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

[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.

everything is relative.

[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.

There are many who can easily pay for the beach house but end up feeling tied to it in a way that they don't like. A friend is a Biglaw partner and his wife is a lobbyist and they have a beach house in Connecticut. They feel like they have to go there for at least a week or two each year. It makes no sense to let it sit empty. But they are extremely busy people and can only get away for certain amounts of time and they have found they wish they could spend the time elsewhere doing other things. But that would mean the beach house sits empty. Sure, it's 2026 and one can WFH to a certain extent, but you can't do that when you are at trial, need to be attending a lot of events in DC or meeting with clients or whatever. It's not that simple when both parents have very busy jobs.

[Anonymous]

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I think it's really about what you enjoy. Personally I enjoy nice design, seats and a luxury feel. But I won't pay a lot for it, not more than I'd pay for a Honda. Since I don't mind buying a car that's 3 or so years old, I can find what I want within my range.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I think it's really about what you enjoy. Personally I enjoy nice design, seats and a luxury feel. But I won't pay a lot for it, not more than I'd pay for a Honda. Since I don't mind buying a car that's 3 or so years old, I can find what I want within my range.

Yes, we all spend on what we enjoy (and what we can afford). Until we had enough money, we didn't buy luxury. But my spouse is a car person, so we have nice cars. Then again, we were 30 when we paid cash for our first luxury car (and haven't taken a car loan since then), so we can afford them.
And saving for the cars was not at the expense of other things---our mortgage was paid off by 40.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I thought luxury vehicles were a stupid waste of money until I moved to the DMV where many of us have outrageous commutes. I'm up to between one and one and a half ours one way to Georgetown from where I live now. Then I drive all the way back. And it's on 95. You know what I've decided? If you spend that much time in your car, get whatever the heck you want, as long as you can afford it. And the smoother ride offered by a luxury vehicle might help your body deal with the toll that comes with being in the car for hours. And safety features can't hurt, either.

[Anonymous]

We have no idea what to do with all our money. We drive (nice) Hondas and don’t buy designer stuff. We love to travel but use lots of points and miles and are fine with economy seats and mid priced hotels. We have no expensive hobbies. DH’s income has increased tremendously over the years (law) but our life hasn’t changed that much, especially because our kids were in MS/HS before the high income really hit so we didn’t want to move then. It sometimes feels strange but anything we consider spending on feels frivolous. Not a bad problem I guess but still feels weird.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I thought luxury vehicles were a stupid waste of money until I moved to the DMV where many of us have outrageous commutes. I'm up to between one and one and a half ours one way to Georgetown from where I live now. Then I drive all the way back. And it's on 95. You know what I've decided? If you spend that much time in your car, get whatever the heck you want, as long as you can afford it. And the smoother ride offered by a luxury vehicle might help your body deal with the toll that comes with being in the car for hours. And safety features can't hurt, either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I thought luxury vehicles were a stupid waste of money until I moved to the DMV where many of us have outrageous commutes. I'm up to between one and one and a half ours one way to Georgetown from where I live now. Then I drive all the way back. And it's on 95. You know what I've decided? If you spend that much time in your car, get whatever the heck you want, as long as you can afford it. And the smoother ride offered by a luxury vehicle might help your body deal with the toll that comes with being in the car for hours. And safety features can't hurt, either.

This is why people with money pay the big bucks to live close-in. If you are someone who “needs” land and privacy, buy a weekend house in horse country or on the shore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I thought luxury vehicles were a stupid waste of money until I moved to the DMV where many of us have outrageous commutes. I'm up to between one and one and a half ours one way to Georgetown from where I live now. Then I drive all the way back. And it's on 95. You know what I've decided? If you spend that much time in your car, get whatever the heck you want, as long as you can afford it. And the smoother ride offered by a luxury vehicle might help your body deal with the toll that comes with being in the car for hours. And safety features can't hurt, either.

In fairness, most of us would rather spend more for a place to live 10 minutes away then live 90 minutes away and buy a luxury car.

[Anonymous]

Porch 911 but no I ll stick to my minivan
Hermes bags no thanks they are too heavy.

Fly first or business every flights : we only fly first or business for flights over 8 hours. We are only mid 40s , fit and not over weight, not super tall. We are fine without lay flat seat most flights.

We live in a 650k house which has about 1 mil market value now. We can afford 3 to 4 mil house but no thank you! Too much upkeeps and we r in low cost of living .

[Anonymous]

When I was 30, I dreamed of what I would buy when I had the money. When I was 40, I prioritized funding college and activities for the kids and my retirement. At 50, colleges are paid for and there’s $4M put away for my retirement. The house where the kids grew up seems too big now. I want to sell it and buy a small easy to maintain condo. I don’t want to spend money on a luxury car—I walk to town most days to pick up groceries or dinner.

My splurges are nice vacation trips whenever the kids have vacation time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I thought luxury vehicles were a stupid waste of money until I moved to the DMV where many of us have outrageous commutes. I'm up to between one and one and a half ours one way to Georgetown from where I live now. Then I drive all the way back. And it's on 95. You know what I've decided? If you spend that much time in your car, get whatever the heck you want, as long as you can afford it. And the smoother ride offered by a luxury vehicle might help your body deal with the toll that comes with being in the car for hours. And safety features can't hurt, either.

In fairness, most of us would rather spend more for a place to live 10 minutes away then live 90 minutes away and buy a luxury car.

NP- One could argue a 800k house further away and a one time luxury car purchase makes more sense economically than a 4 mil house closer and no car.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

everything is relative.

Yup! The luxury cars are equally more as well. But they are nice and if you enjoy what they offer and can afford it treat yourself. But if you don't care then yes buy a Toyota/honda and it will serve you well.

I thought luxury vehicles were a stupid waste of money until I moved to the DMV where many of us have outrageous commutes. I'm up to between one and one and a half ours one way to Georgetown from where I live now. Then I drive all the way back. And it's on 95. You know what I've decided? If you spend that much time in your car, get whatever the heck you want, as long as you can afford it. And the smoother ride offered by a luxury vehicle might help your body deal with the toll that comes with being in the car for hours. And safety features can't hurt, either.

In fairness, most of us would rather spend more for a place to live 10 minutes away then live 90 minutes away and buy a luxury car.

NP- One could argue a 800k house further away and a one time luxury car purchase makes more sense economically than a 4 mil house closer and no car.

I guess if you place zero value on your time...which is the problem with most people. However, this thread is "what you could afford" but don't buy, not what is more sense economically.

I hate commuting...I would find a place to live for $800k - $1MM (which is possible) that allows me to have little to no commute. Not sure why I have to now buy a $4MM house (which even today in Georgetown can buy you a pretty nice house).

[Anonymous]

Anonymous wrote:We have no idea what to do with all our money. We drive (nice) Hondas and don’t buy designer stuff. We love to travel but use lots of points and miles and are fine with economy seats and mid priced hotels. We have no expensive hobbies. DH’s income has increased tremendously over the years (law) but our life hasn’t changed that much, especially because our kids were in MS/HS before the high income really hit so we didn’t want to move then. It sometimes feels strange but anything we consider spending on feels frivolous. Not a bad problem I guess but still feels weird.

I was like you. The decision I made that I previously couldn’t afford was to quit my job.