What item could you “afford” but don’t buy?

[Anonymous]

Anonymous wrote:

Anonymous wrote:More than 2 kids.

This for me! I really wanted 3 or 4 but didn't feel like it was a wise decision due to college costs. We would never qualify for need-based aid. I know we could have insisted on state schools, but both my spouse and I did state schools and did not enjoy them. Our kids are at smaller, private colleges and loving it. But it will cost $800k before they are both done. Doubling that did not seem doable. Then adding in the private music lessons, the dance, sports, enrichment, etc. We could see two was our limit to achieve our other financial goals.

Doesn’t sound like you could actually afford it then.

[Anonymous]

Anonymous wrote:I’ll go first. I could afford a numbered iPhone. Even the latest model! But I’ve always had SE models because I don’t see the value in the numbered models. I’m not a huge photo nerd so the camera piece is irrelevant.

What items do you not buy, but could afford to?

Luxury cars. Anything beyond a nicely equipped Toyota/Honda is a complete waste as far as we’re concerned.

[Anonymous]

I could afford to fix the big dent in the rear of my car, from when I backed up into a parked car in my own driveway (face palm), but it just seems like a waste of money. The lowest estimate to repair was $500, and the dent doesn’t interfere with any car functions. It’s purely a cosmetic concern. Meh, I’ll live with it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ll go first. I could afford a numbered iPhone. Even the latest model! But I’ve always had SE models because I don’t see the value in the numbered models. I’m not a huge photo nerd so the camera piece is irrelevant.

What items do you not buy, but could afford to?

Luxury cars. Anything beyond a nicely equipped Toyota/Honda is a complete waste as far as we’re concerned.

Toyotas and Hondas aren't cheap anymore though.

[Anonymous]

Anonymous wrote:Same with a beach house. I would love one but we would not go enough and it would just be a pain.

Same. A wise financial investor friend told me long ago beach houses were the most regretted purchase of many people whose money she managed. Of course there are exceptions, but many feel either tied to going there for their time off because of the opportunity cost or frustrated by the continuous list of chores every time they went. For my money, I'll take luxury vacations to different places and have someone else cook, clean, and re-stock toilet paper.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Same with a beach house. I would love one but we would not go enough and it would just be a pain.

Same. A wise financial investor friend told me long ago beach houses were the most regretted purchase of many people whose money she managed. Of course there are exceptions, but many feel either tied to going there for their time off because of the opportunity cost or frustrated by the continuous list of chores every time they went. For my money, I'll take luxury vacations to different places and have someone else cook, clean, and re-stock toilet paper.

It's because at the end of the day, they can't really afford the beach house.

So much of this discussion I guess is perhaps what an independent 3rd party would say you can afford after looking at your finances vs. psychologically how someone thinks of their money.

I guess I could afford to fly business or first class, but psychologically I don't feel like I can afford it because I would make adjustments to my other spending.

If I won the powerball tomorrow, I would never fly coach again (and definitely look into flying private using NetJets or something equivalent)...would buy a vacation home, etc. and wouldn't change anything about my life as a result of that spending.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:More than 2 kids.

This for me! I really wanted 3 or 4 but didn't feel like it was a wise decision due to college costs. We would never qualify for need-based aid. I know we could have insisted on state schools, but both my spouse and I did state schools and did not enjoy them. Our kids are at smaller, private colleges and loving it. But it will cost $800k before they are both done. Doubling that did not seem doable. Then adding in the private music lessons, the dance, sports, enrichment, etc. We could see two was our limit to achieve our other financial goals.

Doesn’t sound like you could actually afford it then.

This is most people, though. And it doesn't have to be that way.

[Anonymous]

Same with a beach house. I would love one but we would not go enough and it would just be a pain.


Same. A wise financial investor friend told me long ago beach houses were the most regretted purchase of many people whose money she managed. Of course there are exceptions, but many feel either tied to going there for their time off because of the opportunity cost or frustrated by the continuous list of chores every time they went. For my money, I'll take luxury vacations to different places and have someone else cook, clean, and re-stock toilet paper.

I think this determination really depends on your financial situation. We own a beach house (that we use frequently), and so naturally know many other people who do as well. Absolutely none of the people I know are choosing between vacationing at their beach home versus taking other (often luxury) vacations - these people use their beach homes in the summer only and frequently travel internationally or take upscale beach vacations in the off-season. What you posited is a false dichotomy for many people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Same with a beach house. I would love one but we would not go enough and it would just be a pain.

Same. A wise financial investor friend told me long ago beach houses were the most regretted purchase of many people whose money she managed. Of course there are exceptions, but many feel either tied to going there for their time off because of the opportunity cost or frustrated by the continuous list of chores every time they went. For my money, I'll take luxury vacations to different places and have someone else cook, clean, and re-stock toilet paper.

It's because at the end of the day, they can't really afford the beach house.

So much of this discussion I guess is perhaps what an independent 3rd party would say you can afford after looking at your finances vs. psychologically how someone thinks of their money.

