How do you justify expensive purchases to yourself?
I have been pursuing some aspirational products like Apple Watch SE, Airpods Pro 2, PS5 etc. since a long time. I go to the Amazon page and add it to cart but then my conscience questions me as to is it worth spending so much on it? I earn decently and live in BLR but still I dont fully understand to give my mind a valid reason for purchasing a 40k Watch that shows time, some metrics and some automation. Also 20k for listening music, 50k for playing games. It feels as if is it sane to spend much on these personal material stuff? How do you folks look at this while making purchases?
For some ps5 is not about price, it's about their dream to buy since college days (many ppl I know bought it) and same goes for other stuff as well.
KewlDude
Stealth
9 months ago
But 50k for playing games. How do you justify it?
U don't need justification to fulfill ur dream, everything nowadays has become expensive, so it's hard to get anything good at less price
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What the purpose of working so hard, If u think too much to buy what u want
KewlDude
Stealth
9 months ago
I am a software engineer just like other people in BLR. In current times almost everyone is working hard. Just the thing is software engineers get paid a lot. The question is not about working hard, the question is if we are wasting a lot of money on certain material stuff which are overvalued a lot.
KewlDude
Stealth
9 months ago
There are brands selling tshirts and shoes at fucking hilarious prices. And people are buying them. The prices are 5-10x the same thing at a decent quality. Its just that they printed a fucking ugly art on it and now boom it's a hyped thing. Where is our financial consciousness going if we don't reason them? Or am I being too stingy?
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Brutallyhonest
Stealth
9 months ago
You live only once. Just go ahead and buy that BMW you wanted to buy one day
KewlDude
Stealth
9 months ago
Bro how did you know I have a dream of buying a BMW. Had that dream since I was 8 years old and came across a Black shining one parked beside me with that beautiful blue-white logo. But still taking into consideration I can buy it on a loan, would buying it by taking YOLO into consideration be a safe bet? I don't think so.
Brutallyhonest
Stealth
9 months ago
It was a wild guess on you. I applied myself in your POV, most of the Indian dream to have BMW one day, so it’s a was easy guess. Don’t think much. Go for it.
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I have a bunch of gadgets. Keep cycling between subscriptions to Medium, Audible, Kindle etc.
.
Yet i call myself an intelligent spender. Because if there's anything I feel that can up my productivity or happiness, I don't mind splurging cash on it.
.
For eg I own a pair of decent wireless headsets for when I'm riding scooty, a pair of expensive over the ear noise cancellation headphones (Sony WF-1000XM4) for distraction free work. And AirPods Pro (1st Gen) for listening to anything when I'm on bed. Put together that costs over 40k, but I've never regretted. I use each one of them on a daily basis and they make my life simpler and happy.
.
I also have an iPad 9th Gen which I only bought and use like a Kindle e reader. Then I have 2 JBL speakers, again used pretty much everyday during WFH.
.
But I never spend a dime on anything to brag. I make informed purchasing decisions with deliberation.
.
Hence I never feel guilty and have to seldom justify myself
I'm not even going into 2 ultra wide monitors, Fitbit tracker, an extra scooty in another city that I frequently visit, 55" 4K TV .. (the list goes on)
.
All worth it till owning them has a positive effect on my life
..
..
Just clarifying not bragging here, but making my point that essential or even luxurious purchases shouldn't make you question your character. And if something does then you probably shouldn't buy it
KewlDude
Stealth
9 months ago
Understood. Basically if something adds value to your life. Price shouldn't be a blocker for buying it.
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If you seek justification from random internet strangers to spend your own money on things that you desire.
Something is completely off.
Just try to experience the utility/joy of that thing and buy, no need to overthink it.
In gadgets there's a point of diminishing returns of marginal gains, and after that it's just the feel good and vanity factor.
For example now I've got 25k earphones they're marginally better than 10k ones which I previously had, those were significantly better than 2k ones used during college which were 100x better than 200₹ one during coaching era.
Same thing holds true for cars also, in my experience having driven kwid okay meh << Swift nice <<< Vento really good << 3er best yet still not night and day difference.
KewlDude
Stealth
9 months ago
@tbk as mentioned in the post, I am not asking for justification I am just asking for their perspective or how they think about spending on expensive stuff which in a way are overpriced.
I understand its easy to wear the hat of not question about any product that we buy and just follow the heart. But....that won't be possible for long right?
I don't understand the point "perspective or how people think" before buying stuff.
