare is served for breakfast, brunch and lunch. With its fireplace, The St. Regis Bar is the coziest option for small plates and martinis, while Atlas Buckhead is the local farm-inspired dinner gem where beautiful dishes are served in the company of canvases by the likes of Pablo Picasso, Vincent van Gogh and Henri Matisse.
The naturally lit fitness facility is generously equipped with state-of-the-art machines. However, for vacations, there’s nowhere like the seasonal Pool Piazza, complete with a poolside bar, a Jacuzzi and a heated outdoor pool surrounded by loungers. The massive spa is another can’t-miss spot, as it has a Vichy shower, a sauna with a Himalayan salt wall and a full menu of treatments ranging from nail services and waxing to results-oriented facials and body scrubs.
Rates at The St. Regis Atlanta start at $577 or 52,000 Marriott Bonvoy points per night.
InterContinental Buckhead Atlanta
Buckhead, Atlanta, Georgia
INTERCONTINENTAL BUCKHEAD ATLANTA/FACEBOOK
Best for: Well-heeled jet-setters who are ready to be wowed.
Why stay here: Pristine guest rooms, a resort-worthy outdoor saltwater pool, complimentary car service in the vicinity and a mouthwatering brunch complete with a bloody mary cart and live music are a few reasons why this hotel is universally beloved.
Best way to book: Book directly through IHG to earn or redeem IHG One Rewards points and enjoy any elite benefits.
A leafy, lush rotunda lobby with striking rose marble floors and large-scale artworks sets the cosmopolitan chic tone for this large hotel that’s within walking distance of the popular Lenox Square mall. It’s fresh off a reimagining that also covered the 422 guest rooms, which feel incredibly up-to-date and high-tech, not to mention sumptuous thanks to touchy-feely fabrics and Byredo toiletries.
While the standard rooms will more than suffice if you’re sticking to a budget, if you can pay a little more, it’s worth booking one of the custom artwork-studded club rooms on the higher floors. These accommodations come with privileges to the 21st-floor club lounge, where complimentary breakfast and evening cocktails are served daily.
Dark and sexy, The Americano is an authentic Italian steakhouse from James Beard Award-winning chef Scott Conant, who elevates classic plates of pasta and perfectly prepares steaks and seafood. The adjoining bar is a see-and-be-seen kind of spot for specialty cocktails and small bites, while Caffé Americano off the lobby is an indoor-outdoor stop for breakfasts that guarantee to start your day well.
If you’re in need of some pampering, head to the small spa for decadent treatments like lavender mud wraps. There’s a comprehensive fitness center, too, and a heated outdoor saltwater swimming pool and whirlpool await on the second floor. There are also numerous meeting rooms, including two ballrooms, making the hotel a popular place for both business and pleasure functions.
Rates at the InterContinental Buckhead Atlanta start at $304 or 52,000 IHG One Rewards points per night.
Loews Atlanta Hotel
Midtown, Atlanta, Georgia
LOEWS ATLANTA HOTEL/FACEBOOK
Best for: A finely balanced stay where you’ll find in-suite Peloton bikes and locally sourced Southern cuisine.
Why stay here: Sitting pretty in midtown Atlanta, this hotel is one where guests can indulge in decadent self-care, as it not only has next-level wellness offerings but also thoughtful extras such as a running map of nearby Piedmont Park.
Best way to book: Book via your favorite credit card travel portal or directly through the property.
This midtown Atlanta hotel knows the way to its guests’ hearts: a salad bar. You won’t find just any salad bar here, though. The contemporary Southern restaurant Saltwood Charcuterie & Bar has arguably the best one in the South, as it’s full of virtually every topping you could imagine, plus proteins like steak and shrimp.
However, there’s more to this Loews property than its salad bar and ultra-personable servers. Situated within walking distance of the Atlanta BeltLine, Fox Theatre, Piedmont Park and other area attractions, the fabulously located property serves as an excellent jumping-off point for exploring Atlanta.
