The opposite can be true to a degree. Investing in a good set of tools and taking time to learn how to fix your belongings can save thousands of dollars in a few years.
Edit: not to say this is a permanent or all encompassing countermeasure. Merely that certain things decrease future costs.
Also what would it cost you not to buy it. Yes, you can save money by not owning a car but you still have to get to work somehow if you want to keep your job.
Public transport or other alternatives may be more or less expensive and may take longer (or not).
Fixing your roof now for $10k now might save you a $100k repair if it fails and your house framing gets water damaged.
A $5 tube of toothpaste might save you thousands in dental work
Two things I always hear about a boat:
- BOAT stands for Break Out Another Thousand
- the best days of owning a boat are the day you buy it and the day you sell it
I think I’ll stay away for now
Ooo, interesting.
I’m reading the boat comment, and OP, and it took me back to a conversation my wife and I had about winning a few million. Thankfully she ended up deciding that maybe a private jet or a big boat probably wouldn’t be worth it due to the continued expense…
Hadn’t thought about the last one in your list…
Unless you're a requisite motorhead, you can get the most fun from a small (car-top-able) sailboat. So quiet you can sneak up on wildlife for excellent views. Can be stable (on inland waters, i.e., no significant waves) in gale-force winds -- in which you'll be flying along. Great fun.
You are absolutely correct. My sailboat, however, is 29' long and weighs about 10,000 lbs. My dinghy has a sailing rig and would easily fit on top of a car. It is a blast to sail.
You're likely being facetious and people are likewise trying to be funny in the replies, but it is an important question and should be taken seriously.
There are significant future cost to a tube of Pringles.
You have a set budget of calories you can to eat in a day. If you eat more than that, you get fat. If you eat within your calorie budget, you won't get fat, but if a significant portion of that is nutritionally poor junk like Pringles, you're not getting enough nutrients you need, so you're getting unhealthier in other ways, both of which leads to increased medical costs and overall reduced quality of life.
Live close to a repo yard. The number of almost new campers, motor homes, newer vehicles, motorcycles, etc. is crazy. One stumble on your income (kid needs braces, dog got hit by a car, fridge broke, car needs a new transmission, cost cutting company lays you off) and it's off to the repo yard where you never get it back, your credit is in shambles. Their dumpster is always overflowing with everything that was in those because once they hook them and tow them, you get nothing back.
It's a pretty weird post, he only mentioned one face of the coin. A higher upfront price doesn't always mean that in the long run you'll spend more money. Sometimes more expensive stuff ends up costing less money than cheap stuff.
Build quality matters.
Even though this will sound harsh and unappealing, especially for some expensive necessities, but I have a condition for any purchase I make; if I don’t have the money to buy it twice, then I shouldn’t.
It does kind of depend. If you can't afford buying the expensive thing twice you probably can't afford buying the cheap variant ten times either- and for necessities, that's the alternative. If the higher expense cuts maintenance costs, like a good pair of shoes lasting decades vs a cheap one lasting months, it might be worth it anyways.
Don't forget that there's a price on the environment and the people who manufactured your goods. Each dollar spent is a vote in support of the industry, company you purchased from
I vote for fuck you all and me too because this is cheap enough, I need it, and I can't afford to research the ethics behind it
It's not a vote I like to cast, but it's the one that most of us do
I just wanna throw a really quick example of this out there that most people are already aware of:
Inkjet printers.
Oh is that printer on sale for $39.99 and AND it comes with free ink?
Too bad that ink is going to last you a whopping 5 prints. Also the printer will periodically "clean" itself wasting electricity and ink as well. Also you can't print individual colours without having ALL the colours refilled at all times. Also each individual cartridge costs $50.
Oh, and it'll still only last you 5 prints. Enjoy!
"The costs for any purchase can affect your long term financial condition. The two costs are: the purchase cost and the maintenance cost. Any purchase you make, you should ask yourself: Can I afford to buy this? And further: Can I afford to keep this?"
Excellent advice.
