Maybe you weren’t born with a silver spoon in your mouth. Your parents might not have been able to give you all the advantages of the kids who lived on the other side of the tracks. That’s okay. Because in this age, it is possible to move up the economic and social ladder to a higher rung that is more to your liking. Don’t mistake possible for easy. Even under the best circumstances, it is difficult to become upwardly mobile. If you are having that moment, enjoy it while it lasts.
While you are on your way up, there are a few things you might not have been able to enjoy or appreciate when you were at the bottom of the ladder. Then, you had to make hard choices such as whether to pay rent or buy groceries. There are many people that can’t do both while living in the wealthiest nation in the world.
If you know what that is like, you might be hesitant to spend money as if it were of no consequence. It is hard for people who have clawed their way up to enjoy the fruits of their labor because the time when they didn’t have such a windfall is still fresh in their memory. But if you are really do live a little, here are a few of the finer things that you can enjoy without draining the savings account:
Refined Food and Spirits
Have you ever had caviar or truffles? You hear people talking about them all the time. You see them on TV being used by all the celebrity chefs. But you probably haven’t been to too many dinner parties where they are readily available to guests who made less than 6-figures.
Perhaps you can ease into that more refined palate with something like a ready-to-drink bourbon sour delivered to your door for less than the price of a pizza. Once you try that, you might find other wines and spirits you like that you have never tried before. It is a short step from trying different liquors to mixing your own drinks. At that point, anything is possible. You will soon be pronouncing foie gras correctly and ordering it at that French restaurant that required a month of waiting before you could get a reservation. Refining your palate takes a lot of trial and error. Now that you have the money, it is worth doing.
Accessories and Jewelry
Jewelry and fashion accessories don’t have to be flashy or over-the-top. Take a watch, for example. When you think of a luxurious watch, do you automatically picture gold and diamond-encrusted timepieces? Look at these used IWC watches and think again; it is possible to own luxurious fashion accessories that are elegant yet understated. The secret is to buy high-quality watches, bracelets, neck-pieces, and earrings that will be recognized by those who know and overlooked by those who don’t know.
Travel
If you didn’t grow up with affluence, you have possibly never needed a passport. You would be forgiven if you didn’t know what a passport was. The moment you start to take travel seriously, you are going to learn all about passports. That is because you cannot move about the world without one.
Before heading off to parts unknown, you might want to get your feet wet at Disney World. It is never inexpensive. But you can find discounts and coupons that make it feasible. Some people love it so much that they take their family to one of the big theme parks every year like clockwork. As you move up the income ladder, think about planning a travel vacation every year. Travel is one of the most life-expanding luxuries in which you can engage. There is almost no downside to it. Getting out there and seeing what the world has to offer is one of the best motivations for doing well in life.
Philanthropy
One of the best things you can do with money is giving it away to people who need it more than you do. Perhaps, one day, you will be among your country’s top givers. Many CEOs have pledged to give away their fortunes before they die. You don’t have to give everything away before your gift is meaningful and even life-changing for those who directly benefit. There is also something personally satisfying about helping others up the same ladder you climbed rather than pulling it up after you have reached the top.
There are some experiences that you can only enjoy after achieving a certain amount of financial freedom. If you are new to that moment, take the opportunity to refine your palate, do some travel, and give back to others who need the help as much as you once did.