Should you wish to stay in, the quiet Loews Atlanta Hotel has you covered. All 414 guest rooms exude serenity — the stand-alone bathtubs certainly don’t hurt — and offer floor-to-ceiling windows for plenty of light and views.
Exhale Spa is another attractive amenity of the pet-friendly property, and hotel guests are treated to discounts for its various services. Additionally, there’s a dynamic daily schedule of fitness classes ranging from barre to spinning to yoga.
Rates at the Loews Atlanta Hotel start at $295 per night.
The Whitley, a Luxury Collection Hotel, Atlanta Buckhead
Buckhead, Atlanta, Georgia
THE WHITLEY, A LUXURY COLLECTION HOTEL, ATLANTA BUCKHEAD/FACEBOOK
Best for: Glitzy, gracious and genuine experiences in the renovated version of the former Ritz-Carlton, Buckhead.
Why stay here: A primo location amid upscale shopping malls lures guests to the 507-room hotel, but the high-end hospitality, luscious breakfast spread and talented spa therapists make it a destination in its own right.
Best way to book: Book directly through Marriott to earn or redeem Marriott Bonvoy points and enjoy any elite benefits.
With 507 spacious and luxurious rooms and suites — some of which provide access to a club lounge with free breakfast, daytime snacks and evening drinks daily — The Whitley is a sizeable hotel that manages to still be intimate enough that the friendly staff may learn your name. The personable service gets high praise from guests, as does the striking heated pool, which is topped with glass for a wonderful outdoor feel.
Beyond enjoying a dip on a hot Atlanta day, guests can break a sweat in the fully equipped fitness center or go for a run on a local route the concierge will happily recommend. The renovated wellness floor also shouldn’t be missed. It’s home to a spa with various treatments, a relaxing lounge and a Himalayan salt room.
Trade Root, the main restaurant, draws both locals and travelers with its promise of elevated Southern fare, fine wine and craft cocktails in a refined, sumptuous setting that comes with a side of eye-catching artwork. There’s also a bar for more casual nibbles, or guests can take advantage of in-room dining on days when they’d rather linger in bed. Complimentary coffee and tea are served in the lobby every morning from 5:30 to 10:30 a.m. as well.
Rates at The Whitley, a Luxury Collection Hotel, Atlanta Buckhead start at $229 or 30,000 Marriott Bonvoy points per night.
Kimpton Shane Hotel
Midtown, Atlanta, Georgia
KIMPTON SHANE HOTEL/FACEBOOK
Best for: IHG loyalists who want a more boutique experience and love a complimentary happy hour.
Why stay here: Yoga mats in the rooms, locally sourced minibar treats, loaner designer bicycles and pet amenities make this newer property a vibrant launching pad for energetic guests to explore the Midtown Atlanta area.
Best way to book: Book directly through IHG to earn or redeem IHG One Rewards points and enjoy any elite benefits.
The Kimpton brand has a knack for cool, but this 2022 addition to midtown Atlanta takes the cool factor up a notch. For one, the location in a mixed-use development can’t be beaten since guests can walk (or cycle on complimentary loaner designer bikes on designated bicycle paths) to shops, restaurants, theaters and museums.
The ambiance is everything when it comes to the energetic lobby and textured, fashionable guest rooms, of which there are 230. All are drenched in natural light and serve as relaxing places for weary travelers — and probably their pets, too — to rest their heads thanks to smoky blue hues, beds dressed in Frette linens, in-room yoga mats, tiled walk-in showers and minibars featuring local gourmet bites.
While there are many reasons why visitors may wish to lounge in their rooms, amenities like morning coffee and tea and the famed Kimpton social hour — this one featuring not only wines but also bourbon — draw guests out of their private spaces. For fitness junkies, the state-of-the-art gym will do the trick, too.
An overwhelming highlight of the hotel is its food and beverage program, which even includes customizable private dining. Hartley Kitchen & Cocktails is the breakfast, lunch and dinner restaurant with menus so delectable (think: fried chicken biscuits and blackened redfish) that it’s hard not to overindulge. Additionally, there’s Aveline, the moody upstairs bar featuring cocktails infused with botanicals and mouthwatering bar bites with Southern flair, such as pimento cheese fritters and crab and shrimp hush puppies.
