Share advice! The best way to waste money is...

[pearaffair]

- to constantly pay to have your rings resized
- to not know what you REALLY want, to buy and resell and buy again
- to have an insatiable bling addiction

Any advice to share? I’m so choked about how much I’ve paid to have rings resized. Why must I love platinum? LOL. And I’m obsessed with having my rings fit perfectly. It’s a “mind clean” thing. But gets really expensive!!

 

[pearaffair]

- to buy full-price from a “maul” store

 

[Dancing Fire]

Spending 5K on a custom ring and GF hate it after is finished.

 

[pearaffair]

Spending 5K on a custom ring and GF hate it after is finished.

Oooof! Yeah, for me, custom is a good way to throw money out the window, for sure!!

 

[Matilda]

Tough choices! Two and four I think. As for five, frustrating yes but it’s the thought and effort that counts!

 

[marcy]

Buying on impulse then leaving it in your jewelry box which is closely followed by custom which didn't turn out as you planned

 

[bludiva]

fwiw i think it might be worse to buy something you don't wear than to spend money resizing something you wear often

 

[LLJsmom]

Buying on impulse then leaving it in your jewelry box which is closely followed by custom which didn't turn out as you planned

Absolutely agree with @marcy Impulse buys are always my worst mistakes. If I haven’t wanted something for at least half a year, I usually regret buying it.

 

[cokitty]

Indecision.
Indecisive about your partner, divorce is not cheap.
Indecisive about your location, moving costs a fortune and your things always end up damaged. (Military brats grow up hearing 3 moves= a fire.)
Indecisive about your vehicle, trading them in will cost you.
Indecisive about your jewelry, swapping center stones, settings, wedding bands and more will all put a dent in your wallet.

 

[Doc_1]

Spending money on custom is unique and it is an event that happens seldom in lifetime unless you have lots of money that you do not know how to blow away, but after 10 years from having my wife a custom ring made by MM we are still talking about how we went through the adventure of buying a diamond that we did not see in person from GOG, keep looking at the videos of the diamond over and over, then how we sent it to MM that we do not know how he looks until now, then getting the ring back and posting hand shots on this forum, looking that thread over and over sometimes more than looking at the beautiful ring itself, and when my wife wears it with a big smile on her face each time it seems that this ring gets us closer and closer. It turned out it was the thoughts and effort more than the ring material components that stays in our memory. very unique experience indeed..!

 

[LLJsmom]

For me, not going for what you really want costs me more in the long run. Getting a substitute never works for me. That happens when I am impatient or trying to save money.

 

[pearaffair]

fwiw i think it might be worse to buy something you don't wear than to spend money resizing something you wear often

So true! But I’ve done such stupid resizes. Like size 5.5 to size 5. And size 4.75 to 4.5 and back to 4.75. Like really, If I don’t know my size, test it with a silver cheapie rather than resizing platinum!!! And if a ring almost fits, stack it with some bands that fit so that it’s all good (*shudder* not mind clean for me!!!). It could be worse but I truly have spent way too much money on resizing things.

For me, not going for what you really want costs me more in the long run. Getting a substitute never works for me. That happens when I am impatient or trying to save money.

Oh this is so true and such great advice! Who was it that suggested we should all “buy our last ring first”?

I have learned that sims are a waste of money for me because I never value them!!!

 

[MakingTheGrade]

Oh this is so true and such great advice! Who was it that suggested we should all “buy our last ring first”?

I have learned that sims are a waste of money for me because I never value them!!!

Sadly that advice doesn’t work for me because I love the process as much, if not more than, the physical end result. Don’t get me wrong, I love the piece after it’s made but before long I’m on the hunt for the next thing and dreaming up ways to set it.

I don’t consider it a waste of money though. As far as hobbies go this isn’t as expensive as when I used to oil paint since I do a disciplined job selling stuff I don’t wear whereas I could never sell my paintings (but quality paint and canvas is expensive!). Also a better value hobby than fine dining where I literally eat my profits. And definitely cheaper than golf!

 

[TreeScientist]

Indecision.
Indecisive about your partner, divorce is not cheap.
Indecisive about your location, moving costs a fortune and your things always end up damaged. (Military brats grow up hearing 3 moves= a fire.)
Indecisive about your vehicle, trading them in will cost you.
Indecisive about your jewelry, swapping center stones, settings, wedding bands and more will all put a dent in your wallet.

