How do you stop yourself from spending money on toys? - Page 7
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Thread: How do you stop yourself from spending money on toys?

  1. #61
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    That's ridiculous that they force you to pay the full rate on 3 separate bikes. You can't ride all 3 at once. I can see theft coverage on all 3, but the liability at least should go with the driver and not the vehicle. We Canadians really get hosed when it comes to insurance. They're making insane profits off us. I wonder which companies I should invest in to get in on some of those profits.


  2. #62
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    Quote Originally Posted by Earl View Post
    That's ridiculous that they force you to pay the full rate on 3 separate bikes. You can't ride all 3 at once. I can see theft coverage on all 3, but the liability at least should go with the driver and not the vehicle. We Canadians really get hosed when it comes to insurance. They're making insane profits off us. I wonder which companies I should invest in to get in on some of those profits.
    Government insurance in BC - ICBC - works the same way. Years ago I used to keep an old truck on an island where I spent every other weekend away from Vancouver. The idea was that I would have a vehicle there and not have to take my car on the ferry each weekend in order to have a vehicle on the island. I just kept the statutory minimum of liability coverage. It then cost about $500/yr. I probably drove that truck about 300 miles a year. Well over a dollar a mile for limited coverage. I finally stopped doing it and went back to paying to take my car on the ferry.

    Like you, I thought it would be sensible if the liability coverage followed me. I can accept having to pay for each vehicle if you want each covered for theft, etc. I was quite willing to be on the policy as sole driver, so the policy would be void if I loaned the vehicle. But no. It had to be full coverage for however many I owned if I wanted to be able to drive them, even though, as you say, you can only drive one at a time.

  3. #63
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    The one thing that really helped me refrain from buying toys was a paradigm shift in my image of what having wealth looks like.

    The youth of today (I'm 24 btw) are obsessed with appearing rich but haven't really thought much of actually being truly rich.
    I'm not saying this is OPs problem, I'm just stating what really helped me not care for fancy cars and what not. Oh and by the way, I'm a true petrolhead, car fanatic.

    Now days, when I see a bimmer/audi/benz drive by, I just think "hah. I wonder how broke that guy/girl is". Because really, 9/10 times they probably lease/loan it and have nothing in savings.
    And then, not to be stereotypical/racist, but when I see an old asian man/woman driving a brand new Toyota I think "Wow. They probably have millions". Because lets be real, they might not have a million but they definitely have sizeable savings.

    Think about it. 2% of Canadians make $200k+/year. Lower end BMWs will cost like $35k.
    But way more than 2% of. cars on the road are bmw/benz/audi/lexus/infiniti/etc. Wonder where all that $$ came from? Debt obviously.

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  5. #64
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    Quote Originally Posted by humble_pie View Post
    there are some highly refreshing quotes in this thread, the kind that make a stumbler-upon Laugh Out Loud .eac

    .
    Living in the city many of my friends have never shot a gun before. Making a day out of going to the gun range is exactly what I described. Glad I could provide you with a laugh though

  6. #65
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    Quote Originally Posted by trance.god View Post
    Think about it. 2% of Canadians make $200k+/year. Lower end BMWs will cost like $35k.
    But way more than 2% of. cars on the road are bmw/benz/audi/lexus/infiniti/etc. Wonder where all that $$ came from? Debt obviously.
    Although I do agree with you overall people overextend themselves, I bought what I consider a pinnacle BMW in prime condition for under $30k CAD and actually made money on the sale (one of the best resale besides Porsche 911, but also thanks to luck with currency exchange)

    Buying a new vehicle is never a wise financial decision whether it's Toyota or BMW imho. There are people who claim 0% makes a better deal than used.. it's not, the financing cost is baked in and if you don't have cash you shouldn't be buying it.. but I digress

    A colleague drives a brand new Jeep Cherokee Trailhawk ($50k SUV?) and drove a brand new Jeep Wrangler Rubicon before that ($$?) He's mentioned a few times he doesn't have a downpayment for a house or room on his Visa while I drive used sports cars on the same salary and save half of it

