What Things Are Just Not Worth The Money?

Was chatting to a Rich old bloke today who owns a Ferreri he is in his 70s and has had this car in his man cave for decade that essentially he never drives, he admits the car is over a decade old and has less then 5000km on the odometer….

He was saying a annual service could easily hit 3k and my reponse was but 'you never drive the car…why what is the point'

his reponse is 'i cant drive it around here becuz id be too scared to park it and leave it' [Western Suburbs of Melbourne]

i said fair enough but it seems kind of 'pointless and expensive'

what shocks me is this guy is 'wealthy' but he is also a giant cheap skate so for him to blow money on this had me a bit shocked

Got me thinking what do you own or what do other people you know own or blow money on that you just think what a waste of money…..

Comments

      • Purchased mine 2019 and it was extremely difficult to sell end of 2020. Depends on the manufacturer. I even had it listed on Camplify and had successful bookings but it was to much effort. But yes its a waste of money, just get a tent and a 4WD.

  • his reponse is 'i cant drive it around here becuz id be too scared to park it and leave it' [Western Suburbs of Melbourne]

    Why doesn't he take it on a day trip somewhere nice that you can park it?

  • +25

    Buying gift cards off strangers to save $20 then getting scammed and complaining about it.

    • +1

      I did this 3 times before I learnt my lesson.

      Hard headed stubbornness has made me had to learn multiple dumb lessons this way.

    • Yup learn't my lesson with steam gift cards some years ago.

  • +2

    House/Apartment in Sydney (unless you already own it).
    $1.5mil for absolute crap, no thanks, tarp and a park bench.

    • I'm sure there are poorly built properties all over Australia. IMO apartment buildings need to be build to the same standard as five star hotels in Australia to justify the price.

    • What's the rent for a park bench in Sydney these days

      P.S Can I sublet one to make it more affordable ?

  • +12

    Frank Green water bottles.

    • +15

      That reminds me - bottled water from the supermarket etc.

      Although I will admit, it's marketing genius. Making people believe that they need to buy water rather than get it from the tap in Australia is some serious spin.

      • +2

        Bottled water does have a specific niche market: taking water with you to an all day concert. Rather than spending $5 per bottle, I take 50c supermarket bottles. Can't take your own container filled with water as security thinks you're smuggling vodka.

      • +2

        There are many parts of the world, and many places across Australia, where tap water is literally not safe.

        Buying bottled water when you live in an area where the tap water is safe (not to mention delicious), yes absolute scam, but for many people it’s their only way to get drinkable water.

    • And their reusable coffee cups, absolute trash design yet very expensive also.

  • +18

    Anything Uber eats and other food delivery services.

    • Every time I order food and get it delivered something is wrong. I won't even get pizza delivered anymore!

  • +1

    Yeah I once read a series of articles by Doug DeMuro who briefly lived their dream of owning a ferrari before selling it because of all the hassle around it (expensive to maintain/repair, expensive to garage, difficult to find somewhere to drive it and enjoy it). It was really interesting to hear about all the 'hidden' and indirect costs that you don't really think of.

    • +3

      FYI Doug has since bought and owns multiple supercars including a Carrera GT and a Ford GT. So clearly the benefits are still there for him.

      • Cool I hope it's working out for him.

        • +1

          He just sold a sold a stake in his online auction platform Cars and Bids - he’s legitimately wealthy.

  • -5

    What does it have to do with you?

    His car. His money. His life.

    • +7

      I think he's just trying to start an interesting discussion in a forum for discussion

  • +1

    You can afford things in life you want or desire by not wasting money on things you dont think are important.

    Where you think his being a cheap skate is up to interpretation.

  • +3
    • kids designer clothes
      parents who buy ralph lauren clothes for kids who grow out of them in 6 month or so. Why would you buy a $300+ plus jumper to only be able to wear if a few times?
  • DSLR and Expensive lenses (not professional photographer).

    • For holiday happy snaps or posting stuff on eBay, a DSLR with good lenses is a luxury item.

      But if you take photos for a living, cheap lenses make a huge difference. The edges of photos are blurry, especially on high contrast objects. Sharpness overall is lower on an 'all in one' lens. And then there is the barrel distortion.

    • I bought my DSLR and lenses years ago, when phone cameras were awful.

      My DSLR still works perfectly, and I don’t have to upgrade it my phone just so I have a camera that looks nice. It was a decent long term investment.