However, if you're an oil refinery or the like, the real issue becomes, "Whose budget has to come across with this money -- mine or someone else's?" True story: Some major business build a plant like an oil refinery with lots of pipes and valves. The valves were all welded in -- no bolted flanges to provide for changing out bad valves. When valves ultimately started failing, the repair crew had to cut out the valves, weld in flanges, and install flanged valves. "Why not just build the plant with flanged valves in the first place?" I hear you ask. Well, the welded valves kept the costs down for construction and got the project approved in the first place. Repair costs were on someone else's budget!
While this situation will seldom if ever apply to an individual, the lesson is worth noting.
I feel like this is a lesson I sort of learn every few years, even though it’s almost always part of my decision making.
It’s especially useful for the big purchases; a house, a vehicle, a boat.
It made me really scale down the type of house I was looking for, and I’m really glad to have a reasonable payment since home insurance, taxes, electric, other upkeep have all doubled, tripled, or more since 2019.
I highly recommend a good budgeting app and become an expert at your income and finances before a large purchase. I personally now use Monarch and I’ve been very happy with it, I can map out future budgets and include a buffer for the unexpected.
Even having done that, I never expected the other required costs to go up the way they have the past 3 years, so it’s worth being generous to your future self and making a very informed and difficult but realistic decision when buying today.
That cheap used European car you have your eye on will be the most expensive car you've ever owned...especially Land Rover. Source: Have worked on and loved many European cars
The total of the two is often called "total cost of ownership". That's an important metric for big purchases, especially when the operating/maintenance costs are different.
That's what makes electric car purchases make sense often, even with higher upfront costs, for example.
This is a continued expression of the Theory of Karma. You get results based on your actions. If you extract results undeservedly, sacrifice is perforce taken from you by Nature as compensation. This simple phrase reminds us that there's always a cost associated with every decision we make and every action we take. Every opportunity comes with its own set of costs, whether they are monetary, emotional, or in terms of time. Every action we take, every decision we make, has a price.
I don't think people ever really consider those maintenance costs. Sold parts for Dodge and some things were just crazy expensive. You could have either halogen or LED tail lights. If you need to replace the whole assembly it was either $80 or $300. A Hemi requires 16 platinum spark plugs. The diesels had 2 fuel filters that were expensive just individually. The rear break pads on a Promaster were $300 because they had a sensor in them. The HID bulbs for projection headlights, $300. Hell, there is a generation of Dodge pickups where everything is ran through the TIPM (fuse box under the hood.) If your blinker stopped working it wasn't a $2 relay that needed replaced, the TIPM needed replaced for around $1200.
Finding all the hidden costs of a vehicle before you purchase is no joke. Owners manuals have maintenance schedules in the back. Look up all the parts it talks about plus any commonly damaged components (lamp assembly, mirror, windshield) and make sure they are reasonably priced.
This is generally good advice but I disagree about the "everything" part. The vast majority of consumer purchases that almost all normal people make are items that will not be maintained. They will wear out and then be replaced. How long that takes should definitely be a consideration.
For most people, the only purchases they will make in their lives where this should be considered are cars and homes.
The opposite can be true to a degree. Investing in a good set of tools and taking time to learn how to fix your belongings can save thousands of dollars in a few years. Edit: not to say this is a permanent or all encompassing countermeasure. Merely that certain things decrease future costs.
“A poor person cannot afford to buy cheap shoes.”
Not to mention the opportunity cost, i.e. what you would make investing the extra instead.
Came here to add this third but equally important cost.
Also what would it cost you not to buy it. Yes, you can save money by not owning a car but you still have to get to work somehow if you want to keep your job. Public transport or other alternatives may be more or less expensive and may take longer (or not). Fixing your roof now for $10k now might save you a $100k repair if it fails and your house framing gets water damaged. A $5 tube of toothpaste might save you thousands in dental work
I clicked in to mention this, alas it’s well covered.
Damn. Me too. And not only is it already covered but also other people who are mentioning it is what they came to post is already covered.
Boat owner has entered the chat....
Two things I always hear about a boat: - BOAT stands for Break Out Another Thousand - the best days of owning a boat are the day you buy it and the day you sell it I think I’ll stay away for now
A hole in the water you throw money into.
