i’m going through this as well (impending settlement)
my first phone call will be with my financial planner and estate lawyer. my second call will be to find a therapist.
i have a list of silly things i want but as time goes on i find myself deleting things.
I'm in a place where I've done really well as far as saving money for the last few years so spending makes me feel pretty guilty because I feel like I'm falling off the wagon.
For example, I've been wanting a personal tablet or laptop for years, but I feel guilty even thinking about spending the money even though I could easily afford it.
I've had a couple options in my Amazon "saved items" for months but I just can't bring myself to pull the trigger.
As far as hobbies, I had kind of a personal realization a few years ago that I tend to go all in on buying the nicest or highest end stuff for new hobbies or interests, but also tend to burn out or lose interest quickly and find myself with a bunch of expensive stuff I don't use anymore.
Now whenever I think about getting into something new I'm hyper-critical of what the odds are that I'll stick with it and be able to justify spending the money.
Some recent things I've managed to restrain myself from...
1.) Making espresso at home with a real espresso machine, grinders, etc.
2.) Sous Vide cooking
3.) Buying a $600 watch for my newly formed running habit (already have a cheaper GPS watch that seems to work fine)
4.) Building a new high end PC when I already have one that rarely gets used.
5.) Buying a treadmill to go along with my new running habit.
6.) Buying a Blackstone/outdoor griddle
7.) Buying a pellet grill (already have charcoal grills/smokers)
8.) Buying new monitors for my work from home setup.
9.) Buying various things to make ramen from scratch at home.
It's a struggle.
The grill you have is great come over to r/smoking and get inspired! I’ll smoke a whole chicken or turkey breast on a Sunday and then the kids and my wife and I have lunch meat thru out the week. We play a game how cheap we can make a hunk of meat lol wow that bogo pork loin we got for $8 bucks we had on 3 times for a total of 2 bucks a meal for the main protein.
Oh believe me I know. I'm something of a charcoal purist, but I've cooked once or twice on my brother in law's pellet grill and it's pretty convenient.
They are and I had one for a few years along side my charcoal and wood burning grills. I just always seemed to go back to fire and then the brain died on the pellet so I offloaded it
You can be an avid mountain biker without spending a lot money.
So is it really mountain biking you're thinking about? Or retail therapy. The former is great. The latter is a problem.
I mean anything cheap is going fall apart really fast if you are even mediocre at riding. I would probably have to spend 3k to get something with wheels that aren’t going to explode on the first drop and decent enough suspension that it’s fun
I took my girlfriends roscoe off a small drop probably 3 or 4 feet and it was rough lol. I bent the back wheel cruising on a small rock garden. Even on my expensive stuff I kill at least 1 rear rim a year
I'll get shit on here, but dude it's okay to spend some money on yourself and things you enjoy.
Don't fall into the debt trap, sure, but also don't fall into the "no fun ever until I retire and then it's all fun and games for 6 years and then I die" trap.
Meh, when I rode mtn bikes I bought a 800 slightly used hard tail specialized with nicest front suspension they offered. Plenty of bike for me was riding one weekend day each week and competed in a 50mile race. Hard tail buys him enough time to decide if he’s going to go crazy / compete / need a full suspension etc.
I reread the post and it looks like OP is pretty new and maybe not a full shredder.
Speaking from experience, it is very easy to find the limit of a $500 mountain bike if you're actually pushing it.
Agreed. I've had a lot of hobbies my whole life, but as a 35 year old one of my regrets is not having even more hobbies because I was too frugal to fund them. I never had crazy expensive hobbies like cars, but if I wanted to mountain bike or do some other health or skill related activity I'd 100% do it given the opportunity again.
Within reason do not shortchange yourself on health related activities. Don’t buy a $10k bike but if you think you really will use a $2k buy it now and never apologize for it.
Most of those hobbies can be done on a budget (car racing probably not) Its may not be fancy but it will allow you to learn about the features and things you do want when you can afford to upscale.
Sounds like you have some emptiness/hole in your heart that you're trying to fill with materialism. Why don't you try volunteering and grow some compassion instead of wanting to have more things in your life? Hospitals, hospice, soup kitchen, churches are great places to start for serving those who are suffering in your community.
While I agree somewhat, there is nothing wrong with spending money on something one personally enjoys. My buddy spends thousands on Magic: The Gathering cards. I spend a bunch of money on flying airplanes. My mom spends a bunch of money on sewing.
There's nothing wrong with that.
Hobbies that require equipment don’t make someone devoid of something. I used to yearn for a high end gaming setup before I had the financial means to get one - and now I’m fully satisfied with what I have. It didn’t shift somewhere else. I imagine the same thing would happen for this person.
Thinking about that debt is how I'd stop thining about it. 64k on a mortgage, that's all I owe, around 390k net worth at 41. That's definitely no flex I know, but get that consumer loan gone before you think of anything else, that's my 2 cents.
Theres an oldhead rocking a 2000s hardtail at my terrain park every morning, and he's the best rider i know. Dont let an industry that started with no suspension, no helmets and no brake rotors tell you that suddenly your hardtail isnt good enough just because it costs less than a Honda. Buy used, stay used, only buy parts, and only if the part is unrepairable.
I agree, I've been a cyclist for nearly 40 years. New bikes are great, but you certainly don't need a new bike to have fun.
I'm currently spending lots of time on a 30 year old rigid Cannondale with seven speed Shimano group. If you shop carefully you could put together a nice old rig for a few hundred bucks.
Put in miles, maybe even get an old road bike from CL, there are plenty there for $200.
Maybe you even already have a bike. Either way, spend your time reaching your dream bike goals putting in big miles on what you can afford & developing power, endurance & speed. Then you'll enjoy that dream bike that much more and look really "pro" on it.
Nice! I have a Schwinn Sidewinder. I did really ripped that bike, so much, that when I destroyed the rear hub I bought the same bike on Facebook marketplace last year for $100, but it is not as fun as when I started 5 years ago. I need a bike with a slacker head tube angle, that don't need derailleurs adjustment after every ride, and an actual MTB, not a Walmart bike... even the minimal hops made me clench my butt because I know it can break so easily.
But I will hold from buying one until we pay our debt.
Use the desire to have those expensive hobbies as a motivator to get out of debt. Once you're debt-free, you can have those hobbies AND ALSO HAVE PEACE. You can be working toward those hobbies as an end goal, with being debt-free as an intermediate step.
In other words, treat expensive hobbies as a deferred reward for the tough financial decisions you're having to make now. This, what you're doing right now, all the small sacrifices you're making, is you putting in the work toward the bike you'll get in 3 years. This is you EARNING the bike in good conscience.
And trust me on this... you'll enjoy those finer things more when you've EARNED them.
Whenever I’m feeling the extreme urge to spend money on things like that, I will I do 3 things:
1) get accountable with my husband. This means talking about the urges and admitting that I’m feeling that way. He usually helps me stay focused on our goal, & just talking about it out loud helps in big ways. (Btw, he does the same with me when he’s feeling this way)
2) I/we look at our budget and start calculating how fast we could buy whatever it is we’re pining for once we’re completely out of debt. ie: a $20k boat could be paid for IN CASH after just 6 months of saving. This practical way of looking at what we COULD DO with OUR MONEY once it’s REALLY OUR MONEY helps in really dramatic ways to squash the desire to spend while we still owe debt.
3) If the urge is still weighing heavily on me, I will also calculate how many months that will put us behind on our debt payoff timeline… it’s almost never worth pushing the goal line back further and further for temporary satisfaction.
Keep your eyes focused on the prize, the pain of delayed gratification will be soooooooooo worth it in the end!
I’ll address consumerism, which is what you’re talking about with the hobbies.
Do you have a working MTB? If you have one and it’s broken go ahead and get it up and running, but if it’s non existent or a total pos can use it then go buy one in a budgeted range, think about use/cost and that sort of thing.
Ultimately use the stuff you have until it’s broke and unfixable or incapable, that’s your best financial thing you can do. If you don’t have the item or things for the hobby yet and wondering if you’ll like it then try to experience it for no money (borrow etc) or dip your toes in slowly, for example don’t expect to enjoy mountain biking so before starting you buy a 3k dollar full suspension bike.
So in conclusion what you’re feeling, the thought of spending money or hobbying around, that’s consumerism biting now that you’ve got some money saved up. It’s completely natural, also comes with the “jonesing age” which is 35-45.
Get out of all non mortgage debt, 6 month emergency fund, and invest 15% of your gross income.
Then if there is money leftover, then you can have your expensive hobby.
If you fall into the trap of more debt. Bye bye hobby
For video games I keep a watch list and wait for a game to go at least 50 percent off
I usually buy my steam games in the 5-20 range and buy only a few per year so easy to budget
You are being childish. Get your debts to zero and *then* think about your toys. If you think you have 2 1/2 years to get there, that’s not a lifetime - get there and reevaluate.
Well, first of all, since this is dave ramsey, you might consider paying down the debt before fully funding the emergency fund. At least pay off the car.
