@cengland0 But buying a house or a (working) car always involves a lot of money. I think that you are saying that it may not be too much money or and unexpected amount of money. It may even be a good deal. But I think that something feels like “a lot of money” based on what else you can do with that quantity of money, not based on how much that one thing you are now considering may cost. So “feels like a lot of money” should therefore be constant. That’s my 2 cents (which is never a lot of money, unless you’re a first century Hebrew widow).
Another “impossible to answer” answer, especially since thrift shopping has gotten me accustomed to really low prices. Meh could sell a Dyson for $50 tomorrow and I’d still think it’s too much since both the ones I currently have were less than that. Combined. With enough left for a new catshirt from catshirtswoot.
@narfcake I really really wish there were thrift stores in my area (there is one but it has no parking anywhere within five or more blocks and has been extremely disappointing the few times I’ve been there).
Tho based on @DaveKnowsAll’s answer, I could see changing mine to $50 or $100, except that those choices don’t include the whole PITA thing which is really more important than the dollar amount.
A $3 candy bar or a pair of jeans over $35 would be too much money. However, a $600 down 2 lb 0° sleeping bag and/or $500+ Jeep part is reasonable. It all depends on your perspective.
@PyxienTX This was a discussion I was in decades ago with coworkers. One said he was looking at new cars. He really preferred an upgrade package with a better sounding audio system that added about $500 to the overall price. He took it without a lot of thought, because what’s $500 tacked on to $20k? Then he got home, looked at his $500 audio system, and asked himself if he would have paid twice that to get slightly better speakers.
It’s all relative. As Senator Everett Dirksen probably didn’t actually say about the federal budget: "A billion here, a billion there, and pretty soon you’re talking about real money."
@rockblossom I did that with my last Jeep purchase (upgraded the radio), but it was with forethought and the understanding that Jeep stereo systems suck. It was actually cheaper to go with the upgraded factory version versus aftermarket with the same features. Plus, at 70 miles per hour with the doors and top off, it wouldn’t matter if you had an old 8-track deck. You can’t hear it.
It is all relative based on your needs, bank account and wants.
But my comfort when backpacking in cold weather (I’m from Texas, so anything lower than 70°) was well worth the money. Plus, I weigh 106 lbs, and my loaded pack is currently 20 lbs with enough food for 4-5 days. I have had the 4 lb sleeping bag and 4 lb tent. It sucks to hike with that weight (25 lbs) for longer than about 10-15 miles.
@PyxienTX Sellers of cars (and lately, real estate) emphasize the monthly payments because that’s what they want buyers to focus on when they should be looking at total cost. A $500 upgrade actually costs the additional $500 plus compounded interest over the life of the loan at whatever rate you pay. People spend an inordinate amount of time negotiating down the asking price while ignoring the interest rate on the loan.
@rockblossom I do realize I am not like most. I look at the total cost vs. value and use. And I never ignore interest rates and loan length. This and ttl makes up a large portion of your monthly payment.
That sales tactic only works if you finance and refuse to see the whole picture. However, I would like to point out - that’s how we ended up in the housing crises. While it doesn’t apply to cars at this moment, with the cost skyrocketing and finance terms at 7 years this may be. People are trading in their cars more often and left with a significant deficit if they don’t look at the total cost.
@PyxienTX A few years ago, when my friend was buying his car, he overheard what was going on in the next cubicle. The individual was looking to trade in their current car, which was a Sentra … that they owed $35k on.
The banks created the housing mess with all the interest-only, negative amortization crap. With the average car loan nearing 6 years now – and many 7+ year loans, looks like they’ll be creating a mess in the automotive sector with these antics too.
@narfcake Unfortunately it isn’t just a bank issue. It is a people issue. People who sign any kind of contract agree with the terms.
I do not condone what the banking industry did, but the real problem was 3 fold, not just one. 1. People, 2. Banks, 3. Gov interference with the loan process. I think it all comes down to personal responsibility. My mother taught me “If it sounds too good to be true, it probably is” and “Nothing in life is free or fair”.
@narfcake@PyxienTX The big difference is that generally (not for all time periods & not 100%) housing/real estate is an asset that holds or increases in value. The mess happened when that asset bubble burst and securities (oxymoron in this case) based on those values collapsed. Investment ‘bank’ managers (as opposed to lenders) had created a leveraged situation where a relatively small drop in real estate values started a domino effect of falling equity.
Since cars are almost always assets that are declining in value, there’s little incentive to bundle auto loans as an investment (the underlying equity loses ~60% in 5yr).
