Value Categories
Guest Blogger, Dana:
At this point in my life, I’m 40 years old and I feel like I’m established in my career. I like to think I’ve progressed, at least a little bit, from the financial crisis that was my entire 20’s (and let’s be honest, most of my 30’s). Here are some examples of things that make me feel like I’m doing okay in the world.
Spending a little more on the “good brands”. I believe Tillamook is the superior brand of all things dairy. I will pay more to buy Tillamook anything. Want to try the best ice cream? Tillamook Old Fashioned Vanilla. They make like four different vanilla flavors but that one is the best one. Want to try the best cream cheese? I’m so sorry Philadelphia, but it’s Tillamook Honey & Jalapeno. I will spend more because the quality is worth it. Take eggs for another example. I know the price of eggs is always a point of contention. Eggs are another area where I willingly spend more. Organic, cage free, grass fed, pasture raised, non gmo and all the acronyms. That’s where I am looking. (Note: Unless it’s for baking then I’ll buy the whatever store brand.) But if I’m making scrambled eggs, I want that quality egg.
I read financial advice that calls this your value categories. What will you spend money on in your life that you feel is worth the money? For me, my main value categories are Broadway, restaurants, and traveling. These are areas of my life that I feel happy to spend my hard earned money because it brings joy. My record for a single Brodaway ticket is roughly just over $400 for tickets to see Denzel Washington and Jake Gyllenhaal in Othello. For me, that purchase was an easy no brainer. Worth it. It’s one of my value categories. But some people may think that’s bizarre behavior. To spend that on a two hour experience? Well, Broadway isn’t one of their value categories. Maybe their value category is having a brand new car every year. You may know someone like this. They upgrade their car every year to have the latest and fanciest. To me, that’s bizarre behavior. I’m happy to drive my 2015 Chevrolet until the wheels fall off.
All this to say, everyone has an area of their life where they are willing to spend a little more on something that makes them happy. But there is one area I just can’t understand spending more... And that is the amount of money I am willing to spend on a movie.
I am excited for this year’s Academy Awards. I’d like to see Hamnet. I read the book and wasn’t a fan, but I’ve heard great things about the movie. I’m also seeing the stage production next month (value category) so it would be nice to see the movie. I didn’t get a chance to see it in theaters. Maybe it’s a Millennial quality, but I rarely go to the movies. I’d rather just stream.
I went to stream Hamnet. I logged into Amazon Prime, for which I already pay a monthly premium. They want $19.99 to rent the movie! I’m sorry what? I won’t even spend that if I drag myself to the theater. Because if I’m going to the theater, it’s at 11:00am when no one else is there, and the matinee price is a cool $13.00. If I rent, I want 90’s Blockbuster prices. $3.99. My ceiling on what I would spend to rent a movie would be $9.99. So $200 to see a Broadway show? No brainer. $20 to rent a movie on my own tv? Are you crazy? I guess you can say streaming movies is not a value category for me. I will wait for the movie to stream for free. I need to save my money for my Broadway tickets anyway.