Depends how the debt is presented. My mortgage account is just a big flexible overdraft of borrowed money from my bank. When I log online into my current account (I think you call it a Checking Account / Chequing Account? across the pond) the mortgage account is linked with all the other accounts and shows on first page. So every I login to pay a bill, it is 'in my face' how much money I owe. The way this debt is presented has probably consciously (or sub-consciously) made me think any money I spend on a luxury non-essential item is being borrowed from the mortgage account. That said, I have been known to buy the odd luxury item using borrowed money In fact all money in existence is borrowed from somewheregwells wrote:the mortgage example is a poor comparison. unless you already have a free place to live as an alternative to buying, you're going to have a monthly cost for housing. whether it's rent or mortgage, you will have that fixed cost.
Buying A Watch On Finance
- craigski
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Re: Buying A Watch On Finance
- gwells
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Re: Buying A Watch On Finance
i guess you can rationalize anything if you want to convince yourself to do something.
the "g" is for Greg...
- magicman
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Re: Buying A Watch On Finance
When purchasing anything on credit, I always make sure to sign up for PPI, that way I can put something away for a rainy day and claim it back later.
I do think I would be sporting a new Trident if CW offered a free credit option.
Regards Steve
I do think I would be sporting a new Trident if CW offered a free credit option.
Regards Steve
Selling Tudor Pelagos 39
Re: Buying A Watch On Finance
I bought my last two, and both the most expensive I've bought (so far) using a credit card with 0% finance for 15 months. When the period is up I'll pay the credit card off from the money I was going to use and I'll have made tuppence in interest in the meantime. I couldn't get any better price so haven't paid a premium for using a credit card.
My best though is taking a chunk of money out of my flexible mortgage arrangement, on which I'm paying base +0.5% and giving it back to the same institution and being paid 3% interest. The minute the interest rate starts to work against me I'll take the money out of the investment account (no notice required) and pay it off the mortgage.
On a more serious note, spending "silly" money on a watch (and "silly" will be subjective of course) is not an intelligent thing to do unless your financial situation is in balance. IMHO anyway.
My best though is taking a chunk of money out of my flexible mortgage arrangement, on which I'm paying base +0.5% and giving it back to the same institution and being paid 3% interest. The minute the interest rate starts to work against me I'll take the money out of the investment account (no notice required) and pay it off the mortgage.
On a more serious note, spending "silly" money on a watch (and "silly" will be subjective of course) is not an intelligent thing to do unless your financial situation is in balance. IMHO anyway.
Re: Buying A Watch On Finance
Never use finance Will only buy if I can afford it cash That's why I own p..s all
Re: Buying A Watch On Finance
Been thinking about this myself.i think if buying a grail or a keeper its prob a good way to do it as you can spread the cost over x amount of time so not notice payments as much and you can have the watch there and then and you could get interest free so not paying over the odds for it.would help you purchase as you dont need all the outlay in one go.im looking at doing it interest free over a couple of years so easy to repay and have grail watch at the end of it.thats my 2p worth
Re: Buying A Watch On Finance
Yup I bought one on finance while drunk.... It's too easily done lol
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Sent from my iPad using Tapatalk HD
Re: Buying A Watch On Finance
I'd certainly rather save up than take on finance , especially as I'm bored of most watches within a few weeks.
- Amor Vincit Omnia
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Re: Buying A Watch On Finance
I was tempted to walk out of Goldsmiths in Norwich with a Speedy on 0% once, but I resisted.
Steve
Linguist; retired teacher; pilgrim; apprentice travel writer
Take nothing but pictures, leave nothing but footprints, kill nothing but time
Avoid loud and aggressive persons; they are vexatious to the spirit. (Max Ehrmann)
Linguist; retired teacher; pilgrim; apprentice travel writer
Take nothing but pictures, leave nothing but footprints, kill nothing but time
Avoid loud and aggressive persons; they are vexatious to the spirit. (Max Ehrmann)
- sonofcantona
- Scrabble King
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Re: Buying A Watch On Finance
I bought my Seamaster on 0%. I am a rubbish saver but do have some disposal monthly income that I normally just waste. So I though sod it, I want one and I can afford one. Happy choppy here lol
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Sent from my iPhone using Tapatalk
Re: Buying A Watch On Finance
Good point. Saving up does allow you to decide whether you really want that particular watch.Gobo73 wrote:I'd certainly rather save up than take on finance , especially as I'm bored of most watches within a few weeks.
I'm saving for a GMT Master 2 currently and the desire is still there, I'm pleased to say.
- MadJam250
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Re: Buying A Watch On Finance
Great willpower!Amor Vincit Omnia wrote:I was tempted to walk out of Goldsmiths in Norwich with a Speedy on 0% once, but I resisted.
MadJam
* CWL, x2 (C2, C3)
* Steinhart Titanium O1Ti500P
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* CWL, x2 (C2, C3)
* Steinhart Titanium O1Ti500P
* Tissot Visodate heritage incoming
* Certina DS Podium chrono
* Seiko SARB033
* Smiths vintage mechanical WC4204/s
* Brathwait Classic Slim Steel
* Invicta 8924, 9094
- Amor Vincit Omnia
- Moderator
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Re: Buying A Watch On Finance
Not really. It was a simple question. The repayments would have been the money I set aside for the holiday budget.
2 x holiday vs 1 x watch?
In my world that's a no-brainer.
I went on holiday. Twice.
2 x holiday vs 1 x watch?
In my world that's a no-brainer.
I went on holiday. Twice.
Steve
Linguist; retired teacher; pilgrim; apprentice travel writer
Take nothing but pictures, leave nothing but footprints, kill nothing but time
Avoid loud and aggressive persons; they are vexatious to the spirit. (Max Ehrmann)
Linguist; retired teacher; pilgrim; apprentice travel writer
Take nothing but pictures, leave nothing but footprints, kill nothing but time
Avoid loud and aggressive persons; they are vexatious to the spirit. (Max Ehrmann)
-
- Senior Forumgod
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- Joined: Tue Jan 20, 2009 4:55 pm
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Re: Buying A Watch On Finance
Agreed, anybody who chooses to buy a watch over two holidays needs their 'head read'...
Just like you have to be disciplined to save, you need to be disciplined with finance too.
As long as you budget for the repayments being 'spent', and you can afford them of course, then I don't see a problem.
Just like you have to be disciplined to save, you need to be disciplined with finance too.
As long as you budget for the repayments being 'spent', and you can afford them of course, then I don't see a problem.
Ideal number of watches in your collection = current number of watches + 1...
- gbbird
- Senior Forumgod
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Re: Buying A Watch On Finance
Really? PPI is the biggest scam on the planet. Be interested to know why you opt for itmagicman wrote:When purchasing anything on credit, I always make sure to sign up for PP
Ticking away the moments that make up a dull day
CW - C60 blue, C60 black orange, C600 tit, FLE13
Gerlach - Orp Sokol, P50, LuxSport. Ball Engineer
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CW - C60 blue, C60 black orange, C600 tit, FLE13
Gerlach - Orp Sokol, P50, LuxSport. Ball Engineer
Omega Speedmaster. Oris Aquis
Longines Hydroconquest
Magrette - Regattare, DualTime, Moana
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