WHEN DOES IT BECOME RIDICULOUS SPENDING?

I and my colleagues were having a discussion about the cost of renting houses on the Island in Lagos and because I don’t put to mind many things, I have forgotten some of the prices they called.

But the prices sounded ridiculous enough – at least to me – to make me balk.

What?

I couldn’t believe it! How is it financial intelligence to rent a house for that amount when you can buy a house for same amount in other areas.

For those who are making that same amount or more because they live in those areas or for whatever reason that at the end of the day, it is a pounds wise decision, I understand.

But for people who do that because of prestige or any other inane reason, then I sincerely think it is ridiculous.

Of course, my colleagues argued with me.

As expected, they told me it is because I don’t have the money yet; when I do, some things I used to consider ridiculous will no longer seem so.

Basically, they were telling me that if you have the money, no amount will be too much for luxury.

I don’t know why it doesn’t sit well with me.

Maybe, I’m just too sanctimonious for my own good, even though I will like to think that is not the case. I will rather describe myself as logical.

And I honestly believe that a little discomfort at the present in order to enjoy later is very important.

I am not a miser, neither do I believe people should not spend money on themselves when they feel like it.

But I believe if you have to pay such high amount for rent, then you have not gotten to the level where you can live in such a place.

How about you live in a cheaper area, save to get your own house in such an area?

That is my thought.

I understand people who say I am talking like this because I don’t have the money.

I am inclined to agree because really, I don’t have the money yet to prove them right or wrong.

And I have learnt never to say never, as long as we are on this side of eternity.

But I am just wondering, even if you have the money, is there no point where certain financial decisions become ridiculous?

Should you just spend on something just because you have the money?

Is there a moral, sensible, psychological or economic yardstick to measure this or is it solely based on individual differences?

At what point does it become ridiculous spending?