Butch on a Budget

Cassie and I will sometimes find ourselves watching House Hunters International if we’re having a lazy Sunday. And every few episodes there will invariably be a couple who blows their budget because they just have to have that extra bedroom for when their family and friends visit. 

They’ll choose a house in a worse location, and spend $300 more a month, just to have that extra bedroom for visitors. 

I love hosting my friends and family as much as the next person, but this just doesn’t make sense to me. I can’t imagine choosing to spend an extra $3,600 a year just to accommodate two or three weeks worth of visits. Especially if it means I’m living further away from where I would prefer to be day-to-day. In many of these cases they could pay for all or a portion of an airbnb for any visits for less or the same and have the privacy of not having their guests stay in their home. 

But this phenomenon pops up all the time in our financial lives – not just on House Hunters International. People pay a premium when making major financial decisions to accommodate that once or twice a year occasion. Whether it’s taking on a bigger mortgage or rent for future visitors,  buying a bigger and more expensive truck with worse gas mileage for the one or two times a year you need to haul something, or going all in on a new recreational hobby to make sure it sticks before you buy a four wheeler, boat, or camper.

This leads to more day to day financial stress and negative tradeoffs, when there is usually a simple solution to get the best of both worlds: rent, borrow, or pay as needed when the need or desire arises. 

Don’t buy the pickup truck that costs way more and guzzles gas everyday, just for the once a year when you have to move a large piece of furniture. Just rent a truck for the day. 

If you buy a boat, suddenly you need a place to store it, a trailer to pull it, a truck that can pull the trailer. Suddenly this boat is costing you way more than you thought, and unless you’re an avid boater getting out on the water every other week, you’re probably better off not buying the boat, and giving yourself permission to just rent a boat for a day every other month. 

Don’t pay an extra $75,000 for a three bedroom house, and then pay to furnish and air condition that room if you don’t plan on needing that extra bedroom regularly. Instead, drop a couple hundred dollars throughout the year to help your guests book a room when they visit.

It’s okay to rent things as needed. It’s not a waste of money. 

When you decide to actually buy something it should be with the everyday in mind. Not for the occasional, exceptional, or what ifs. And if a boat is part of your regular life, I’m all for it, but if it’s more of an occasional fun excursion, treat it as such. 

When we purchase with the purpose of serving our everyday life, it tends to make our overall life much more affordable (and hassle free).