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Original poster

Is it selfish to buy a rolex

130 replies

Summeriscomin · 26/02/2019 20:10

When you have a family to support?

My OH wants a Rolex for his 30th birthday. £9500 which he wants me to pay a small contribution to £500 or so. Which will leave me with not much to spend on him.

He’ll pay a larger portion out of savings he’s accumulated over time. And then the rest will be paid on a monthly direct debit.

I said he can do as he pleases as he works hard but I did portray my confusion of why he would want one. Perhaps as a 50/60th present to himself when his dependents have grown but he has a young family to support.

It comes across to me as selfish as it’s to portray an image to others but who cares what other strangers think. In my opinion the money could be spent on better things.

He justifies it that he works hard (he does), he/we can afford it & that he’s always wanted one. And that it’s an asset and won’t lose money.

So who do you think is right in this Situation. Happy to accept I may be wrong but I’m the least flashiest person in the world. Don’t own nor want any designer things so I just don’t get it.

OP posts:
TheChineseChicken · 26/02/2019 20:12

Unless you're very well off that seems like an insane amount of money to spend on a watch. I would have thought £1000 was a lot and would get you a good quality watch?

Original poster
Summeriscomin · 26/02/2019 20:13

No not insanely well off. The watch is about 10% of our yearly combined income.

OP posts:
Florencenotflo · 26/02/2019 20:13

Has he factored in insurance and maintenance? My dad had to get a separate insurance for it as it wouldn't be covered on his house insurance. His has to be serviced every 2 years and the last one cost £750 because it needed some work doing to the mechanism. It's usually around £500-£600 though for a normal service.

To answer your question though, if he's not
Getting into debt for it, they are an investment. But with kids I could always think of something better to spend £10k on than a watch. I'm with you on this one!

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PurpleDaisies · 26/02/2019 20:14

I think it depends on your family finances. Do you have joint savings? How would it impact holidays, redecorating, emergency funds etc?

I wouldn’t spend that much on myself (neither would dh) but i can see how a couple with a different set up might.

Toddlerteaplease · 26/02/2019 20:15

Buy a fake. If he's rich enough to own one, no one will doubt its genuine. I he can't afford one then everyone will think it's fake anyway!

yorkshirepud44 · 26/02/2019 20:15

My dad bought a stupidly expensive watch which has since doubled in value. It's made him more money than any other investment. I say go for it.

mumsiedarlingrevolta · 26/02/2019 20:15

My Dh's parents gave him a rolex for his 21st.

it's stopped working/had tons of problems so many times-every time you have to send it back to rolex and it's very expensive and gone for ages.

I wonder if your DH couldn't find another option?
I know my DH would never say to buy one...

formerbabe · 26/02/2019 20:15

People buy watches on credit?! Well, you learn something new every day I suppose.

My favourite saying....don't go broke trying to look rich

Haworthia · 26/02/2019 20:16

That’s an incredibly indulgent gift to buy yourself when you’re not exactly rolling in money, yes.

Original poster
Summeriscomin · 26/02/2019 20:16

It wouldn’t really affect our day to day lives to be totally honest. What we will pay towards it is currently put into savings anyway. But that will now sit on his wrist.

I just don’t know why he wants to have a Rolex. I’d almost be embarrassed to wear it as id feel like people would think I’m a show off!

I haven’t thought about home insurance. I might Call them to discuss.

OP posts:
ThroughThickAndThin01 · 26/02/2019 20:17

Well I think life is for living and if he waits until he’s 60 he’s lost out on 30 years of wearing it.

However isn’t there a cheaper one he’d be happy with?

Crunchymum · 26/02/2019 20:17

It would be a no from me. We don't bring in £95k a year though!!

OnlyFoolsnMothers · 26/02/2019 20:18

Ridiculous idea! Not a fan of spending such money on a watch anyway- unless a load of free money and no dependents. But to put that pressure on credit is madness!!!

IWannaSeeHowItEnds · 26/02/2019 20:19

I think it's madness. If you have to get credit to pay for it, then you can't afford it! And yes, I do think it's selfish when you have kids to support. Working hard isn't justification imo - lots of people work hard but adults with responsibilities have to live within their means.

GiveMeSteam · 26/02/2019 20:20

To answer your question though, if he's not
Getting into debt for it, they are an investment.

This is partly true, I mean they are and they’re not. I have a pricey watch that I inherited (not worth £10000 though!) and while it’s increased in value from the original purchase price 50-odd years ago, it’s also had a fair amount of money spent on it over the years. I’d have been better off with blue-chip shares I think. And there’s also quite a risk involved. Fashions change and if nobody wants to buy it, it’s worthless.

But to answer the OP’s question, he can’t afford it because he can’t afford it! You said he’d be paying the rest off via monthly direct debit if I understand correctly? So he doesn’t actually have the money.

HairyToity · 26/02/2019 20:21

I have experienced loosing a well paid job, and it took me 5 years to get my finances on track. I think it's very frivolous. Can't you suggest a 2k watch - is that not enough of a status symbol?

HighlightsandHeels · 26/02/2019 20:22

Do you have other savings or is he using all of them for a watch?

That seems insane and I own a Rolex so a fan!

Original poster
Summeriscomin · 26/02/2019 20:23

The rest will go on an interest free credit card and be paid off before interest starts. So instead of that amount being saved it’ll be off the credit card but with no interest if that makes sense.

It also makes me feel a bit shit because I want to buy him a great gift for his birthday. But as my very sizeable amount of money for a birthday will just go towards a watch it feels like I’m giving him nothing.

There’s no explaining to him however. I just think what’s the point. Anytime I mention it he just moans that I’m making him feel guilty and won’t enjoy his birthday present as a result.

OP posts:
LittleRen · 26/02/2019 20:24

I agree if you have to finance part of it then you can’t really afford it.

I have a Rolex, it was my graduation gift in 2007, I wear it every day and I love it so much. No one even notices it though, it’s definitley not a status symbol for me. They are supposed to be serviced, I have never bothered and it still runs perfectly.

Original poster
Summeriscomin · 26/02/2019 20:25

We do have separate savings so it’s not all going on the watch.

OP posts:
Kittykat93 · 26/02/2019 20:25

10% of our income would be 5 grand, and none of us would ever dream of spending that on a watch. Especially not if it involved finance. Mad!!

Believability · 26/02/2019 20:26

Suggest he looks at a vintage one. My husband bought me one for my 40th and it was a fraction of The price. They are very special and it’s my most precious possession but £10k is insane

OnlyFoolsnMothers · 26/02/2019 20:27

OP you seem to be justifying the purchase, so let him get on with it.

caffeinebuzz · 26/02/2019 20:27

If he could afford it from savings without any impact to your lifestyle, fine. But it sounds like some portion will be on finance, which means it isn't really an investment and you have to shoulder an extra monthly outgoing that is comfortable now but may not be if your situation changes during the finance period.

Tell him to get saving so he can afford it properly by his 40th!

ShirleyPhallus · 26/02/2019 20:27

I buy myself designer bags because they bring me real pleasure and I can afford to do so

I don’t understand people who work hard and then only spend for the benefit of the family and never spend money on themselves