    • A cheap DSLR and a decent but affordable lens IMO is a very good use of money (provided it's used regularly). Lenses tend to hold their value well, and the photos I get out of them are so much better than what I can get out of my phone.

    • with everyone moving towards mirrorless camera system. Cheap DSLR bodies are hitting the used market.

    • Taking photos on an actual camera is far more enjoyable than using a phone.

  • -5

    All the people that drove up inflation buying holidays and new cars . Add all the people who filled every major event after Covid .
    Now they have a cheek to whinge about $1500 more added mthy to their mortgage.

    • +2

      If you actually think this, that's sad.

    • +3

      I'd be fascinated to hear your theory of how spending money on holidays and cars drives inflation.

  • +10

    Expensive watches. A cousin recently showed off his $15k watch. It looks nice, but if you don't look closely you wouldn't be able to tell the difference between it and a $200 watch.

    Gambling. All forms of it. You're always fighting a losing battle against the odds.

    Expensive wine. I've tried a fair bit of Grange, and while it's very good, there is nothing about it that justifies the $700+ price. Wines costing $30 can be just as good.

    Boats. My employer bought one, and spent a fortune on maintaining and insuring it. Rarely used it. Boat was sold a few years later.

    But hey, if you want it and can afford it, I say go for it. You do you.

    • +3

      If you can't tell the difference between a 15k watch and a 200 watch, i think that's really just you.
      Many watches appreciate in value so it's not necessarily a waste of money.

      Once again there is no way a 30 dollar bottle of wine will taste as good as a 700 dollar bottle. You probably just dont have the taste palate to pick up the difference. Grange is definitely overpriced because of hype but what you claim is exaggeration of the century. With wine, you mostly get what you pay for and there really isn't a massive bargain to be had out there.

      • +1

        'you … get what you pay for'

        ah - the catchphrase of spruikers of dodgy deals of overpriced products or services everywhere.

        'How come it's so expensive ?'
        'You get what you pay for !'

        The other day a friend shouted me to a very expensive meal at a very fancy restaurant.
        To me it was not as good as milady would cook for me at home for 1/50th of the price.
        And the followup memory - midnight wakeup with stomach pain, time on the toilet, a straight flush, and tender belly for the next 24 hours - ah, the feeling of luxury !

        • ok, you use your one dining experience and say "you get what you pay for" is wrong lol not the smartest logic there

          Maybe you just have a friend who picks bad, overpriced restaurants.

          • @dji1111111: 'you use your one dining experience and say "you get what you pay for" is wrong lol not the smartest logic there'

            you use my one anecdote as the sum total of my life experience ?

            not the smartest logic there

            • +1

              @Hangryuman: Always exceptions but it's far more accurate than your very flawed logic, not to mention ill cultured people don't even have the taste palate to appreciate delicacies and nice food. Give someone who's lived on fast food and meat & vege things like caviar and truffle and they will just chuck it out

        • Did you also factor in your rent/mortgage, electricity, your lady's hourly rate (as she could have been working and earning money instead of cooking), gas, council rates into your calculation that it cost 1/50th of the price?

          As the food cost itself at a restaurant is a very small portion of what you're paying for when eating out. You are paying mainly staff salary and rent for the privledge of eating out.

    • Rolex is a different breed especially if you bought it at MSRP. Buy to sell in a few years time :)))

      • Where can you get a Rolex at MSRP without a 5 year wait?

        • Depends what model you want. I got a no date sub in 4 months (with purchase history). My friends got an OP41 black in a month without a purchase history.

          • @xaykogeki: What a wank. You can buy a watch at retail price and wait months for the privilege. Is that really what you focus on in life?

            • -1

              @JelIyfish: Yes the privilege is because it's hard to buy second hand price is higher than brand new. Is that wank? No. Better than speculative investment actually

  • For me right now most drinks I buy is not worth it. Water is cheaper and healthier. The only thing that might be good for me is sports drinks but that is barely worth it pushing it into valuable territory.

    Yeah food and drinks is a hard one to manage but I would save so much if I got a handle on it but everyone has a vice.

  • +1

    Flagship phones. "Designer" clothes. Expensive cars.