For me I wasn’t thinking of it as being related to good/bad deal part, and more how much general anxiety would I feel over it. Things like cars and houses are such large amounts its often more comfortable reducing them to the monthly payment as easier way to rationalize the number say 300/mo car 800/mo mortgage etc. So for me any amount that encroaches on that level feels “big”. It may be a killer deal for what it is, but is still moving into the “damn that’s like a car payment” realm of reasoning which becomes big.
People are stating the obvious when they say it depends on the item, but in that light , any amount of money can be a “lot” ($10 is a lot of money for a piece of gum). I tried to think of it in less relative terms. First, I thought, what if a family member asked to borrow X amount from me or what if I won that amount in a raffle, but even those amounts seemed relative.
Ultimately, I decided: what’s the dollar figure where I will research and do comparison shopping as opposed to just buying the item if I need it. Still not perfect, but less pedantic.
When hubby and I got married (>25 yrs, yippee!!) we agreed any purchase $75 or more had to be discussed prior but anything else was okay to buy then discuss when checking budget. Over time that increased to $150.
But we just declared bankruptcy this year (started a business w our lifesavings AND bank loan AND brick-mortar 7 yr lease but it drained us in <2 years despite heroics by hubby) so had to self-declare to keep bank and landlord from coming after us personally(we had lawyer & acct advise us on setting up and running business separate from personal life so that saved us from more creditors, but bank and landlord wouldn’t sign with personal guarantees) Still lost house, car, etc but we’re okay starting from $0 with horrible credit for 10 years rather than -$x00K) so now it’s $20 until we both have jobs and therefore enough to cover rent/food/etc that still need paying (our teen sons break the food budget daily) much less start to rebuild savings.
@mollama
A relative who was doing pretty well ran a business for a while. He wasn’t even the main owner. But he was the CEO, and he did some personal guarantees on some debts. The biz, which had a decade of success first, fell apart in a bad economy, and his family went thru bankruptcy.
@mollama I get you and applaud your upbeat, can-do approach. “I’m not worthy” - Wayne, SNL. We invested in 3 vacation rental condos from 1993 - 2003. Very tight, but it worked - rent in, mortgage-utilities-insurance-repairs-HOAfees out. No $ for us, but our pot o’ gold was gonna be when we sold. When the Great (Great - really? How 'bout Awful, Devastating, etc w/the approp adjective beginning w/F) Recession hit, the reservations we had cxld, and no more came in. After blowing thru all our savings incl 401k (wouldn’t have had to do that, but we tried to outrun it) they all foreclosed. We’re wkg w/our lawyer and accountant now to determine the next step. Lesson learned: invest in ‘need to haves’ not ‘nice to haves’. A vacation is a ‘nice’ not a ‘need’. My husband says I’ll feel better when it’s resolved (like he’s decided he will). Retirement looms. Paul Ryan just said he’s gonna privatize Medicare. SocSec??? I checked PIA cuz I read “how much is too much ‘disposable’ money?” of which I ain’t got any. Yet I bought the Xpress Platinum and food freezer bags on Meh. Go figure. Best of luck to you both, thanks for offering a great attitude in response to your situation.
Anything in the $0-$10 range is eligible for a no-thought impulse buy. $10-$20 is where I’ll stop for a second to see if I can think of a time I’ll use it. $20-$50 involves more thought, and some justification. $50-$100 has to be something I’ll use regularly, and for which I have a current need. I VERY rarely make a purchase over $100 without giving it a minimum of 1 day’s consideration, and often more.
Meh’s sweet spot in my wallet is in the $1-20 range.
edit: Took a quick look at my order history. I’ve purchased approximately 6 items over $20. 4 of them were in the $20-$25 range, and 3 of those were twofer tuesday items.
Depends. $1000 is not a lot of money for a house or a car but it is if you’re buying a computer mouse. It’s all relative to what you’re purchasing.
@cengland0 But buying a house or a (working) car always involves a lot of money. I think that you are saying that it may not be too much money or and unexpected amount of money. It may even be a good deal. But I think that something feels like “a lot of money” based on what else you can do with that quantity of money, not based on how much that one thing you are now considering may cost. So “feels like a lot of money” should therefore be constant. That’s my 2 cents (which is never a lot of money, unless you’re a first century Hebrew widow).
you era a pedantic pain in the ass. they mean how much are you willing to lose without to much pain/distress.(and no it is not 1$, don’t lie)
@MosheSamuels ure sepling es hoarable
I definitely enjoy being a pedantic pain in the ass. For once an option right for me. Well done, Meh!