It's generally not a scientific process, people like or desire stuff they buy that, If one finds that it's overpriced they don't buy, there's no guilt in doing this or that.
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Tathays
Stealth
9 months ago
I have been mostly frugal my life even after earning well. Phone etc i bought i.e less than 1 week salary. Recently bought a drone also in same amount. Thought for days before buying it. I think this is due to my bania household upbringing.
KewlDude
Stealth
9 months ago
@Tathays yes, the middle class household upbringing for me. Earning money and saving them and not spending it on expensive material stuff even if you like them is ingrained in our habits. And its not that I complain about that. It was done when it was necessary.
However, now that I am part of a profession that pays comparatively well I find it difficult to part ways from that thought process. That's where the dilemma lies.
I feel you ....
I can't help but before buying a 3k sketcher shoe... My rational mind reminds me of the actual value of 3k instilled in my mind while growing up...
Think of all you could buy in 3k... That vs just a shoe...
That's how it becomes a tough decision
BroCodeComeOn
Stealth
9 months ago
I have recently build a Rig. RTX 3080 (Not 40 Series as I got 3080 at a steal) , Ryzen 7 7700X, 2 TB NVMe Gen 4, 32GB DDR5 RAM, AIO, ARGB and othe4 stuff.
Costed me a good 1.25 Lakhs Including SSD and UPS (Just to protect my rig in case of sudden spike or power outage)
Already had monitor. Also bought a 10K Mouse. Couple of games so in total 1.5 Lakhs.
I have no regret. Even though I don't stream or do video editing. My mom surprisingly didn't scolded me just said that - Itne paise computer pe kaun kharch karta hai. Which i think is valid for her too say.
Running behind material possession is not good
But, Restricting yourself so you become miserable is even worse.
Live your life. Don't overspend, bu don't restrict yourself as well
KewlDude
Stealth
9 months ago
@BroCodeComeOn "Live your life. Don't overspend, but don't restrict yourself as well"
Got it. Need to find a sweet spot in between.
Bhai ghumo peeyo kharcha kro, SIP krte krte mar jaoge have a balance. Spend and save both.
KewlDude
Stealth
9 months ago
It's nice to see "ghoomo phiro aish karo" change to "ghoomo piyo aish karo"😂
Piyo mt bhai sorry for emphasising on it. Bolne ka mtlb tha memories banao bindaas
TheOatmeal
Stealth
9 months ago
“You have needs -- satisfy them. You have as much right as the rich and the mighty. Don't hesitate to satisfy your needs; indeed, expand your needs and demand more."
KewlDude
Stealth
9 months ago
There's a difference between needs and the wants.
KewlDude
Stealth
9 months ago
Matlab jo bhi kharido bina soche kharido?
If you are thinking so much, it goes on to say that it’s something that you used to think will give you pleasure/satisfaction but that is not true anymore.
I have been thinking of buying PS5 but never do because I know it’s more of an impulse and feeling of “haan mere
paas bhi hai”. I’ll spend some time playing few games and then I’ll get bored and move on to the next thing.
I’d rather spend this money on experiences and things I love doing now rather than things I used to like.
BorrowerBadshah
Stealth
9 months ago
Think of it as cost per use. If you are going to play PS5 daily for an hour for next 5 years, you are paying 30 rs per game play. Now compare to what you earn daily. If it less than 1% and gives you immense joy, why not do it :)
You can do 10 such things parallely and spend 10% of your earnings in keeping yourself super happy. Caveat is to identify what will keep you happy as well as how flexible you would be to let it go, if your earnings drop because of some reason
In the same boat as you @KewlDude. Ever since I can remember, I always wanted to buy and an expensive watch for myself. I could never gather the courage to spend such a huge amount on myself. I have happily spent huge amount of money as gifts to my family, but feel so guilty about spending it on myself.
When I started working, I said to myself that I will buy something good for myself when I earn xxx amount of money. Now that I am earning it, I can't justify spending it. Many years ago, a relative of mine sought Rs. 1 lac support from my family because it would have helped them fix leaking roof in the house and make it liveable during monsoon. It was a family of 7-8 members.
The dichotomy is so depressing. Few thousands that I can spend without thinking twice can mean so much to someone out there.
KewlDude
Stealth
9 months ago
Exactly. I go through the same thought process.
Unless you spend on your dreams you feel void.
I go by this thumb rule. If I could make the money of product in 2 - 4 months I will buy it.
