Quote:
Originally Posted by Sliver
I did. An overpriced ring is not a good purchase. There are two separate issues here. The first is the fact that the retail price of a diamond wedding ring is artificially inflated by diamond producers and marketers for gigantic profit margins. That makes buying one stupid no matter how much money you have.
The second issue is affordability. A lot of people are duped into buying these over-priced trinkets that can't afford them. That's really stupid.
If you are wealthy and can afford an overpriced ring, then by all means it's your right to spend your money poorly if you wish. If you are not wealthy and cannot afford to buy an expensive ring, then under no circumstances should you do so.
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I would like to know your thoughts on Weddings and wedding photographers as well.
I'm asking this seriously, because I think wedding photographers are way overpriced. But I still had to get it done for my wedding. I had to get it done because it was what my wife wanted and it made her happy to have high quality photos.
Same with the wedding, instant markup for everything when you say "wedding" and append it to a word. Same thing here, I shook my head in sadness and disgust at some of the costs, but I had to get it done because my wife wanted it and it made her happy.
The engagement ring, I wanted to purchase for her. I spent within my means, and looked for the best deal for the diamond that I wanted. She was ecstatic with the ring.
Do I think any of these things were a poor way of spending money? No, because it was something that we could afford and it made her happy.
I congratulate all the lucky husbands that have wives that have different priorities that enable them to not spend money on "poor" purchases. Unfortunately or fortunately, my wife is not wired that way.
I agree with you that spending beyond your means for luxuries is incredibly stupid, but I don't agree with you saying all luxury purchases is a "poor" purchase even if you can afford it.