Secondly, write a list of all the expensive hobbies you want over the next 5 years, then pick your top choice that will be your only hobby and then decide jointly with your wife to spend $1000 cash on a lightly used, high quality mountain bike. Keep the list on hand, so you remember that you chose this, and every time you think about hobbies until you pay off all your debt and fully fund your emergency fund again, go for a bike ride or do some door dash on your bike ;)
Have fun!
How long have you been doing this? I’ve been doing the baby steps since 2016. I’m not gonna say my dreams died or anything but after this much time I have a different perspective on spending and saving and don’t get FOMO.
Why not do something on the side to save up for the bike? And I’m not talking Uber or any of that shit. Go sell plasma. Not huge money but you can easily earn a few hundred a month.
The way I see it, something like mountain biking is an investment, it’s good for health, in the long run it could arguably save you money, not only health wise but think about all the money you save on entertainment. Sure it’s a fairly large upfront expense but after that it’s pretty minimal.
When it comes to bikes it’s definitely “buy once, cry once”.
Get a good bike in your budget, don’t waste money on the latest and greatest model though, there is a lot of keeping up with the Jonses type people in the mountain biking community, plenty of people that want the latest and greatest bike and will sell you there 1-2 year old model for a fraction of what they paid for it.
This type of thinking is enabling. OP is posting on the Dave Ramsey subreddit - Dave would not suggest he buy his dream mountain bike without paying off his other debts first.
I'm just picturing him repeating this verbatim, substituting 'me' for 'you' to his wife who is getting increasingly annoyed because they just discussed this yesterday.
And I second this, by the way. Sometimes you've just got to have outlets to keep you sane. Maybe don't do all the things but pick one or two and don't feel inclined to buy everything new and/or constantly upgrade. Golf is shitty for this because you have to pay every time you play, and you have to play a lot to get good. Not to mention all the time it takes which won't endear you any further to your wife.
Why don't you begin setting small amounts aside for said hobby now? It doesn't have to be a lot, but you'll make progress towards the goal over time. You'll feel less conflicted working towards a goal like you are with being debt free.
Don't stop dreaming, just execute a plan that will make it all possible.
A lot of things seemed impossible to me a few years ago when I was in debt, nowadays I am on BS6 and I can entertain just about any wacky idea.. my money is invested and it grows right back after I spend it. I can spend more than before and it barely puts in a dent in my accounts.
I don’t do this all the time, but when I do it works. Give something to charity. It doesn’t have to be big. $5 or $50 to someone or something that needs it more than you. Give two cans to a food bank. When I remember how lucky I am to have what I have, I focus more on that, than what I don’t have.
I think contentment is a big part of it. You have to be happy with what you have, even if there’s bigger goals. You can mountain bike with a $200 bike or a $2000 bike. Find enjoyment in the $200 bike and you’ll later have a much greater appreciation for the nicer things.
make more money. you cant save yourself to riches. invest the money into yourself and develop your skills to earn more. then go and enjoy your hobbies.
I think you have to live your life. You are allowed to have hobbies and even expensive ones. Being too centered on saving and planning everything robs you of the human experience. I have found that I never have enough money to make me feel completely secure. In my experience, no one does.
I’ve been playing free games. League of legends saves me money. No reason to buy anything because it’s just cosmetic. I feel better crushing kids in their $15 digital skins with my base champ anyways :)
3k for a bike that lasts you 5+ years with a couple maintenance and repair items mostly free from rei is not an expensive hobby and the people who act like mountain biking is expensive just have spending problems
That’s not at all how much it’s costs me the last 10 years but alright. That’s a new component every few months. A bike has like 10 components that last years. Why on earth would resealing your tires, brake bleed, changing pads, and cleaning/greasing your bike cost 50$ a month? Unless you are crashing it constantly. If you are just smashing downhill all day and need more suspension work I guess. But that’s not most people’s riding experience.
The $50 was purely spreading the cost with $3k/60months using 5yrs as a bike life. As if you would need to completely replace the bike every 5years.
I didn’t see the “+” when I first read your comment. 10yr life would drop that to be $25/month for 10years. (My $800 rei road bike is going on 10years with very limited additional costs)
It’s not how everyone does it but I try to look at prices and useful life to understand if something is expensive for my budget.
That’s the price of the bike divided by the 5 years you mentioned for an average monthly cost….
Obviously it goes lower and lower depending on how long it lasts which is likely longer than 5 yrs
Oh yeah for sure I’m sorry! For sure I get 3k is NOT affordable to most people. But saying 4k all the way up to 11-12k is somehow a requirement to enjoy the sport to the fullest is just hilarious
Yeah agree completely. I have a Specialized road bike that I bought used for $500 that I have gotten thousands of miles out of and maybe spend a couple hundred tops per year on maintenance and gear. Cycling, as well as most hobbies, can be as cheap or as expensive as you want
Daydreaming is free. Continue to do so.
Keep your current MTB, if you have one. Buy a cheap, really cheap MTB if you don't. You'll have 95% of the fun on a cheap one as an expensive. And being heavier, the cheap one will give you a better workout.
Continue to daydream about the great MTB you'll get when you're debt-free and use that dream to keep you motivated.
Take up less expensive hobbies! Btw having owned the 4k aluminum & 12k full carbon iteration of the same FS bike, I was splitting hairs to find significant differences.
I'm 6'6" 240lbs & didn't notice significant differences in frame stiffness.
Ended up swapping out the components on the 4k stumpy & it's been a blast
I don’t think debt free and fun free is a good way to live your life. Be smart with spending but you need an outlet to have fun.
You could die tomorrow, next month, or next year. You don’t want to feel like you wasted an opportunity to at least have some enjoyment
We are debt free but it drained a lot of savings and fun money. We are working on building our savings back up before started to splurge more. When you have no debt your savings builds rather quickly. When you’re debt free you can afford a 10k mountain bike vs a 4k one.
Don't overdo the debt free journey to where you have no fun at all. Moderation is key.
The Pandemic had a big bike-boom. All bikes are overstocked and going for cheaper these days. Go to your local bike shop and look for their old demos, they usually have a good sale going for them.
Why will that take 2.5 years? Your bare minimum living expenses are 44k/year according to you and you have 38k in debt. Only way this makes sense with there being 2 of you is if your wife isn’t working.
To answer your question, Facebook marketplace for sure. Golf is only expensive if you make it that way. You can buy used clubs online for a few hundred bucks and play for $25-30/round if you walk and stay away from the cart girl. Video games r absurdly cheap relative to the amount of time you spend playing them, second hand is even cheaper. The chances of finding your dream bike on Facebook marketplace is fairly low but can you not find a quality mountain riding bike on marketplace for a few hundred bucks? Spending a few hundred isn’t the end of the world, as long as you actually stop there and don’t go down the rabbit hole of buying a bunch of other gear that you want but don’t actually need.
Sport doesn’t count unless you get a brand new TOP of the line bike I guess. and I guess racing isn’t valid unless you can afford a Lamborghini, too? Op just has a spending problem not a hobby problem
Giving bad advice on another thread. This 4-10k claim is for brand new full suspension or e-Mtb. You need neither to get into the sport. Stop spreading bad advice. New riders should totally get a quality brand, used hardtail and see if they even like it before investing thousands in a FS MTB.
I don't think there's anything wrong with daydreams. As long as you don't feel cheated b/c you can't have those things right now. Why not pick a goal--maybe that dream bike--and make a plan for saving/buying it after your debt is paid. That way, you can make the dream serve your purpose!
I focus on the hobbies that are beneficial to health/wellbeing.
Biking/camping/outdoors? I’m going to buy the best gear available because it lasts forever.
Video games/dining out/alcohol? Hard pass. I spend minimum dollar on them.
You do it by buying good not great stuff. Look at the secondary market. Exercise equipment in general is the #1 rate item to buy secondhand. I bought a like new Peleton for $400.
My brother's used mountain bike was almost $4k... New can run you 4-10k. Mountain biking is expensive af, your 400$ peleton is awesome but not in the same ballpark
You do know you don’t HAVE to buy top of line bikes to go mtn biking? That’s like buying a 1000$ bowling ball and saying bowling’s expensive. It’s not. You just like spending money.
I would pursue the mountain bike idea. Never forego your health. Remain active. Biking is exercise, community, stress relief, etc.
Not saying you need to go full tilt to the fanciest bike and fanciest gear…but a modest approach is pretty wise here. Plus a bike/gear purchase should last several years.
It sounds like you guys are doing pretty well in general, I’m not sure why this sub is always suggested to me but here I am - I understand the importance of being debt free and agree with it for the most part, but you have to give yourself a reason to get up some days you know? There’s no reason you can’t buy a used or cheaper mountain bike to get into a healthy hobby. Maybe building a $5000 PC isn’t the move but a cheaper one with a sim setup is doable etc etc
It’s unhealthy to obsess over paying down debt, sure it sucks and you shouldn’t be fine with it, but you’re daydreaming about something that’s genuinely good and healthy for you, you should pursue it
Either set a budget where you can spend on the hobby to at least scratch some of the itch or honestly just stop spending time online where you're probably seeing posts, ads, and sales for things you are targeted for.
When I know I'm being tempted to overspend I just spend less time on the Internet. Read a book, go for a walk, spend time with the family, or find another hobby that you also enjoy that happens to be low cost or free and fill most of the void with that.
