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Shít that people pay over-the-odds for

[Deleted User]

Was sent to the offie yesterday for a bottle of birthday Moet. 56 fcuking quid for a bottle of cheap wine with some bubbles in it.

I defy anyone to tell me they could tell the difference between that bottle and one that costs 15 quid.

What else is over-rated relative to what is costs to produce? Those ridiculously expensive liqui-tabs? Persil must make a fortune on those. Shop-bought paracetamol?

I'm bitter AF about that Moet, tbh.

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JC01

Mike Curved Poet wrote: »

Finance is how a car should be bought (well a car worth more than a few thousand), even the very rich buy their cars on finance or even lease them as is not wise to spend your savings on a car much better to finance it especially with low or 0% finance available nowadays. If you can afford the repayment then you can afford the car.

Also a car is a lot more than something for getting you from a to b for many people and for others they just don’t want the hassle of ncts, visits to a mechanic and the risk of breakdown particularly for those who heavily reply in their car.

Rich people finance 300k+ exotics for short periods for two reasons, one they are rich and thus usually possess an ability to make money from money therefore it doesn’t make sense to tie up 300k+ in a car when they can make better percentages on investing that capital over the same period, This will normally also pay for the interest on the car finance.

The second reason is a lot of exotics appreciate in the first year of sale, especially this bought at MSRP, which is very hard done most of the time, so these people are financing an appreciating asset rather than what most Irish people do when they finance a 40k golf that loses 25% of its value in the first few months. Finance is a dreadful financial decision on the vast majority of cars as is is on almost any depreciating asset.

Graces7

This thread makes me thankful I d o not buy.. ??****|??

Eggs For Dinner

Bottled beer in pubs

As for buying soft drinks in pubs, barmen have to put half a glacier in your glass to bring the level of drink up near the top.

Mr. teddywinkles

LirW wrote: »

But people sign themselves up for crazy payments for 3-5 years. Couple I know just got a 142 car on finance, they pay 220 quid a month now for the next five years for a car that'll be 9 years old when they're done with the contract. They'd be low earners and are aware that they now won't have a wedding or a nice holiday anytime soon because their money goes into the car.
Buying a new car isn't silly, getting a car on finance and have quite some financial burden on an asset that loses its value really fast might be though.

Well in my case what I've put into my car parts wise for the last few years. May as well be on finance.

valoren

enricoh wrote: »

Yup bicycles - 2 /3 k for a push bike seems nuts to me.
New Golf clubs - a mate of mine got fitted for new ones n bought everything hook line n sinker that yet man was selling. I can't think of anything worse for depreciating in value.

Send this onto him in a few months and watch the blood drain from his face

https://valueguide.pga.com/trade-in/

The thing with golf clubs is that there has been a restriction in place for over a decade now on the coefficient of restitution ratio particularly for drivers. "COR" is effectively the trampoline effect between the club and the ball and by rule this can't exceed 0.83. If this wasn't implemented then while the amateur, casual golfer would hit further you'd be seeing professionals driving the ball 400 yards at a clip.

So realistically if you've bought a premium driver in the past few years then it's already at or near this established limit.
A premium driver might go for €500 off the rack.

As a result marketing of clubs has become laughable in order to mug people into continually spending and upgrading what is effectively the same technology so you see bolloxology terms from the branded manufacturers such as 'turbulators', 'jail break technology', 'twist face', 'speed chassis', 'power wave sole', 'power hole technology' etc which year on year becomes more and more ridiculous but lures people in that there is a simple short cut (at a steep price) to making Golf easier. The reality being that these space age engineering enhancements deliver negligible improvements, for example, you might get a % increase in club head speed delivering an extra 2 yards of carry which depending on how your swing itself is will be a carry further up the fairway or further into the trees.

[Deleted User]

StupidLikeAFox wrote: »

Deleted User wrote: »

Property.

The fact that people are queuing up all over again, to buy over-priced property in this country, will mean that a huge amount of cash will (once again) be sucked out of the economy over a 25 year period.

As someone mentioned on boards before one time, if a buyer borrows €250,000 over 25 years @ 4% rate of interest, they will eventually be paying back €395,000 over the term of the loan.

