How do you save for the next one?

[AAP8]

I know that I am not the only "Average Joe" on TRF, for me a Rolex is a luxury purchase, while not impossible to obtain, not something that I can just wake up and purchase.

So how do you budget for your WIS purchases? I know that I put about $150/month into a WIS fund, and then 1-off income into it as well for my next purchase, it takes time, 2 years or so per purchase, but it works ...

How do you budget for your next purchase? Are you just that rich that you do not blink? Do you save $X/month? Do you only spend your bonus?

Not trying to be nosy, just looking for ideas on how to budget for this obsession.

[clarencek]

I eat instant noodles for a month... Kind of.
Basically if I see something I like, I cut my expenses and save. But I don't do it consistently. Some times it takes a month or two. Other times it's just a few weeks. Usually I'm just browsing though.
And yes, when I get my bonus I usually pick up one piece.

[TCTC]

my strategy was to get married for 20 years and get one for our 20th anniversary! Some might say that I paid more than MSRP!

[mboverst]

Originally Posted by TCTC

my strategy was to get married for 20 years and get one for our 20th anniversary! Some might say that I paid more than MSRP!

Haha, 1 Rolex and all it cost you was 200 pairs of shoes and 50 purses!

[nGage7962]

25 years for me... Feeling ripped off now.

[lortap]

Originally Posted by TCTC

my strategy was to get married for 20 years and get one for our 20th anniversary! Some might say that I paid more than MSRP!

Man, you could have had one of each model by then

[evilfij]

I don't buy anything I have to worry about the price on. I sleep better at night that way. At least with a rolex, you can get most of your money back if you fall on hard times.

So, to answer your question, I allocate my disposable income and if I have money to burn, I spend it. So basically the same as you, the only difference is that what I consider a cost is the net cost between purchase and a forced sale at a discount plus the cost of capital. Ie a 10k watch is 2k (what I lose on a forced sale) + $225/year (2.25% is my current cost of capital).

Make sense? Probably only to me. ;-)

[JIFF1975]

I am in sales. And when I get my bonus I put it in the bank.

[jamesbondOO7]

I don't plan a purchase like that in advance. When I feel I can afford it, I buy. I always have that amount of money (fortunately a lot more) available, but it does not mean it should be spent.

[blackmsport]

1/ don't buy junk stuff
2/ stop eating out
3/ drink beer at home instead of at expensive bars
4/ bring lunch to work
5/ look for bargain here or TZ

[Gharddog03]

Originally Posted by blackmsport

1/ don't buy junk stuff
2/ stop eating out
3/ drink beer at home instead of at expensive bars
4/ bring lunch to work
5/ look for bargain here or TZ

Exactly. Eating out will kill you.

[evilfij]

Originally Posted by Gharddog03

Exactly. Eating out will kill you.

But it does give you a nice chance to wear your watch.

[spyderco10]

no special method here. order of my cash flow:
1. tithes and donations
2. max out retirement savings
3. pay expenses
4. save whatever's left over
5. dip into savings for toys when the need or desire arises

[colpol]

Always been a believer cutting out all the financial crap\ wastage & concentrate on whats important

I was always the first guy to put his hand up when any work OT offered or looking for someone in at the weekend. Always bring my lunch into work, don't buy expensive coffee's from starbucks, don't drink to excess, use my bicycle for excercise, some weights in house, get stairs at work, etc rather than joining some fancy gym. Use ebay a lot now for stuff I no longer need.

I'd label myself as an "ordinary guy" when it comes to talking about income but always a believer in making every penny count.

[htc8p]

but i love eating out!

as long as i have bought and furnished our new house. i will reward with a new watch.

saving strategy: i dont buy anything else except food, replacing clothes, bills

[Puffy]

i spreadbet or day trade

[lobsta]

Credit Card.

Prioritize. If a new watch is something you are willing to make sacrifices for, you will find a way to pay for it.

[theloxmyth]

Originally Posted by lortap

Man, you could have had one of each model by then

Women or watches?

[poker]

no hard and fast rule... just save and so long you are not putting yourself in a financial dilema with the acquisition(s), i think it's ok.

[buke45]

I only buy them Pre-loved at a great price so i see it as a way of investing also so whenever I see something I like at a good price I buy it.

[astar]

spent tooo much money on keeping women happy over the years, my view now is time to treat myself.
also belive if you really want something bad enough,obviously within reason, you manage to find the money,work harder etc,buy & sell things etc.become more focused,that way you appreciate your possesion(s) more.

[BeekerMuppet]

1) Cut expenses
2) Save up every extra bit of money

[landroverking]

Right I am selling off enough watches to fund or justify my next Daytona.

[globalmedia33]

save and buy.

[britincali]

I get a separate alarm bonus check every month that I stash in a separate account, its normally from $400 to $900. They add up pretty quick :)

And because it doesn't hit our regular checking account it doesn't hurt me or the wife :)

[AAP8]

Originally Posted by britincali

I get a separate alarm bonus check every month that I stash in a separate account, its normally from $400 to $900. They add up pretty quick :)

And because it doesn't hit our regular checking account it doesn't hurt me or the wife :)

$400-$900 per month in bonus's ... I think I need to work where you work.

[dooder202]

Originally Posted by AAP8

$400-$900 per month in bonus's ... I think I need to work where you work.

[Oyster1982]

I usually save on:
1. Not eating out as much.
2. Cutting non essential expenses.
3. Staying over at my moms house 3 days/week to save gas commuting to work.
4. Smoking cheaper cigars, no Ashtons or Cohibas, just cheap $1.75 Thompson Bohio's.

After a while this becomes normal and you no longer feel like your making a sacrifice.

[acce1999]

Originally Posted by evilfij

I don't buy anything I have to worry about the price on. I sleep better at night that way. At least with a rolex, you can get most of your money back if you fall on hard times.

So, to answer your question, I allocate my disposable income and if I have money to burn, I spend it. So basically the same as you, the only difference is that what I consider a cost is the net cost between purchase and a forced sale at a discount plus the cost of capital. Ie a 10k watch is 2k (what I lose on a forced sale) + $225/year (2.25% is my current cost of capital).

Make sense? Probably only to me. ;-)

Makes sense. This how I think about things. In most cases.

BTW: I saw that you registered on TRF this month, so welcome!

Best,

A

[acce1999]

Originally Posted by jamesbondOO7

I don't plan a purchase like that in advance. When I feel I can afford it, I buy. I always have that amount of money (fortunately a lot more) available, but it does not mean it should be spent.

Good thinking.