how does one know if they can afford watches?

[sambb]

I want to spend 5 months of savings on a watch. I have no debt. What should i look at.

[Fat_ninja]

Originally Posted by sambb

I want to spend 5 months of savings on a watch. I have no debt. What should i look at.

The wife...

[Syed117]

I tend to think of it as throw away money. If you can throw away that amount of money and not feel anything then I think it's ok.

Don't believe necessarily in saving for these kinds of items.

[Etschell]

Originally Posted by Fat_ninja

The wife...

What if he has no wife?

[superdog]

Are you broke after the spend? If yes, you can’t afford it.

Will you have at least three months of savings afterwards? Yes, you can afford it.

It’s rudimentary, but that’ll answer your question. And fwiw, I asked myself the same question for near to a decade with watches.

[Fat_ninja]

Originally Posted by Etschell

What if he has no wife?

Mom


Edit...I take that back... if you don’t have a wife to ask.... get a wife first. Then ask the wife. Otherwise default back to mom

[GB-man]

Consult with a financial planner or do what I do. Have a few drinks and wire the money over

[Fchernyak]

I’m in the same boat... i usually like to think that if you can buy 4 of something then you can afford it. I’m in a situation where I can afford to do that but still feeling reluctant in pulling the trigger. This would be my 3rd watch and the 2nd one was bought 3 months ago


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[watchmework]

Originally Posted by Fat_ninja

Mom


Edit...I take that back... if you don’t have a wife to ask.... get a wife first. Then ask the wife. Otherwise default back to mom

a very fitting response to the OPs question.

[FTX I]

I use basic math

[Paul_I]

[GreatHarry]

It's called disposable income.

[aparker973]

To me, it's more of an income & expense thing than a debt thing, so long as you can very comfortably service the debt.

[Boothroyd]

I am of the school that says if one has to ask, one can't afford it. But I didn't buy a Rolex until my 50's, so I guess that school I refer to is "old school".

[LandWatch]

We all have very different perspectives towards money and watches, but I would never spend 5 months worth of savings on a watch. Never.

I would think of it in terms of “would I trade 5 months of hard work, 5 months of my life, for just a watch?”.

[Hanze]

Like some members have stated savings shouldn’t be used to fund a watch, I’m far from a collector but to buy a watch you should have a totally different account specifically allocated to this. IMO money in a savings should very much stay there.

[East Bay Rider]

Can you afford a motorcycle or a small boat?
Can you afford a vacation or some other indulgence?
That's a Rolex instead.
Don't overthink it.

[beshannon]

Originally Posted by sambb

I want to spend 5 months of savings on a watch. I have no debt. What should i look at.

What do you want?

[derekhayden]

This forum is filled with so many different financial backgrounds that I think you will need to make this decision for yourself. There are just too many variables.

For myself; I have a mortgage, kids, etc. I am still responsible for so there is no way I would be buying a watch if it was 5 months of my total savings. Honestly even if I was 100% debt free, no mortgage or anything this would still be a tough call for me but plenty of people here do it I am sure.

[SMD]

Five months sounds like too much irrespective of your lack of debt. I would bank the 5 months and start saving again for the watch. If you can get it while still maintaining that 5 month cushion and sleep at night then consider it. But no one know what kind of financial or familial obligations you have so no one can answer for you.

[brandrea]

Originally Posted by Syed117

I tend to think of it as throw away money. If you can throw away that amount of money and not feel anything then I think it's ok.

Don't believe necessarily in saving for these kinds of items.

Originally Posted by GreatHarry

It's called disposable income.

[1William]

You might be overthinking it. How much cash do you have on hand and what are your financial obligations. Calculate accordingly and find a watch that you like for the money you have. Get your best deal, pay, insure the watch, wear and enjoy, repeat. That simple. Good luck.

[SunTzu]

How old are you? If you're young, do it. You only live once. You'll make it back. Worst case, you'll sell it for a loss but recoup some of the money. Just insure it.

I remember my buddy was in Switzerland in 1996, in debt from law school, putting everything on credit cards, and bought a GMT there. I thought he was nuts when he came back.

PS, 20+ years later, he's living large, financially well off, and still wearing the same GMT with the coolest looking ghosted bezel.

[enjoythemusic]

i see it like my days of hard-core racing, never track a car you can't push off a tall cliff and walk away from without feeling too financially hurt. You had fun tracking the car, and sometimes things happen at the track.

[j.mo]

I'd say no, but I'm a nutcase .
When I bought my sub a few years back I had just paid my house off and had enough in the bank to buy 35 of them at retail. I still stressed until the f it moment came and I wired the money. I dont regret it one bit. But not in the situation stated OP.
Keep it as a goal and stay focused on it when the time is right.

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[Blansky]

If you still have enough available balance left on your credit card then you're good to go.

Buy it. Live a little.

[dtwer]

I guess the question begs for more clarifications. What does "5 months of savings" mean?

Is it "5 month worth of living expenses, in a saving account?" Or is it "it takes me 5 months to save aside throw-away money for a watch?"

[AzHadEnuf]

I could never spend 5 months of savings on a watch, I mean it’s “Savings”. Now that little white envelope in the drawer that I toss a couple of hundred in every once in a while, my “Watch Fund”, that I can spend without reservation. I know, semantics.

[Blansky]

I think without credit cards, Rolex and the others would be out of business years ago.

[crazymcmichael]

Originally Posted by dtwer

I guess the question begs for more clarifications. What does "5 months of savings" mean?

Is it "5 month worth of living expenses, in a saving account?" Or is it "it takes me 5 months to save aside throw-away money for a watch?"

5 months of survival money is different than 5 month of living normal money.... I have 5 years survival money but dont feel ok to buy a 3d now..