  • My next door neighbour sold his Ferrari 355 last year.
    Cost him $90K. He estimates he spent about $25K on it in the 7 years he owned it, during which he drove around 3500km in it. It needed a new clutch and a driveshaft and, he reckoned, tyres. Quote for the job was $20K from a dealership, which then offered him $120K on the spot for the car, as is. Shook hands, the money was in his account the same day.
    Terrible car. A TERRIBLE car, but he made money on it.
    Now happily drives around in a top-spec Hyundai.

    • I would've considered it… Was it a manual or dodgy "F1"?

    • I once had a couple of vintage cars in storage. They got stolen.
      I didn't quite get to enjoy that potential growth in resale prices.

    • +1

      They got scammed. A F355 is worth well over $200K. Beautiful car but famously expensive to maintain that particular model

  • Bottled air

    • +6

      not if your underwater.

  • +1

    Reason you think it's expensive is because you can't afford it

    • +1

      That's what i thought when they increased 7 eleven coffee prices

  • Poverty island is now the first place where Tesla will no longer sell their 3 motored cars.

  • +6

    Many super cars do appreciate in value if in good condition

    Eating out all the time, food delivery like uber eats, daily $5+ coffee at cafe is a waste.

    • Old expensive cars are a pretty good investment. I have seen multiple stories of them outperforming the stock market in the same period by quite a lot.

    • Yes, they appreciate if in good condition. Which means you can't drive them. But don't drive them too little, as you can't just leave a super car for a decade and expect it to be in top condition.

      Now include everything biting into the profit if you sell the car:

      Maintenance
      Insurance (you're not going to have a $300k car and not insure it, right?)
      Somewhere to store it (an indoor garage is not free)

      By comparison, shares cost nothing to keep, and if you buy the right ones you'll get dividend pay outs twice a year. The car pays nothing while you keep it.

  • +7

    Grog, Smokes

  • +3

    It doesn’t have to be a Ferrari. I think any European car is a waste of money. An idiot’s car, I made the same mistake once too, I have been that idiot.

    • I’ve owned my second hand Golf for quite a few years now and it’s given me no drama. Don’t know what you purchased but I still love this thing.

  • +1

    Private schools

    • If your kid is mediocre or lazy, yes. Otherwise, no.

      • Honestly mate? Frankly If your kid is mediocre or lazy the private schools can hot house them. It is the kids who come up through public schools that earn their place. The studies at uni show this. Public school kids are used to doing it for themselves.

        • +4

          That's a common misconception.

          Private school kids are entrepreneurial and generally more successful in life.

          If it was as you say, nobody would spend the insane about of money private schools charge.

          Private schools provide access to a lot more than public schools offer.

          Uni degrees are not equal. Arts degrees are a dime a dozen.

          Honestly, both me and my bank account would love for you to be right!

          • +4

            @imurgod: Me and my bank account show you I’m right. Public school kid. I’ve got two Science degrees, one in Digital technology. Worked in IT all my life. Retiring with a pretty good amount in Super and shares and owning my own home. My lovely other half is the same.

            Private school kids are more “entrepreneurial” when they have bank of mummy and daddy behind them and the “old school” ties.

            • +1

              @try2bhelpful: Ahhh so it's just sour grapes. Got it.

              Your measure of success isn't the same as mine.

              That said, public schools have become worse and there's no incentive for kids to strive anymore so they accept mediocrity in life.

              Not to mention the influence from the kids from the dregs of society.

              I'm happy that you achieved your goals. Honestly, it's great but I deal with thousands of different businesses in my line of work and I see the networks.

              I know I'm doing the right thing for my kids and I'm sure you're doing what you perceive to be the best for yours.

              • -3

                @imurgod:

                Your measure of success isn't the same as mine.

                If having pod coffee is your measure of success, I think your private school might appreciate it if you refrained from name dropping them…

                • @2024: You got me! A deal from 2019 about a coffee machine settles it.

                  Hell, I bought 2 properties since then ha ha!

                  Your life isn't sad at all, don't worry about what everyone says.

                  • +1

                    @imurgod:

                    Your life isn't sad at all, don't worry about what everyone says.

                    I can only assume that probably had more impact in your head than it does written here?

                    I won’t tell you how many properties I’ve done - you already seem a little vulnerable and defensive

                    • +2

                      @2024: I can't believe coffee has upset you this much.

                      All that digging around and your big revelation fell flat.

                      Nevermind, I think it went really well :)

                      • @imurgod:

                        I can't believe coffee has upset you this much.

