Personal finance bloggers often discuss tips for saving money. These tips are extremely valuable. We as a whole need to learn how to save more of our income. However, there simply are times where you shouldn’t be tight (cheap) with your money. Today I wanted to highlight a few times when you shouldn’t be cheap with your money:

Self-development/ education.

Whenever someone judges me for spending money on a course or when someone brags about dropping a course to save money I just shake my head. I strongly believe in investing in yourself. Whether this be a gym membership, a weekend course, another degree, graduate school, an online course, or any new skill. I’ve paid a couple of hundred dollars to earn a license as a personal trainer. I never worked as one but I have the knowledge to train smart and educate all my friends so that they don’t get hurt in the gym. I’ve taken online courses to help me improve my craft. I’ve taken extra college courses improve my knowledge of a particular field. The bottom line is that you should invest in yourself. Don’t look at it as spending money. Look at how much money you can save/earn in the future from this course or form of self-development.

Eating well.

I train hard, and¬†unfortunately¬†I do eat like a pig at times. I do firmly believe in paying to eat well though. I’m not suggesting that you eat all organic food and drink organic water (does this exist?), but you really shouldn’t skimp on quality food.


You shouldn’t be cheap when it comes to insurance (life, medical, car, home, etc.) because when you do need to use it, you will feel the burn. Insurance can be expensive and it does suck paying it, but you don’t want to be screwed when you need to use it. Ask anyone that has been in an emergency situation lately.

Real estate.

One of my friends is saving money by living in a absolutely horrible part of town. It’s so bad that nobody feels safe when they visit him. His justification is that he’s saving money by paying cheap rent. What’s cheap rent worth if you don’t feel safe at night? I think that you should pay the few extra bucks for rent to sleep better at night and to feel safer in your own home.

Clothes for a special occasion.

When it comes to a special occasion as a friend’s wedding or a new job interview, I believe in paying a little extra to look sharp for the event. You can save money on your everyday clothing, but a special occasions deserves the few extra bucks in my opinion.

A good friend’s birthday.

This is a random addition to the list. I like to make people feel good on their birthday. If you have the resources to do so then I suggest you take care of your closest friends on their special day.

What are some areas where you don’t think people should be tight with their money? Did I miss something on this list? Do you disagree with anything on this list?

(photo credit: Zach Heller)