I guess I could afford to fly business or first class, but psychologically I don't feel like I can afford it because I would make adjustments to my other spending.

If I won the powerball tomorrow, I would never fly coach again (and definitely look into flying private using NetJets or something equivalent)...would buy a vacation home, etc. and wouldn't change anything about my life as a result of that spending.

We had one. It was such a hassle though. We had someone managing it for us so it was always clean, fresh sheets etc when we got there plus they handled all trades etc. But even having to deal with the manager was time consuming. I guess if we had a cheaper home and didn’t care too much about how it looked after not being there for several months it would be different.

[Anonymous]

Anonymous wrote:

Same with a beach house. I would love one but we would not go enough and it would just be a pain.


Same. A wise financial investor friend told me long ago beach houses were the most regretted purchase of many people whose money she managed. Of course there are exceptions, but many feel either tied to going there for their time off because of the opportunity cost or frustrated by the continuous list of chores every time they went. For my money, I'll take luxury vacations to different places and have someone else cook, clean, and re-stock toilet paper.

I think this determination really depends on your financial situation. We own a beach house (that we use frequently), and so naturally know many other people who do as well. Absolutely none of the people I know are choosing between vacationing at their beach home versus taking other (often luxury) vacations - these people use their beach homes in the summer only and frequently travel internationally or take upscale beach vacations in the off-season. What you posited is a false dichotomy for many people.

When we lived in scrubland, so many owned beach homes/condos. And many only went to Disney and the beach house on trips. Because unless you are rich most feel obligated to use their 2nd home.

And that's why we didn't buy one--easier to rent if you want to go to beach (and I'd prefer better beaches less frequently than Md/va/del beaches any day)

[Anonymous]

Anonymous wrote:

Same with a beach house. I would love one but we would not go enough and it would just be a pain.


Same. A wise financial investor friend told me long ago beach houses were the most regretted purchase of many people whose money she managed. Of course there are exceptions, but many feel either tied to going there for their time off because of the opportunity cost or frustrated by the continuous list of chores every time they went. For my money, I'll take luxury vacations to different places and have someone else cook, clean, and re-stock toilet paper.

I think this determination really depends on your financial situation. We own a beach house (that we use frequently), and so naturally know many other people who do as well. Absolutely none of the people I know are choosing between vacationing at their beach home versus taking other (often luxury) vacations - these people use their beach homes in the summer only and frequently travel internationally or take upscale beach vacations in the off-season. What you posited is a false dichotomy for many people.

Yep, this is what we do. We go to the Caribbean and Europe during winter and spring break. We spend a lot of time at our beach house in the summer but also on weekends throughout the year. It’s only 90 mins from us.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Nicer car, fancy clothes, expensive shoes, branded handbag, Apple Watch (too distracting), expensive sunglasses, expensive wine/liquor, extravagant travel, private yoga instruction.

What I am buying that I didn’t in the past… luxurious towels and linens, a person to organize my house and help do Swedish death cleaning, beach house, lots a less extravagant travel.

Single 60 yo woman btw (might rethink the private yoga thing)

I have an Apple watch I got as a gift. Tbh I find it neither distracting nor very useful. I have it on the Snoopy setting so once in a while I will glance down and see Snoopy doing something cute and it makes me smile. That is about it.

I also have the snoopy face and like it. I got one as a teacher because I can keep my phone locked away but still get urgent texts/calls from my family or teammates

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’ll go first. I could afford a numbered iPhone. Even the latest model! But I’ve always had SE models because I don’t see the value in the numbered models. I’m not a huge photo nerd so the camera piece is irrelevant.

What items do you not buy, but could afford to?

Luxury cars. Anything beyond a nicely equipped Toyota/Honda is a complete waste as far as we’re concerned.

Toyotas and Hondas aren't cheap anymore though.

We bought a new Toyota Prius last year and it was cheaper that the one we bought 2 years prior (we have 2). They are ugly but are fantastic cars that last forever. Our first one last over 10 years with very little problem.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Guacamole at Chipotle

Ding, ding! The only correct answer.

I preferred the earlier response that included queso.

Except it’s a running joke… you know someone is rich when they order guacamole for their chipotle.

I'm aware of the previous thread. And it involved ordering both guac and queso.

It’s not a DC urban mom thing it’s a Internet thing and no, it does not include queso.

Okay. Guess there are two similar running jokes then as I'm not the only one who responded based on the DCUM one.

It's a DCUM thing. It can be an "internet thing" but also a DCUM thing. I've only seen this discussion on DCUM.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Business class or first class flights. I could technically afford it (and did it once for an overnight flight) but I just can't spend the money. Maybe when my kids are grown and I am older and just travelling with by husband I'll do it.

I fly to India often to spend time with my elderly parents. I will absolutely pay for business class out of pocket...because I just can't do the solo travel for 20 hours of flight time any more.

+100

I need that lie flat seat for long haul travel.