What Things Are Just Not Worth The Money?

Trying2SaveABuck on 02/05/2023 - 22:37
Last edited 03/05/2023 - 10:24 by 1 other user

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…..

General Discussion

Comments

          • tonka on 06/05/2023 - 11:21
            +1

            @imurgod: Aren't private schools best value in keeping your kid out of a peer group where everybody strives for a Centrelink career playing Fortnite? I'm not saying there's not great and smart and driven kids at public schools, but there's not generationally unemployed in private schools. I've met a few hard-working parents puzzled at their kids complete failure until until they looked at the peer group influences.

      • ankor on 07/05/2023 - 07:16

        If the kid is mediocre or lazy, a private school isn’t going to solve everything. Wouldn’t it be better to just put the private school fees into an etf and then tell the kid later?

        a kid who is lazy or mediocre just needs encouragement and inspiration. Why not try enrolling them into a number of enjoyable extracurriculars that build character?

    • squaredonut on 04/05/2023 - 09:29
      +10

      I'm not a fan of them, but it's hard to say if it's worth it or not.

      If you live in a very bad area where all the public schools are full of unmotivated people, your only option is a catholic or private school where you are at least around people who care a bit more than people in public school.

      But if the public schools around you are fine and kids are pretty normal, I'd choose a public any day.

      If your wealth and status is just not up to par with private schools, it will struggle as well, you will struggle to keep your kid on the same level as the other kids, and how could you compare with the richer parents anyways.

      The ultra elite private schools I think they really just exist so that the kids can have the best experiences, facilities and what not, and also hang around the same richer kids as them. Also I guess in high school it's primarily a networking thing so that in the future they know that Joe Blow, who is now the heir to his father's dodgy developers company.

    • exit on 06/05/2023 - 10:44
      +3

      I’m a statistically top 1% student from a non-selective public school.

      Whether public or private depends on the student.

      Private schools push the average kid a lot harder to do well but if you already have the discipline and focus that is not a major advantage.

      Private schools also have a lot more facilities and extracurriculars to develop the soft skills and make someone a lot more well rounded. This helps a lot as employers nowadays are looking more for great marks so getting exposure to these activities early on is a major advantage for job apps

      In addition, networking is a lot better as barely anyone from my public school did anything similar to me in terms of degree, but there are countless cohorts and group chats (probably) of private school kids in the same course motivating and helping each other. Here I would argue that the premise that private school kids are not set up well for uni is overrated (depending on what course you do). Of course, public school kids can achieve the same networking by being involved in uni clubs etc. meeting people but from my experience, private school kids are advantaged in terms of being able to ‘fit in’ into these clubs.

      TLDR: Technically a public school kid can do just as well, but the ODDS of them being able to do so is a lot lower.

  • Hearthstone on 03/05/2023 - 16:49

    This is a one man trash is another person treasure sort of thing.

    You don’t like expensive phone think it is a waste of money another person think otherwise

    You don’t like gym and think it is a waste of money another person think it worth it

    The list goes on and on

  • opt on 03/05/2023 - 16:51

    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'

    An old Ferrari in a good condition can fetch quite a lot in this market. For example the cheapest Ferrari in VIC on CarSales right now is a 1987 328 listed for $150k, the most expensive is a 2002 575 listed for 1.1million ! Collectable cars appreciate a lot more than $3k a year. So that is the point ;)

  • hopper on 03/05/2023 - 17:41

    ATO specific apple giftcards
    Wedding ring

  • hasher22 on 03/05/2023 - 18:15
    1. Natural diamonds, go get lab diamonds if you want to ride the marketing behind diamond rings.
    2. Getting a new phone each year when you don't need it. Just cause it's an 'upgrade' doesn't mean you need it.
  • Cherry12 on 03/05/2023 - 18:24
    +4

    Food delivery, way overpriced. I use it only when sick.

    Daily coffee from a coffee shop. I drink daily coffee but make it at home.

    • [Deactivated] on 04/05/2023 - 13:52
      +1

      When I WFH (most days), I buy a coffee from the local café & thereby support a small business.

      • greatlamp on 05/05/2023 - 18:28
        +1

        You can also support small business buy buying coffee beans :)

        • [Deactivated] on 05/05/2023 - 18:32

          Then I would have to outlay a significant sum to buy a proper coffee machine

          • greatlamp on 05/05/2023 - 18:34
            +2

            @[Deactivated]: I use a moka pot ($60) and a manual grinder ($80). Still superior to capsule coffee. I know some people here spend $100 on a piece of steel to tamp their coffee, I'm happy to use the back of a spoon.