                        It hasn’t upset me, stop projecting please.

                        I actually fully support your choice to send your kids to an elite private school, on the basis that it includes boarding, and your opportunity to influence their growing minds is greatly reduced.

                        • +1

                          @2024: It's cute how you really believe that you set the conditions upon which I can send my children to school.

                          Thanks for the advice.

                          • @imurgod:

                            It's cute how you really believe that you set the conditions upon which I can send my children to school.

                            It’s cute how your comprehension skills reek from your past.

                            I have not set the conditions upon which you send your children to school. I have set the conditions of my support. Big difference.

                            • +2

                              @2024: Well, I have to say, I have been up at night wondering if I had your support or not.

                              • @imurgod:

                                I haven't worked this hard to not build an empire.

                                Oooo wow

                                I'm not sure which empires you've had experience with but I know of a huge amount of empires that are anything but failing.

                                You keep mentioning this empire.
                                Please do tell more details, kind and supreme deity. I am astonished and regretful that we are not immediately familiar with your empire, our omnipresent holiness. Please forgive us.

                  • +2

                    @imurgod: My God, you really are that shallow aren’t you? I can just imagine the influence the private school will have on your kids.

                    • +3

                      @try2bhelpful: I'm shallow?

                      Who started off with this pearler?

                      "Me and my bank account show you I’m right. Public school kid. I’ve got two Science degrees, one in Digital technology. Worked in IT all my life. Retiring with a pretty good amount in Super and shares and owning my own home. My lovely other half is the same.

                      Private school kids are more “entrepreneurial” when they have bank of mummy and daddy behind them and the “old school” ties."

                      Face it, it's just tall poppy syndrome. Bitter people who abhor the success of others.

                      • @imurgod: The difference is I don’t consider you a tall poppy. You are the one denigrating my achievements. All I was pointing out was you don’t need to go to private schools to have a successful career.

                        • @try2bhelpful: I agree with you. As I said, I went to public school.

                          I'm just trying to provide more opportunity for them than I ever had.

              • @imurgod: Why would I have sour grapes? You were the person who thinks that only private school kids get on. I’m proof it isn’t necessary to spend all that money. That if your kid is worth their salt they don’t need to go to a private school? You are making some pretty big generalisations unless you have been in a public school.

                It doesn’t sound like you are very perceptive in the thousands of businesses you deal with. Unless all you see is private school kids. So what you are talking about is networks and not ability. I could see that might be the case. Can’t let the commoners get a rung on the ladder what?

                You are doing what you perceive to be the right thing by your kids. It might be interesting to see what happens later in life when they have to make it in their own, or do you expect the networks to save them? Evelyn Waugh has a bit to say about that.

                • @try2bhelpful: I went to a public school.

                  I just gave the means to provide better than I got. More opportunities, strong networks, etc. I see the results ever day in my work.

                  You assume that private schools coddle the kids but the opposite is true. They are pressed to be independent by year 5.

                  I'm not trying to argue with you. I'm merely a dad who is doing the best I can do for my kids as I imagine you are. We just perceive the value differently.

                  • @imurgod: Then why the bile you dumped on public schools when you, probably, have no link with them? I have friends who’ve been to private schools and have sent their kids to private schools. I have friends who’ve been to public schools and sent their kids to public schools. The private schools do tend to hot house the kids to get the higher tertiary entrance scores. It is what they use for advertising.

                    Frankly if you want to do best by your kids then teach them that the school they went to should mean nothing. That the best person for the job is the important thing. That people should be judged on their ability not their money. That getting to University is a privilege and they should make the most of the options they are given. Teach them compassion and social obligation.

              • @imurgod: BTW what is your measure of success? It appears to be “old school tie” and “snobbery”. My parents didn’t get past 4th form and my siblings and I got to tertiary education despite going to public schools. We have all had good careers, our own homes, and are retiring pretty comfortably. My brother is a STEM teacher in a public school that suffers from none of the prejudices your jaundiced view seem to have.

                Honestly I’ve never read anything with so much bosh in my life. You are a rank bad hat.

                • @try2bhelpful: And that stuff is fine for you.

                  We're different here. You are happy to settle for comfortable but I haven't worked this hard to not build an empire.

                  If you're happy, what does it matter what I believe? Do you.