Another “impossible to answer” answer, especially since thrift shopping has gotten me accustomed to really low prices. Meh could sell a Dyson for $50 tomorrow and I’d still think it’s too much since both the ones I currently have were less than that. Combined. With enough left for a new catshirt from catshirtswoot.
@narfcake I really really wish there were thrift stores in my area (there is one but it has no parking anywhere within five or more blocks and has been extremely disappointing the few times I’ve been there).
@narfcake and I thought getting the $600 Dyson for $350 was a deal. I didn’t buy it though. Was a house warming gift, so essentially it was free…
@cengland0 @DaveKnowsAll @serpent @narfcake So y’all chose pain in the ass for your answer?
@sligett Me five.
Tho based on @DaveKnowsAll’s answer, I could see changing mine to $50 or $100, except that those choices don’t include the whole PITA thing which is really more important than the dollar amount.
@sligett
A Meh specialty.
/giphy PITA
I’m not sure, because I have never had a lot of money, but when I start to feel like I have a lot of money, I will let you know.
$1. What can I say, I’m a tightwad.
When it’s “a lot” and it’s not mine.
Anything over a $20 and i start to have an anxiety attack…albeit a small one
A $3 candy bar or a pair of jeans over $35 would be too much money. However, a $600 down 2 lb 0° sleeping bag and/or $500+ Jeep part is reasonable. It all depends on your perspective.
@PyxienTX This was a discussion I was in decades ago with coworkers. One said he was looking at new cars. He really preferred an upgrade package with a better sounding audio system that added about $500 to the overall price. He took it without a lot of thought, because what’s $500 tacked on to $20k? Then he got home, looked at his $500 audio system, and asked himself if he would have paid twice that to get slightly better speakers.
It’s all relative. As Senator Everett Dirksen probably didn’t actually say about the federal budget: "A billion here, a billion there, and pretty soon you’re talking about real money."
@rockblossom I did that with my last Jeep purchase (upgraded the radio), but it was with forethought and the understanding that Jeep stereo systems suck. It was actually cheaper to go with the upgraded factory version versus aftermarket with the same features. Plus, at 70 miles per hour with the doors and top off, it wouldn’t matter if you had an old 8-track deck. You can’t hear it.
It is all relative based on your needs, bank account and wants.
@PyxienTX Holy mackerel, you are buying a sleeping bag on an installment plan? ($600 down)
@DrWorm Actually, it was closer to $700.
But my comfort when backpacking in cold weather (I’m from Texas, so anything lower than 70°) was well worth the money. Plus, I weigh 106 lbs, and my loaded pack is currently 20 lbs with enough food for 4-5 days. I have had the 4 lb sleeping bag and 4 lb tent. It sucks to hike with that weight (25 lbs) for longer than about 10-15 miles.
@PyxienTX Sellers of cars (and lately, real estate) emphasize the monthly payments because that’s what they want buyers to focus on when they should be looking at total cost. A $500 upgrade actually costs the additional $500 plus compounded interest over the life of the loan at whatever rate you pay. People spend an inordinate amount of time negotiating down the asking price while ignoring the interest rate on the loan.
@rockblossom I do realize I am not like most. I look at the total cost vs. value and use. And I never ignore interest rates and loan length. This and ttl makes up a large portion of your monthly payment.
That sales tactic only works if you finance and refuse to see the whole picture. However, I would like to point out - that’s how we ended up in the housing crises. While it doesn’t apply to cars at this moment, with the cost skyrocketing and finance terms at 7 years this may be. People are trading in their cars more often and left with a significant deficit if they don’t look at the total cost.
@PyxienTX A few years ago, when my friend was buying his car, he overheard what was going on in the next cubicle. The individual was looking to trade in their current car, which was a Sentra … that they owed $35k on.
The banks created the housing mess with all the interest-only, negative amortization crap. With the average car loan nearing 6 years now – and many 7+ year loans, looks like they’ll be creating a mess in the automotive sector with these antics too.
@narfcake Unfortunately it isn’t just a bank issue. It is a people issue. People who sign any kind of contract agree with the terms.
I do not condone what the banking industry did, but the real problem was 3 fold, not just one. 1. People, 2. Banks, 3. Gov interference with the loan process. I think it all comes down to personal responsibility. My mother taught me “If it sounds too good to be true, it probably is” and “Nothing in life is free or fair”.
@narfcake @PyxienTX The big difference is that generally (not for all time periods & not 100%) housing/real estate is an asset that holds or increases in value. The mess happened when that asset bubble burst and securities (oxymoron in this case) based on those values collapsed. Investment ‘bank’ managers (as opposed to lenders) had created a leveraged situation where a relatively small drop in real estate values started a domino effect of falling equity.
