Not that I have any to give but how much money do you think is enough to have in your bank in order
to convince you to stop looking for deals/offers on sites like our Ozbargain ????
I mean everyone wants a 100 million but realistically speaking ?
How much money do you want to stop looking for bargains?
confusedhuh on 02/09/2015 - 14:45
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Copy #t=0m00s onto the end of the URL with the actual numbers in place of the 0s to link people to a specific time on a youtube video.
Never! 100 million would just fund my hobbies.
[though 'realistically' i would need a minimum of 800 million, minimum (studying aerospace, and thats how much you need in insurance just to launch a rocket)]Pffft…
I'm a Trillionair.
https://en.wikipedia.org/wiki/Zimbabwean_dollar#/media/File:Zimbabwe_$100_trillion_2009_Obverse.jpg
Have a read of Rupert Murdoch's reaction to a $10 Jacobs Creek jacked up to $110 -he scrunched up the chit, and demanded the butler put the cork back in the bottle.
Read the next page to hear what he does with the $3,500 Grange.https://books.google.com.au/books?id=LtgUk6XzNHUC&pg=PT35&lp…
Probably about 3 million.
Probably a few million
I don't reckon there is a dollar amount I would stop thinking about it. Warren Buffet has $50 billion and drives an older car and works for extra benefit for his investments.
I may stop worrying about end of the month budgets around $2m, I guessYeh I would probably check ozbargain once a day instead of 100 times if i had millions
its not about the actual savings here, its about how i feel when i know ive scored a bargain. will always hunt bargains, even if I wont 100 mill
It's not about the money, it's about why pay more for something.
its not about the money, its making sure Gerry Harvey doesn't rip us professional off!
Even if I was filthy rich id still shop around and look for bargains. It makes me happy to save money.
I think it depends, I saw it somewhere that if Bill Gates stop to pick up $100 bill, his time cost to pick up the $100 bill is more than that. So, at some point, your time cost will be worth more than the bargains found, which is the time to exit OzBargains.
But how will we know we need something unless it's posted on Ozbargain first!
If my time cost was worth more than the bargains found, I'd be getting paid to browse OzB!
I think what will happens is the rich persons will try to find a bargain elsewhere like buy undervalued companies or properties, rather than a smart phone or computer.
He said in an interview once that he would actually stop and pick it up, and donate it to the Bill & Melinda Gates Foundation.
If Bill Gates picks up the $100, he has an extra $100.
The time would pass regardless, and he would be the poorer for not actingNot if he spends the time taken to collect the $100 note on developing his business.
Not sure why this comment is upvoted, as it totally misses the point.. seems like most people don't know simple economics
It's not about "oh he's got an extra $100", its an analogy to exaggerate the point of opportunity cost i.e. the time it takes for Bill Gates to pick up the $100 bill, he would have forgone (e.g.) $10,000. So in his case it isn't worth it.
Or a more simple case: you are working and theres a free sausage sizzle outside, with a 1hr wait. Would the time it takes to wait be worth the cost of leaving work for an hour? Even if you have a free sausage sandwich?
If you're filthy rich, you're time is the most precious thing you have. Wasting time on saving a couple of $100 every year wouldn't be worth it. You could do some nice things in the same time, like driving around in your nice sports car, having a good time at the beach with expensive cocktails, sitting on your $30,000 jetski riding around in tropical Queensland, riding your $15,000 mountain bike/racing bike. Fvck bargains if you have a filthy amount of money. I wouldn't care if I pay $400 or $300 for my electric shaver. It's like 0.000001% of my money (or so).
I heard a story about him at the old TPG head office in North Ryde. There was a tear in the carpet in the entranceway to the building. Over time it just kept getting worse and someone mentioned that it was an OH&S issue coz you could trip over it. Teoh comes out of his office with some duct tape and tapes over the tear. AFAIK it's still like that today.
Me too, I heard it, must have been sometime the beginning of November a couple of years ago, 2013 maybe?
Don't forget the famously frugal, self-made billionaire founder of Ikea, Ingvar Kamprad.
Cheap-skate billionaires are actually more common than people think.
Interesting read
Wouldn't surprise me if this is because of his up bringing. When he was younger was probably so poor, that at times food would be considered a luxury. My neighbor is a billionaire but he is the biggest tightarse ever, only believed the other neighbors claims he was worth $1bn when I googled him.
Made me sick, when we chatted to him and he would complain about money in relation to small things.