This of course, is not reflected on the price tag on the house when it is advertised in the estate agents.
So while people will complain about having over-paid for concert tickets, cars, hair-dos etc, no one will mention the elephant in the room.

You might have a point about property itself being overpriced, but a mortgage is likely the cheapest money you will ever borrow. That is a low interest rate, and over the life of the mortgage a lot of the cost of the mortgage is wiped out by inflation.

To use your own example, a house bought 35 years ago might have cost 25k, and over the lifetime of the mortgage would have cost 39.5k in total - small money in todays terms. Mortgages are also currently cheaper than renting for the most part and they allow you to build equity in an asset.

Sorry but I disagree, the cost of borrowing €250k at 4% over 25 years is roughly €145k. How is that good value?
Irish bank's mortgage rates are almost double the European average, how is that a good rate? Why are our European counterparts paying on average €200 - €250 per month less on their mortgage repayments. Are houses in Ireland just that bit better? Or maybe its because its Ireland, and everyone wants to live here.

I dont think so.

As for building equity in an asset, just ask the Australians how they feel about that. Their property market has just gone wallop. They are expecting a 40 - 45% 'correction over the next year or so.

By the way, the other elephant in the room in Ireland at the moment is Brexit. Dont you think that people should hold back from buying until we can see how Brexit will affect the economy here. We could be facing a similar correction as Australia.

xi5yvm0owc1s2b

henryforde80 wrote: »

Apple fan boys. Yes you can, and the real benefits of Android are they are not locked down like Apple phones. Give me a 350 euro android phone over a 1200 euro apple phone any day.

People need to wake up that Apple phones are just utter ****e

People also need to wake up to the fact that Android phones are less expensive in part because Google, the major player behind the Android operating system, wants to track literally every step you make so that it can monetize your data.

Apple values your privacy to a greater extent because, unlike Google and Facebook, it operates a business model based on selling expensive hardware, not peddling users' data to advertisers.

In addition to letting Google invade your privacy hundreds of times every day, that cheap Android device is also a great deal if you want a phone that doesn't get regular security updates. Google's Director of Android Security said recently that he was "proud" that half of all Android devices received a security update in 2016. Of course, that means that half didn't get a single security update. And even when Android security patches are released, they are often months out of date by the time they're installed.

From a privacy and security standpoint, Android devices are terrible. Yes, Apple's devices cost more -- but anyone conscious of privacy or security will get what they pay for.

ohnonotgmail

Deleted User wrote: »

Sorry but I disagree, the cost of borrowing €250k at 4% over 25 years is roughly €145k. How is that good value?
Irish bank's mortgage rates are almost double the European average, how is that a good rate? Why are our European counterparts paying on average €200 - €250 per month less on their mortgage repayments. Are houses in Ireland just that bit better? Or maybe its because its Ireland, and everyone wants to live here.

I dont think so.

As for building equity in an asset, just ask the Australians how they feel about that. Their property market has just gone wallop. They are expecting a 40 - 45% 'correction over the next year or so.

By the way, the other elephant in the room in Ireland at the moment is Brexit. Dont you think that people should hold back from buying until we can see how Brexit will affect the economy here. We could be facing a similar correction as Australia.

the issue with the irish market is that getting repossession for non-performing loans is incredibly difficult. it is a long and expensive process for the lender. If we had european style rules on repossessions then we might have cheaper rates. How many foreign banks started to offer mortgages here and subsequently pulled out of the market?

topper75

enricoh wrote: »

Yup bicycles - 2 /3 k for a push bike seems nuts to me.

Got a roadbike for 2k last year. Did feel very wobbly about spending that money. The 'sensible' voice in my head reminded me at 5-sec intervals that it is just a bike.

Thing is though, it is up there now as one of the best spends I have made in the last decade in terms of usage and enjoyment I got out of it (so far!). I used the scheme in work. I'm out on it a lot because it is so enjoyable to ride in comparison with my previous sensibly-priced bike.

When it is engineered to that degree, it is a joy to ride. When it is a joy to ride, you go out more on spins. When you go out more on spins, you really improve your stamina. This promotes joy and gets you deeper into it again. Instead of regrets I have questions as to why I didn't get something like that earlier.