If appreciating assets, this goes by 2 years, as i will be paying by EMI
Few of my non guilty purchases are focal utopia headphone, Audi Q3 etc.
P.S: I don’t drink, smoke nor party.
KewlDude
Stealth
9 months ago
@Master Damn..I see there are veterans here in Gvine. The thumb rule seems interesting but by making the money in 2-4 months, you mean earning that amount from your primary job/business or as a seconday income source (extra profit in case of business)?
Celsius_Fahrenheit
Stealth
9 months ago
Bro, I'm exactly like you in this.
A lot of folks are saying YOLO and what's the need to earn if you can't spend. What they don't realize is that I (and most likely you too) have a very very humble background.
When I was a child, I used to get excited and over the moon only when I used to get a ₹10 kurkure. You can substitute a ₹20 coke and chat as well. My happiness knew no boundaries when I was surrounded by these things.
Brought up in a Tier 2 city, I've always found happiness in small things. My parents have instilled deep down in me the value of money. I'm definitely sure this is the case with you as well, because our thought process sounds similar.
Also, I've never had any cravings for luxurious things either. Idk but it always sounded like a waste. I'm not affected by peer-pressure either which helps a lot too to limit my spending.
My reasoning of not to splurge was if I can be ecstatic with just paani-puri, what's the need to splurge on a pizza. Also, the amount I'd spend over a pizza would make me more nervous than enjoying it lol.
It's not like I grew poor during my childhood (we weren't rich either), but unnecessary spending was always always avoided.
And that's what I've stuck too while growing up as well. It's just how I think.
Do I regret it? Not at all. Very rarely, if at all, I do feel an instinct to purchase a PS 5 too, judt like you, but my reasoning and logic makes it not worth it for me in the long term.
I know if I purchase it will only be like - chaar din ki chaandni phir andheri raat, which means your excitement will go down with time after you make that purchase.
And I don't want to feel guilty of making a waste purchase which won't last more than a year. I mean I might play PS 5 after an year too, but the excitement with which I bought it would definitely die down making me feel guilty.
I would suggest you not to look for external validation of folks same age as yours as to how to spend 'your money.
Celsius_Fahrenheit
Stealth
9 months ago
Everyone's needs are different. Somebody would be taking a foreign vacation every year. They might suggest you that.
But does it apply to your case? Would u be really happy? Only you know.
Btw, I enjoy my life really well.
Now I do spend over a pizza. Not because somebody told me to do it, just that now it became a 'want'. Wasn't the case earlier.
But I do spend my money diligently. Right now I'm travelling with my parents in Junnar. Will definitely cost more than a Pizza but definitely something I won't get nervous about and could actually enjoy.
That's exactly what you need to do.
Khalnayak
Stealth
9 months ago
Buying apple products comes under the worst financial decisions
KewlDude
Stealth
9 months ago
@Khalnayak I negate. the products are brilliant. the pricing sometimes can be said to be fucked up.
I generally attach the decision to buy something that is not a basic need for a quantifiable outcome that I am working towards.
This way I gamify my life and also improve discipline via the reward and delayed gratification.
PS: I copied this idea from my father.
KewlDude
Stealth
9 months ago
I use this sometimes as well
Zincovit07
Stealth
9 months ago
Tbh these are not aspirational products, those can iPhone pro, watch ultra etc
KewlDude
Stealth
9 months ago
Well to each their own. while i might be aspiring for an Apple watch, Elon Musk might be aspiring for a trip to Mars.
Zincovit07
Stealth
9 months ago
That answers your question mate… you decide your own lifestyle.
Lazyguy
Stealth
9 months ago
I'm exactly in the same situation. It was a childhood dream to buy a PS5 but I have the same feeling, Is it worth it to spend 50k to play games. I no longer have that kind of excitement anymore. Guess I need a big reason to buy it. The release of GTA 6 in 2025 might do it
KewlDude
Stealth
9 months ago
Us bro
human
Stealth
9 months ago
I look for quality and ROI.
Any kind of smartwatch feels very low ROI to me. I have my phone in my hands half of the time anyway.
Airpods are best in the industry audio and ANC experience. So it's worth a buy if I can afford them. If not, I'll look for the best quality I can afford in my budget.
Xbox, I know that I won't have much time to play with it, but I always wanted to own one. So that 1 hour a week I'm gonna spend on it would be worth it. Emotional ROI.
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