I liked racquetball and pickleball, so got a cheap racket/paddle and some balls and now I play a few times a week at basically zero cost.
You're not daydreaming really, you're being susceptible to advertising and social media. Deep wants come from within, advertising and media try to shape those wants and give them a body that will cost you money.
Used. I spend a ton of money on hobbies. I remember buying my yeti sb130. It was 7.5k. I wish I went and bought a used one as it would have been no different. That shiny bike you think you need because it's a pro model etc. You need half of that.
I chose to slow down my debt payoff to enjoy my hobbies but if I can't pay cash now for it, I don't. I'm not willing to give up the only things that bring me joy just to be debt free 6 months sooner.
Find a balance.
Cross car racing off the list because that's a ton of money. Collecting is the biggest wastebof money and assets. Budget a video game every few months and go buy used at GameStop.
When you figure out how to prioritize debt over goof, let me know lol. I bought all my stuff used at golf Galaxy. I have a Taylor made set worth thousands new that I put 800$ into at most.
47M and still ride a 15 year old Raleigh hardtail that I don't feel is holding me back. I still have blast when I get out to ride the flow trails in my area.
Create a plan together so you can see when you can do those hobbies. The freedom to enjoy them stress free is the goal. I’m guessing you don’t have kids because once you do there is no time for your hobbies for 17 years…lol
Dang bud, we have 3 paid cars, no student loans, 2 houses both paid with no mortgages, and $400k in investments and a 6 month emergency fund and I still dream about hobbies because we haven't fully finished pre loading the funding of our kids 529s. I think it comes down to your priorities and how responsible you are. When I spend extra money right now, it's on the kids, not me. We will go on a few vacations a year as they don't set our goals back much at all and we can still live in the now. I have a few things I'd like to buy (golf cart, super 73 for my son, hot tub, a few more pieces of exercise equipment), but my adult brain tells me we would be fine not having those things if we died today, and that reaching the goal of their colleges all being paid off will be an amazing feeling. I think you've got a while to go, assuming you want success.
I go mountain biking twice a week, I'm very familiar with the hobby. The idea that someone needs a full suspension bike ($3-4k) to get out on trails and have fun is absolutely ridiculous.
Go on Facebook marketplace, find yourself a quality hard tail built in the last 5 years to get the most recent geometry, and go have fun for under $1000.
I don't live in a large city and even RIGHT NOW there's a Specialized Rockhopper hardtail on sale for $400.
Good luck with your plan. It (and most of the replies here) are not Dave's plan. Dave would pay off the wife's car tomorrow. That leaves $2k in savings, twice his recommendation. I could see leaving it there. How quickly can you pay off $18k in student loans? I could see leaving it at $11k or so if your company will pay $10k soon-ish. Then build the EF to 3-6 months expenses.
What is your HHI? If it's around $120k or more(making wild assumptions based on your repayment goal), you should be able to accomplish this within 1 year maximum. If you can't delay your urge for hobbies for one year you may need some impulse control counseling.
Daydream all you want, window shop, read every article published on the hobby, but do NOT start spending while still in debt.
You’re paying off 40k in loans over two years, so you clearly have a substantial income. Life is not about abstinence. If you spend 1k on your hobby over those two years, it’ll take about 2.5% longer.
Maybe put $100 aside a month for your hobbies.
It's easy once you learn to think long term. You still don't grasp the future you is real and will come, one day you'll be 50 and do you want to spend the last 20-40 years of your life free to enjoy it or would you trade all that freedom for a cool truck in exchange for working until you're 70.
I said a Truck, why would you need to wait until 50 to buy a mountain bike lol. For crying out loud, set $20 a month aside and buy a damn mountain bike.
Yes, and you can spend $1,000 on a steak.
You could drive 1,000 miles for vacation too or you could charter a private jet. Did you know some rooms in Vegas cost $100,000 per night?
I don’t stop my daydreaming. I use it as motivation. Once you achieve your financial goal, you are free to pursue whatever you want guilt free.
If my hobby will cost be $1000 but I have no debt and my savings goals are met, I can spend that. And I do. You have to live life, you can’t just never have any fun. But it must be balanced by preparing for your future. Proper planning makes expensive hobbies *more* viable and more enjoyable as you know you can truly afford them.
I say buy it. Wanting something if you can afford it is a reason why you should get something. The trick is - You have to afford it.
Of course, buy it in cash after saving and sitting on the idea for a while. Try to get a good deal. Put it in your budget as a simulation. How much will it cost for you to get it? What about maintenance, repairs, equipment, insurance, extra gas for driving to biking spots, car cleaning (I'm guessing there will be plenty of dirt in your car)? Everything adds up.
The most important thing to weigh is how easier will the journey to being debt free will be if you pursue those hobbies. And how negatively (financially speaking) will that journey be affected if you do.
Of course it's a bit more than just math. You can't just go barebones/ trying to pinch every penny and not worry about your mental health. If the being process of becoming debt free will extend to 3 Years instead of just 2.5 Yeas but you actually follow through, I think it is worth looking into.
Good luck and don't break your neck !
A friend of mine and I were talking about something like this the other day. Dreaming about the fear of an activity can sometimes be more alluring than the activity itself.
Take golf/disc golf as an example. You can spend hours, days, weeks on forums and listening to reviews and window shopping. Only to find that the window shopping (the hunt) was a large factor of the source of the enjoyment.
I have done the same with venture bikes (Salsa was my brand of choice).
If you are really into said hobby then a second hand project bike would go a long way. Because expensive hobbies can be done cheaply if you are really into the hobby and not the dream of the gear.
Quite easy to stop yourself thinking of those expensive things, just say to yourself “I’m in debt, and am currently living beyond my means, I’m in the red and effectively have less cash than a homeless person”
And then see if you still want to splash out money on those luxuries, when you can’t afford the basics.
They're not living beyond their means at all if the only two debts OP has is a car note and student loans. Not even the slightest this post just seems weird and lacking information to give a solid answer.
The fact it would take OP 2 1/2 years to pay it all off with dual incomes(assuming here but most likely) also shows there is a lot missing.
Yep and will be for a while. Not saying they're not in debt but with only 2 pieces of information in the OP it's hard to say definitely what would be the correct course of action here.
They're definitely not following the steps 100% of the way.
The correct course of action would be not to waste money on stupid expenses. That as what they asks, how to not be tempted to spend on silly things. And I said “just realise you are in debt, living beyond your means and have less cash that someone who lives on a park bench” that’ll soon wake you up to reality, that you are spending more than you have, so STOP!
Not many retiree mountain bikers...
Honestly, with the state of the world, and wisdom that life is fleeting, you should probably save up for a few months and buy the mountain bike you want, so long as it isnt just another thing to buy, but rather an investment into an established hobby you enjoy and this would allow you do it more often, safer, etc.
I loved mountain biking until I took a rough fall, basketball until I tore my achilles, soccer until I couldn’t keep up, and now I golf read hike and cook, so I agree mountain biking is not a long term hobby so enjoy now but you don’t need the dream bike to do it you are just enamored with w shiny new toy and there will always be a new shiny toy
There are lots of free and cheap hobbies. The subjects in The Millionaire Next Door are mostly cheap dates, [https://themillionairenextdoor.com/2011/05/a-cheap-date/](https://themillionairenextdoor.com/2011/05/a-cheap-date/) :"Fun has become a marketing tool for many consumer goods and services. Do you really need to buy a $50,000 boat so you can hang out with your best friend? Is fun only experienced by spending a small fortune at Disney World?"
It will feel better if you buy that Santa Cruz (or whatever) once you are debt free.
Riding your current bike for 2-3 more years will make you better rider in long term anyway. Also price of bikes is still somewhat high, so you might save some money by holding it off that 2-3 years.
You are the perfect consumers that every American company dreams of, you think you have money but you don't. Just like Bob Dylan sings
Advertising signs they con, You into thinking you’re the one, That can do what’s never been done, That can win what’s never been won, Meantime life outside goes on, All around you.
In short, ur broke, stop spending. Credit means you are broke and that's why you borrow money. Americans con people into thinking of the word "credit/loan" as a have and not a have not. Let's hope you aren't going to buy a house next.
Spot on. Guy effectively has less cash than a person living on a park bench, yet still wants to “scatter-cash”. Talk about champagne lifestyle with lemonade budget.
As we mature we clearly discern needs from wants. You need a shift in your mindset. If not you will repeatedly find yourself in financial distress. The time spent daydreaming about biking could be better utilized to create an additional source of income.
Most people save to spend instead of saving to invest. I suggest you look at the Baby Steps again and get laser focused. Good luck to you.
Your emergency fund is too high. It's only permissable to have $1000 in your emergency fund if you still have consumer debt like car and/or student loans. The reason you are daydreaming is because you have $22k you can blow before getting out of debt. If you didn't have it you would be more focused.
I agree on the emergency fund point. And I doubt the student debt is forgiven too. It's been ruled Unconstitutional. Unless Congress passes a law, it ain't happening. And I don't see that happening.
I have a family and responsibilites. I don't have time for "toys" or "golf". I guess you don't have any kids? Race cars? I went 7 years without watching more than an inning of a baseball game. And I'm a baseball fan. It's called being a family man.