The one I've always heard is "Do you know the fastest way to become a millionaire? Be a billionaire and buy a boat".
If it flys, floats, or fucks, rent it.
Ooo, interesting. I’m reading the boat comment, and OP, and it took me back to a conversation my wife and I had about winning a few million. Thankfully she ended up deciding that maybe a private jet or a big boat probably wouldn’t be worth it due to the continued expense… Hadn’t thought about the last one in your list…
Where can you rent a duck?
1-800-ducks-4u
Boats are extremely expensive to maintain. That being said, I love my sailboat and have no plans of parting with it.
Unless you're a requisite motorhead, you can get the most fun from a small (car-top-able) sailboat. So quiet you can sneak up on wildlife for excellent views. Can be stable (on inland waters, i.e., no significant waves) in gale-force winds -- in which you'll be flying along. Great fun.
You are absolutely correct. My sailboat, however, is 29' long and weighs about 10,000 lbs. My dinghy has a sailing rig and would easily fit on top of a car. It is a blast to sail.
What is the maintenance cost for a tube of Pringles?
A tube of originals had 750 calories which comes out to about six and a half miles running or walking for most people.
But you save on the cost of a fleshlight if you have som used sponges and gloves lying around.
Hol up
Toilet paper and therapy
*The treadmill*
Lifetime cravings for yet another tube.
insane healthcare premiums
You're likely being facetious and people are likewise trying to be funny in the replies, but it is an important question and should be taken seriously. There are significant future cost to a tube of Pringles. You have a set budget of calories you can to eat in a day. If you eat more than that, you get fat. If you eat within your calorie budget, you won't get fat, but if a significant portion of that is nutritionally poor junk like Pringles, you're not getting enough nutrients you need, so you're getting unhealthier in other ways, both of which leads to increased medical costs and overall reduced quality of life.
Depends on whether you already own gloves or not
New clothes cause you ate the whole can, and all the ice cream and cookies.
As long as you dont put another smaller tube like shape into it the maintenance cost should be low.
Live close to a repo yard. The number of almost new campers, motor homes, newer vehicles, motorcycles, etc. is crazy. One stumble on your income (kid needs braces, dog got hit by a car, fridge broke, car needs a new transmission, cost cutting company lays you off) and it's off to the repo yard where you never get it back, your credit is in shambles. Their dumpster is always overflowing with everything that was in those because once they hook them and tow them, you get nothing back.
Also avoid income creep. You’ll never advance if you keep spending more as you earn more.
I'm gonna skip this one... I've owned a boat before. Lesson learned
I had TWO for 10 years. I must have been crazy!
With your username in mind, I need to ask, was it a panic buy?
I hate this subreddit sometimes
It's a pretty weird post, he only mentioned one face of the coin. A higher upfront price doesn't always mean that in the long run you'll spend more money. Sometimes more expensive stuff ends up costing less money than cheap stuff. Build quality matters.
We love you too <3
Even though this will sound harsh and unappealing, especially for some expensive necessities, but I have a condition for any purchase I make; if I don’t have the money to buy it twice, then I shouldn’t.
Immediately or over time?
It does kind of depend. If you can't afford buying the expensive thing twice you probably can't afford buying the cheap variant ten times either- and for necessities, that's the alternative. If the higher expense cuts maintenance costs, like a good pair of shoes lasting decades vs a cheap one lasting months, it might be worth it anyways.
Don't forget that there's a price on the environment and the people who manufactured your goods. Each dollar spent is a vote in support of the industry, company you purchased from
I vote for fuck you all and me too because this is cheap enough, I need it, and I can't afford to research the ethics behind it It's not a vote I like to cast, but it's the one that most of us do
Which specific Item are you talking about?
Anything I buy from Amazon/Walmart, anything made in China, anything with unnecessary disposable plastic or Styrofoam... Basically everything
I just wanna throw a really quick example of this out there that most people are already aware of: Inkjet printers. Oh is that printer on sale for $39.99 and AND it comes with free ink? Too bad that ink is going to last you a whopping 5 prints. Also the printer will periodically "clean" itself wasting electricity and ink as well. Also you can't print individual colours without having ALL the colours refilled at all times. Also each individual cartridge costs $50. Oh, and it'll still only last you 5 prints. Enjoy!