            • [Deactivated] on 05/05/2023 - 18:37
              +1

              @greatlamp: But I like the kinda coffee the barista makes & the café machine looks exxy & is H U G E & we're rather low on available kitchen bench space

              • greatlamp on 05/05/2023 - 18:43
                +2

                @[Deactivated]: That's fair, a real coffee machine costs around 5k (one that you could fit on your bench) so you will probably not pay it back. They also need to be serviced. The consumer grade stuff (Breville) are just toys.

                • [Deactivated] on 05/05/2023 - 18:50
                  +1

                  @greatlamp: Yes! Toys & another service expense.

                  I also have no wish or want to learn to make a decent coffee on a coffee machine so the café benefits from my non-barista ways.

            • [Deactivated] on 05/05/2023 - 19:38

              @greatlamp: Hey, what types of coffee can you make using a moka pot?

            • quikchip on 06/05/2023 - 01:54

              @greatlamp: Try aeropress. I make a large batch of coffee once every few days using it.

  • imurgod on 03/05/2023 - 18:31

    A Ferrari is NEVER not worth the money.

    • Brick Tamland on 06/05/2023 - 18:04
      +1

      Yep, Pretty much every single model increases in value. Maybe the California has not increased?

  • R4 on 03/05/2023 - 19:23

    Gambling.

    A Wayne Kerr's pursuit.

    • EFC94 on 04/05/2023 - 12:44

      It’s not gambling when you know you’re going to win.

      • R4 on 04/05/2023 - 14:08

        Err, okay.

        I think.

  • zombie hunter on 03/05/2023 - 19:36
    -1

    Jv fans only subscription

  • oaks101 on 03/05/2023 - 22:09

    Road side assistance.
    PS5.

  • 2024 on 03/05/2023 - 22:43
    +5

    Monster HDMI cables

  • Ghost47 on 03/05/2023 - 23:10

    Teslas.

    • tetsuma on 05/05/2023 - 13:56

      Are you sure? A model 3 isn't that far off most other brand offerings now if you're buying new. If you're on a lease, there's no battery concerns and less maintenance? Not to mention the ride quality is quite nice. They're rather plainly but who cares when you're driving it?

  • dlakers3peat on 03/05/2023 - 23:32
    +8

    Diamonds. Biggest marketing scam ever.

  • fredk1000 on 03/05/2023 - 23:52
    +2

    The Ferrari would be an investment, appreciating in value. Low Kms.
    So I don't think he blew any money.
    Though it depends on model and how old it is.

    Hey I have a car in the garage, been there taking up space for 10yrs or more.
    Can't bear to part with it.

  • BartholemewH on 04/05/2023 - 07:07
    +1

    BOAT - Bust Out Another Thousand

    • try2bhelpful on 04/05/2023 - 07:46

      I heard Yachting described as standing under a cold shower and tearing up $100 bills.

      • Trying2SaveABuck on 04/05/2023 - 08:46

        I heard Yachting described as standing under a cold shower and tearing up $100 bills.

        I think 'tearing up' Australian 100 dollar bills would be 'fairly difficult' due to them being made of plastic

        you can loss your money yachting far easier and faster

        • try2bhelpful on 04/05/2023 - 12:41

          You are probably right. :)

          My little brother lives in a coastal town and he has a little fishing boat. He was telling me, one day, how he launched the boat without putting the bungs back in and when he swam round it to try to fix the issue a local seal attacked him. I laughed so hard I almost wet myself.

  • lostgoat on 04/05/2023 - 08:05
    -1

    Comprehensive Insurance .
    For people who enjoy blowing out insurance company profits and lack risk/reward mathematical equation knowledge.

    • Smol Cat on 04/05/2023 - 10:36

      What is the alternative tho? Say you just bought a brand new car. People want to protect and insure what they can't afford to catastrophically lose. What alternative do you propose except insurance?

      • lostgoat on 04/05/2023 - 12:02

        Easy if you have to buy it pay for the cheapest possible insurance with the highest excess like 2k-3k with no extras .

        • Smol Cat on 04/05/2023 - 12:46

          What companies offer such high excesses? I've never seen a place offer excess above 2K. Maybe $1200 I've seen.

          • John Kimble on 04/05/2023 - 13:37

            @Smol Cat: Many have the ability to choose the excess (within a range eg $600 to $2,500) in order to reduce your premium.

