Watch guilt??

I save money from non-income sources such as other watch sales, collectible sales, gift money, etc, so it's money we didn't count on anyway. But the guilt doesn't go away, so yeah sorry I couldn't help 😂

That's ok🤣🤣. I always think "this should go to the kids" even if I didn't even count with that money to begin with 🤣🤣

I like to try and find the best deals, or newer brands. On occasion I will began saving say, $100 or so here and there for a bigger purchase. I bought a high end Seiko that took me some time to save for but it was worth it. However my normal "watch wants" are much cheaper and easier to attain. I also flip my old ones to help fund something new. I hear you, once you have bigger responsibilities, the watch habit sometimes takes a backseat. I will say I am lucky that my wife sees how much I enjoy it and she is supportive. If I want to save for a watch, she has no issue as long as the priorities are handled.

My wife is the same, which is nice! But the internal guilt is a killer, sometimes thinking why have so much money in a watch when that could be used for something else etc.

I overcame that problem by setting an upper limit on spending.

I don't buy watches costing more than $2500 CAD, because that is the limit that I feel comfortable with. Anything over $2500 starts to feel like it would be cutting into my opportunities to do other things. I have a few hobbies, so I don't want one hobby to prevent me from engaging in the other ones.

When I didn't have money...

• I did set a budget for myself for fun, discretionary pleasures - it was $0

• I never bought anything, I never went on vacations, I never spent more than $3 for a meal, I never drank alcohol, I never "went out to the club" or a concert or any of those things that normal human beings seem to do... all well into my 30's

• The only thing I splurged on was higher quality ramen - this, as opposed to Maruchan...

• Otherwise, every dime went into the S&P 500

As a result, now, at nearly 50, I have money, and...

• I pretty much buy whatever I want without ever thinking about the price of that thing

• I have no budget

If I were to buy something discretionary that caused me to worry about my financial situation, I wouldn't buy that thing. Today, the only reason I buy these luxury watches is because they don't affect me whatsoever financially.

No discretionary good or service, to me, is worth putting oneself into financial stress over... except maybe cocaine.

I think it’s a feel thing, what are you comfortable with? Say you set a limit of $5000 for a watch. Well how many of those can you have or is that a yearly budget?

I’m always adjusting what I want to buy next and when I can make that purchase. I think I’m close to a BB late in the spring, but then again, what bills will come up before then?

In the end it’s about what you (and anybody else you share a household with) feel comfortable with.

I'm with you on that one! I don't really stress over a watch nor would I put my family in a stressful financial situation over a watch! I'll just have to be patient and keep saving bit by bit. The reason it will take a while is because im not putting away an irresponsible amount and there are other things one must do before buying a luxury item. When my electrical business takes off and I'm swimming in cash I'll buy a few sweet watches! 🤣🤣

Mental barrier has been around 1k. It’s totally arbitrary, but above that seems too pricey for me to justify basically what is a piece of mechanical jewelry. And now that my 10 watch box is full, it’s going to be one in, one out from now on. I am considering a Rolex Explorer next year to celebrate a milestone so my limit will be put to the test. I also have three cars, somehow mental gymnastics makes that possible whereas I can’t spend a much smaller fraction on a watch. All this to say, everyone is different. From a budget standpoint, we automate investments and savings and are fine to spend the rest.

Watch budget...easy...it has to be something that does not cause you to incur debt, disappoint your family, or prevent you from paying your bills and supporting the people you love.

After that, it's just how much discretionary income you want to put towards your watch collecting hobby versus some other hobby.

One caveat...if you believe you need a nice watch for success in business, then that is a different matter. It should be considered the same way you would consider purchasing well made suits, shirts, shoes, and ties. People will judge you by how you dress and for some professions that is really important.

So, if the watch you wear is not important for your work...then this is perfectly fine...

If it is important for how you look at work, then this may be the better look...

The watch is a luxury item. One day soon, sooner than you think you will be able to get a nice watch you want. Until then, if you have a guilt over buying something more expensive, then it is not the right choice. It isn't that you can't have nice things that you want, it is just not the time. Your heart is in the right place, there are other things more important than a watch. The problem with saving is there is always something more worth saving for... Family, life and time... they are all expensive to have and worth having.

I sell my kidneys in the black market? Shows scars from half a dozen kidney transfers 😛

Seriously though, I save whatever non-essential monies that came into my way and when I have enough (and for some reason nobody got wind of me having a windfall) I splurge with what I want to buy/go for holidays, that sort of thing.

Mind you, there'll always be someone asking for your money (I should know, I gave my mother $1.6k of my watch splurge money for her to buy some blings. Relatives smell money, I swear).

Wait, I'm confused. The Seiko is what you wear If it's important how you look! Right?

im no expert in such matter, but i put everything else before watches (daily needs, money for the business, etc). as for the budget for now is under 1000$ is okay for me, but i keep my collection small (6 pieces, there are other which is gift from friends and gf). and as far as i know from this hobby there must be a affordable alternative with decent specs and built quality and im pretty good at looking for alternative for now 😂😂

Totally hear you my friend!

I’m Getting destroyed by mortgage rates now and now starting to think my daughter might do better in private school? - which costs about 2 or 3 grail watches a year 🤪

Current plan is : Good months I set aside a little bit, and just save up over longer periods.

That Tudor was probably best that it went. If it wasn’t getting wrist time that’s a signal

Another thought: Part of enjoying watches is just chatting and thinking about. Don’t need to own and can’t own everything anyway

There are wants and needs and unfortunately we aren’t all millionaires. You just have to prioritise.

