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What is the one expensive thing you believe absolutely worth spending on?

Software Engineer

What is the one expensive thing you believe absolutely worth spending on?- Grapevine

I purchased a Calvin Klein set for a vacation in Bali. It was ~15k for the set and I must say that I enjoyed being in them. So did someone special. 🤭

What about other people here. What is the most expensive thing you purchased?

What is the most expensive article of clothing you bought for yourself?

Product Manager

Going first, for me it is my Apple Watch Ultra (with Blue Ocean Band). I paid Rs. 1.05 Lacs for it but still the best investment I have ever made

What is the most expensive thing you own?

Business Development Manager

I started my career as a humble analyst in a tech company, worked my way into finance and venture capital and eventually am heading to a top tier bschool in USA, where I will be paying what it costs to go to an ISB/IIM yearly.

We have the Warikoos, and countless others breaking down personal finance and urging people to save. I have mostly done the opposite - i.e., spend liberally but not be profligate. Here’s my view. 

We are a poor country. If you find yourself in a place with the resources to spend more than the average person you’ve grown up around, please do! Spend on what makes you happy, pushes you, drives you, and allows you to step change your life. Security can be achieved with a good insurance plan and decent emergency funds. Beyond that, please spend on experiences that make you a better person, give you access to better people and enrich your life. Eventually time is the most finite commodity we’ll have. We have 1000s of podcasts on savings, mutual funds, ETFs etc. Does anyone talk about spending effectively to enrich your experience? No. 

I am pointing to a larger theme of a scarcity mindset that indians have, because we have grown up in a low-middle income country. It’s where we come from, but that doesn’t mean we cannot experience abundance. Life is short, don’t listen to people making money off you watching their personal finance videos.

Hot take on savings

Venture Capital

what's that one expensive gadget you bought, which was worth it

Consultant

Senior Software Engineer

Hi, recently we had a baby girl 👶 and are ovet the moon and enjoying our early parenthood. 

I have noticed that we have been *a lot* of money on things (toys, dresses, accessories etc..) ~1lakh till now.. 20k for clothes, other accessories ~70k (crib, car seat, stroller, dining chair, baby carrier, breast pumps etc etc..) during these initial days.. 

All products in baby category are super __expensive__ (talk about muslin clothes) and kids quickly outgrow them, making them irrelevant (our daughter is just 20days old and whatever the rompers we got for newborn is already to tight for her). 

How do you convince your wife that something is too expensive and not worth to buy? Whenever I have given hints on this, she mentions that you spend money on this and that and we shouldn't "kanjoos" when it comes to baby👶.. My wife is not ready to buy second hand items or use items from relatives (at least things like accessories not clothes). 

I can easily afford all this (>1cr CTC), but when do I start things about spending excessively?

How much on money speny on baby is too much

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?

How do you justify expensive purchases to yourself?

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.

Digital Marketer

Software Developer

Did you guys ever spend a lot of money on something or did something very extravagant which does not make any financial sense but you do not regret it?

Big money

Analyst

Welcome to News Discussion's Private Community

Spending over a Lakh worth for a phone?

If you can't buy it twice, you can't afford it.  
  
 Applies to every significant purchase.

Sales Manager

What is the strongest signal of wealth in your opinion

Welcome to Software Engineers's Private Community

As engineers, I now realise a good chair and a table is a must to protect our long term health. I mostly work from home and sit in front of my computer 10+ hours per day with breaks in between. These days I am getting backache as my current chair is falling apart. I wanted to know your opinions on buying an expensive chair and are they actually worth it. I shortlisted a few below:

1. Herman Miller - Aeron (~Rs.1.2L)
2. Steelcase - Leap or Gesture (~Rs.1L+)
3. Haworth - Fern (Rs.~70k)

I wanted to know if anyone has bought these chairs (or have any other suggestions), have any long term experience with it, and are they actually worth the cost. TIA!

Which chair do you use?

Me and my wife are 30 years old software engineer with no kids. Draw 7 lac a month please some yearly bonus. We invest 2 lac a month combined into equity market through mutual funds. 

Expenses: 1.5 lac a month including everything, lives in Bangalore in good society, owns a car, don't thing much before spending. 

Still after everything left with 3 lakhs every month in bank account. Not sure how to use that. We both don't have any fancy "shauk" where we can spend and hence don't have an urge to earn more. 

Any suggestions???

Post tax 7 lac a month. Double income no kids, but not sure what do with all the money.

Hey - we are also similar to you. Would strongly suggest finding something you’re passionate about. 
  
 For us (primarily me) - got a dog, took a 6 month sabbatical, travelled to 30+ countries in this time, left job to pursue startup idea, spend time with parents, learn language, improve fitness, learnt some coding, etc 
  
 It’s a pretty good position to be in - just explore I’d say

Strategy & Operations

I come from a poor background, but somehow I worked extremely hard and now I earn decently well (above 60 LPA cash). 

My problem is- 
I don’t mind spending on others. In fact I don’t even think twice before taking my card out and buying things for family or friends. I have also lent money to multiple people when they are in need of help (total close to about 2-3 lakhs). But it doesn’t bother me even a bit. I don’t even care about whether I’ll get it back or not. 

But, when it comes to me, I find myself struggling so much and questioning my decision to buy things even as cheap as INR 200-300. And most of the times I find myself going extra miles to save a few bucks. In fact, I also recently downgraded from a bigger to smaller apartment, because I have been doing so much maths around saving 7-8K a month. 

Maybe there is some part of me that feels that I don’t deserve any of this. 

Anyone has any idea how to fix this?

I find it so hard to spend on myself

Product Owner

I’ve noticed different people have different ways to approach their financial planning. 
Hoping to learn from each other and perhaps help others who read as well.

What is one personal finance habit that has changed your life?

If you 'want' to buy something, wait day or two (I wait a week) to know if my heart is still stuck at it. Generally (mostly) it is fleeting craving and I end up not buying.  
  
 This has kept my expenses very minimum

What is the one expensive thing you believe absolutely worth spending on?

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