Rates at the Kimpton Shane Hotel start at $194 or 35,000 IHG One Rewards points per night.
We all have our ways of destressing after a long day. One of my weirdest and most beloved post-work, take-a-load-off strategies has always been cruising the aisles of gourmet grocery stores just to look at packaging. Give me an aisle of fancily bottled extra virgin olive oil, and I’ll need at least an hour. Nothing is more calming to me than fancy fonts on fancy jars of fancy imported foods.
I don’t even need to buy anything. Often I just stroll around, try a sample of pickled figs, and continue my stroll home. Sometimes though, I’ll splurge on a $3 glass bottle of spring water from some promised fountain-of-youth in Italy. This, to me, is the quintessential quandary of wants vs. needs: I need to drink water, but I don’t need it to come from a hydro-spa in Lurisia.
What’s a Want? What’s a Need?
There were a lot of comments in my last article about spontaneous spending as to how to determine wants and needs when budgeting according to the Balanced Money Formula in Warren and Tyagi’s All Your Worth. Whether you use their formula or not, figuring out the essentials of your budget is important. For those of you just tuning in, the balanced money formula says that 50% of your income should go toward needs, 30% to wants, and 20% into savings. I think this comment exemplifies some of the confusion:
The discussion went on to include a lot of grey areas:
Car payments. If you bought a new car, how much of the purchase was the need of a car as opposed to the want of buying new?
Rent. Is paying higher rent to live closer to work a want or a need?
What about student loans? We need to pay those off but we didn’t need to go to a fancy private school.
I took to the Balanced Money Formula because it gave me a way to not have to worry about the particulars each month. I was just so tired of not knowing where my money had gone at the end of the month, or trying to keep track of how much I was spending in a given week. If you know where your money is going, you don’t have to worry so much about it. First though, I had to iron out some of these grey areas.
Two Carts of Groceries
I wasn’t about to through the grocery store with two carts of groceries, one with dried beans and broccoli and one filled with ice cream and Perrier, so where to draw the line? Warren and Tyagi recommend using the USDA monthly allotment for food, which averages to around $250 a month depending on age and gender. Anything over and above that comes out of wants. I’ve heard of a few different systems for allocating this money. One is to use cash, about $65 a week, and put that in your wallet with your weekly wants cash. All food just comes out of that stack o’ bills.
Another idea is to have a debit card that debits directly from an allocated account. Personally, I use my phone to keep track of it all. The important part seems to be to find a system that doesn’t seem overly complicated to you and to stick to it. When the cash dries up, I’m brown bagging it the rest of the week to work.
Rent, Car, Loans…Netflix, Gym, Phone?
My needs category was way over 50% when I first looked at it. The stuff I had to pay each month was more nearing 70%. Outside of my monthly need of calories, what else went into my needs categories? For most, rent, car payments, student loans. Okay. What else are we contractually obligated to? Netflix memberships, gym dues, data plan? Uh oh, the grey areas seem to be growing.
Well, not exactly. What were my hardcore commitments? A lot of my monthly auto-payments started going away as I clicked “unsubscribe.” Since my monthly payments were above 50% of my income, I started eliminating the things that I could get for free, whether it be using the library for movies or just taking my jogs in the great outdoors. If I wasn’t willing to cut them completely, they transferred to wants. Fine. My digital subscription to The New York Times is a want. Ugh. You start to cut where you can barely feel it.
I should add that both in the book and here at Get Rich Slowly you can find great strategies for reducing your student loans (Whether or not your liberal arts degree was a need is no longer the question — paying for it now is.), finding more appropriate health insurance, and renegotiating your rent. All these things take work and research, but their reduction in monthly cost won’t hurt your current lifestyle and can help you reduce costs.