TerrorFirmer

1K iphones? Your money, but at least you actually use the item all the time, so it's not a bad return on investment arguably. Same for anything really, as long as you actually get use out of it.

The one thing I just don't get is some women and fashion. Wardrobes full of items that've only been worn once, endless pairs of shoes (some unworn), handbags that cost the price of a holiday and are only used once a year (if even), etc.

Hector Bellend

Dakota Dan wrote: »

You wouldn’t want to be buying a bottle of whiskey for 12k because you’d sh1t your pants.what difference does it make you didn’t pay for it out of your own pocket.

If youre anything like me then you'll also sh1t the bed when you've finished drinking it.

Guy:Incognito

Greyfox wrote: »

Your post makes no sense, yes we need silly people to buy new cars but that doesn't change the fact the the people who buy new cars are silly

They're the ones driving around in cars that don't have multiple people's farts and bodily fluids all over them.

If I could afford to and the cars I wanted were available new I'd buy new every time.

Why not buy everything in your life 2nd hand?

Guy:Incognito

LirW wrote: »

But people sign themselves up for crazy payments for 3-5 years. Couple I know just got a 142 car on finance, they pay 220 quid a month now for the next five years for a car that'll be 9 years old when they're done with the contract. They'd be low earners and are aware that they now won't have a wedding or a nice holiday anytime soon because their money goes into the car.
Buying a new car isn't silly, getting a car on finance and have quite some financial burden on an asset that loses its value really fast might be though.

But if they saved the same money over the time and paid the cash for it, you'd say they were doing it right......

rizzee

Gin and Tonic. In a fancy glass. La dee daa

Guy:Incognito

LirW wrote: »

.
A car has one job, to take you from A to B. If your pockets aren't lined a car for 5k will work out just as well for doing what its supposed to do and you still have some change left in your pocket.

Outside of essentials like food, the same logic could he applied to test things. So unless you're living in a self built cabin in the woods, I'd imagine youre doing similar but that's ok cos it's not on cars.

oceanman

A Tyrant Named Miltiades! wrote: »

Sounds logical, but may not seem quite to sensible when you're old and sitting on a lot of cash, with nobody to spend it on.

you can spend it on yourself...its your money

StupidLikeAFox

Deleted User wrote: »

Sorry but I disagree, the cost of borrowing €250k at 4% over 25 years is roughly €145k. How is that good value?
Irish bank's mortgage rates are almost double the European average, how is that a good rate? Why are our European counterparts paying on average €200 - €250 per month less on their mortgage repayments. Are houses in Ireland just that bit better? Or maybe its because its Ireland, and everyone wants to live here.

First of all, you need somewhere to live. Over 25 years the actual value of the 145k is decreasing due to inflation. The alternative option is to rent, where the value of your rent will only ever increase due to inflation. So over the lifetime of your mortgage you will more than likely pay less with a mortgage vs renting, along with all the other benefits such as stability, security of tenure etc. And at the end of the term you will own an asset

LirW

Guy:Incognito wrote: »

Outside of essentials like food, the same logic could he applied to test things. So unless you're living in a self built cabin in the woods, I'd imagine youre doing similar but that's ok cos it's not on cars.

My problem is how fast a car depriciates in value. If a new car is 30k, and by god that's an awful lot of money, it's worth a tenth of that a decade later. Motoring costs a lot of money either way but personally I don't wanna be tied up in a financial contract and never get to actually own the car.
At the moment I couldn't afford or wouldn't be comfortable to afford a car on finance. I might change my mind if we'd be so comfortable with money that the monthly rate doesn't sting us in the slightest. But I'm not and neither are many other people. It's shocking how easy you can get finance for a car though, it doesn't matter to anyone if you can actually afford it or not. If things go belly up you're royally f'd with finance.
I'm 10 times more comfortable to have my car that I can drive until it falls apart and go from there.

It bothers me that the price of a new car is painted as such a non-issue and if you dream of driving a new Audi for only 300 a month, anything is possible. I doubt it's a wise decision to finance such a car though when you're on 450 a week.

