Total jewelry budget??

[kgizo]

We often have a budget for individual pieces, but I'm curious if PSers also think about an overall jewelry budget. I just redid my jewelery insurance and seeing the total value surprised me a bit and got me thinking about this. If you are comfortable sharing, is there a point at which dollar wise you think you wouldn't/shouldn't buy more? If you have a max is it based on total value, achieving a "holy grail" piece, having a "complete" collection, jewelry box is full, or something else? If you have ever hit your max did you sell something so that you could get a new piece or just stop?

Poll is in $USD to keep votes consistent.

 

[baby monster]

As long as it doesn't exceed my 401k...

I certainly hope that my max goes up as I earn more.

 

[kgizo]

@baby monster, Ha! Good approach!

And, in the interest of full disclosure even though I was a bit surprised when I redid my insurance I am considering a small bauble. Made me wonder if I have a max and what would it be.

 

[PierreBear]

Interesting thread! We haven't thought about a total budget but rather each piece seems to come up for an anniversary celebration. We just assess at that point in time whether it is appropriate financially and whether we should go forth with the purchase as each piece of jewelry is a gift from DH. For me personally, rings are essentially capped at a max because I don't want to accrue so many pieces that I don't get to frequently wear other ones since you only have so many fingers. Having two sets to rotate is enough to me (at least so I say right now...hehe). It would give me more heart burn to buy a new piece that I'm really excited about but to wear my original e-ring less often and have it sit in a box. But then again there is also the world of earrings and necklaces and bracelets, but so far I don't desire diamonds for those type of pieces and don't mind fashion jewelry.

@kgizo - What do you plan on doing? Or is there a specific project you are working on? Good luck!

 

[Queenie60]

I don't think about budget as much as quality and will I use it enough to justify the cost. And I always think about the purchase for a while to be sure that it is what I really want to buy. Aside from that, I don't have a solid budget, and I'm not sure when I'll be satisfied with my collection

 

[kgizo]

@PierreBear I saw a vintage pearl and diamond cluster ring at a really good price. I have focused the past few years on getting $$$ holy grail pieces that truly round out my collection and they have made me very happy. I thought once I got those I wouldn't be tempted by little $ items, but I still am. I need to think about it for a few days to figure out if it will bring me joy. If not, it doesn't matter how well priced it is.

 

[smitcompton]

Hi,

About 12 yrs ago I assessed what I paid for my jewelry. I had only begun collecting a few years earlier, so I was surprised to find I had doled out about 25 thousand dollars in a few yrs. I was rather shocked and so began my withdrawal from jewelry purchases. I have a few small yellow and white diamonds but the rest is colored stones. I still enjoy about 70% of the collection, but the 30% I don't regard as good purchases. These was bought when I was in process of learning. I did buy a pair of one carat diamond stud earrings a few yrs ago and I like those. But thats it for me.

aNNETTE

 

[elle_71125]

I don't have a fixed overall budget but I will say that I started adding up what I've spent in the last few years and I had a mini heart attack. It was much higher than I had imagined (obviously, math is not my strong suit).

Having said that, I don't plan on stopping anytime soon. My poor DH.

 

[nala]

Total as in forever and ever? I honestly can't answer that. I don't put a total budget on other luxuries like vacations, although I do set an annual budget for them. So if you mean a total,I can't foresee what life has in store for me. One thing that I like to do is sell off my less desirable pieces when I find myself fixating on a new must have. I guess that's the only way that I kind of budget for jewelry. Oh yeah, and also for major holidays and birthdays and such. Those come from hubby's pocket!

 

[PintoBean]

I've never considered a total jewelry budget. Each piece bought was in consideration of our earnings and savings and debts at the time. Now that I'm down to 0 income and the same mortgage and other bills, my total jewelry spent would probably make me vomit.

 

[chrono]

I thought the poll is for a yearly budget? Or is it what's spent thus far?

 

[elle_71125]

I thought the poll is for a yearly budget? Or is it what's spent thus far?

I believe it's for the max you would consider spending...ever.

 

[kgizo]

The poll is about the max you would spend on your total jewelry collection ever. For example, Polly Pricescoper usually spends $5K per year. After 10 yrs she would have spent $50K on her collection. Is she cool with that and ready for another $5K per year for the next 10 to 20 years, or does she feel like $5K per year is good until $25K so at that point she stops acquiring or maybe sells some things to acquire different things. Just curious about the different viewpoints. I thought @baby monster's approach of looking at in comparison to her 401k was interesting as I hadn't looked at it like that before. Though I have thought about my collection spend in comparison to my car and house and if I would curtail my spending at some point. My mother, however, looks at her annual jewelry budget but doesn't care how much the total is as she would never sell any of her pieces. Does that make sense?

 

[diamondseeker2006]

The total is irrelevant to me, as we also buy things gradually as holidays and project ideas arise. I wouldn't base my decision to stop buying on how much I had spent, but rather, do I have everything that is important to me and enough for all my girls to share fairly equally? I only insure the AVR ring and my studs as those two things are worn the most and have the greatest opportunity to be lost or damaged. I don't care to overspend on insurance premiums, so we basically self insure. If it disappears, we will either replace or not bother to replace based on how important the piece was to me.

I really don't know how much I have spent, but I am kind of curious to add up just the pieces I have bought since coming to PS. I hope I don't have a heart attack when I add it up!