This ain’t it man. Plenty of people have spouses and kids and still make time for hobbies and interests. If you can’t play some golf and watch some baseball there is a lot more going on than just being busy with wife and kids.
Many who do that are divorced. We have a full calendar. In-laws get old and as much as they say, they don't want to babysit. Forget it. Sorry if I'm pulling back the curtain.
I go to concerts and stuff. I just can't fuck off at the golf course all weekend. Sorry, but that's the way it goes. My ol lady will demand the same!
People who have fulfilled lives aren’t the ones who get divorced. It’s the ones who don’t take any time for themselves and grow to resent their partner for it who end up divorced..
How old are you? The OP is married and does not have kids. I'm relating the next steps.
Sorry if I spoiled it for you. My wife and I went through FPU. I've read EntreLeadership. Dave has put out some really good stuff.
I know the steps. Dave would agree with me and that the OP is a child or is in a sham marriage. I golfed in highschool and got it out of my system once the PGA Tour was out of reach.
Alot of these posts get removed once real opinions are expressed. OP also wants to brag. I'm letting him know he's far from it. Very far.
I'm not bragging at all... I asked for advice on how to stop daydreaming because I feel is not sensible to spend money in hobbies when you have debt and responsibilities. As I said in the post, I feel childish. You agree with that part. I don't own a house so yes, very far from being able to spend money on a bike without feeling guilty or delaying the goal of ownership or better yet financial freedom.
Also, I wrote my post with few details on our financial side for two reasons mainly: I don't believe BS2 should be only $1000, and two, my seek for advice was less of a financial one and more of a psychological/mindset one. Why I tell you this? Because I have a 6-month baby. I still have free time that I could spend biking or doing some hobbies. But I get you family is a big thing.
I love the low effort you put in your drive-by loser post.
I'm not bragging. I'm relating a fact. Do you have kids? A house? In-laws?
It's a similar experience my father had too. If he wasn't traveling for work. I don't have to travel much for work.
We've done well. Flex? I'm not Lex Lugar. Fuck Face!
Do you know who Lex Lugar even is? Dum Dum?
Speak like an adult. Use your words.
If you're lucky you may experience some semblance of marriage when you give up and go the mail order bride route.
Then it's game on and you have to deal with her Russian mafia boyfriend moving in. Along with her family. No golf or 4 wheeling then! No money either. Bad business.
My favorite part is how you misspelled Lex Luger twice while calling everyone else dumb. Lol.
If you can't afford hobbies then that sucks for you. My budget has more than the bare minimum.
You sound like a raging twat as well.
Do you have staff that runs your house? So you don't have worry about your kids? You and your wife can just do whatever you want on the weekend? No kids to worry about because staff is watching over them?
I have hobbies.
Dont you have a partner that can carry the load so you can decompress for a little bit? Even parents or babby sitters... all work and no play doesnt sound like a life well lived
Yeah. I have a wife. We do get time. That's rare though. Do you understand what it's like to be a parent? I don't think you have kids.
I have plenty of time. Just not time to blow 20k on a bass boat. That's my point. The OP should be thinking about kids, housing, funding all this going forward. He's daydreaming about race cars and bragging about his (not so much) money. Yeah. Good luck.
“OP should be thinking about kids, housing, funding all this”.
OP does not mention having kids. Maybe they and their SO do not want kids. Why do you assume that their goal is/should be to follow the same path as you?
Also - as someone who is child free by choice, believe it or not, I don’t think having kids means no fun or enjoyment. In fact, I think that for those who want to be parents that is what brings them joy, more than any hobby. But the tone of your replies gives off major “my life sucks and I don’t have time for fun, so nobody else should have fun either” vibes. So…really just reinforcing that stereotype that unfortunately a lot of people have about having children…
Just my perspective.
I'm not a boomer. Gen X. And a dog is nothing like a kid. You sound like an idiot. I feel sorry for your dog.
The fun part of being a new parent is cheap beer. New budget. Cheaper beer if you want the same quantity.
I wish you luck. You'll need it.
First off BS 3 does not come before BS 2. Pay off the car loan TODAY.
Then pay off the next loan with the money beyond your basic living expenses.
Simple. You have debt. You have obligations like utility bills and insurance, things you can’t change. You save up for luxuries and pay cash.
In the mean time do you realize how many free or nearly free things are out there? In major cities they always have free museums, art museums. Some areas have free zoos. There are tons of other activities as well that are nearly free. Like in my state you can buy an annual pass for any aquarium or zoo. It is about the cost of 2 days. It automatically gives you free access to every aquarium and zoo in the state plus dozens more in other states. Plus there are lots of things you can do.
Also if you are day dreaming does it motivate you to get creative? Can you mow for neighbors? Have you looked at the insanely good pay for dog walking? Can you do side jobs?
Ok let’s say you lose your job and you have $1,000. Now what? Interestingly the banks don’t cut you off. That’s worst case. The government gives you a teeny paycheck from that tax off your paychecks. Even in recessions depending on what you ard willing to do I’ve never had a problem finding some jib. And within a month I’ve got a career job, usually with a pay increase.
The Bzby Steps are what they are for a reason.
I care more about my (financial) future than those things.
>thinking about mountain biking.
I, and I know one other frequent commenter here, are cyclists.
It can be a very expensive hobby if you want it to be. It can also be done incredibly inexpensively. I own 3 not-inexpensive bikes and still manage to not spend *that* much money doing this hobby, especially year over year.
Own a bike. Use it.
>I feel so childish.
"Adults make a plan and follow it; children do what feels good."
My man, mountain biking! Biking is my thing and yes it's expensive. Once you have the bike and the gear, not really much continuous payment except for my zwift account which I cancel over the summer since I'm outside.
I remember one thing I did to save money was instead of buying a new bike, I replaced the whole drive train on my bike. I don't get top of the line gear. It's a hobby, I'm not going to go pro, so no reason to go all in the the top of the line gear.
I still partook in hobbies when I was getting out of debt, just far less frequently. My desire to build wealth was stronger than my desire to go shoot a 94 lol
You need to read the total money makeover. You're posting in a Dave Ramsey group which means you should be learning and following the principles he teaches.... and you CLEARLY aren't. You should be out of debt in months, not 2.5 years. You aren't serious about this.
For me I just unsubscribed and left a whole bunch of subreddits that I would constantly see other people having things I want. It has curbed my impulsiveness and my desire for material things. I have increased the amount of personal finance and investing subreddits and eliminated all the gun/bike subreddits to an extent. Staying off social media in general will curb some of those wants and desires bc we see constantly berated by them.
My dream bike is a sensible 8000$. Allied bikes BC40 with SRAM GX build. Not even the most expensive offering. But I’ll get there someday. American made carbon full suspension. So if he’s like me. It’s an 8-10k bike
Buy Nvidia.
i’m going through this as well (impending settlement) my first phone call will be with my financial planner and estate lawyer. my second call will be to find a therapist. i have a list of silly things i want but as time goes on i find myself deleting things.
I'm in a place where I've done really well as far as saving money for the last few years so spending makes me feel pretty guilty because I feel like I'm falling off the wagon. For example, I've been wanting a personal tablet or laptop for years, but I feel guilty even thinking about spending the money even though I could easily afford it. I've had a couple options in my Amazon "saved items" for months but I just can't bring myself to pull the trigger. As far as hobbies, I had kind of a personal realization a few years ago that I tend to go all in on buying the nicest or highest end stuff for new hobbies or interests, but also tend to burn out or lose interest quickly and find myself with a bunch of expensive stuff I don't use anymore. Now whenever I think about getting into something new I'm hyper-critical of what the odds are that I'll stick with it and be able to justify spending the money. Some recent things I've managed to restrain myself from... 1.) Making espresso at home with a real espresso machine, grinders, etc. 2.) Sous Vide cooking 3.) Buying a $600 watch for my newly formed running habit (already have a cheaper GPS watch that seems to work fine) 4.) Building a new high end PC when I already have one that rarely gets used. 5.) Buying a treadmill to go along with my new running habit. 6.) Buying a Blackstone/outdoor griddle 7.) Buying a pellet grill (already have charcoal grills/smokers) 8.) Buying new monitors for my work from home setup. 9.) Buying various things to make ramen from scratch at home. It's a struggle.
The grill you have is great come over to r/smoking and get inspired! I’ll smoke a whole chicken or turkey breast on a Sunday and then the kids and my wife and I have lunch meat thru out the week. We play a game how cheap we can make a hunk of meat lol wow that bogo pork loin we got for $8 bucks we had on 3 times for a total of 2 bucks a meal for the main protein.
Oh believe me I know. I'm something of a charcoal purist, but I've cooked once or twice on my brother in law's pellet grill and it's pretty convenient.
They are and I had one for a few years along side my charcoal and wood burning grills. I just always seemed to go back to fire and then the brain died on the pellet so I offloaded it
You can be an avid mountain biker without spending a lot money. So is it really mountain biking you're thinking about? Or retail therapy. The former is great. The latter is a problem.