    An entry level BMW is not that far from an entry level Honda. Audi/Lexus/Infiniti I can see as those are premium brands of VW/Toyota/Nissan. Used luxury cars can actually be found for stellar deals because the majority want either a new luxury car or a beater used one..
    amat victoria curam

  7. #66
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    Quote Originally Posted by m3s View Post
    Although I do agree with you overall people overextend themselves, I bought what I consider a pinnacle BMW in prime condition for under $30k CAD and actually made money on the sale (one of the best resale besides Porsche 911, but also thanks to luck with currency exchange)

    Buying a new vehicle is never a wise financial decision whether it's Toyota or BMW imho. There are people who claim 0% makes a better deal than used.. it's not, the financing cost is baked in and if you don't have cash you shouldn't be buying it.. but I digress

    A colleague drives a brand new Jeep Cherokee Trailhawk ($50k SUV?) and drove a brand new Jeep Wrangler Rubicon before that ($$?) He's mentioned a few times he doesn't have a downpayment for a house or room on his Visa while I drive used sports cars on the same salary and save half of it

    An entry level BMW is not that far from an entry level Honda. Audi/Lexus/Infiniti I can see as those are premium brands of VW/Toyota/Nissan. Used luxury cars can actually be found for stellar deals because the majority want either a new luxury car or a beater used one..
    Agreed. Used luxury is the way to go. You get the good performance, ~10 year old luxury cars still turn heads, AND they hold their value well. When I sell my Infiniti in about 2 years I will probably break even or lose 1k at most. People think you're rolling in dough when they see you in a Benz... little do they know it's a 2008 paid for in cash for half the price of their brand new Camry

  8. #67
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    Quote Originally Posted by m3s View Post
    Buying a new vehicle is never a wise financial decision whether it's Toyota or BMW imho. There are people who claim 0% makes a better deal than used.. it's not, the financing cost is baked in and if you don't have cash you shouldn't be buying it.. but I digress


    An entry level BMW is not that far from an entry level Honda. Audi/Lexus/Infiniti I can see as those are premium brands of VW/Toyota/Nissan. Used luxury cars can actually be found for stellar deals because the majority want either a new luxury car or a beater used one..
    Quote Originally Posted by DollaWine View Post
    Agreed. Used luxury is the way to go. You get the good performance, ~10 year old luxury cars still turn heads, AND they hold their value well. When I sell my Infiniti in about 2 years I will probably break even or lose 1k at most. People think you're rolling in dough when they see you in a Benz... little do they know it's a 2008 paid for in cash for half the price of their brand new Camry


    Sorry, I forgot to mention-- I'm not suggesting buying a brand new Japanese non-premium car. I'm suggesting forever buying a 2-3 year old, 50-100km, toyota/honda. Because reliability, relatively cheap, holds it's value, cheap to repair on the rare occasion that it needs repairs. I just meant that, when I see an asian man driving a brand new Toyota, it occurs to me that, he probably has a ton of money if he is buying a brand new.

    I honestly cannot justify spending $400 to change a headlight because BMW decided the entire headlight had to be removed and replaced , instead of just changing a bulb. At least not until the cost of the vehicle + cost of maintenance over the it's life is less than, say 10% of my income.

    I get it though. Passion, thrill, ego, etc. But really, it just isn't worth it in the long run, especially not for a 24 year old like myself.
    I'd rather invest my savings and watch that grow than drive around an unreliable, high priced, expensive to repair, depreciating asset.

    Related rant: The biggest scam of the 20th century is probably the trope "German Engineering". People have it equated to "Superior/Advanced Engineering" in their minds. Everyone thinks they ooze of engineering marvel. But in reality, some German mechanical products are best in class, top of the world (think: heavy machinery, industrial equipment, etc), but consumer vehicles are definitely not. Now days when I see German car drive by, I think "beautiful shitbox". Beautiful they are, no doubt about it. Shitbox they usually are, especially after 100,000km, no doubt about it.
    Last edited by trance.god; 2017-02-27 at 09:44 PM.