 

[PumpkinOrange]

I don't see any problems with that bcoz jewelries are investments. Most of the jewelries I purchased since I started buying them since 2005 tripled in value. Like I bought a ring in October 2005 it for $100 dollars or so. The pawn value of that ring alone today is $250 dollars!

 

[PumpkinOrange]

I believe it's for the max you would consider spending...ever.

I like the ring in your avatar. What's the center stone?

 

[yssie]

The total is irrelevant to me, as we also buy things gradually as holidays and project ideas arise. I wouldn't base my decision to stop buying on how much I had spent, but rather, do I have everything that is important to me and enough for all my girls to share fairly equally? I only insure the AVR ring and my studs as those two things are worn the most and have the greatest opportunity to be lost or damaged. I don't care to overspend on insurance premiums, so we basically self insure. If it disappears, we will either replace or not bother to replace based on how important the piece was to me.

I really don't know how much I have spent, but I am kind of curious to add up just the pieces I have bought since coming to PS. I hope I don't have a heart attack when I add it up!

I submit that sometimes ignorance truly is bliss! I did this a few months ago and I would have preferred not to know. Although, if I'm honest, I will admit that it hasn't changed my habits - it's just ensured I feel more guilty when I indulge them

 

[diamondseeker2006]

I submit that sometimes ignorance truly is bliss! I did this a few months ago and I would have preferred not to know. Although, if I'm honest, I will admit that it hasn't changed my habits - it's just ensured I feel more guilty when I indulge them

This says it all.

 

[yennyfire]

This says it all.

Amen!!

 

[LLJsmom]

OMG. I need to cut myself off. And stay off PS. This is a scary number. I only have room for just a few more bdays and anniversaries.

 

[elle_71125]

I like the ring in your avatar. What's the center stone?

Thank you. It's a paraiba tourmaline.

 

[PumpkinOrange]

I knew it!

 

[PumpkinOrange]

I thought the poll is for a yearly budget? Or is it what's spent thus far?

I like center stone in your avatar. Is that a deep reddish pink diamond?

 

[Phoenix]

I do know exactly what I've spent thus far. I'm a Chartered Accountant/ CPA so I have spreadsheets, budgets etc for everything! I also have a limit per piece (depending on what it is), and a yearly budget and a total amount I should spend on bling. Somehow, I always manage to exceed them!

 

[Resonance.Of.Life]

I've never considered a total jewelry budget. Each piece bought was in consideration of our earnings and savings and debts at the time. Now that I'm down to 0 income and the same mortgage and other bills, my total jewelry spent would probably make me vomit.

This. Considering our earnings, savings, and debts we spend accordingly. We never go into debt to buy any item or let it hurt our savings or our regular flow of cash.

If anything, we spend more on our fur kids

 

[mrs-b]

This. Considering our earnings, savings, and debts we spend accordingly. We never go into debt to buy any item or let it hurt our savings or our regular flow of cash.

If anything, we spend more on our fur kids

My husband and I actually *did* work this total out once. We realized that - over the last 13 years - we'd spent roughly $260k on our dogs - 20k a year.

Seriously, if I could wear one of them around my neck, I would.

 

[Arkteia]

Furbabies, or simply babies...

I spent a lot on my kid(s). Way more than I would spent on jewelry in a year.

I never had any balance on my credit card. Ever. And I am the person who paid off mortgage in 5 years. But came the time for my younger kid's tutoring, and in one year, to my horror, I accumulated a balance, without even understanding how it could happen. Long story, but I took control of it, sadly, not of my kid's grades.

As to stones, for me it is chromotherapy, so I probably will not chase diamonds per se, unless something catches me in a different way. (An unusual cut, or something antique). I consider my colored stones collection rather full. I want a good emerald, and a colored diamond, but the budgets for these two can vary, so I am still looking. I should probably look for a Paraiba, but frankly speaking, the pair that I liked most, on a show, was pretty included for the price and I could not mentally balance the level of inclusions and the glow.

 

[Resonance.Of.Life]

My husband and I actually *did* work this total out once. We realized that - over the last 13 years - we'd spent roughly $260k on our dogs - 20k a year.

Seriously, if I could wear one of them around my neck, I would.

Haha no kidding. Our running tab for just under 11 months so far is close to 30k. -_- But they are worth every damn penny.

 

[Dancing Fire]

My husband and I actually *did* work this total out once. We realized that - over the last 13 years - we'd spent roughly $260k on our dogs - 20k a year.

You could have adopted me for less...

 

[missy]

I don't have a total lifetime jewelry budget.

Rather each project gets a budget I feel is reasonable and within our financial means. Sometimes I save a few occasions and add each individual occasion budget together for a larger bling budget. However there is no lifetime total budget. And just to add *I* (not my dh) am the one who sets my own jewelry budget. My dh leaves it to me to decide the amount. He trusts me.

And I don't want to know how much we have spent on bling in the past 20 years. No thanks. It is for me a part of my enjoyment in life and just as I don't have total lifetime budgets for other projects/experiences etc. a total lifetime jewelry budget IMO serves no useful purpose. As long as it is within our financial means and we aren't touching our other budgets we are A-OK.

That is not to say my eyes are quite often bigger than my bling budget. They certainly can be and often are!