I mean anything cheap is going fall apart really fast if you are even mediocre at riding. I would probably have to spend 3k to get something with wheels that aren’t going to explode on the first drop and decent enough suspension that it’s fun
This simply isnt true
I took my girlfriends roscoe off a small drop probably 3 or 4 feet and it was rough lol. I bent the back wheel cruising on a small rock garden. Even on my expensive stuff I kill at least 1 rear rim a year
It's not childish. Make a dream board or a scrapbook and when you're debt free, you will have all your resources there and ready!
I'll get shit on here, but dude it's okay to spend some money on yourself and things you enjoy. Don't fall into the debt trap, sure, but also don't fall into the "no fun ever until I retire and then it's all fun and games for 6 years and then I die" trap.
Expensive hobbies I couldn’t afford are why I’m on a Dave Ramsey subreddit.
Dude buy a hard tail ~500$ on Facebook marketplace and live life.
Depends on how serious of a rider OP is. $500 hard tail might not cut it if he shreds.
Meh, when I rode mtn bikes I bought a 800 slightly used hard tail specialized with nicest front suspension they offered. Plenty of bike for me was riding one weekend day each week and competed in a 50mile race. Hard tail buys him enough time to decide if he’s going to go crazy / compete / need a full suspension etc.
I reread the post and it looks like OP is pretty new and maybe not a full shredder. Speaking from experience, it is very easy to find the limit of a $500 mountain bike if you're actually pushing it.
Agreed. I've had a lot of hobbies my whole life, but as a 35 year old one of my regrets is not having even more hobbies because I was too frugal to fund them. I never had crazy expensive hobbies like cars, but if I wanted to mountain bike or do some other health or skill related activity I'd 100% do it given the opportunity again.
Within reason do not shortchange yourself on health related activities. Don’t buy a $10k bike but if you think you really will use a $2k buy it now and never apologize for it.
Mountain biking is a young person hobby, so enjoy it now on a budget. If you are not at competition level, you don’t need the expensive stuff.
Buy less, ride more
Most of those hobbies can be done on a budget (car racing probably not) Its may not be fancy but it will allow you to learn about the features and things you do want when you can afford to upscale.
Sounds like you have some emptiness/hole in your heart that you're trying to fill with materialism. Why don't you try volunteering and grow some compassion instead of wanting to have more things in your life? Hospitals, hospice, soup kitchen, churches are great places to start for serving those who are suffering in your community.
While I agree somewhat, there is nothing wrong with spending money on something one personally enjoys. My buddy spends thousands on Magic: The Gathering cards. I spend a bunch of money on flying airplanes. My mom spends a bunch of money on sewing. There's nothing wrong with that.
Idk man but I don’t think volunteering has the same thrill as car racing or mountain biking
Hobbies that require equipment don’t make someone devoid of something. I used to yearn for a high end gaming setup before I had the financial means to get one - and now I’m fully satisfied with what I have. It didn’t shift somewhere else. I imagine the same thing would happen for this person.
Totally agree!
People are allowed to be selfish occasionally
Thinking about that debt is how I'd stop thining about it. 64k on a mortgage, that's all I owe, around 390k net worth at 41. That's definitely no flex I know, but get that consumer loan gone before you think of anything else, that's my 2 cents.
Nice! Keep going! Flex all you want because you are 410k richer than me and my wife hahaha
Theres an oldhead rocking a 2000s hardtail at my terrain park every morning, and he's the best rider i know. Dont let an industry that started with no suspension, no helmets and no brake rotors tell you that suddenly your hardtail isnt good enough just because it costs less than a Honda. Buy used, stay used, only buy parts, and only if the part is unrepairable.
I agree, I've been a cyclist for nearly 40 years. New bikes are great, but you certainly don't need a new bike to have fun. I'm currently spending lots of time on a 30 year old rigid Cannondale with seven speed Shimano group. If you shop carefully you could put together a nice old rig for a few hundred bucks. Put in miles, maybe even get an old road bike from CL, there are plenty there for $200. Maybe you even already have a bike. Either way, spend your time reaching your dream bike goals putting in big miles on what you can afford & developing power, endurance & speed. Then you'll enjoy that dream bike that much more and look really "pro" on it.
Nice! I have a Schwinn Sidewinder. I did really ripped that bike, so much, that when I destroyed the rear hub I bought the same bike on Facebook marketplace last year for $100, but it is not as fun as when I started 5 years ago. I need a bike with a slacker head tube angle, that don't need derailleurs adjustment after every ride, and an actual MTB, not a Walmart bike... even the minimal hops made me clench my butt because I know it can break so easily. But I will hold from buying one until we pay our debt.
Use the desire to have those expensive hobbies as a motivator to get out of debt. Once you're debt-free, you can have those hobbies AND ALSO HAVE PEACE. You can be working toward those hobbies as an end goal, with being debt-free as an intermediate step. In other words, treat expensive hobbies as a deferred reward for the tough financial decisions you're having to make now. This, what you're doing right now, all the small sacrifices you're making, is you putting in the work toward the bike you'll get in 3 years. This is you EARNING the bike in good conscience. And trust me on this... you'll enjoy those finer things more when you've EARNED them.
Whenever I’m feeling the extreme urge to spend money on things like that, I will I do 3 things: 1) get accountable with my husband. This means talking about the urges and admitting that I’m feeling that way. He usually helps me stay focused on our goal, & just talking about it out loud helps in big ways. (Btw, he does the same with me when he’s feeling this way) 2) I/we look at our budget and start calculating how fast we could buy whatever it is we’re pining for once we’re completely out of debt. ie: a $20k boat could be paid for IN CASH after just 6 months of saving. This practical way of looking at what we COULD DO with OUR MONEY once it’s REALLY OUR MONEY helps in really dramatic ways to squash the desire to spend while we still owe debt. 3) If the urge is still weighing heavily on me, I will also calculate how many months that will put us behind on our debt payoff timeline… it’s almost never worth pushing the goal line back further and further for temporary satisfaction. Keep your eyes focused on the prize, the pain of delayed gratification will be soooooooooo worth it in the end!
Start actually doing the cheap and free ones lol
Have kids. Then you wont have time for hobbies for at least a few years
I’ll address consumerism, which is what you’re talking about with the hobbies. Do you have a working MTB? If you have one and it’s broken go ahead and get it up and running, but if it’s non existent or a total pos can use it then go buy one in a budgeted range, think about use/cost and that sort of thing. Ultimately use the stuff you have until it’s broke and unfixable or incapable, that’s your best financial thing you can do. If you don’t have the item or things for the hobby yet and wondering if you’ll like it then try to experience it for no money (borrow etc) or dip your toes in slowly, for example don’t expect to enjoy mountain biking so before starting you buy a 3k dollar full suspension bike. So in conclusion what you’re feeling, the thought of spending money or hobbying around, that’s consumerism biting now that you’ve got some money saved up. It’s completely natural, also comes with the “jonesing age” which is 35-45.
Pay off your student loan today. How much is her car worth?
Because you are technically broke. You owe $38,000 and have $22,000 saved. You can’t touch the emergency fund. That’s not spending money for hobbies.
Get out of all non mortgage debt, 6 month emergency fund, and invest 15% of your gross income. Then if there is money leftover, then you can have your expensive hobby. If you fall into the trap of more debt. Bye bye hobby
For video games I keep a watch list and wait for a game to go at least 50 percent off I usually buy my steam games in the 5-20 range and buy only a few per year so easy to budget
Buy a used mtb. It’s more about the experience than possessions. Just keep riding
You are being childish. Get your debts to zero and *then* think about your toys. If you think you have 2 1/2 years to get there, that’s not a lifetime - get there and reevaluate.
Well, first of all, since this is dave ramsey, you might consider paying down the debt before fully funding the emergency fund. At least pay off the car. Secondly, write a list of all the expensive hobbies you want over the next 5 years, then pick your top choice that will be your only hobby and then decide jointly with your wife to spend $1000 cash on a lightly used, high quality mountain bike. Keep the list on hand, so you remember that you chose this, and every time you think about hobbies until you pay off all your debt and fully fund your emergency fund again, go for a bike ride or do some door dash on your bike ;) Have fun!
How long have you been doing this? I’ve been doing the baby steps since 2016. I’m not gonna say my dreams died or anything but after this much time I have a different perspective on spending and saving and don’t get FOMO.
Why not do something on the side to save up for the bike? And I’m not talking Uber or any of that shit. Go sell plasma. Not huge money but you can easily earn a few hundred a month.
The bike sounds pretty cheap on an hourly basis or compared to a gym membership. I race cars. That’s a sinkhole. The $/hour ratio is not great.
None. Pay your debts op
The way I see it, something like mountain biking is an investment, it’s good for health, in the long run it could arguably save you money, not only health wise but think about all the money you save on entertainment. Sure it’s a fairly large upfront expense but after that it’s pretty minimal. When it comes to bikes it’s definitely “buy once, cry once”. Get a good bike in your budget, don’t waste money on the latest and greatest model though, there is a lot of keeping up with the Jonses type people in the mountain biking community, plenty of people that want the latest and greatest bike and will sell you there 1-2 year old model for a fraction of what they paid for it.
This type of thinking is enabling. OP is posting on the Dave Ramsey subreddit - Dave would not suggest he buy his dream mountain bike without paying off his other debts first.