I still wasn’t under 50%. I had to look where it hurt a little more. The book recommends selling or downgrading your car, getting a roommate, trimming your health insurance bill, returning any rentals like furniture, and re-shopping childcare. For me, I have no car, no kids, I barely have health insurance and my apartment is a major part of my business. I just couldn’t. Well, I could, but it would require the next step, which would be what the book calls “radical surgery” such as selling your home for something cheaper, moving apartments, or changing jobs.
Also listed under “radical surgery” is taking in additional income. For me, it didn’t feel very radical or surgical at all so that’s what I did, far less painful than moving apartments at the end of my lease. I added five hours a week by taking on an extra gig, which takes away a few hours of my nighttime routine of drinking fancy bottled water and listening to Pandora One, but the extra income takes my needs under 50%.
But it Hurtsssss! Why Do This to Yourself?!
I do it because I sleep better. The Balanced Money Formula has a lot of variables, and I had to finesse what went where, but after I figured it all out, it was a deep breath. 50% is a sustainable number that allows me to live well and have fun. I had to give stuff up and take on some additional income. I had to figure out what went where and set up the system how I kept track of everything. I had to wait a while for some contracts to expire, like downgrading my phone, but ultimately, for me, it really works.
No one has all the answers for you and often, there isn’t an easy solution. It isn’t about being perfect, it’s about being empowered and doing the math to trust that your finances in balance, fudging it where you need, so you can sleep easy.
So how about it? What seems impossible to categorize? How can you bring more balance to your budget?
I love the jeans I’m wearing. I actually wear them almost four days a week. Chances are that if you see me, I’m wearing these jeans. They’re my only pair. When I bought them, I very gladly put down my $200 cash and left the store with a smile. The jeans I had before them cost the same, and I wore them until they got holes in them, and then I got those patched up, and then the patches got holes in them and the hem came out and I decided to move on.
A lot of personal finance advice I read says that $200 is entirely too much to spend on jeans, no matter their longevity. The problem here is that I love these jeans. I feel confident in them. It sounds weird to me, but having jeans that fit this well have become a value of mine. The jeans aren’t the point though. Chances are, we all have something we buy that maybe costs more than it should, or at least more than it could, be it wine, fitness, clothing, makeup, electronics, or pure-bred cats. My goal is to spend on the things I care about, and ferociously save on the things I don’t.
I practice the art of conscious spending.
Your Values Should Dictate Your Spending
We can’t have it all. With my jeans, I spend on the pants and then save on the shoes I wear with them. My shoes aren’t important to me. They probably should be, but try as I might to read studies about proper arch support, I can’t get myself to make it a value. If I were to spend on the jeans, then spend on the shoes to go with them, then the belt to match, I frankly wouldn’t have enough money for a shirt.
With travel, it’d be great to stay in a luxury hotel, eat at fancy restaurants and take cabs everywhere. But for most of us, that would make travel inaccessible. If I ever splurge on more comfortable accommodation, I’ll make sure to walk everywhere and get cheap street food to eat at the park.
My point is this: Figure out your values. Spend on those, skimp on the others. For me, this meant charting my spending. By seeing where my money was going, I could more properly cut out what I didn’t care about and funnel the funds into what I did, or more probably, into savings.
Here’s an untrue example of where my $500 in discretionary spending went one month:
I look at this list and have three things come into mind first:
I love Chairman Meow, and so his wild caught Alaskan cat food is non-negotiable.
I do hear the people sing and tend to cry through all of Act I.
I still can’t believe how effective acupuncture is at reducing stiffness in my back.
Outside of those three, I realize I usually don’t have a very good time when I go to concerts with my friends and these Levis come on way too high on my waist. To align more with my values, I should keep the cat food, Les Mis, and needles, and enjoy a night at home reading a library book (Victor Hugo!) in my amazing new jeans.
Saving Up
If the desire to buy a more expensive item is strong enough, I should be able to save for it. If my desire wanes from day to day, or I realize that I’d be happy with something cheaper, I don’t buy the product.
