💳💸💰Bigger Purchases💰💸💳

I never buy a watch with a credit. I save beforehand and pay in full to not add interests to an already expensive purchase.

I'm the opposite. Buy watches with credit, get points, pay it off right away.

I pay for *everything* on x% cash back credit cards. Every week, on Friday, I pay the balances in full. That way I don’t pay a penny in interest and the cash back goes directly into a high yield savings account.

I never use cash or debit anymore. I'll use my credit card to collect cash back or Air Miles points. Then pay the credit card in full before or on the due date. Back in the days a credit card was just a credit card borrowing money, now you get benefits and rewards to use it so why not. As long as you can manage your monies well use bank money to capitalize on your purchases 🤙🏽

NEVER go in debt for a watch. Only purchase one if you have the extra cash. Even Kevin O'Leary says he won't buy a new watch unless he makes a new deal for more income. Every purchase I've ever made in my life has been with cash or my debt card and Im 46. I've never owned a credit card and I used to work for Visa. Use cash/debt card.

This 👏🏼

Hello Fellow,

My short answer: No, don't pay by loan.

These "buy no pay later" shops are very dangerous to fall into a debt trap.

You are basicaly paying with your future money, ...which you will of course miss in future for spending, investings, events etc.

What will you do if you need cash but have to pay rates? Well most people have to take another loan.

Loans should be taken for investments only. Means for Business or Real Estate. That's it. A watch is consumption.

There is no general nominal limit about how much to spend. Because wealth and income are individual and very different.

I would say:

Max. 1 mobthly available income. Means: Income - all expenditures (yes ALL, anual bills divided with 12) - regular investments and savings (pensiob, real estate, funds etc). What you git at the end is what you can/should afford for a consumption good.

If you are way bellow under the watch price, you can save this 1 month available income (divided by twelve and save monthly) every year till you got the needed ammount.

But this calculation is only valid if you got savings.

If not, build up savings first and be happy with sub 200 usd watches.

Great insight! I do have a "fun money" savings for travel, restaurants, etc... I haven't been able to travel in over a year so I'm getting close to having enough! Just gotta stay strong 😅

Well that is impressive! 💰💰💰💰

The last monster I bought (omega po) I paid cash... in hindsight, I should have put it on a cc with good cash back. save the money for the watch, put it on a cc with something like 2% or higher cashback

As with others: Credit Card - pay balance in full - get points.

Any watch I can’t pay in full if outside of my reach as far as I’m concerned.

Always credit card for points and protection. Payoff before interest kicks in. Don't take loans to buy luxury goods.

You can stay strong.... 👍

Yep I’m another credit card person. If something happens I can claim it back and my credit limit is an amount I can pay back at the end of the month.

People working in credit industry knows: stay away from it

Put it on a credit card then pay off the credit card on the next statement. That avoids interest and earns the rewards and money sits in savings as long as possible.

Some great insight everybody! Seems like a pretty fair split! I'm just gonna run the the casino real quick 😜

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Save up have the cash on hand and buy it with the credit card to collect the cash back/points

I use the big purchase as a chance to get some miles.

I’ve used all the methods listed. Paid cash/debit, finance 0% interest, credit card (paid in a month before interest). My last purchase was with Affirm for my Seiko 5 Rowing Blazers. None of my watches were over 5K though and I’d have trouble going over that ceiling. I honestly think I’m done, maybe be one more, GS Spring Drive, Aquaterra, OP are among my choices. New from an AD are all over the 5K mark, though the GS is just above. I’ve indulged myself on occasion but my priority were/are my kids and their education, so I never even entertained my grails (Reverso, 3 hand Calatrava).

I buy every single purchase of my life with a credit card and then pay it off instantly. 3% cash back on 1000 bucks is 30 off the watch instantly

It's not the payment mechanism that matters; it's whether you have interest-free, liquid currency available to cover the purchase without penalties.

Japan sometimes offers discounts for cash / bank transfer. So if that’s on offer. That. Otherwise, credit for them sweet sweet points.

I allow myself one expensive watch on 4 years interest free credit. Whilst I have this watch on credit any others are purchased and paid for in full. Repeat.

Love that! Big purchase and make some payments, sprinkle a couple little #casios in there 😜.

I buy only when I have enough spare money but usually pay by credit card just for convenience. I pay off the full amount when the balance is due and won't keep any unpaid balance.

For more expensive watches, it would take a bit of time to save up enough money before I make the purchase. For me, credit cards are just for convenience but not for financing.

👆this

Credit card for the cash back rewards…than pay the balance in full every billing cycle.

I use my credit card because I like the added security of having the credit card company behind me in case there are ever any problems with the sale or the watch. It is easier to let the credit card company deal with the seller. I always pay the balance of quickly.

Always spend what extra you have . Never dig into bill money or savings