Since cars are almost always assets that are declining in value, there’s little incentive to bundle auto loans as an investment (the underlying equity loses ~60% in 5yr).
it means how much will you take a walk back to the mall to find (no it is not 5$)
For me I wasn’t thinking of it as being related to good/bad deal part, and more how much general anxiety would I feel over it. Things like cars and houses are such large amounts its often more comfortable reducing them to the monthly payment as easier way to rationalize the number say 300/mo car 800/mo mortgage etc. So for me any amount that encroaches on that level feels “big”. It may be a killer deal for what it is, but is still moving into the “damn that’s like a car payment” realm of reasoning which becomes big.
People are stating the obvious when they say it depends on the item, but in that light , any amount of money can be a “lot” ($10 is a lot of money for a piece of gum). I tried to think of it in less relative terms. First, I thought, what if a family member asked to borrow X amount from me or what if I won that amount in a raffle, but even those amounts seemed relative.
Ultimately, I decided: what’s the dollar figure where I will research and do comparison shopping as opposed to just buying the item if I need it. Still not perfect, but less pedantic.
When hubby and I got married (>25 yrs, yippee!!) we agreed any purchase $75 or more had to be discussed prior but anything else was okay to buy then discuss when checking budget. Over time that increased to $150.
But we just declared bankruptcy this year (started a business w our lifesavings AND bank loan AND brick-mortar 7 yr lease but it drained us in <2 years despite heroics by hubby) so had to self-declare to keep bank and landlord from coming after us personally(we had lawyer & acct advise us on setting up and running business separate from personal life so that saved us from more creditors, but bank and landlord wouldn’t sign with personal guarantees) Still lost house, car, etc but we’re okay starting from $0 with horrible credit for 10 years rather than -$x00K) so now it’s $20 until we both have jobs and therefore enough to cover rent/food/etc that still need paying (our teen sons break the food budget daily) much less start to rebuild savings.
@mollama
A relative who was doing pretty well ran a business for a while. He wasn’t even the main owner. But he was the CEO, and he did some personal guarantees on some debts. The biz, which had a decade of success first, fell apart in a bad economy, and his family went thru bankruptcy.
He managed to come back. I hope you can also.
@mollama I get you and applaud your upbeat, can-do approach. “I’m not worthy” - Wayne, SNL. We invested in 3 vacation rental condos from 1993 - 2003. Very tight, but it worked - rent in, mortgage-utilities-insurance-repairs-HOAfees out. No $ for us, but our pot o’ gold was gonna be when we sold. When the Great (Great - really? How 'bout Awful, Devastating, etc w/the approp adjective beginning w/F) Recession hit, the reservations we had cxld, and no more came in. After blowing thru all our savings incl 401k (wouldn’t have had to do that, but we tried to outrun it) they all foreclosed. We’re wkg w/our lawyer and accountant now to determine the next step. Lesson learned: invest in ‘need to haves’ not ‘nice to haves’. A vacation is a ‘nice’ not a ‘need’. My husband says I’ll feel better when it’s resolved (like he’s decided he will). Retirement looms. Paul Ryan just said he’s gonna privatize Medicare. SocSec??? I checked PIA cuz I read “how much is too much ‘disposable’ money?” of which I ain’t got any. Yet I bought the Xpress Platinum and food freezer bags on Meh. Go figure. Best of luck to you both, thanks for offering a great attitude in response to your situation.
I just know I’m gonna have this in my head all day.
It doesn’t feel like a lot of money until there’s an interest rate attached.
Anything in the $0-$10 range is eligible for a no-thought impulse buy. $10-$20 is where I’ll stop for a second to see if I can think of a time I’ll use it. $20-$50 involves more thought, and some justification. $50-$100 has to be something I’ll use regularly, and for which I have a current need. I VERY rarely make a purchase over $100 without giving it a minimum of 1 day’s consideration, and often more.
Meh’s sweet spot in my wallet is in the $1-20 range.
edit: Took a quick look at my order history. I’ve purchased approximately 6 items over $20. 4 of them were in the $20-$25 range, and 3 of those were twofer tuesday items.
I think “a lot of money” becomes a higher and higher amount the more money you make.
In college, $1000 was “a lot of money”.
Now I’m an engineer. Presently, I’d say that $500,000 is “a lot of money”.
Depends on whether I’m buying for myself, or for family.
Oh I don’t know… I got a small loan of a million dollars from my Dad once…