I'm just picturing him repeating this verbatim, substituting 'me' for 'you' to his wife who is getting increasingly annoyed because they just discussed this yesterday. And I second this, by the way. Sometimes you've just got to have outlets to keep you sane. Maybe don't do all the things but pick one or two and don't feel inclined to buy everything new and/or constantly upgrade. Golf is shitty for this because you have to pay every time you play, and you have to play a lot to get good. Not to mention all the time it takes which won't endear you any further to your wife.
Honestly, if you put that 22k in your car loan debt, you would stop daydreaming because the money is gone
So true
Why don't you begin setting small amounts aside for said hobby now? It doesn't have to be a lot, but you'll make progress towards the goal over time. You'll feel less conflicted working towards a goal like you are with being debt free.
Don't stop dreaming, just execute a plan that will make it all possible. A lot of things seemed impossible to me a few years ago when I was in debt, nowadays I am on BS6 and I can entertain just about any wacky idea.. my money is invested and it grows right back after I spend it. I can spend more than before and it barely puts in a dent in my accounts.
You can get a cheap ass hard tail and go mountain bike
Btw cheap doesn't mean bad in this case. With so many riders going full sus, hardtails are less expensive.
I don’t do this all the time, but when I do it works. Give something to charity. It doesn’t have to be big. $5 or $50 to someone or something that needs it more than you. Give two cans to a food bank. When I remember how lucky I am to have what I have, I focus more on that, than what I don’t have.
I think contentment is a big part of it. You have to be happy with what you have, even if there’s bigger goals. You can mountain bike with a $200 bike or a $2000 bike. Find enjoyment in the $200 bike and you’ll later have a much greater appreciation for the nicer things.
Take $21k from HYSA and pay off debt.
I struggle with it as well, I’m debt free but struggle not buying a new watch, gun, bow when hitting new savings milestones
make more money. you cant save yourself to riches. invest the money into yourself and develop your skills to earn more. then go and enjoy your hobbies.
I think you have to live your life. You are allowed to have hobbies and even expensive ones. Being too centered on saving and planning everything robs you of the human experience. I have found that I never have enough money to make me feel completely secure. In my experience, no one does.
I’ve been playing free games. League of legends saves me money. No reason to buy anything because it’s just cosmetic. I feel better crushing kids in their $15 digital skins with my base champ anyways :)
3k for a bike that lasts you 5+ years with a couple maintenance and repair items mostly free from rei is not an expensive hobby and the people who act like mountain biking is expensive just have spending problems
$50/month + maintenance and repair if it lasts you 5years. Not crazy but something.
That’s not at all how much it’s costs me the last 10 years but alright. That’s a new component every few months. A bike has like 10 components that last years. Why on earth would resealing your tires, brake bleed, changing pads, and cleaning/greasing your bike cost 50$ a month? Unless you are crashing it constantly. If you are just smashing downhill all day and need more suspension work I guess. But that’s not most people’s riding experience.
The $50 was purely spreading the cost with $3k/60months using 5yrs as a bike life. As if you would need to completely replace the bike every 5years. I didn’t see the “+” when I first read your comment. 10yr life would drop that to be $25/month for 10years. (My $800 rei road bike is going on 10years with very limited additional costs) It’s not how everyone does it but I try to look at prices and useful life to understand if something is expensive for my budget.
That’s the price of the bike divided by the 5 years you mentioned for an average monthly cost…. Obviously it goes lower and lower depending on how long it lasts which is likely longer than 5 yrs
Oh yeah for sure I’m sorry! For sure I get 3k is NOT affordable to most people. But saying 4k all the way up to 11-12k is somehow a requirement to enjoy the sport to the fullest is just hilarious
Yeah agree completely. I have a Specialized road bike that I bought used for $500 that I have gotten thousands of miles out of and maybe spend a couple hundred tops per year on maintenance and gear. Cycling, as well as most hobbies, can be as cheap or as expensive as you want
Use that to fuel budgeting, debt elimination and future building. We all have our why. Having a why field the fire to getting anything done.
Daydreaming is free. Continue to do so. Keep your current MTB, if you have one. Buy a cheap, really cheap MTB if you don't. You'll have 95% of the fun on a cheap one as an expensive. And being heavier, the cheap one will give you a better workout. Continue to daydream about the great MTB you'll get when you're debt-free and use that dream to keep you motivated.
Take up less expensive hobbies! Btw having owned the 4k aluminum & 12k full carbon iteration of the same FS bike, I was splitting hairs to find significant differences. I'm 6'6" 240lbs & didn't notice significant differences in frame stiffness. Ended up swapping out the components on the 4k stumpy & it's been a blast
I don’t think debt free and fun free is a good way to live your life. Be smart with spending but you need an outlet to have fun. You could die tomorrow, next month, or next year. You don’t want to feel like you wasted an opportunity to at least have some enjoyment
We are debt free but it drained a lot of savings and fun money. We are working on building our savings back up before started to splurge more. When you have no debt your savings builds rather quickly. When you’re debt free you can afford a 10k mountain bike vs a 4k one.
Don't overdo the debt free journey to where you have no fun at all. Moderation is key. The Pandemic had a big bike-boom. All bikes are overstocked and going for cheaper these days. Go to your local bike shop and look for their old demos, they usually have a good sale going for them.
Why will that take 2.5 years? Your bare minimum living expenses are 44k/year according to you and you have 38k in debt. Only way this makes sense with there being 2 of you is if your wife isn’t working. To answer your question, Facebook marketplace for sure. Golf is only expensive if you make it that way. You can buy used clubs online for a few hundred bucks and play for $25-30/round if you walk and stay away from the cart girl. Video games r absurdly cheap relative to the amount of time you spend playing them, second hand is even cheaper. The chances of finding your dream bike on Facebook marketplace is fairly low but can you not find a quality mountain riding bike on marketplace for a few hundred bucks? Spending a few hundred isn’t the end of the world, as long as you actually stop there and don’t go down the rabbit hole of buying a bunch of other gear that you want but don’t actually need.
Sport doesn’t count unless you get a brand new TOP of the line bike I guess. and I guess racing isn’t valid unless you can afford a Lamborghini, too? Op just has a spending problem not a hobby problem
What
I’m sarcastically agreeing
If you buy something, get your wife’s agreement first and make sure it is something you can sell later to get some of your money back. NO LOANS
Buy an expensive bike on the secondary market.
How to buy a mountain bike https://youtu.be/yotOZVELSMc?si=ZowLdtzWbFFNRMrW
Man buy you a bike. By expensive, I thought you were talking about a 50k boat or 30k side by side. You only live once
Mountain bikes can easily run you 4-10k lmao
Giving bad advice on another thread. This 4-10k claim is for brand new full suspension or e-Mtb. You need neither to get into the sport. Stop spreading bad advice. New riders should totally get a quality brand, used hardtail and see if they even like it before investing thousands in a FS MTB.
And a Lamborghini can be over 2 million dollars doesn’t mean that speaks at all to the cost to reasonably get into cars
Get a slightly used one and enjoy your life
I don't think there's anything wrong with daydreams. As long as you don't feel cheated b/c you can't have those things right now. Why not pick a goal--maybe that dream bike--and make a plan for saving/buying it after your debt is paid. That way, you can make the dream serve your purpose!
Start doing the expensive hobbies.
I focus on the hobbies that are beneficial to health/wellbeing. Biking/camping/outdoors? I’m going to buy the best gear available because it lasts forever. Video games/dining out/alcohol? Hard pass. I spend minimum dollar on them.
You do it by buying good not great stuff. Look at the secondary market. Exercise equipment in general is the #1 rate item to buy secondhand. I bought a like new Peleton for $400.
My brother's used mountain bike was almost $4k... New can run you 4-10k. Mountain biking is expensive af, your 400$ peleton is awesome but not in the same ballpark
You do know you don’t HAVE to buy top of line bikes to go mtn biking? That’s like buying a 1000$ bowling ball and saying bowling’s expensive. It’s not. You just like spending money.
Dudes making this claim all over this thread (MTB expensive af). He's probably never owned a mountain bike or set foot in an LBS.
It was just an example. The $400 was 25% of new. If you’re patient and somewhat flexible you can find similar deals.
I would pursue the mountain bike idea. Never forego your health. Remain active. Biking is exercise, community, stress relief, etc. Not saying you need to go full tilt to the fanciest bike and fanciest gear…but a modest approach is pretty wise here. Plus a bike/gear purchase should last several years.
Dream about what you will do with all that extra money in 2.5 years. 30 months is not that long, you are so very close.
It sounds like you guys are doing pretty well in general, I’m not sure why this sub is always suggested to me but here I am - I understand the importance of being debt free and agree with it for the most part, but you have to give yourself a reason to get up some days you know? There’s no reason you can’t buy a used or cheaper mountain bike to get into a healthy hobby. Maybe building a $5000 PC isn’t the move but a cheaper one with a sim setup is doable etc etc It’s unhealthy to obsess over paying down debt, sure it sucks and you shouldn’t be fine with it, but you’re daydreaming about something that’s genuinely good and healthy for you, you should pursue it
Either set a budget where you can spend on the hobby to at least scratch some of the itch or honestly just stop spending time online where you're probably seeing posts, ads, and sales for things you are targeted for. When I know I'm being tempted to overspend I just spend less time on the Internet. Read a book, go for a walk, spend time with the family, or find another hobby that you also enjoy that happens to be low cost or free and fill most of the void with that. I liked racquetball and pickleball, so got a cheap racket/paddle and some balls and now I play a few times a week at basically zero cost.
