• This topic has 22 replies, 20 voices, and was last updated 13 years ago by br.
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  • attitude to money and justifying an expensive purchase
  • Conqueror
    Free Member

    What is your attitude to spending/saving money?

    That object you want but its expensive, do you finally cave in? Have you managed to resist?

    cynic-al
    Free Member

    Depends..I don’t generally crave stuff that is overpriced, offers poor value or that I won’t use. Unmarried too so that makes it simpler.

    Coyote
    Free Member

    You are a long time dead…

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    ton
    Full Member

    i save for everything i need.
    never use credit.
    and if i want the item i buy regardless of the price.

    oh, nice to see you here al.
    how you going you big bully………. 😀

    khani
    Free Member

    If your in the black and the bills are paid and there’s food in the cupboards, why not?
    No pockets in a shroud…

    DrP
    Full Member

    There is a difference between something that’s expensive, and something that costs a lot…

    DrP

    sofatester
    Free Member

    If your in the black and the bills are paid and there’s food in the cupboards

    never use credit

    There is a difference between something that’s expensive, and something that costs a lot

    Wisdom on STW, whatever next!

    Conqueror
    Free Member

    Yeah was just one of my random questions… interesting to see the responses

    I guess my personality is a “worrier” and I scrutinise everything 🙂

    Gary_M
    Free Member

    Money is for spending.

    backhander
    Free Member

    You are a long time dead…

    Too right. My grandfather died recently and it made me realise that when it all ends all you get is a box and some flowers.
    Life is the prize so enjoy it all you can and if that means spending money then do it.

    stratobiker
    Free Member

    If I want it and I have the money I get it.
    If I ain’t got the money I don’t.

    stumpyjon
    Full Member

    Like everything it’s a balence, why wait when you can do something like interest free. Just don’t do it on everything and make sure you can easily afford the repayments, look it as saving for the item after the event with the added incentive you have to pay it back.

    Credit can be a good thing but needs to understood and used wisely. If you can’t manage credit, stick to cash and save up.

    Conqueror
    Free Member

    Was just trying to gauge opinions on this sort of thing. I try to put some money into my ISA and am probably relatively frugal in spending terms.

    In this case I have the money. But its still an expensive purchase.

    In my case I still have to one day get on the housing ladder (so I guess that’s at the back of my mind if I make an expensive purchase). I’m financially sound, just got student loan repayments. But no other debt.

    ChrisB
    Free Member

    If it’s something practical that you actually use, like a bike or jacket, I generally think about how long I will have it and how much use it will get, and then see if it’s good value from that.

    For instance I spent £800 on my Pompino (all second-hand parts), but I use it every day and have done for about a year and a half, so it’s good value. If I find I spend lots on something that doesn’t get used, I’ll sell it. I think it’s ok to spend more on something as long as it gets used.

    Another thing to consider is sometime wanting things that won’t get used for their real purpose or to their full potential. For example I wouldn’t buy a huge expensive TV, because I don’t have a subscription TV service like Sky, a next gen games console, or a Blu Ray player. I bought a £10 Sony Trinitron which is fantastic for watching normal TV and playing Dreamcast.

    ianpinder
    Free Member

    In two months I’ll be buying some carbon wheels. Usually I don’t have an issues with large purchased but even I’m struggling with this one.

    RealMan
    Free Member

    If I want something I’ll buy it. But I never really impulse buy. For example, I saw a really nice bmx in a shop yesterday, and I love it. I know I want it. I really really really want it. And I could probably just afford it. But, I will first research it, and make sure there’s nothing I want more then it, whether its a nicer model, a different bike all together, or a holiday, or even the same bike at a cheaper price. By the time I’ve done all that, I would have fully decided, and rarely regret buying something.

    I think it’s ok to spend more on something as long as it gets used.

    You sure? By that reasoning you could say its ok to buy a solid gold diamond encrusted toilet seat. It will get used every day, doesn’t mean its worth it.

    soobalias
    Free Member

    if you have the money, why are you not paying off your loan and saving a deposit for a house. that expensive toy isnt going to do you any favours when you are trying to get a mortgage

    justifying credit makes me laugh, its ok, its manageable, its low/zero interest

    the thread the other day asking who had zero debt for example, started off with a couple of ‘me’ then, ive only got a small mortgage, then ive got a mortgage, then ive got a mortgage and a credit card and the car in on credit as well as the sofa and the kitchen….. but its ok because at the moment im making the payments

    MrSalmon
    Free Member

    if you have the money, why are you not paying off your loan and saving a deposit for a house. that expensive toy isnt going to do you any favours when you are trying to get a mortgage

    There’s more to life than getting a mortgage and if that ‘expensive toy’ is going to put a smile on your face then why not?

    Of course that’s not justification for just wasting money on every shiny thing that catches your eye but if something that costs a lot is going to give you some long-lasting use/pleasure and you can afford it then I don’t think you need to justify it.

    Varies hugely from person to person though- I don’t really buy clothes, TVs or gadgets and I don’t run a car so if I want to buy an expensive bike that I’ll ride a lot and enjoy owning then so what? OTOH a lot of people I know waste money (from where I’m standing) on all those things.

    Conqueror
    Free Member

    soobalias

    If I was reckless with my money, I probably wouldn’t even start the thread. Instead I over-analyse, scrutinise a lot perhaps.

    No money would have to be borrowed to make the purchase. But yes the dilemma is, it could go towards the student loan or property deposit.

    GJP
    Free Member

    I tend to be very frugal to the point of it being almost ridiculous on the smaller things, like buying a magazine, a cd, or some new socks etc.

    Yet, I will spend several hundreds or thousands of pounds on some expensive new bit of kit that currently takes my fancy (TV, bike, hi-fi etc) without a moment’s thought.

    I don’t drink, smoke, buy fancy clothes etc etc so I think I deserve a few luxuries.

    2wheels1guy
    Free Member

    I used to be bad with money & racked up debt with the want it, buy it attitude.
    Now I’ll save for something but will try to get good stuff, so don’t mind it being expensive, just have to be patient and enjoy it when I get it.

    mooman
    Free Member

    As long as the bills are being paid – I buy what I want.

    You never know whats around the corner. So enjoy life whilst you can.
    There could come a time when your health won `t allow you to do things you enjoy. Then you could be thinking back wishing you had done something when you had the chance ..
    Or you could drop dead tomorrow and somebody else could be spending your savings on a bike of their dreams ..

    I don `t do credit cards etc. but if the money is there .. I buy what I want.

    “Live as if you were to die tomorrow. Learn as if you were to live forever.”

    br
    Free Member

    As I once reminded a (childless) friend when he was moan about just spending £1500 repairing his car, ‘thats what my kids cost me every month’ – MTFU

    My wife just bought me a pair of Hope X2’s for my birthday, she’d have bought a set of Formula R1’s if I’d have asked for them – but in my head I couldn’t really justify twice the price for those 100 grams or so of weight saving – plus I’m buying British.

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