                  • @imurgod: I hope you are being facetious with “build an empire”. If not then you don’t know how really sad that sounds. Frankly I am happy with what I’ve achieved. I don’t need to impress others with “bling” to affirm my life. Building “empires” generally hasn’t done so well in the past, they tend to fail.

                    However, do whatever makes you happy. Maybe spare a thought fir what makes your kids happy as well.

                    • @try2bhelpful: My kids' happiness is the centre of all that I do. If it was not what they wanted, don't you think I'd save the money?

                      As you said, you don't need bling and are happy to settle with where you are and you're happy. That's actually great.

                      I am well on my way to building generational wealth and I'm able to afford to provide things for my kids that others can't.

                      I'm not sure which empires you've had experience with but I know of a huge amount of empires that are anything but failing.

                      • +1

                        @imurgod: Find me an empire that hasn’t failed, eventually. Even calling it an “empire” is just a tad grandiose; unless you think you are creating the next Roman, Ottoman, etc conglomerate of countries.

                        Look at the rich families and find me ones where some of the kids don’t have “issues”. Ready access to money also includes the temptation to destructive behaviour.

                        Frankly you sound like you are trying to justify the expense of sending your kids to private schools by denigrating public ones. If you look at the behaviour of some of the students in some of those private school institutes they aren’t great environments for people who don’t conform. They can be a tad “Lord of the Flies”. The point about the networks is why I would prefer government funds not go to private schools. People should have a job based on merit not who they went to school with.

                        I do wish your kids well whatever their future is.

                        • -1

                          @try2bhelpful: Sorry, the use of the term "empire" was grandiose on purpose.

                          I just mean a family with wealth behind them.

                          Might've not been very clear there, sorry.

                          • @imurgod: I think the word you were looking for is “Dynasty”. Of course then you have to get oversized shoulder pads and perfect the “dagger look”. :)

                            The point I was making is that you don’t need a private school education to be successful. Frankly that whole sector needs a really good shake up because, in a lot of cases, the wrong people are running it. Like too many things various Governments have outsourced their responsibilities. If there wasn’t tax payer money involved then fair enough, but there is. Schooling should not be about snobbery and it should have to adhere to societies expectations and laws.

                            Actually this discussion has reinforced my decisions on my own life. It isn’t all about the money and prestige. Your success in life isn’t just measured by ever larger amounts of material wealth. That there is something that is “enough”. From what I’ve been able to glean from my reading we would be considered “wealthy” even if I wouldn’t class myself as such. We worked hard and now we are living how we want to. We didn’t need an old school network to get there. Looking back I’m glad I didn’t go to a private school.

                            • @try2bhelpful: Shoulder pads and big hair

                              • @imurgod: Absolutely. Sadly I’m old enough to remember it the first time around. The 80s has a lot to answer for.

                                • @try2bhelpful: I have fond memories but I agree!

                                  Have a good one.

                                  • +1

                                    @imurgod: You two are hillarious.

                                    That said private school is worth it for the connections the child will have from the friends they make more so than for the benefit of a better education.

                                    • @dowhatuwant2: both private and public schools have trained "successful" adults and idiotic ones. These 2 being the latter example.

                                      "success" is subjective.

                                      Isn't it clear, it's not all about the school. It's more about the individual themselves.

                                      • @SpicyStew: That is my point. You can’t denigrate people who go to public schools because their parents aren’t rich or have that ideological bent. Most public schools aren’t hell holes with knife fights in the corridor. Kids go to uni, and onto successful careers, all the time.

                                        It is about the kid and the parents pushing them on. My parents couldn’t afford private schools but from the time I was in Kindergarten they were determined I was going to Uni. Nothing was more important than my schooling.

                                    • @dowhatuwant2: Funnily enough most of the people I know who went to private schools wouldn’t be seen dead with their old classmates. Then again they went into IT rather than real estate or politics.

                                    • @dowhatuwant2: Whenever this issue comes up the obvious question is - how many successful people went to public school and how many went to private school.

                                      Inevitably there will be examples of people who went to 'public school' and a quick search tells you its a selective entry school which is harder to get in than an elite private school. Even had a clown of a manager humble brag that they went to 'public school' - Melbourne High School (i.e. the top high school in the state).

                                      Unfortunately it's hard to accurately determine the benefit of private school, it's a biased sample- parents who value education aren't sending their kinds to the local public school if they can afford not to

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