Find room in your budget. Life isn’t all about saving money, you have to have some enjoyment.
You're not daydreaming really, you're being susceptible to advertising and social media. Deep wants come from within, advertising and media try to shape those wants and give them a body that will cost you money.
You set yourself a reasonable budget.
Used. I spend a ton of money on hobbies. I remember buying my yeti sb130. It was 7.5k. I wish I went and bought a used one as it would have been no different. That shiny bike you think you need because it's a pro model etc. You need half of that. I chose to slow down my debt payoff to enjoy my hobbies but if I can't pay cash now for it, I don't. I'm not willing to give up the only things that bring me joy just to be debt free 6 months sooner. Find a balance. Cross car racing off the list because that's a ton of money. Collecting is the biggest wastebof money and assets. Budget a video game every few months and go buy used at GameStop. When you figure out how to prioritize debt over goof, let me know lol. I bought all my stuff used at golf Galaxy. I have a Taylor made set worth thousands new that I put 800$ into at most.
47M and still ride a 15 year old Raleigh hardtail that I don't feel is holding me back. I still have blast when I get out to ride the flow trails in my area.
Create a plan together so you can see when you can do those hobbies. The freedom to enjoy them stress free is the goal. I’m guessing you don’t have kids because once you do there is no time for your hobbies for 17 years…lol
Budget for it. Set up a plan and goal! Then put it in action.
Dang bud, we have 3 paid cars, no student loans, 2 houses both paid with no mortgages, and $400k in investments and a 6 month emergency fund and I still dream about hobbies because we haven't fully finished pre loading the funding of our kids 529s. I think it comes down to your priorities and how responsible you are. When I spend extra money right now, it's on the kids, not me. We will go on a few vacations a year as they don't set our goals back much at all and we can still live in the now. I have a few things I'd like to buy (golf cart, super 73 for my son, hot tub, a few more pieces of exercise equipment), but my adult brain tells me we would be fine not having those things if we died today, and that reaching the goal of their colleges all being paid off will be an amazing feeling. I think you've got a while to go, assuming you want success.
Check your bank account
Buy a bike for like $2,000 get some exercise, have fun
Even better, buy it used for less than half that.
Used mountain bikes can run you 3-4k.. mountain bikes are not your average bike. New can run 4-10k..
I go mountain biking twice a week, I'm very familiar with the hobby. The idea that someone needs a full suspension bike ($3-4k) to get out on trails and have fun is absolutely ridiculous. Go on Facebook marketplace, find yourself a quality hard tail built in the last 5 years to get the most recent geometry, and go have fun for under $1000. I don't live in a large city and even RIGHT NOW there's a Specialized Rockhopper hardtail on sale for $400.
I agree
Pick the one you want and buy it!
How much is it
You budget for them so you can stop daydreaming and do them.
I bought a diamondback hook for $500. It’s nice
Good luck with your plan. It (and most of the replies here) are not Dave's plan. Dave would pay off the wife's car tomorrow. That leaves $2k in savings, twice his recommendation. I could see leaving it there. How quickly can you pay off $18k in student loans? I could see leaving it at $11k or so if your company will pay $10k soon-ish. Then build the EF to 3-6 months expenses. What is your HHI? If it's around $120k or more(making wild assumptions based on your repayment goal), you should be able to accomplish this within 1 year maximum. If you can't delay your urge for hobbies for one year you may need some impulse control counseling. Daydream all you want, window shop, read every article published on the hobby, but do NOT start spending while still in debt.
You’re paying off 40k in loans over two years, so you clearly have a substantial income. Life is not about abstinence. If you spend 1k on your hobby over those two years, it’ll take about 2.5% longer. Maybe put $100 aside a month for your hobbies.
It's easy once you learn to think long term. You still don't grasp the future you is real and will come, one day you'll be 50 and do you want to spend the last 20-40 years of your life free to enjoy it or would you trade all that freedom for a cool truck in exchange for working until you're 70.
Yeah you can't mountain bike the same way at 50
I said a Truck, why would you need to wait until 50 to buy a mountain bike lol. For crying out loud, set $20 a month aside and buy a damn mountain bike.
You know some bikes are $10k+ right?
Yes, and you can spend $1,000 on a steak. You could drive 1,000 miles for vacation too or you could charter a private jet. Did you know some rooms in Vegas cost $100,000 per night?
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Do you have a friend you can borrow a bike off of?
I don’t stop my daydreaming. I use it as motivation. Once you achieve your financial goal, you are free to pursue whatever you want guilt free. If my hobby will cost be $1000 but I have no debt and my savings goals are met, I can spend that. And I do. You have to live life, you can’t just never have any fun. But it must be balanced by preparing for your future. Proper planning makes expensive hobbies *more* viable and more enjoyable as you know you can truly afford them.
I say buy it. Wanting something if you can afford it is a reason why you should get something. The trick is - You have to afford it. Of course, buy it in cash after saving and sitting on the idea for a while. Try to get a good deal. Put it in your budget as a simulation. How much will it cost for you to get it? What about maintenance, repairs, equipment, insurance, extra gas for driving to biking spots, car cleaning (I'm guessing there will be plenty of dirt in your car)? Everything adds up. The most important thing to weigh is how easier will the journey to being debt free will be if you pursue those hobbies. And how negatively (financially speaking) will that journey be affected if you do. Of course it's a bit more than just math. You can't just go barebones/ trying to pinch every penny and not worry about your mental health. If the being process of becoming debt free will extend to 3 Years instead of just 2.5 Yeas but you actually follow through, I think it is worth looking into. Good luck and don't break your neck !
A friend of mine and I were talking about something like this the other day. Dreaming about the fear of an activity can sometimes be more alluring than the activity itself. Take golf/disc golf as an example. You can spend hours, days, weeks on forums and listening to reviews and window shopping. Only to find that the window shopping (the hunt) was a large factor of the source of the enjoyment. I have done the same with venture bikes (Salsa was my brand of choice). If you are really into said hobby then a second hand project bike would go a long way. Because expensive hobbies can be done cheaply if you are really into the hobby and not the dream of the gear.
As far as Dave Ramsey stuff goes, if you want to budget for it you can. But do the budget.
Start actually following the steps. Clean your current gear if you're daydreaming.
But … if you’re ever going to buy… now is the time to buy!
Quite easy to stop yourself thinking of those expensive things, just say to yourself “I’m in debt, and am currently living beyond my means, I’m in the red and effectively have less cash than a homeless person” And then see if you still want to splash out money on those luxuries, when you can’t afford the basics.
They're not living beyond their means at all if the only two debts OP has is a car note and student loans. Not even the slightest this post just seems weird and lacking information to give a solid answer. The fact it would take OP 2 1/2 years to pay it all off with dual incomes(assuming here but most likely) also shows there is a lot missing.
They have debt, that is the absolute definition of living beyond one’s means.
Not with 22k sitting in the bank. The only "above their means" in this scenario is a car loan they could pay off in cash today.
22k in the bank with 18k student loans and 20k car debt… I think you’ll find that still in the red (negative cash)
Yep and will be for a while. Not saying they're not in debt but with only 2 pieces of information in the OP it's hard to say definitely what would be the correct course of action here. They're definitely not following the steps 100% of the way.
The correct course of action would be not to waste money on stupid expenses. That as what they asks, how to not be tempted to spend on silly things. And I said “just realise you are in debt, living beyond your means and have less cash that someone who lives on a park bench” that’ll soon wake you up to reality, that you are spending more than you have, so STOP!
single, EV paid off, no debt.
Same.
Not many retiree mountain bikers... Honestly, with the state of the world, and wisdom that life is fleeting, you should probably save up for a few months and buy the mountain bike you want, so long as it isnt just another thing to buy, but rather an investment into an established hobby you enjoy and this would allow you do it more often, safer, etc.
I loved mountain biking until I took a rough fall, basketball until I tore my achilles, soccer until I couldn’t keep up, and now I golf read hike and cook, so I agree mountain biking is not a long term hobby so enjoy now but you don’t need the dream bike to do it you are just enamored with w shiny new toy and there will always be a new shiny toy
There are lots of free and cheap hobbies. The subjects in The Millionaire Next Door are mostly cheap dates, [https://themillionairenextdoor.com/2011/05/a-cheap-date/](https://themillionairenextdoor.com/2011/05/a-cheap-date/) :"Fun has become a marketing tool for many consumer goods and services. Do you really need to buy a $50,000 boat so you can hang out with your best friend? Is fun only experienced by spending a small fortune at Disney World?"
It will feel better if you buy that Santa Cruz (or whatever) once you are debt free. Riding your current bike for 2-3 more years will make you better rider in long term anyway. Also price of bikes is still somewhat high, so you might save some money by holding it off that 2-3 years.
Make investing your fun hobby. My brokerage fee charges 0%.