I'm already at the point we're the time I spend looking for bargains is worth more than I save, so I guess there's no end to it…
Probably when I lose money from looking for bargain due to opportunity cost (when I could gain more money by doing other things than to look for a bargain). That said, even if that happens, it doesn't mean that I cannot be a tightarse while doing that.
So, I guess I don't have an answer on relating to how much I have, but how much I will be earning per hour (and how much I will forgo by looking for the bargains).
As Kramer put it: retail {price} is for suckers.
He likes to stop at the duty free shop also.
5 mil total wealth would be my figure (not just bank, but property too)
I'll always be looking for best value and bargains :)
Rich people don't get rich by paying full price is what I think so NEVER!
Looking for bargains & negotiating a good price is just in bred. The happy adrenalin rush of scoring a good deal can never be matched. No matter how wealthy my bank balance & property ownership could ever be, the need to find a bargain is so deep would never leave.
Ummm 1 million dollars.
No, make that 100 billion dollars.
100 billions dollar say at low low interest rate of 2% = 2 billion per year in interest income or $5,479,452 per day or $3,805 per minute, I am quite sure I will struggle to spend that much money, so wouldn't bother to find a bargain. Buy what I wants and be happy.
When Sam Walton was the world's richest man he was seen haggling the price of a Ute.
If I had a few million, I'd have more time to look for bargains.
scotty mentioned ages ago that there was a disproportionate amount of people in the highest income brackets on ozbargain
[citation needed]
How does Scotty know? There are no questionnaires to fill in when you sign up. Even if there were, people are never completely honest. There are also a lot of people that frequent ozbargain that never sign up anyway.
Quantcast?
I wouldn't have a clue how much people earn and the proportion of high income earners, but I would not be surprised that there are many amongst us.
Reason? As many have already suggested in the comments, the amount of money people have does not really affect their thriftiness. Rather, people being frugal might actually help them building up their net worth.
/me puts Foot in mouth.
There was a poll a few years which asked for income amongst other things. It was somewhere here
Similar to Aldi shoppers I would imagine. Been a few news articles about them having a lot of high income customers.
There's an interesting book on this topic. The Millionaire Next Door I think it was called.
Do I hear a suggestion for an Ozbargain census?
Nice one! I'm still wrong thought because the highest income bracket is >180k
Those stats were taken from "Google AdPlanner", which has discontinued its service, which I have no idea where they got the data from.
However there are definitely much data trading around. We have been approached by quite a few digital agencies wanting to do co-registration with us, and I have seen lots of those capturing people's data (usually via "complete this survey and win big prize") on other websites.
Bargains are for life no matter how much money I have, it's my way of being
for me looking for bargains is more a hobby than to actually save money.
If i wanted money, I'd just spend the hours Im on ozbargain doing something productive / income generatingIt's all about bang for your buck
Eg BHP looks for bargains when buying smaller mines.Haha like some others have said, it doesn't how much money I have. Bargains are a way of life! :)
There are plenty of rich people on OZB, to be honest I think finding bargains and buying bargains are more of an entertainment.
Saving money is more of a second priority.even if I was filthy rich I wouldn't stop looking for bargains.
I doubt my spending habits would change very much anyway.
though if I was traveling in a poor country I wouldn't haggle as much.
You make money by buying smart, not always the cheapest. And then there is always the satisfaction that you have done well when you get a product or service at a bargain price.
You made 0 dollars though …
you make money ($15) from AMEX deal by buying WW group giftcard (Dan Murphy's), then use the giftcard to top up your Opal (NSW).
I hate saying this but its not about the money. Its about the thrill of the chase. Its about getting one up over a company.
eg. I bought that $19 vodafone 3g thing from harvey norman with 8Gb whatever.
It kinda made me laugh when the guy put on the receipt that normal price is $39 for the 3g device and $75 for the 8Gb data…. for $19! from harvey norman!
It's the only time you'd enter HN ;)
Its about getting one up over a company.
By purchasing their product on special?
Yep you really stickin it to the man there sir.
and yeah apparently now buying stuff on special based on an ozbargain post is no good, says some on ozbargain
go you
Yep. This. I'm only happy if the sales person's eye is twitching as they reluctantly put my item through after checking 3 times that it was actually meant to be that price.
5 mill will do the trick
I was discussing something similar with someone the other day, although this was in the context of how much money would I have to make to spend money on business/first class tickets over economy. I think I settled at $500k/year haha. I don't know if any level of income would stop me looking for bargains though.