Excellent post, but I'll add a caveat:

Moving costs a fortune when you're indecisive about the possessions you want to keep when you move (aka unnecessary hoarding)

I actually lived in the same city my entire childhood, but have moved extensively since then, with a few of those moves being international. For me it has not been indecision. Just the nature of the job at the moment. But it really hasn't been all that expensive, as my belongings fit into 2-3 suitcases plus one box of books that I send book-rate mail (super-cheap but super-slow way to send books pretty much anywhere in the world).

I know quite a few people who have moved several times internationally. Single people or couples without families who don't really need that much stuff. Yet almost all of them have so much unnecessary crap that they never even use, yet lug halfway around the world at god only knows what shipping expense. I quickly realized after my first move that it makes absolutely no sense to keep anything that doesn't serve some useful purpose in my life. So now I only keep a minimal wardrobe of basic clothes+shoes (one suitcase), electronics/personal hygiene items/daily use items like water bottles (second suitcase), snowboard/boots in a bag (third suitcase), and books (in a box), and don't buy anything else other than some cheap IKEA/secondhand furniture and a cheap used bike when I get to my new destination (things that I can easily sell off again for exactly what I paid for them when I leave).

One day, when we settle down, buy a house, have a family, and think we're going to stay in a location for the foreseeable future, then I might start to accumulate a few more things. But at this point, I don't feel like spending thousands to ten of thousands of dollars to move my life around the globe.

 

[missy]

Any advice to share? I’m so choked about how much I’ve paid to have rings resized. Why must I love platinum? LOL. And I’m obsessed with having my rings fit perfectly. It’s a “mind clean” thing. But gets really expensive!!

I agree that if you love and wear it the price you pay to resize it is justified. PPW is what I go by to know if it is worth it for me...having said that could you size it just a bit bigger next time you have to resize (if there's a next time) and then just add one of those plastic rings around the band to make it fit and you can take away or add those plastic sizing rings as necessary to change the size in small amounts.

For me, not going for what you really want costs me more in the long run. Getting a substitute never works for me. That happens when I am impatient or trying to save money.

This is the number one way one can waste money. The words "A deal is a deal only if you are getting exactly what you want" are true for me.

Now the trick is knowing what one really wants and going for it and not substituting it with less expensive things along the way thinking it will satiate that desire. It won't. Getting exactly what you want is the surest bet in terms of satisfying that need and scratching that itch. Getting smaller baubles along the way won't make any meaningful impact IMO.




and of course you can look at it like this. Bling and cardio win win.

 

[Dee*Jay]

Attempting to scratch a big stone itch with a bunch of little(er) stones.

 

[ringbling17]

Absolutely agree with @marcy Impulse buys are always my worst mistakes. If I haven’t wanted something for at least half a year, I usually regret buying it.

Yes. This exactly. Although I have been pretty good lately. I haven’t bought anything since July!!!

 

[pearaffair]

Sadly that advice doesn’t work for me because I love the process as much, if not more than, the physical end result. Don’t get me wrong, I love the piece after it’s made but before long I’m on the hunt for the next thing and dreaming up ways to set it.

I don’t consider it a waste of money though. As far as hobbies go this isn’t as expensive as when I used to oil paint since I do a disciplined job selling stuff I don’t wear whereas I could never sell my paintings (but quality paint and canvas is expensive!). Also a better value hobby than fine dining where I literally eat my profits. And definitely cheaper than golf!

Omg yes fine dining doesn’t do it for me... and you can’t eat diamonds so it’s all good

Excellent post, but I'll add a caveat:

Moving costs a fortune when you're indecisive about the possessions you want to keep when you move (aka unnecessary hoarding)

I actually lived in the same city my entire childhood, but have moved extensively since then, with a few of those moves being international. For me it has not been indecision. Just the nature of the job at the moment. But it really hasn't been all that expensive, as my belongings fit into 2-3 suitcases plus one box of books that I send book-rate mail (super-cheap but super-slow way to send books pretty much anywhere in the world).

I know quite a few people who have moved several times internationally. Single people or couples without families who don't really need that much stuff. Yet almost all of them have so much unnecessary crap that they never even use, yet lug halfway around the world at god only knows what shipping expense. I quickly realized after my first move that it makes absolutely no sense to keep anything that doesn't serve some useful purpose in my life. So now I only keep a minimal wardrobe of basic clothes+shoes (one suitcase), electronics/personal hygiene items/daily use items like water bottles (second suitcase), snowboard/boots in a bag (third suitcase), and books (in a box), and don't buy anything else other than some cheap IKEA/secondhand furniture and a cheap used bike when I get to my new destination (things that I can easily sell off again for exactly what I paid for them when I leave).