I’m really looking forward to a trip I hope to take to Istanbul next year. If Istanbul didn’t come up at least once a week in conversations for me, it would probably cease to be a savings goal. If I don’t change behavior and put more money toward it, it isn’t going to happen.
To change behavior, I set up smaller goals and advertise to myself. I have this picture on my desk now and gaze lovingly at it every time I transfer funds into my Istanbul savings account. The week before I make a transfer, I go to the library and get out a book (hopefully with lots of pictures) about the city and read away. Not only will I have more appreciation and knowledge of various landmarks once I get there, but it helps keep Istanbul exciting, fresh, and sexy for me, not that it needs much help.
A few months from now, if my monthly savings goal continues to be met, I’ll buy the plane tickets and know some more awesome facts, like back when the city was part of the Ottoman Empire, Istanbul had 1400 public toilets all over town. Europe at the time had yet to build a single palace.
Merit-Based Rewards
With some of my larger purchases, I make myself earn them in a less financial sense. I want to make sure something is a value of mine before I spend the money on it. Here’s what I’m talking about:
For a big trip, justify spending the money by having a tangible language goal. Tell yourself that after a year of weekly French classes, you’ll finally allow yourself to spend the money on eating a baguette under the Eiffel Tower.
Interested in taking barre classes? Commit to using the DVD two or three times a week for the next two months. If you can get that done, it’s become a value and money can follow.
Want that expensive new makeup? Use up everything in the bathroom first instead of adding to the pile of half-used containers.
Looking forward to your favorite band coming to town? Learn the riff of your favorite song on guitar, especially if you’ve never played before.
Pick a goal that makes sense and stick to it. If the purchase isn’t inspiring you to save and better yourself, then it probably isn’t a value.
Frugality isn’t always about finding the cheapest option, but rather bringing as much consciousness to your spending as possible. You can lose the guilt, increase the pleasure, and accomplish something new.
What’s your more pricey item? How do you make sure your spending is a conscious effort on it?
Save more, spend smarter, and make your money go further
It’s “National Splurge Day!” People who normally live modestly are encouraged to relax their boundaries and indulge in things they normally forgo. Yes, it’s one of those arbitrary holidays that someone just made up, but it’s actually a good excuse to address the topic of splurging.
I know what you’re thinking. “What the heck, Mint? You’re the place I come to for help with saving money.”
Hear me out. During the last few years I have learned that building money into my budget for little (and occasionally big) indulgences is a healthy way of keeping myself on track with my saving. It’s one good way to battle “frugal fatigue” and prevent myself from making foolish purchases on the days I’m sick of worrying about every penny all the time.
The occasional splurge approach works not only with money, but with other things we deny ourselves. My favorite splurge is taking a couple extra hours in my day for a spa pedicure, and ending with a donut. That’s indulging in time, money, and calories all in one! But a splurge might look very different to you.
Maybe there is really no room in your budget for a splurge today, but you can start preparing by putting some money aside for one in the future. If you do have some wiggle room, here are some suggestions for responsible splurging.
Fix what’s broken
Do you hate your clanky, energy-inefficient refrigerator/washing machine/dishwasher? Do you keep saying to your spouse “We really need to replace our pathetic window screens/beat-up mailbox/chipped paint job?” Are you putting off that car repair that will eventually make the difference between having a working car and taking the bus? Pick even one of these and take care of it. You’ll feel a whole lot better.
Invest in yourself
Check out local deal offers like Groupon or Living Social for discounts on gyms, art studio events, or tuition for extended learning centers. While the cost might be a splurge, the new physical fitness, artistic ability, or knowledge you gain from these classes will stay with you and increase your quality of life.
Buy some time
A very busy friend of mine likes to say that “throwing money at a problem” isn’t always a bad idea. Have a TaskRabbit or virtual assistant take care of your errands or data entry and use the saved time to do something for yourself. Pay a babysitter and go out with friends or significant other, whom you never see because you’re working and taking care of other people. Save time on meal planning by paying someone else to do the thinking for you.
