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Relaxing at your Gold Coast unit

How you spend your money is highly personal as long as we are discussing “discretionary spending”, which is that amount left after the so-called necessities of life – food, shelter, safety – are paid for.

Early this year I wrote about opportunity cost but there is also a non- financial opportunity cost associated with holiday house ownership.

If you feel obliged to holiday on the Gold Coast because you own a unit there you give up the opportunity of going to Honolulu, South America or Europe instead.

You will also feel obliged to taker saw and hammer with you, or a paintbrush to do some minor maintenance when you could instead be lolling on the beach.

A unit that does not require plants to be watered or a lawn to be mowed can be a haven that is there for you to use or not use at your discretion, but if you feel obliged to use it because it is there, then some of your discretionary spending of your time is gone forever.