Don’t feel bad for missing out on a watch to provide smiles for your family!

I only had one watch worth as much as $80cdn ($50usd) until after my kids were all grown up and moved out. Now that I'm approaching retirement but still working, I can spend on things I want rather than need.

Yes! It makes sense and pretty much everytime when I buy I intend to keep them forever. I will have to give it more thought to the impulse purchases since I like a new watch every other day although I know that doesn't mean I should buy a watch every other day!

I guess everybody's situation is unique and different. For me, I always hunt for watches that are under-valued or used pieces below retail prices. 🙂 So I won't feel the full pinch as someone already took the depreciation "hit" for me. As such, I often buy in low and afterwards hold and sell it off for higher prices. Then slowly, from those extra profits when I sold the watches (while still enjoying wearing them in the meantime), I then look to upgrade to watches I want. 🙂 I did this with an Omega Speedie Date which I got for way below market value then, and looking to trade it in now at market value for a Rolex RE2 Polar. (Still waiting for the dealer to inform me when they got 1!) That being said, I own a property, married but no kids yet. So I reckon I might be in similar situation as yourself when I have a kid myself. 🤣 I sometimes think "Why should I spend so much on a timepiece when the main objective is to tell time?!" But then again...if I can get it below market value, then still a win-win for me I guess. 😄 I know...such irony..Don't judge me! haha!

I don't have a watch budget because I'm naturally cheap. Watches are truly a luxury, and if I had the feeling that I needed to budget for watches, it would be a clear sign that something is wrong. This means that I either cannot afford the watches and/or that watches are too high of a priority, especially if somebody has a family to support.

Honestly, I have no idea! I feel like I make a decent living, have no debt but the house and all obligations are taken care of. But sometimes I ask myself "should I put this few grand into something more productive like renovating the bathrooms or something else"

I'm just a budgeter I guess! I have budgets and like to plan for expenses especially the "wants" since I dont have credict cards or amything like that i pike to plan ahead!

Oh, I also have budgets, otherwise I couldn't track my spending. However, I don't think that watches necessarily deserve a budget, because if you have a budget, you are likely to fund something with that budget.

And there are two problems with that from my perspective:

a) You may buy something you don't truly want, just because you have a budget for it that month.

b) It elevates watches above the pure "discretionary" spending that I'm trying to minimize. (Unexpected expenses, medical bills, etc.)

What I'm inarticulately trying to say is: I would really have to have everything covered: cars, kids, tuition, housing, vacations and retirement, before watches deserve a line item in my budget.

This makes so much sense! I never thought of it that way! My train of thought was, fund a category until I have enough there or if a deal comes up just snatch it! Wrong way if thinking im guessing!

Whether is is right or wrong really depends on you. But there is definitely a certain form of temptation that comes into play when having the money set aside already, and then trying to find a watch, when in all reality the money is simply part of your net worth, no matter how you label it.

Oh - one last caveat - be fine with getting used watches! Almost of of mine are second hand and it doesn’t make me like them any less.

If you buy prudently you also tend to be able to sell a watch for close to price you purchased it for.

This means always being able to recover most, or sometimes all, the money you invested. Not much else of our discretionary spending has this big advantage!

I can afford watches, but also feel bad about spending the money. There is always more important things I could spend it one or save it for. But I guess that is why I never spend stupid money on watches at least 😊 So I guess the guilt has a function

I do not have quite the same family situation as you @J.Rijo but I do have a partner, pets, vehicles, household ect that I am 85% responsible for financially speaking. Out of every check I make from work I set aside a certain % of it as my "sanity" money and that is money that I am going to spend on myself. (it is a small percentage). My partner does the same. This money I can use for whatever I want and if what I want is more than that money is on any given week then I can save that money up for something I want that is more expensive (such as a watch). I also use said money for when I wish to purchase say a birthday or christmas gift from myself to myself, something that I may want but is a bit out of the price ranges of family and friends. I do not feel guilty about saving/keeping this money as its a small percentage of the overall funds that support the family and it takes time to save it up to get anything near expensive. (think 5-10%). I think it is healthy for a person to be rewarded for their hard work which is why both me and my Lady both keep this bit of "personal money" out of our checks for our own use. (Now to be clear its basically in the monthly budget along with money that goes into savings, bills, food, vehicle expenses ect ect). Hope this helps friend 😎👍

I’d cut yourself a little slack, it’s your hobby. Some guys restore cars, some guys golf, some woodwork, some collect PEZ dispensers lol… and hobbies have associated costs. As long as you’re not putting your family in a bad place financially or being irresponsible, I don’t think you should feel guilty. Not to mention, watches are a heck of a lot easier to liquidate than PEZ dispensers should you need the cash for the household.

Also, having a threshold for purchases helps me, and the “hustle” of moving around pieces can actually be kind of fun. For smaller acquisitions (under $300), I’ll set aside extra cash for a few weeks or do a side job. If I want something over $300, I generally flip one or more other watches.

Beyond that it’s gotta be sorted out between you and your spouse. For example: I want to buy a $2,500 - $3k grail for my 35th birthday in a couple years, so I’ve been putting away $25 each week towards that and skipping getting lunch out at work. My wife is all for it, and actually excited for me. ❤

I think it’s all about the balance between what you want, need, and can actually afford. Best of luck 🍻

This is literally what I'm doing! Lol if I don't spend the 25 a week I give myself during work I throw it in the "watch fund"! So far it's working since I don't feel it and that money would've been spent on coffee or lunch anyways