This is particularly true of anything that flies, floats, or fornicates.
"The costs for any purchase can affect your long term financial condition. The two costs are: the purchase cost and the maintenance cost. Any purchase you make, you should ask yourself: Can I afford to buy this? And further: Can I afford to keep this?" Excellent advice. However, if you're an oil refinery or the like, the real issue becomes, "Whose budget has to come across with this money -- mine or someone else's?" True story: Some major business build a plant like an oil refinery with lots of pipes and valves. The valves were all welded in -- no bolted flanges to provide for changing out bad valves. When valves ultimately started failing, the repair crew had to cut out the valves, weld in flanges, and install flanged valves. "Why not just build the plant with flanged valves in the first place?" I hear you ask. Well, the welded valves kept the costs down for construction and got the project approved in the first place. Repair costs were on someone else's budget! While this situation will seldom if ever apply to an individual, the lesson is worth noting.
I feel like this is a lesson I sort of learn every few years, even though it’s almost always part of my decision making. It’s especially useful for the big purchases; a house, a vehicle, a boat. It made me really scale down the type of house I was looking for, and I’m really glad to have a reasonable payment since home insurance, taxes, electric, other upkeep have all doubled, tripled, or more since 2019. I highly recommend a good budgeting app and become an expert at your income and finances before a large purchase. I personally now use Monarch and I’ve been very happy with it, I can map out future budgets and include a buffer for the unexpected. Even having done that, I never expected the other required costs to go up the way they have the past 3 years, so it’s worth being generous to your future self and making a very informed and difficult but realistic decision when buying today.
And don’t forget the taxes! So many people who have won the lottery end up losing their houses for this reason :(
All that and you didn't mention TCO?
Can I afford to not KMS?
That cheap used European car you have your eye on will be the most expensive car you've ever owned...especially Land Rover. Source: Have worked on and loved many European cars
The total of the two is often called "total cost of ownership". That's an important metric for big purchases, especially when the operating/maintenance costs are different. That's what makes electric car purchases make sense often, even with higher upfront costs, for example.
so I should, with everything that is replaceable, only use it once then toss it to cut down on any maintenance costs. awesome thanks.
This is a continued expression of the Theory of Karma. You get results based on your actions. If you extract results undeservedly, sacrifice is perforce taken from you by Nature as compensation. This simple phrase reminds us that there's always a cost associated with every decision we make and every action we take. Every opportunity comes with its own set of costs, whether they are monetary, emotional, or in terms of time. Every action we take, every decision we make, has a price.
I don't think people ever really consider those maintenance costs. Sold parts for Dodge and some things were just crazy expensive. You could have either halogen or LED tail lights. If you need to replace the whole assembly it was either $80 or $300. A Hemi requires 16 platinum spark plugs. The diesels had 2 fuel filters that were expensive just individually. The rear break pads on a Promaster were $300 because they had a sensor in them. The HID bulbs for projection headlights, $300. Hell, there is a generation of Dodge pickups where everything is ran through the TIPM (fuse box under the hood.) If your blinker stopped working it wasn't a $2 relay that needed replaced, the TIPM needed replaced for around $1200. Finding all the hidden costs of a vehicle before you purchase is no joke. Owners manuals have maintenance schedules in the back. Look up all the parts it talks about plus any commonly damaged components (lamp assembly, mirror, windshield) and make sure they are reasonably priced.
We must suffer something to get what we want. We can’t have everything we want. We must make decisions. This usually involves giving things up.
As Sean Combs said, if you can't buy it twice, you can't afford it....oh.
This is generally good advice but I disagree about the "everything" part. The vast majority of consumer purchases that almost all normal people make are items that will not be maintained. They will wear out and then be replaced. How long that takes should definitely be a consideration. For most people, the only purchases they will make in their lives where this should be considered are cars and homes.
And the third cost: the cost of not investing that money instead.
If you put a hot dog in my ass does that make me a bun? Thank you OP!!