Watch guilt??

Hello everyone! Just joined this awesome platform and I'm very excited to be here! I have to ask, how do you guys calculate how much money to put aside for a watch purchase? Or how do you determine what should be your max when it comes to a watch purchase? My first entry to luxury watches was the tudor black bay black (41mm) and I sold it due to lack of use but I regret that desicion every day lol. At the time of purchase I didn't have a house and only 1 kid, now with house bills, more responsibilities and 3 kids I find it impossible to save a decent amount for a watch and not feel some sort of guilt about it. Do any of you guys deal with this? Thanks in advance!!

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 馃槀

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

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.

Sure, there鈥檚 a constant conflict between what I want and what I can responsibly afford. I usually set a budget and then start compromising. I look for the value options and rationalize off-the-shelf movements as cheaper to maintain, workhorses 鈥 where in-house are overpriced, unproven, expensive, etc. I celebrate diminishing returns over a certain price point and convince myself my values, responsibilities and practical sense prohibit me from spending more than $鈥 on a watch. I settle.

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...

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

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

HotWatchChick69

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...

Image
  • 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'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! 馃ぃ馃ぃ

Mental barrier has been around 1k. It鈥檚 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鈥檚 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鈥檛 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...

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

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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 馃槢

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).

ChronoGuy

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...

Image

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

Image

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

My limit, for now, is no more than $300 for a watch. I usually can achieve this through the gray market like Ashford or Jomashop.

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.