Guy:Incognito

LirW wrote: »

My problem is how fast a car depriciates in value. If a new car is 30k, and by god that's an awful lot of money, it's worth a tenth of that a decade later. Motoring costs a lot of money either way but personally I don't wanna be tied up in a financial contract and never get to actually own the car.

How much is your TV, fridge, washing machine, dvd player, phone or pretty much anything else you buy worth after 10 years? Most of it has no 2nd hand value at all, never mind 10% of the purchase price

LirW

Guy:Incognito wrote: »

How much is your TV, fridge, washing machine, dvd player, phone or pretty much anything else you buy worth after 10 years? Most of it has no 2nd hand value at all, never mind 10% of the purchase price

My TV certainly isn't 30 grand though and I don't buy it on finance.
I might mention that I come from a country where people are very opposed of loading themselves on with debt, the general mindset is that you rather own something outright that's not super fancy instead of buying something new with a load of debt.
I can afford my fridge, I can't comfortably afford paying 250 quid a month for a car for the next 3-5 years. Big difference.

[Deleted User]

Guy:Incognito wrote: »

How much is your TV, fridge, washing machine, dvd player, phone or pretty much anything else you buy worth after 10 years? Most of it has no 2nd hand value at all, never mind 10% of the purchase price

None of those items is such a high % of income, nor typically bought on finance though, and if they are, not for as long

Guy:Incognito

LirW wrote: »

.
I can afford my fridge, I can't comfortably afford paying 250 quid a month for a car for the next 3-5 years. Big difference.

Plenty can though. And plenty more would rather spend 200-300 a month on a car than a few nights out or smoking or eating out.

LirW

Guy:Incognito wrote: »

Plenty can though. And plenty more would rather spend 200-300 a month on a car than a few nights out or smoking or eating out.

If you can, no problem. Plenty can't yet it's painted in an aspirational light to buy a new car because hey it's just a few hundred a month, everyone can do that. The price of a new family car can easily be someone's annual wage though, people tend to forget that.
When people take out a mortgage they're heavily assessed and you need to bring certain requirements. But you can easily finance a car even with a low income and a meh credit rating. And if garage X wouldn't give you the finance you need, there are plenty of dodgy dealerships that can and do.

retalivity

Airport car parking.

Feisar

Obvious Desperate Breakfasts wrote: »

I know, right? I remember being gawped at with incomprehension by a bunch of girlie girls I used to work with who couldn’t believe that I don’t buy a new dress for each wedding. And I gawped back in a similar manner at one of them commenting “but what about photos from the weddings? What if someone spots that you wore the same dress at two different ones?”. Firstly, the ego. I doubt anyone is looking that closely. Secondly, if I like a dress, I want to wear it as much as possible. What actually will happen if someone notices?

Here, we had a young wan lodging with us a while back, student nurse. Lovely young woman however she was saying she couldn't wear the same outfit out twice due to Instagram pics!?!

oceanman

sandwiches and rolls from cafes and delis....people spend crazy money on them instead of bringing their own to work.

ablelocks

dishwasher tablets.

the powder (which is getting harder to find) is much better value, and in the small print of our instructions, the manufacturer recommends powder instead of tablets.

[Deleted User]

oceanman wrote: »

sandwiches and rolls from cafes and delis....people spend crazy money on them instead of bringing their own to work.

They are nicer, fresher and much more convienent though along with much better choice and being able to choose what you want on the spot. Well worth it imo.

I never bring lunch and I spend between about 4.50 and 5.50 per day on sandwiches or rolls (depending on the shop). If I were to buy enough different breads/rolls and fillings to give me the same choice I’d probably spend more and end up with a load of waste. Is also a nice to go out for a stoll to the shops.

ohnonotgmail

oceanman wrote: »

sandwiches and rolls from cafes and delis....people spend crazy money on them instead of bringing their own to work.

food made by other people tastes better. And science backs that up

https://www.forbes.com/sites/sap/2013/07/03/why-do-sandwiches-taste-better-when-someone-else-makes-them/#337a97f05521

wally1990

Mike Curved Poet wrote: »

They are nicer, fresher and much more convienent though along with much better choice and being able to choose what you want on the spot. Well with it imo.

Guy works with me spends €5 every single day in the deli on his lunch
Never ever brings a lunch
So about >€1250 a year or whatever