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"My wife and I always wanted a Leica camera and suddenly we realized that if we didn’t buy it now, we will not be able to for a while." Is this the mindset of

"My wife and I always wanted a Leica camera and suddenly we realized that if we didn’t buy it now, we will not be able to for a while." Is this the mindset of "better buy the expensive thing before we can't afford it"? I've seen this expressed before and it's not sound reasoning. If you wouldn't be able to keep that money in a savings account because you know you'd later find other uses of the money to provide better value then you shouldn't be comfortable spending it on a depreciating asset immediately. The only way it makes sense is if you trust your future self's reasoning less than you trust your present self's.

bestham 8y ago
I don’t think that this is about not having the money at a later stage, but about spending that kind of money when you have other responsibilities (kids) being irresponsible.
- sokoloff 8y ago
  Right, but it's not like money has an expiration date on it. If it's going to be irresponsible then, it's probably just as irresponsible now, perhaps not as obviously. ("Better hurry up and make that mistake...")
Jonnax 8y ago
That's likely not the reasoning. More the idea it's easier to justify spending the money when there aren't other priorities.
patrickg_zill 8y ago
In the specific case of Leica, the company did raise their prices rather steeply. If he bought before then, his camera might have increased in value.
_Microft 8y ago
It reminds me of something from Robert Kiyosaki's book "Rich dad, poor dad" (I'm surprised I'd quote that) that basically says that the things you need to do or pay will be done or paid, while the ones that not necessarily will be done or paid might not. Therefore do the unnecessary ones first because the necessary ones will be done anyways. This way you end up with e.g. both leisure time and work done instead of just work done but no leisure time. An interesting thought, in my opinion.
ghaff 8y ago
I'd be quite sure the author is well aware of the contradiction. Not every human activity and behavior has to be 100% rational.
_underfl0w_ 8y ago
I think the author was referring to the lack of "fun money" that he and his wife were anticipating having in the budget once their kid was born.
lizknope 8y ago
I bought a $5000 Nikon lens because I learned that there would be a price hike of $900. Leica equipment gets constant price hikes. The cameras and lenses are great but at this point they are mainly for rich amateurs rather than working professionals. I also bought my house in 2002 because I had looked at houses in 2000 and 2001 and decided to continue renting. I bought in 2002 because I thought that if I didn't buy now that I would get less value for my money later.

bestham 8y ago

I don’t think that this is about not having the money at a later stage, but about spending that kind of money when you have other responsibilities (kids) being irresponsible.

sokoloff 8y ago
Right, but it's not like money has an expiration date on it. If it's going to be irresponsible then, it's probably just as irresponsible now, perhaps not as obviously. ("Better hurry up and make that mistake...")

Jonnax 8y ago

That's likely not the reasoning. More the idea it's easier to justify spending the money when there aren't other priorities.

patrickg_zill 8y ago

In the specific case of Leica, the company did raise their prices rather steeply. If he bought before then, his camera might have increased in value.

_Microft 8y ago

It reminds me of something from Robert Kiyosaki's book "Rich dad, poor dad" (I'm surprised I'd quote that) that basically says that the things you need to do or pay will be done or paid, while the ones that not necessarily will be done or paid might not. Therefore do the unnecessary ones first because the necessary ones will be done anyways. This way you end up with e.g. both leisure time and work done instead of just work done but no leisure time. An interesting thought, in my opinion.

ghaff 8y ago

I'd be quite sure the author is well aware of the contradiction. Not every human activity and behavior has to be 100% rational.

_underfl0w_ 8y ago

I think the author was referring to the lack of "fun money" that he and his wife were anticipating having in the budget once their kid was born.

lizknope 8y ago

I bought a $5000 Nikon lens because I learned that there would be a price hike of $900. Leica equipment gets constant price hikes. The cameras and lenses are great but at this point they are mainly for rich amateurs rather than working professionals. I also bought my house in 2002 because I had looked at houses in 2000 and 2001 and decided to continue renting. I bought in 2002 because I thought that if I didn't buy now that I would get less value for my money later.