Start the process
Take a bite out of a bigger splurge by setting some money aside toward the vacation that will satisfy your wanderlust or recharge you. Or finally pursue that elective medical procedure that could make your life easier: laser eye surgery, physical therapy for your aching back, even braces. Do you have a health savings account sitting around with a balance because everyone in your family is healthy? First, count your lucky stars, and then look into using your balance toward a procedure. If it’s a Flexible Spending Account, you have to spend the money by year end or you lose it, so you might as well use it for good, right?
Buy some happiness
I know that going to the movies with my kids makes all of us happy, but I almost never do it because the cost can be $40 for three tickets alone! We only go to the movies a few times a year, but when we do, the experience is fun and special. I go all out: the kids can choose any snack and drink, and we try to get to the theater early so they get their pick of seats.
What makes you happy? I hope you find a way to splurge on yourself, if not today, then when it works for your finances. It’ll make budgeting that much more rewarding.
Kim Tracy Prince is a Los Angeles-based writer who has a husband and two little boys. She often dreams of splurging on a nap and a margarita, not necessarily in that order.
Save more, spend smarter, and make your money go further
Kris and I received $2789 in tax refunds this year.
Already I can hear the sound of hundreds of heads thumping against hundreds of desks. Many of you are wailing, “Why?! Why?! Why?!” Of all the financial choices a person can make, getting a large refund is universally considered one of the dumbest. Magazines advise against it. Books advise against it. Blogs advise against it. Yet every year, millions of Americans like me use their tax refund as a sort of forced savings account.
Why do we do it?
The arguments against a big refund
First, let’s examine the reasons a person shouldn’t get a big tax refund.
“You’re giving an interest-free loan to the government!” The implication is that this is a stupid idea. My response is generally, “So what?” I don’t mind giving an interest-free loan to the government. I view it as a form of short-term charity. It doesn’t bother me.
“You’re cheating yourself of cash-flow!” If you receive a refund, you’ve had extra money withheld from each paycheck. In my case, I’m having more than $100/month extra withheld. For some, this money can make a real difference in day-to-day living. In fact, it may be the difference between having to use credit or not. There’s merit to this argument, but it doesn’t apply to me. I’m not that pinched.
“That money could be invested at a high rate of return!”This argument I grant to be convincing, and I don’t have a rebuttal. Not only does a tax refund give your money to the government interest-free, it also deprives you of the chance to earn a return on the money.
If there are clear reasons not to get a tax refund, then why do it?
The argument for a big tax refund
I suspect that everyone who chooses to get a big tax refund does so for the same reason. It’s a psychological trick. I like the lump-sum windfall.
In the past, I was a poor money manager. There was no way I could have saved an extra $50 per paycheck. I would have spent it. But by electing to receive a large refund, I imposed a forced savings plan on myself. Over the years, this enabled me to:
Purchase a brand-new Bianchi Volpe touring bicycle
Purchase a refurbished Macintosh G5 tower
Save money for a cruise to Alaska
Not all of my refund-based purchases were smart. Last year I spent all the money on comic books. That was dumb. Here are all the things I’ve done with this year’s refund:
I spent $150 on comic books (my only comic book splurge so far this year)
I spent $90 on lectures from The Teaching Company
I put some into savings for our vacation this summer
I used some to pay for continued work with my wellness coach
And I used $1000 to pay off debt
I consider this a fine balance, a perfect use of a small windfall.
Why I won’t pursue a tax refund in the future
Having said this, this is probably my last big refund. At this point in my life, based on what I know about money, a tax refund is a poor choice. I have developed enough self-discipline to use my money wisely, even when it comes in small chunks.
But I’m not going to argue that you shouldn’t get a refund. Do what works for you. If a large refund makes you happy, by all means do it. If it helps you to save, then do it. However, as with the debt snowball, realize that you are paying a mathematical penalty for doing so.
Money is entirely fungible. Despite my earlier misconceptions, this idea has nothing to do with fungus.
Instead, fungibility is a synonym for replaceability, or the capability being used in place of another. While a crispy, fresh $100 bill might feel better than an old, wrinkly $100 bill, they can be used precisely the same. They are fungible with one another.
