Do You Have a Bucket List? Do You Know What it Will Cost?
If you were to ask someone 10 or 15 years ago if they had a bucket list, they would probably make their face into some contorted, confused look, or say they have all the buckets they need.
However, fast forward to today, and many people have what they term a “bucket list”. Which as we know, is a list of things they want to do, or things they may want to get and have, before they die.
Living in this FOMO or fear of missing out world, coupled with the ease of which we can travel and do things, more and more people are making it their goal to make their bucket lists a reality.
We are living in an “experience economy” or an “experience lifestyle”. If we want it, we have it, if we want to do it, we do it.
Regardless of the costs, we don’t want to die and have missed out.
Just look at all the older festival goers at Glastonbury or other large festivals. They are making up for lost time, and even the festivals know it, as they offer VIP camping places, or glamping for festivals.
People are planning and taking holidays and crises of a lifetime in part for fear of missing out, but also as it is on their bucket list of things to do.
A True Tale
Years ago, and I do mean years ago, about 20 years ago, before the term bucket list had made its way into our psyche and lives, a couple came to us for financial help.
They had planned a “trip of a lifetime” travelling the four corners of the globe, and seeing all the sights and wonders that were there to be seen. How did they finance this trip, through the use of credit, in specific, credit cards.
They took out one personal loan, of about £5,000, but the remaining costs were slapped on credit cards, three (3) cards to be exact.
Having access to this credit and not being aware of how much they were actually spending, as they did not have to reach into their wallets or purse to pull out cash, or see a bank statement showing the deductions, they freely spent and spent.
In the end they did have a trip of a lifetime, which was going to take almost a lifetime to pay off.
They had spent nearly £20,000, and while they had the photos and memories to show for it, they also were in serious financial difficulties as they realised they could not repay the accounts as required. Even the minimum monthly payments were at the max they could afford, in addition it would take a lifetime to pay off.
However, there was many things they could tick off of their bucket list, they had done most of them.
Why share this little tale of bucket list financial woe, because ticking off things on our bucket lists can be costly, actually some can be downright expensive.
Top Bucket List Goals and There Costs
Recently some research was done as to what people’s top 10 goals on their bucket list were, and what they cost. The average cost to complete the bucket list was £428,426, or over 15 years salary for the average person.
Some of those top bucket list items and an estimate of their associated cost were:
1) Getting married £27,161
2) Swim with dolphins £298
3) Visit every continent £3,495
4) Go on safari £3,849
5) Have children £231,843
Some other items in the list were:
* Skydive £249
* See my favourite band live £59.94
* Start my own business £12,601
Why having children is lower on the list than a few other experiences, is anyone’s guess, and seeing your favourite band has to cost most than almost £60!
Tickets to many of the big concert acts now cost £75 to well over £100,and that is just the ticket to get in the door to the arena.
You have the cost of travel, and may of us travel to other cities and countries to see our favourite bands, programmes, t-shirts, accommodation, etc. $59.89 seems pretty cheap to me.
Anyway…..as you can see bucket lists can be expensive.