  9. #68
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    Quote Originally Posted by trance.god View Post
    I honestly cannot justify spending $400 to change a headlight because BMW decided the entire headlight had to be removed and replaced , instead of just changing a bulb. At least not until the cost of the vehicle + cost of maintenance over the it's life is less than, say 10% of my income.

    I get it though. Passion, thrill, ego, etc. But really, it just isn't worth it in the long run, especially not for a 24 year old like myself.
    I'd rather invest my savings and watch that grow than drive around a unreliable, high priced, expensive to repair, depreciating asset.

    Related rant: The biggest scam of the 20th century is probably the trope "German Engineering". People have it equated to "Superior/Advanced Engineering". Some German mechanical products are amazing (especially industrial equipment), but consumer vehicles is definitely not one of them.
    Do you mean LED headlights?.. because Japanese cars use LEDs nowadays too.. don't they all? I don't have any experience with them but I see them on just about all new vehicles regardless of brand. They are supposed to be much brighter, use less power, and last much longer. $400 = 4 fake "ultra" halogen bulbs from crappy tire (huge scam in NA btw)

    BMW sells entry level vehicles that are comparable to other brands entry level vehicles and they also sell performance vehicles that are inherently less reliable like all performance vehicles are inherently less reliable because sports car. BMW is a mainstream brand in Europe like Ford in NA. An Escort and a GT40 are both Fords.. blanket statements are just that

    Germany is very wealthy today because their intellectual property is built into just about everything.. German engineering is very good, as is Japanese engineering, American engineering, Russian engineering. I've owned 3 BMWs and all were extremely well designed and reliable. I wouldn't recommend them to someone who sees a vehicle as its badge though
    Last edited by m3s; 2017-02-27 at 10:28 PM.
    amat victoria curam

  10. #69
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    I have the opposite problem of the OP. After I deduct my savings, vacation pay and debt repayment, I give myself 10% of the remainder as "fun" money to do with as I please.

    I'm currently sitting on about $1000, since I haven't spent a penny on my hobbies or myself in about 8 months. There's plenty of things that I want (a new smoker would be nice, or that scope for my rifle I've been wanting...) but I just can't bring myself to spend the money. Budgeting and saving has really turned me into a miser. "Sure, I could spend $600 of my fun money. But then I won't have that $600 if something else I want comes along..." CRAP!! LOL

  11. #70
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    Quote Originally Posted by m3s View Post
    Do you mean LED headlights?.. because Japanese cars use LEDs nowadays too.. don't they all? I don't have any experience with them but I see them on just about all new vehicles regardless of brand. They are supposed to be much brighter, use less power, and last much longer. $400 = 4 fake "ultra" halogen bulbs from crappy tire (huge scam in NA btw)

    BMW sells entry level vehicles that are comparable to other brands entry level vehicles and they also sell performance vehicles that are inherently less reliable like all performance vehicles are inherently less reliable because sports car. BMW is a mainstream brand in Europe like Ford in NA. An Escort and a GT40 are both Fords.. blanket statements are just that

    Germany is very wealthy today because their intellectual property is built into just about everything.. German engineering is very good, as is Japanese engineering, American engineering, Russian engineering. I've owned 3 BMWs and all were extremely well designed and reliable. I wouldn't recommend them to someone who sees a vehicle as its badge though

    I know I'm a month late lol but:
    German engineering is great but German cars are not reliable. Reliability is not baked into the product; it just isn't a key design consideration.
    German cars are very well engineered (performance, handling, technology, etc) but reliability is oft the last consideration.

    Toyota(+most Japanese middle class brands) pride themselves in making a great product for not only the first owner, but even the second. Reliability is an inherent feature.


    Then there is the cost of maintenance. Even if German cars are exceptionally reliable and can butt heads with the Japanese, German cars generally much more expensive to maintain. Premium gas. $100 oil changes. exorbitant parts costs. etc.


    the light bulb I was referring to was from a friends experience (went from Toyota to BMW). In a Toyota, they changed the bulb for <30$. in the bmw they had to remove and replace the entire headlight- casing/bulb and all.
    This may no longer be the case but, the underlying problem has always been a typical German car issue: Want to fix the door locks? replace the door.


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