Oh yes, I pay less for my home insurance than for my jewelry one
Jewellery vs Net worth
- Thread starter Mishella
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Oh yes, I pay less for my home insurance than for my jewelry one
Really? We have great jewelry insurance but it considerably less than than our Homeowners!
What insurer do you use? Our is Jewelers mutual, they charge 1.5-2% usually. My husband is in charge of Homeowners insurance and I asked him a couple of times how much is it, why so cheap and what it covers, because I couldn’t believe that home insurance is so much cheaper than even a car one
What insurer do you use? Our is Jewelers mutual, they charge 1.5-2% usually. My husband is in charge of Homeowners insurance and I asked him a couple of times how much is it, why so cheap and what it covers, because I couldn’t believe that home insurance is so much cheaper than even a car one
AIG, and it was tested very strongly last year and they were awesome!!
I'm sure we've all had that uncertainty here. The first 10k bag, the first 50k watch....
Yes, one percent sounds a lot, but you have to start somewhere once. Personally, I see nothing wrong with investing a few percent of net worth in jewelry. But that's more a matter of personal preference. Jewelry definitely gives me more pleasure than the numbers in my stock portfolio (and besides, before my husband spends all our money on his hobbies …..
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Yes, one percent sounds a lot, but you have to start somewhere once. Personally, I see nothing wrong with investing a few percent of net worth in jewelry. But that's more a matter of personal preference. Jewelry definitely gives me more pleasure than the numbers in my stock portfolio (and besides, before my husband spends all our money on his hobbies …..
)
Another question is that I already have a nice jewelry collection and thinking if I really want to own a piece that expensive or is what I already own enough for me. I’m now thinking about selling a few items that I don’t fancy that much anymore and using the money towards something more substantial.I'm sure we've all had that uncertainty here. The first 10k bag, the first 50k watch....
Yes, one percent sounds a lot, but you have to start somewhere once. Personally, I see nothing wrong with investing a few percent of net worth in jewelry. But that's more a matter of personal preference. Jewelry definitely gives me more pleasure than the numbers in my stock portfolio (and besides, before my husband spends all our money on his hobbies …..
What are your husband’s hobbies?
Well, I've always done it that way. I have always separated from jewelry that I no longer liked. The taste changes with time (...and mostly not to the cheap side) and some pieces look good when you're young and don't fit anymore when you get older.Another question is that I already have a nice jewelry collection and thinking if I really want to own a piece that expensive or is what I already own enough for me. I’m now thinking about selling a few items that I don’t fancy that much anymore and using the money towards something more substantial.
What are your husband’s hobbies?
What does my husband spend his money on? Well, he puts a fortune into anything with an engine. Cars and race cars and boats and motorcycles and whatnot. So no mercy from my side. I'm far from balancing that anyway, but his guilty conscience about it at least helps me from time to time.
Hi. If you already have a nice jewelry collection, try to enjoy what you have since you are young in your 20's. People's taste do change with age. What you like now is going to change in 10, 20 years time. Speaking from experience, I wish I bought fewer pieces that truly will last a life time. I do not touch most of the jewelries I own with the exception of a few. Good luck on your decision.Another question is that I already have a nice jewelry collection and thinking if I really want to own a piece that expensive or is what I already own enough for me. I’m now thinking about selling a few items that I don’t fancy that much anymore and using the money towards something more substantial.
What are your husband’s hobbies?
Such a hobby can eat up any bank account, not easy to balance it with jewelryWell, I've always done it that way. I have always separated from jewelry that I no longer liked. The taste changes with time (...and mostly not to the cheap side) and some pieces look good when you're young and don't fit anymore when you get older.
What does my husband spend his money on? Well, he puts a fortune into anything with an engine. Cars and race cars and boats and motorcycles and whatnot. So no mercy from my side. I'm far from balancing that anyway, but his guilty conscience about it at least helps me from time to time.
This is very good advice. Especially as you are on the fence anyway. Tastes change, style changes, fashion changes. So many things that seem "classic" now end up looking dated in no time. I guess if you're okay with the idea of selling in the future, with no guarantee of being able to recoup much of the cost, and you would really enjoy wearing the piece (and would be able to wear it reasonably often), then it's still reasonable to go for it. But if you are still unsure, then maybe put that money into a fabulous getaway or that investment property.
We are already very far from “get this or get that” situation, and our own house and retirement savings do not comprise a really significant part of our nw. So it’s definitely not a question of financial stability, but more like “that’s a big number to spend at once, let me see what other people who also love luxury do”
Personally, I have been brought up since childhood to be 'frugal' and 'practical' all my life so far (I am now in my 50s). I am thankful to be financially secure enough now that I can retire if I want to... That said, I also realize that having nice things is fun, and I am working on allowing myself to have more of them. For example, I traded in a perfectly good Honda CRV for an Audi Q5 Quattro Sport, and it was soooooo big of a deal for me to allow myself something I can perfectly well afford (paid cash).
The balance is how much I will appreciate the new thing...I am still figuring out what this means for myself, and it is an interesting process! I appreciate this thread, because it is fascinating to read how other people feel about this too.
I think you should get the bracelet if you love it and enjoy the heck out of it!!!
I feel that we all know our spending threshold and where we should comfortably spend. That said, there is that one-off item that pushes the limits and makes us really wonder if we can afford it or not. I have that going on right now with a pair of diamond earrings for my next (big) birthday. I know I can afford them, I know I will love them, but do I really want to spend the money on them or just put it in my retirement savings (boring just to write that). I never thought to use my net worth, but I think 1% is a pretty safe amount as a guideline for most people. Just looking up the precise meaning of Net Worth: Your net worth represents how much wealth you have, measured by assets like a house, cars, 401(k), jewelry or cash in the bank, minus the debt obligations you have, or what you owe. When I use factor all the above in, I think 1% is reasonable. I also have to agree with other posters above, your age should be factored in as tastes do change a lot between 25 and 55. And jewelry doesn't hold it's value unless its a name brand (ie. VCA, etc). Anyway, just my random thoughts here, but if you really love it, can afford it, it's a classic, then get it!
I just caught up on this thread, and I want to say that % of net worth doesn't really make sense.
If you only have 100 dollars to your name, you maybe don't want to waste 1 dollar on anything.
However, if you have 100 Million dollars, spending 1 million on a bracelet is still fine. What are you going to do with the other 99 million anyways.
If you only have 100 dollars to your name, you maybe don't want to waste 1 dollar on anything.
However, if you have 100 Million dollars, spending 1 million on a bracelet is still fine. What are you going to do with the other 99 million anyways.