One day, when we settle down, buy a house, have a family, and think we're going to stay in a location for the foreseeable future, then I might start to accumulate a few more things. But at this point, I don't feel like spending thousands to ten of thousands of dollars to move my life around the globe.

You’re an impressive minimalist! I’m going to channel you as I gear up for my next move.

 

[pearaffair]

I agree that if you love and wear it the price you pay to resize it is justified. PPW is what I go by to know if it is worth it for me...having said that could you size it just a bit bigger next time you have to resize (if there's a next time) and then just add one of those plastic rings around the band to make it fit and you can take away or add those plastic sizing rings as necessary to change the size in small amounts.




This is the number one way one can waste money. The words "A deal is a deal only if you are getting exactly what you want" are true for me.

Now the trick is knowing what one really wants and going for it and not substituting it with less expensive things along the way thinking it will satiate that desire. It won't. Getting exactly what you want is the surest bet in terms of satisfying that need and scratching that itch. Getting smaller baubles along the way won't make any meaningful impact IMO.




and of course you can look at it like this. Bling and cardio win win.

I agree with everything you said! And re-sizing is cheap if you compare it to replacement costs
My mom recently lost her ring in the ocean because it was too big!

Attempting to scratch a big stone itch with a bunch of little(er) stones.

Ahhh yes.

Yes. This exactly. Although I have been pretty good lately.

Hard to resist impulse buying!

 

[TreeScientist]

You’re an impressive minimalist! I’m going to channel you as I gear up for my next move.

Luckily jewelry doesn't take up that much space.

I try to be as minimalist as possible. Not crazy, live-in-an-empty-cave-in-the-himalayas-with-a-single-candle minimalists like a lot of the "minimalist" bloggers make themselves out to be, but just getting rid of stuff that takes up unnecessary space while moving. If I haven't used it in a year it is donated to the GoodWill, because the chances of me using it again if I haven't even looked at it or though about it in a year are slim to none.

I've recently become a lot more minimalist with clothing too. One day this past spring, I asked myself "What have my co-workers worn over the past week?" and I honestly couldn't recall even a single outfit from a single person. I wanted to see if anyone would notice if I wore the same outfit for an extended period of time. So this summer I wore a white v-neck (not the same shirt haha. I have 7 of them as undershirts) every day for 100 days, with the only exceptions being the 3 days I needed to wear a suit for work. After the 100 days were up, I asked friends/co-workers if they had noticed that I wore the same shirt every day. The only people who noticed? My fiancé and my mom (who both pointed it out about 10 days into the experiment).

I've come to realize that most people are way to self-absorbed to pay attention to what other people are wearing, with the exception being close family members who might actually pay attention to those sorts of things.

Heck, Mark Zuckerberg wears the same outfit every single day, and no-one seems to mind.

 

[MarionC]

Attempting to scratch a big stone itch with a bunch of little(er) stones.

So true!

 

[pearaffair]

Luckily jewelry doesn't take up that much space.

I try to be as minimalist as possible. Not crazy, live-in-an-empty-cave-in-the-himalayas-with-a-single-candle minimalists like a lot of the "minimalist" bloggers make themselves out to be, but just getting rid of stuff that takes up unnecessary space while moving. If I haven't used it in a year it is donated to the GoodWill, because the chances of me using it again if I haven't even looked at it or though about it in a year are slim to none.

I've recently become a lot more minimalist with clothing too. One day this past spring, I asked myself "What have my co-workers worn over the past week?" and I honestly couldn't recall even a single outfit from a single person. I wanted to see if anyone would notice if I wore the same outfit for an extended period of time. So this summer I wore a white v-neck (not the same shirt haha. I have 7 of them as undershirts) every day for 100 days, with the only exceptions being the 3 days I needed to wear a suit for work. After the 100 days were up, I asked friends/co-workers if they had noticed that I wore the same shirt every day. The only people who noticed? My fiancé and my mom (who both pointed it out about 10 days into the experiment).

I've come to realize that most people are way to self-absorbed to pay attention to what other people are wearing, with the exception being close family members who might actually pay attention to those sorts of things.

Heck, Mark Zuckerberg wears the same outfit every single day, and no-one seems to mind.

Oh how I envy you! Relevant article:
https://www.google.ca/amp/s/www.today.com/today/amp/tdna110299

 

[bludiva]

Oh how I envy you! Relevant article:
https://www.google.ca/amp/s/www.today.com/today/amp/tdna110299

another good one along those lines...

