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Old 26 December 2008, 10:53 AM   #1
Felly Jr.
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He's been banned. Again.
He's almost catching up to JJ!
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Old 26 December 2008, 10:55 AM   #2
ippon20
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It's kinda sad really....poor guy just doesn't learn.
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Old 26 December 2008, 11:47 AM   #3
scottschoe
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Originally Posted by Honda Guy View Post
Hello fellow TRF members,
I have been silly and it is time I come clean.

I bought a number of watches (rolex included) and used debt to pay for them. These watches have really made me happy but now I worry about the interest, wife finding out, stupidity of it all.

I earn middle class money but - after paying the home loan, car loan, credit card bills, I have nothing left. I then got a Citibank personal loan pre-approval in the mail,.... I took the money (which I was going to pay off the credit cards) and bought some watches.

I bought the following pieces (i paid about $20K):-
Rolex 16233, 69173 (for the wife)
Breitling Navitimer
Cartier ladies Diablo
Omega Speedie

Since buying the watches (used) the market has crashed. The dealer I bought them from staid he is now selling very little.

I owe $60k excluding the home loan.

When do you think the market will come good again?
Return (and exit) of the luxury guy...
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Old 26 December 2008, 01:04 PM   #4
hflee55
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when will it ever end....
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Old 26 December 2008, 01:14 PM   #5
GradyPhilpott
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Sell the house and keep the watches.
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Old 26 December 2008, 01:52 PM   #6
Bisquitlips
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Sell the house and keep the watches.
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Old 26 December 2008, 11:27 PM   #7
BillA
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Sell the wife and all your problems are over LOL
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Old 27 December 2008, 06:14 AM   #8
Taffi Abernathy
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Quote:
Originally Posted by Honda Guy View Post
Hello fellow TRF members,
I have been silly and it is time I come clean.

I bought a number of watches (rolex included) and used debt to pay for them. These watches have really made me happy but now I worry about the interest, wife finding out, stupidity of it all.

I earn middle class money but - after paying the home loan, car loan, credit card bills, I have nothing left. I then got a Citibank personal loan pre-approval in the mail,.... I took the money (which I was going to pay off the credit cards) and bought some watches.

I bought the following pieces (i paid about $20K):-
Rolex 16233, 69173 (for the wife)
Breitling Navitimer
Cartier ladies Diablo
Omega Speedie

Since buying the watches (used) the market has crashed. The dealer I bought them from staid he is now selling very little.

I owe $60k excluding the home loan.

When do you think the market will come good again?
Honda Guy -

I think you have 2 distinct issues here. To begin with, it sounds as though your spending may have been out of control in proportion to what you were earning (regardless of "the market crashing"). After all, you list 4 expensive watches you have purchased, while also indicating you earn middle class money and have numerous bills. Is this an isolated incident or a does it indicate a pattern of impulsive purchasing? I ask this because you also mentioned you obtained a Citibank card to pay off your debts, but again got sidetracked by immediate gratification and purchased something you did not need and could not afford.

Second, while it is good that you have decided to "come clean," the most important person to share this situation with is your wife. These decisions you made have affected her, your relationship and you need to face the proverbial music. If you feel you have a pattern of impulsive behaviors that is damaging your life and self-esteem, you might want to reach out for professional help to get on the right track (IMHO). I wish you well, Honda Guy.
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Old 27 December 2008, 08:02 AM   #9
Welshwatchman
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Closed due to Honda Guy being an alias of a known Troll.
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