      • The Wololo Wombat on 05/05/2023 - 16:36

        Don't buy a new car…. ez.

    • Cluster on 05/05/2023 - 16:33

      Overall yes, insurance pays out less money than they collect, so overall the average customer would on average be better off not paying it.

      But if you bought a $50k car, wouldn't you want to insure it? It gets hit by an 18 year old in an old bomb, causing $15k in damage. 18 year old isn't insured, and shows you the middle finger when you want them to pay up. What now?

      My solution was to shop for insurance first before buying a new car. There are sometimes vast differences in insurance costs between companies, and especially between models of cars. I'm paying $400 for comprehensive insurance for a car worth $25k. Freakishly cheap with one particular company for this model. Would I save $400/pa and risk losing $25k? Nope.

      • greatlamp on 05/05/2023 - 18:46

        This came up in another thread, insurers consider the cost of repairs, not only the write off value.

        So a 50k Toyota can cost less to insure than a 20k BMW

        Which is why if you want a euro, don't buy an 'investment vehicle A200 AMG', buy a decent one, it will cost the same to run.

  • Homr on 04/05/2023 - 11:29
    +2

    My taxes taken out of my pay

  • ptl93 on 04/05/2023 - 11:29

    Paying $10k for Tesla FSD at the moment.

    • Cluster on 05/05/2023 - 16:27

      Could well be worth it when the system is 99.99% good, but right now it's a system that (in Tesla's words) can do the worst thing at the worst possible moment.

  • Foosa on 04/05/2023 - 12:30
    +1

    Mac Pro Stand
    Apple Care
    Flight delay/ cancellation cover
    Premium Petrol

    • Trying2SaveABuck on 04/05/2023 - 12:52

      Premium Petrol

      98 or 95 we talking?

      some cars only take 95 kind of feel the damage to your engine might be worth the cost

      • Foosa on 04/05/2023 - 13:45
        +2

        Yeh by Premium I meant anything above regular required. Probably should have rephrased it.

  • drprox on 04/05/2023 - 13:04

    Anything fashion related, expensive boring cars (just get a cheap one, it's boring anyway), buying new furniture, haircuts, really anything you pay for to impress people, buying coffee out regularly, uber eats (youll be frustrated one way or another).

  • Beauh on 04/05/2023 - 13:49
    +1

    He'd be better off renting it out to insta influencers for the day to take pictures with the Ferrari.

  • AlextheMeertkat on 04/05/2023 - 15:40

    Silicon Implants?

    • Trying2SaveABuck on 04/05/2023 - 15:40
      +3

      If you're a pretty girl on only fans i hear these pay for themselves

      • AlextheMeertkat on 04/05/2023 - 15:45
        +1

        then it is a tangible asset!

      • OzzyOzbourne on 04/05/2023 - 22:01

        Female empowerment right there

      • umoddbro on 06/05/2023 - 01:49

        Maybe claim it back on your tax return as business expense

  • KaraZorEl on 04/05/2023 - 18:37

    Luxury handbags and watches
    Diamond rings
    Flowers as gifts (exceptions apply)
    Sparkling water in restaurants
    Upsizing to a meal just because even if you don't want a drink and/or side
    Upsizing to meal and choosing bottled water
    $2000+ baby gear (Boori cots and Bugaboo prams, unless you are buying as a investment to use for multiple kids otherwise get yourself a bargain on the marketplace.)

    • ToyotaCrownHybrid on 04/05/2023 - 19:03
      +1

      But when a large chips is $6 and upsizing is $4.50 the water is -$1.50 at that point

  • EspressoDan on 04/05/2023 - 18:59
    +1

    Flagship mobile phones.

  • 2ndeffort on 04/05/2023 - 19:38
    • Designer Sneakers
    • After market car wheels
    • (for most people) Gym Memberships
    • Personal Trainers
    • Extended Warranties
    • Mortgage Insurance
    • Lots of different types of Insurance
    • Diet Supplements
    • first in line on 05/05/2023 - 09:49

      high end bicycles

      • 2ndeffort on 05/05/2023 - 11:07

        No chance, best thing I own ;)

    • greatlamp on 05/05/2023 - 18:52

      Aftermarket car wheels are not a bad investment, it's the only piece on the car that doesn't really deprecate. If you buy used, you can probably get your money back years later, especially if they are branded and unique styles (e.g. AMG or M sport rims made by BBS)

  • stmgr on 04/05/2023 - 20:15
    +1

    Currently. Living

  • Commander Shepard on 04/05/2023 - 20:17

    Sold my Porsche Cayman 987.2 Manual just before the market went down (paid 56k, sold for 80k). Owned for 2 years. Did 20000kms and got a few scratches and stone chips. New owner sent it staight to a storage facility, is next level fastidious and is not planning to drive it much.