This woman decided black pants, black blazer, white blouse was the way to go every day.

https://adage.com/article/agency-news/creative-explains-wears-uniform-work/297975/

i wfh nowadays so my uniform = yoga pants

 

[OboeGal]

Luckily jewelry doesn't take up that much space.

I try to be as minimalist as possible. Not crazy, live-in-an-empty-cave-in-the-himalayas-with-a-single-candle minimalists like a lot of the "minimalist" bloggers make themselves out to be, but just getting rid of stuff that takes up unnecessary space while moving. If I haven't used it in a year it is donated to the GoodWill, because the chances of me using it again if I haven't even looked at it or though about it in a year are slim to none.

I've recently become a lot more minimalist with clothing too. One day this past spring, I asked myself "What have my co-workers worn over the past week?" and I honestly couldn't recall even a single outfit from a single person. I wanted to see if anyone would notice if I wore the same outfit for an extended period of time. So this summer I wore a white v-neck (not the same shirt haha. I have 7 of them as undershirts) every day for 100 days, with the only exceptions being the 3 days I needed to wear a suit for work. After the 100 days were up, I asked friends/co-workers if they had noticed that I wore the same shirt every day. The only people who noticed? My fiancé and my mom (who both pointed it out about 10 days into the experiment).

I've come to realize that most people are way to self-absorbed to pay attention to what other people are wearing, with the exception being close family members who might actually pay attention to those sorts of things.

Heck, Mark Zuckerberg wears the same outfit every single day, and no-one seems to mind.

Yes! I'm fascinated with the whole "uniform wardrobe" concept and have been for a while. I think it's time to go for it! (And a lot of other changes, since I've got terrible hoarding tendencies inherited from my dad, who was a true serious hoarder. I feel overwhelmed by my stuff, and yearn to be a minimalist.)

 

[Irving]

I can think of two ways to waste money:

1) Buying any jewelry at all, especially diamonds.

2) Chasing after the next "ultimate" or "perfect" ring, whether it's a bigger size, better clarity, or higher (different) color stone, or a different shaped stone, or the next "best new" cutter out there, or the next "best" setting.

 

[Lisa Loves Shiny]

1) Buying anything on credit.

2) Buying bigger and more expensive diamonds/gemstones because you love the pictures of similar ones posted on Pricescope.

3) Buying an expensive piece of jewelry because it is "such a good deal."

 

[MakingTheGrade]

1) Buying anything on credit.

2) Buying bigger and more expensive diamonds/gemstones because you love the pictures of similar ones posted on Pricescope.

3) Buying an expensive piece of jewelry because it is "such a good deal."

I’ve been guilty of 2 and 3 though have yet to regret those buys so maybe not a waste after all. Sometimes I get inspired by PS pieces I see and go in a hunt if my own! And sometimes a good deal is also something I make into something I love. Time will tell if Hazel falls into camp 3 lol. Certainly the biggest sort of “omg I can’t pass on this deal” purchase I’ve made.

 

[chappy]

What is a waste? Of time or money, as long as you got something out of it (happiness, satisfaction, experience not to do it again), why's it a waste? Aren't we all just passing the time as enjoyably as we can before we leave this world? Maybe it's only a waste if it came at cost for another opportunity that would've brought more personal value.

 

[kmoro]

I suppose waste can mean different things to different people ... to me, it’s simply money that I regret spending.

I am quite happy spending a large amount of dollars on something that will bring me joy daily and for years. I’m not sure why diamonds make me so happy, but I can spend hours just staring at a beautiful diamond. I even tried to google why people like diamonds so much, lol. I think I may even be abnormal ... that’s how much joy I get out of this tiny material object. I have never even considered myself all that materialistic .... except when it comes to diamonds.

Fortunately for me, I can afford to buy a diamond of my dreams ... at last ... now I just hope I have many years left to enjoy it. If it caused me financial hardship, I would still rather call it foolish than a waste.

I would say that the biggest waste of money is spending it on something that you don’t really need or want. For example, if I settled on a diamond that wasn’t really what I wanted, I would regret spending the money and therefore consider it a waste. I would wait until I could get the one I wanted ... maybe more money but no regrets. I’d rather be out $30000 with no regrets rhan $10000 with a bunch of regrets ... $10000 is still a lot of money so why waste it?

 

[rockysalamander]

All the above.

Plus - Buying a design you like the look of, but won't actually be wearable for your actual life. I think we can get caught up in the beauty and fail to be honest about how much we'd actually wear something. We keep wearing the more comfortable/familiar/appropriate items over the new hotness.