What are some tips for saving money to buy a watch?

Good question. I will say, after you pay bills and all your credit cards, then check how much money you have left and set a small percentage aside for a watch that you may want to purchase. That's a good strategy

You will find, with rare exception, most folks do this over a long period of time. Generally as one ages, they tend to earn more, and passive income becomes a greater part earnings. Others may get regular significant bonuses that more than cover a $10K watch. At 20, I could not tell you what wealth was, but a couple decades later, I am very grateful I started saving and investing early, as in the moment I got my first adult job. You can do it, but do not feel you need to do so tomorrow, or even in the next ten years. Focus on savings, home, family, and eventually you will have extra.

I just came here to say, if that was my piggy bank growing up, I'd have nightmares.

I put money away in a slush fund with no intent, goal or identified item to buy.

A big deal is to stay the course and save more than you plan to or are comfortable spending on a watch. This way you won’t feel as bad if your goal is $2,500 and you spend every bit of your $2,500 savings or slush fund on that watch, save $4,500 instead, blow that same $2,500 and you still have $2,000 left and you feel good about it. That’s a mental win.

Lastly don’t buy interim or little things along the way that add up or put you further away from your savings for a new watch. Even if it seems monumental and it takes 3 years to save 10K, I can assure you that it will be harder and longer if you buy 2-3 $1,000 watches or things along the way.

As others have said, you are young, it will come, but it is best now, to use time to compound your wealth. The sooner those things and necessities are met, the more you can allocate to savings/discretionary income spending on things like watches.

Not sure what your financial situation is, but as a 20 year old, you have a lot of time ahead of you, where your financial situation, more than likely, will increase over time. My suggestion is to limit yourself to a specific yearly budget that won't impact you in any other way. Maybe that is only $100 a year, maybe it's $1000. Whatever it may be, set you sights on that goal and plan your purchases accordingly. And as your income rises over time, you can adjust that "watch" budget and the watches you want to purchase accordingly. Cheers.

You don't want to spend too much money early on, especially if you don't have much. The best way to save money for watches is stop buying and start enjoying what you have.

Saving for "bigger pieces" is so much easier if you have a passive income stream. But you won't have that unless you start putting money away sooner rather than later. To be clear I am not talking about crazy stuff like watches as investments, that's insane and irresponsible in my opinion. My money is mostly in low cost index funds tracking the S&P500 or one of its friends. Even if you don't put away much, give it 10y to 15y and your question regarding how to save money might start to answer itself 😄

I'm retired and on a small pension. Canada Revenue is my savings plan.

This year's refund went for some great niche perfumes.🌹😅 Maybe an Explorer homage! A Seiko5 SNX79?

Some solid advice in here!!!

One thing I do is that all change and $1 bills that hit my hands go into a savings fund. You’d be amazed at how fast that builds up. Probably close to $100 a month. Other than that I have no savings plan other than money being set into savings every check

A fellow frag head? What did you get? I am currently reducing my fragrance collection to buy more watches 🙃.

You guys save money?

Is impulse buying a method or a strategy? Good advice above, I wish I had the discipline.

Exactly

Set a budget and "feed it". Once the budget it full, you can buy whatever the budget can afford

I am guilty of not being able to save for the ones I really want. I am thinking of selling as many as possible, and hopefully I can get Chrono 24 to put it in a fund for me, because I am incapable of saving.

Her advice is to forget watches buy a home first

It’s just like dieting. You have to train to restrict yourself not because you can’t afford it but because you don’t need it.

I’m just here to say that is the greatest piggy bank I have ever seen

Per Jamie Dimon’s advice, I make my coffee at home and skip the avocado toast.

good advice brother

Can you please elaborate more on this!?

Hey.. really good advice brother thankq

man i find it real cute

Definitely.... isn't it cute💀

When you were young, don't go too fast or you'll miss a lot of things. Having a constructive goal is fine, but don't miss out since you cannot buy back the time; the watch, for the foreseeing future should be there.

And maybe a bit of advice that I give to my students/aspiring writers: Don't pay too much attention to other people. Do what brings you joy and makes sense for you now. I think communities like Watch Crunch are great and overwhelmingly positive and supportive . . . and you can learn a lot about the hobby. All good things. But it's also important to realize that we're all coming from very different backgrounds and a lot of us are much older than you with a lifetime of professional development, financial evolution, all of the ups and downs that life gives you. In other words, don't compare yourself to a 50 or 60 something year old dude who did well for themselves in tech or finance. When I was your age I wasn't into watches at all (I kind of wish I had been considering the prices back then haha) . . . but I wouldn't have been in the position to buy what I can now nor would it have been the prudent move. That said, I did wear a Seiko 5 and that thing served me well and was my only watch for over a decade.

I can take out $100 a paycheck. If I need that money for something else during that pay period, then I use it for that or jail money. It took 3 years for me to save up for my Tudor GMT. It doesn’t have to be a sprint or marathon, it was just taking my time.

Thinking maybe he mean the “envelope method”, google it and see what pops up for savings. General idea is you have an envelope (or account) for each thing you are saving for and you out a little in each envelope every time you get paid.

I can resist everything , but temptation

...