Many money mistakes occur when people don’t understand monetary fungibility. Let’s fix that today.
A Penny Saved…Is Less Cool Than A Penny Earned
Much more ink gets spilled on earning and investing than on simple saving and budgeting.
I’m guilty of that here on The Best Interest. I love writing about investing. But budgeting? Eh. I have a few articles, but it takes a back seat to investing.
Yet Ben Franklin understood fungibility when he wrote, “A penny saved is a penny earned.” If you can save $100 per month via a budget, that’s equivalent to a 10% annual return on $12000. It’s not as cool as investing, but the fungibility of money doesn’t care about coolness.
A dollar is a dollar. The invested dollar might feel cooler, but it has the same buying power as the uncool saved dollar.
Gift Cards – Not Ideal
This next lesson is going to sound crass: giving a gift card is the same as saying, “here’s a cash gift, except I’m actively taking away your fungibility.”
Again, I’m guilty of this. I’ve given gift cards. I completely understand the sentiment. “I know you like [insert hobby, store, restaurant, etc. here], but I don’t know precisely what you’d buy from there. So here’s a gift card.”
But gift cards steal choice. They steal the fungibility of money. A cash gift can be used to buy anything in the world. A GolfWorld gift card cannot.
My two cents: just buy your loved ones an actual item, and include a gift receipt.
Dividend Bros
I’ve taken down dividend bros before on The Best Interest. Their arguments are varied. One of the dumber pro-dividend arguments is that dividends provide a level of liquidity that non-dividend-paying stocks cannot provide.
This argument is, in short, made in ignorance of fungibility. Dividends are fungible with stock ownership (exclusive of taxes). The same income provided by dividends could be created by selling a portion of the stock itself. Stocks are fungible, cash is fungible, and thanks to the efficiency of the market, stocks and cash are fungible with one another.
(In fact, once taxes are considered, dividend payments are almost always worse than simply selling stock.)
“Buy Yourself Something Nice”
When Grandma gives you $20 to “buy yourself something nice,” she’s missing a lesson in fungibility.
In reality, Grandma’s $20 gets comingled with all the other available dollars to you, and any future $20 purchase is drawn from those comingled dollars. Grandma’s contribution only paid a small role in that purchase. Sorry, Ethel!
All the other purchases you make in the future – good, bad, or ugly – will use Grandma’s contribution too.
The same idea applies in other arenas:
Charities use a percentage of donations for their own administration. Every charitable dollar is comingled and then drawn against. Nobody’s contribution goes 100% to the charitable cause.
Many citizens use government assistance to purchase necessities (e.g. buying food with food stamps) and then use cash to purchase other items. That food stamp money is partially fungible. Food dollars can be replaced by food stamps, though food stamps cannot be sold for real dollars. If someone receives $200 in food stamp aid, they can spend $200 real dollars elsewhere. In short, a percentage of every real dollar spent is subsidized by the food stamp dollars.
When you find a $100 bill sitting in the parking lot and decide to test your luck with Lottery tickets. Hey, it wasn’t your money in the first place, right? Again, money is fungible and this line of thinking misses an important lesson.
Splurging
A sudden windfall gives you an unexpected $50,000. What do you do with the money?
A common idea is to splurge on something nice – say, with 10-20% of the windfall – then save the rest. I’m on board with this idea from a psychological perspective. But this splurge does not jive with the concept of fungibility.
Because if you wouldn’t spend your own hard-earned dollars on a $5,000 – $10,000 splurge, you shouldn’t spend windfall money in that way either. These dollars are all fungible. Windfall money should be treated exactly the same as the other money in your life.
Now, perhaps you were already slowly saving for such a splurge. You were already setting aside hard-earned dollars for the splurge. The windfall simply accelerates your timeline. That makes sense.
What doesn’t make sense is for someone to say,
“I would never spend my own money this way, but I’m fine spending a windfall this way…”
Money is fungible. It is spent fungibly. It should be thought of fungibly.
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-Jesse
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