Often we will hear about the costs associated with dining out on a regular basis whether for lunch or for dinner. And as I pointed out in It All Matters, there is a degree of truth to this. One of the costs that can add up as well is the cost of our entertainment.
I have had several clients point out to me in regards to sporting events, it is not just the cost of the sporting event itself, which for season tickets, can be fairly pricy in and of themselves, it is also the costs of getting food/drink at the events, the parking, the sports-related items etc. that can often come into play and double or triple the cost of the event.
How much are you spending on your entertainment? Is it derailing your chances to achieve the things in life you truly want to achieve? If you are spending 10% or more of your income on entertainment and you are not wealthy, you may want to rethink your priorities.
What is it about the event that your entertainment that you truly enjoy? In the case of a sporting event, is it the crowd, the game itself, or something else? Could you receive a similar level of enjoyment at a different level? For example, in the case of sports, if you are interested in experiencing a live game itself, there are many good high school teams that can be fun to watch at a fraction of the cost. Similar things could be said of other events whether related to the performing arts, etc.
Another question that comes to mind is frequency. If one experiences the same thing again and again, it loses its value. Such is the effect of the law of diminishing returns: the more you experience something, the less satisfying it tends to be.
Would you be better off if you shared the cost of season tickets with some people so you each got to experience a portion of the event?
In a future post, I will include a list of low cost items for entertainment that both I and some of my clients I have enjoyed.
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