Once a tightarse, always a tightarse. (: (with pride)
Looking for bargains is a hobby for me, regardless of how much money I have
You are never too rich to to be cheap :)
I don't think you'd stop looking for a bargain. You just look for bargains on higher end items. 50% off the price of a Gulfstream is still a bargain
Even if I was worth $100m, I would still use Dominos coupons.
Fat and rich.
I'd certainly become a different kind of penny grubber at around the $2.5m mark. I'd still book cheaper flights, but they'd be cheaper business class flights instead of cheaper economy flights. Economies of scale and whatnot.
I'd buy my own plane and have my passengers pay for my trips (air taxi).
If I had $2.5m in the bank, I still don't think I'd buy business class tickets. Maybe with $5m+… not sure.
With $2.5m free and clear I'd be pulling down an average of $100-$300k/year (depending on the economy) on safe, blue chip style investments alone. Add in a regular income and my fairly frugal lifestlye and my pot would continue to grow, even with a couple of decent holidays a year travelling bargain business class (probably wouldn't spend more than $4k on a Europe or USA return ticket).
Funnily enough I would probably never stay in expensive hotels though. I've never liked them much, they've got no character, and my goals while travelling are to be at the hotel as little as possible.
Unless you are one of the nouveau riche by accident or by doing illegitimate stuff, I think you will keep on continue living your life as normal. However, you would soon have new things you like and buy, that you would not buy otherwise
I personally still dont think fancy 200k car is my taste and better than my normal 30k car. But I spare some money on new hobby I would not dream spend my money on during my uni year. This would be like antiques, mechanical watches and the like. I would also still go around to those cheap oily chinese shop when lunch alone even though in the evening will need to go to those $150 a head restaurant to entertain customers. Its not the money, its the feeling of being you and being familiar with who you are.
If you are born super rich and get to drive ferrari for your first car then it would not be comfortable for you to drive mazda or honda wouldnt it? Same thing the other way around I guess
To be honest lifestyle dont change much but more things you now need to take care, compare to before. Same thing with those cheap billionaire. They would use old car and the like but still they have private plane because they need it to run their lives.
I think I will stop ozbargaining once my life schedule overtake my time completely. At the end of the day there are only 24 h in a day.
The only reason I don't drive a $200k car is because I can't afford one!
No point saving money if you can spend it on something that you appreciate, but then again I like cars.
As some of us have said, it is about finding the right and reasonable price for a service or product. Even uber rich people look for a good bargain, they just don't get fixated on a few dollar difference in prices like us ozb'ers. Cheers.
i always buy discounted products not the retail price and bargains are really into me..
I don't know if I can put a price on the satisfaction after successfully stacking several bargains from OZB.
how much money do you need to spend on every bargain deals that appears on the front page of ozbargain?
If i had enough money to retire, i would end on ozbargain even more!
Nice way to go out.
Is this a test to purge OzBargainers that are not loyal to the cause?
conspiracy theory?
When the effort required to research & save a few $$ is more than the savings.
However with ozbargain around i don't see that happening :D
I'd probably never stop looking for bargains or shopping around. I think being wise with your money is a good thing. I certainly think there is a point where you can go too far, but if you are buying a product, looking for the best deal is good.
Until I'm rich enough to pay someone to find me bargains.
OZB advises you; that OZB is the cheapest entity to pay to find you bargains.
If I had several million I'd probably be less interested in spending the time looking, but lets face it no one wants to overpay no matter how much money they have.
My mate at uni and his family are extremely wealthy and he and his mum are the biggest scrooges. I went to his house and his mum wouldn't turn on the lights or the heating when we were freezing our pants off on their tiled floors. He dresses like a bum too and people think he grew up in the country.
His mum buys 2 ply toilet paper (cheap kind) and gives him an allowance. She only buys clothes for him during sale time at Myer, Target etc.
They drive me mental.His dad on the other hand is a big spender.
Its not about how much you are worth, but how much your time is worth, if you are spending a dozen of hours to save 50% off an item that costs you $200 retail, but end up getting it for $100, but you make $50 an hour, thats $600 worth of your time you wasted to save $100 of your money. I would say your question has no meaning, its just an arbitrary number.
It cost me $6 reading this comment.
Exactly, it's stupid to drive around looking for cheap gas when the time spent and money saved equates to "earnings" of that below a minimum wage worker. It's not worth it, unless you enjoy the thrill of cheap gas.
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Realistically 100 million