bobm
Practically Family
- Messages
- 501
- Location
- Glen Ridge, NJ
There are a range of views possible on this idea. There are also wealthy people who do not spend much money on consumer items like food, clothing or cars. They believe in thrift and may well be called tight by others.
My own take on a "fool and his money" is it can refer to any consumer item bought when it was either unnecessary or could be achieved for less. It's a saying that may apply to smart spending, not whether you can afford something or not.
I was going to say at one point I won't pay $1000 for a leather jacket, let alone $4000. I don't really see the difference in principle. In my case, I am fairly prosperous but I have simply inherited too much Calvinist thrift to justify the spending. For this reason I rarely spend more than $100 on any time of clothing - $20 preferably.
The old saying if you have to ask how much it costs, you can't afford it isn't always true. Sometimes it's the point that matters
I think you hit the point I had in mind with my "a fool and his money" post. I don't disagree with Big Jake and Superflous's comments. And in all honesty, if there was ever a post on any forum that I regret making it was that one. It was an immediate and unfiltered remark and frankly not at all reflective of my own purchasing history or values. And yes value is an extremely subjective word and covers virtually any item that can be bought or bartered for.
My self personally - certainly not rich, though far from poor, just a guy in that huge middle/middle class. But I will use these examples where that phrase applies directly to me.
A few years ago, I was at a Porsche dealership and ended up buying a Macan S - almost on impulse and traded in my 2 y/o Audi Q5. Ok, after driving in that car a few months I realized it simply was a poor choice for me as a commuter and a few months later sold it for the new model A4 sedan. I liked it but well, I was so accustomed to driving SUV's that when I saw the A4 Allroad (a higher riding station wagon version of A4) I traded my 6 month old A4 for the Allroad. That's 3 new cars bought in less than a year, losing tons of $$$ on depreciation alone.Looking back, an extremely foolish way to spend my money. Lesson well learned.
Yet, when I was at the Porsche dealership, the salesperson pointed to the yellow Ferrari out on the lot - that customer simply owns them for a few month until he gets bored with it and trades it in for something similar. Is he foolish? That was my initial reaction, but if that guy can afford to do so and he just has a hankering to try/buy/trade in super exotic cars, good for him.
Also a few years ago, while at Orvis' NY skeet shooting grounds, I ended up buying a new Italian over and under 20 gauge shotgun for about $2500.00. That was about the limit I was willing to spend/could afford - and most of my friends think that is simply crazy. That summer, my brother and I went skeet shooting again and Orvis was hosting and event on the grounds and there were shotguns selling for over 50k. I shook my head for a moment, but again, if guys are into that type of purchase, can appreciate the hand made workmanship and enjoy that shotgun, etc. more power to them.
I don't think them foolish, yet since I have not even taken my shotgun out of its case in over 2 years and have no desire to do so, that $2500.00 was a foolish purchase on my part.
I have a closet - or more, filled with fairly pricey jackets, sweaters, belts, shirts, pants - and a couple of hats that many have not seen the light of day in years. I consider that another example of the "fool and his money" thing. Yet, I have just bought (and posted) about a Lone Pine coat that cost me just under 2k. I have been eyeing that jacket for some time, read the reviews and tried it on many times. Value? Yes, because I appreciate that hand made quality, looks and feel of this coat, its a keeper. Foolish? Not in my eyes and I'm quite happy with my decision to bite the $$ bullet and buy it.
So, again it was a poor phrase to toss out there regarding the OP's example and totally meaningless unless you somehow know that person's thought process as well as financial situation, but I hope this explains my thoughts a bit better.
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