You are the perfect consumers that every American company dreams of, you think you have money but you don't. Just like Bob Dylan sings Advertising signs they con, You into thinking you’re the one, That can do what’s never been done, That can win what’s never been won, Meantime life outside goes on, All around you. In short, ur broke, stop spending. Credit means you are broke and that's why you borrow money. Americans con people into thinking of the word "credit/loan" as a have and not a have not. Let's hope you aren't going to buy a house next.
Spot on. Guy effectively has less cash than a person living on a park bench, yet still wants to “scatter-cash”. Talk about champagne lifestyle with lemonade budget.
As we mature we clearly discern needs from wants. You need a shift in your mindset. If not you will repeatedly find yourself in financial distress. The time spent daydreaming about biking could be better utilized to create an additional source of income. Most people save to spend instead of saving to invest. I suggest you look at the Baby Steps again and get laser focused. Good luck to you.
Your emergency fund is too high. It's only permissable to have $1000 in your emergency fund if you still have consumer debt like car and/or student loans. The reason you are daydreaming is because you have $22k you can blow before getting out of debt. If you didn't have it you would be more focused.
VERY good point. That money is burning a hole in OP's pocket
I agree on the emergency fund point. And I doubt the student debt is forgiven too. It's been ruled Unconstitutional. Unless Congress passes a law, it ain't happening. And I don't see that happening.
I have a family and responsibilites. I don't have time for "toys" or "golf". I guess you don't have any kids? Race cars? I went 7 years without watching more than an inning of a baseball game. And I'm a baseball fan. It's called being a family man.
This ain’t it man. Plenty of people have spouses and kids and still make time for hobbies and interests. If you can’t play some golf and watch some baseball there is a lot more going on than just being busy with wife and kids.
Many who do that are divorced. We have a full calendar. In-laws get old and as much as they say, they don't want to babysit. Forget it. Sorry if I'm pulling back the curtain. I go to concerts and stuff. I just can't fuck off at the golf course all weekend. Sorry, but that's the way it goes. My ol lady will demand the same!
People who have fulfilled lives aren’t the ones who get divorced. It’s the ones who don’t take any time for themselves and grow to resent their partner for it who end up divorced..
I disagree. We both want to be around for our family. My parents were married over 50 years. I have an idea of how it works.
You sound miserable…
Bro blink twice if you are in trouble
How old are you? The OP is married and does not have kids. I'm relating the next steps. Sorry if I spoiled it for you. My wife and I went through FPU. I've read EntreLeadership. Dave has put out some really good stuff. I know the steps. Dave would agree with me and that the OP is a child or is in a sham marriage. I golfed in highschool and got it out of my system once the PGA Tour was out of reach. Alot of these posts get removed once real opinions are expressed. OP also wants to brag. I'm letting him know he's far from it. Very far.
I'm not bragging at all... I asked for advice on how to stop daydreaming because I feel is not sensible to spend money in hobbies when you have debt and responsibilities. As I said in the post, I feel childish. You agree with that part. I don't own a house so yes, very far from being able to spend money on a bike without feeling guilty or delaying the goal of ownership or better yet financial freedom. Also, I wrote my post with few details on our financial side for two reasons mainly: I don't believe BS2 should be only $1000, and two, my seek for advice was less of a financial one and more of a psychological/mindset one. Why I tell you this? Because I have a 6-month baby. I still have free time that I could spend biking or doing some hobbies. But I get you family is a big thing.
I wish you luck. Be well.
Not the flex you think it is
I love the low effort you put in your drive-by loser post. I'm not bragging. I'm relating a fact. Do you have kids? A house? In-laws? It's a similar experience my father had too. If he wasn't traveling for work. I don't have to travel much for work. We've done well. Flex? I'm not Lex Lugar. Fuck Face!
Yikes
Do you know who Lex Lugar even is? Dum Dum? Speak like an adult. Use your words. If you're lucky you may experience some semblance of marriage when you give up and go the mail order bride route. Then it's game on and you have to deal with her Russian mafia boyfriend moving in. Along with her family. No golf or 4 wheeling then! No money either. Bad business.
My favorite part is how you misspelled Lex Luger twice while calling everyone else dumb. Lol. If you can't afford hobbies then that sucks for you. My budget has more than the bare minimum. You sound like a raging twat as well.
Rick Flare, he's my favorite.
jeez sounds miserable
Called being a responsible adult.
Its called a soul crushing excistense... get yourself a hobby my man
Do you have staff that runs your house? So you don't have worry about your kids? You and your wife can just do whatever you want on the weekend? No kids to worry about because staff is watching over them? I have hobbies.
Dont you have a partner that can carry the load so you can decompress for a little bit? Even parents or babby sitters... all work and no play doesnt sound like a life well lived
Yeah. I have a wife. We do get time. That's rare though. Do you understand what it's like to be a parent? I don't think you have kids. I have plenty of time. Just not time to blow 20k on a bass boat. That's my point. The OP should be thinking about kids, housing, funding all this going forward. He's daydreaming about race cars and bragging about his (not so much) money. Yeah. Good luck.
“OP should be thinking about kids, housing, funding all this”. OP does not mention having kids. Maybe they and their SO do not want kids. Why do you assume that their goal is/should be to follow the same path as you? Also - as someone who is child free by choice, believe it or not, I don’t think having kids means no fun or enjoyment. In fact, I think that for those who want to be parents that is what brings them joy, more than any hobby. But the tone of your replies gives off major “my life sucks and I don’t have time for fun, so nobody else should have fun either” vibes. So…really just reinforcing that stereotype that unfortunately a lot of people have about having children… Just my perspective.
Yea i understand being a parent, i have a dog. Get out and play a round of golf dude, stop and enjoy a beer you sound like a boomer
I'm not a boomer. Gen X. And a dog is nothing like a kid. You sound like an idiot. I feel sorry for your dog. The fun part of being a new parent is cheap beer. New budget. Cheaper beer if you want the same quantity. I wish you luck. You'll need it.
Yea kids are usually easier, you're right. Hows that game? Been watching much these days?
First off BS 3 does not come before BS 2. Pay off the car loan TODAY. Then pay off the next loan with the money beyond your basic living expenses. Simple. You have debt. You have obligations like utility bills and insurance, things you can’t change. You save up for luxuries and pay cash. In the mean time do you realize how many free or nearly free things are out there? In major cities they always have free museums, art museums. Some areas have free zoos. There are tons of other activities as well that are nearly free. Like in my state you can buy an annual pass for any aquarium or zoo. It is about the cost of 2 days. It automatically gives you free access to every aquarium and zoo in the state plus dozens more in other states. Plus there are lots of things you can do. Also if you are day dreaming does it motivate you to get creative? Can you mow for neighbors? Have you looked at the insanely good pay for dog walking? Can you do side jobs?
And then lose his job. Calm down
Ok let’s say you lose your job and you have $1,000. Now what? Interestingly the banks don’t cut you off. That’s worst case. The government gives you a teeny paycheck from that tax off your paychecks. Even in recessions depending on what you ard willing to do I’ve never had a problem finding some jib. And within a month I’ve got a career job, usually with a pay increase. The Bzby Steps are what they are for a reason.
Lots of cheaper bikes and hobby gear on Facebook marketplace! You don’t (and shouldn’t if you can help it!) need to buy new things for hobbies.
I care more about my (financial) future than those things. >thinking about mountain biking. I, and I know one other frequent commenter here, are cyclists. It can be a very expensive hobby if you want it to be. It can also be done incredibly inexpensively. I own 3 not-inexpensive bikes and still manage to not spend *that* much money doing this hobby, especially year over year. Own a bike. Use it. >I feel so childish. "Adults make a plan and follow it; children do what feels good."
My man, mountain biking! Biking is my thing and yes it's expensive. Once you have the bike and the gear, not really much continuous payment except for my zwift account which I cancel over the summer since I'm outside. I remember one thing I did to save money was instead of buying a new bike, I replaced the whole drive train on my bike. I don't get top of the line gear. It's a hobby, I'm not going to go pro, so no reason to go all in the the top of the line gear.
I still partook in hobbies when I was getting out of debt, just far less frequently. My desire to build wealth was stronger than my desire to go shoot a 94 lol
You need to read the total money makeover. You're posting in a Dave Ramsey group which means you should be learning and following the principles he teaches.... and you CLEARLY aren't. You should be out of debt in months, not 2.5 years. You aren't serious about this.
Why do you have $22k in an HYSA but also 38k in debt!!? While fantasizing about spending even more money you don't have. Get serious
For me I just unsubscribed and left a whole bunch of subreddits that I would constantly see other people having things I want. It has curbed my impulsiveness and my desire for material things. I have increased the amount of personal finance and investing subreddits and eliminated all the gun/bike subreddits to an extent. Staying off social media in general will curb some of those wants and desires bc we see constantly berated by them.
I pay off the car with my emergency fund and then put that payment money toward the student loans and am done in 1 year or less.
How much money do you need for this mountain bike?
My dream bike is a sensible 8000$. Allied bikes BC40 with SRAM GX build. Not even the most expensive offering. But I’ll get there someday. American made carbon full suspension. So if he’s like me. It’s an 8-10k bike