    Sold 30 cars since getting my license 10 years ago. This dude was next level anal. Worst person I have ever had to deal with. Its a used car thats been driven and the dude just couldnt accept that. Unlucky for him. Its was a fairly rare car and the only one for sale in the country.

    • umoddbro on 05/05/2023 - 02:05

      What was maintenance costs like? Are they quite the money pit as they seem?

      • Commander Shepard on 05/05/2023 - 23:52

        It was my second 987.2 Manual with the 2.9L that I had owned. Both were bulletproof. Nothing but standard sports car consumables.

        Services are expensive. Whether it be specialist or dealer. But the cars themselves aren't that complex. Car was at the bottom of the depreciation curve and not many were sold. So no money was lost due to depreciation. Part prices are generally in line with other euro cars and don't carry a large premium over an Audi or BMW.

        The original 987 has a bit of a shadow over it unfortunately due to IMS and Bore Score issues. If you were unlucky and you lost an engine. The bill would be massive and bankrupt you.
        So the extra money towards a .2 is well worth it.

        SavageGeese should have a 987.2 review coming out in the next few weeks which will give a good rundown on the car.

        I love the Cayman. Its the do everything sports car. It drives great and looks/sounds awesome. And wears one of the best badges out there. But $80,000. Nah, that's stupid money to have in a car in your late 20s/early 30s with the interest rates the way they are. Especially if your only on a slightly above average income.
        I will take 5 NC2 MX5s thanks. The MX5 drives just as well (gearbox is better). It just doesn't have the noise or the badge.

        https://imgur.com/vUsNOmd

    • greatlamp on 05/05/2023 - 18:06
      +2

      What kind of cheap a** buys a 3rd hand porsche to keep in storage? Just drive it and enjoy it before you get to old to sit inside comfortably

      • drprox on 05/05/2023 - 19:38
        +1

        Presumably the same sort've person who "invests" in CBD student boxes. Someone who can't afford decent investments.

  • serpserpserp on 04/05/2023 - 20:26

    Was chatting to a Rich old bloke today who owns a Ferreri

    Lucky he doesn't have a Ferrari. Imagine how much the would cost him.

    • Hangryuman on 05/05/2023 - 08:31

      'owns a Ferreri'

      a Ferret that eats rice should be cheaper to maintain than a Ferrari that costs $2000 per service.

  • BuyoTheCat on 04/05/2023 - 20:53
    +1

    if you want it and can afford it, it is worth the money. If you cannot afford it. it is not worth it. if you have to stretch your budget and have to justify the purchase, it is probably not worth it.

    each to their own.

  • jaimex2 on 04/05/2023 - 21:33
    -3

    Streaming services.

    Apple products.

    • whatgift on 05/05/2023 - 16:05

      As an Apple user, I agree that Apple products are overpriced for what you are getting. That being said, the user experience and interoperability is unparalleled, which is worth something I guess?

      Streaming services are worth the money if you use them correctly - subscribe for short periods of time and binge watch what you want, then switch to another.

  • malich on 04/05/2023 - 22:29
    +1

    Council rates

  • Kiro on 04/05/2023 - 23:00

    Shoehorn

  • umoddbro on 05/05/2023 - 01:58
    +1

    Not just ferrari but owning a car in general after paying out the arse for a brand new/second hand you still need to pay insurance, rego, license, servicing, fuel. If public transport in this country wasn't so s@#$ stuff owning a car.

    • Hangryuman on 05/05/2023 - 08:38

      I sold my old car as I rarely drove it and now get $50pw rent for my car space.

      Yeah - talking about luxury cars appreciating in value should consider the cost of storage

      a neighbour has a 1980s car, last registered in the 1990s, covered in dust with 4 flat tyres, in his car space that could have earned today $50pw or $2600pa if he rented out the car space.

      If his dusty car has been there for 30 years, he's effectively 'paid' $78,000 just to store that little hatchback.

      If I guess an enthusiast might pay $14K for it as a rarity, that still leaves him $64,000 in the hole.

    • Hangryuman on 05/05/2023 - 08:45
      +1

      'If public transport in this country wasn't so s@#$ stuff owning a car.'

      reminds me of coming back from a year in Europe in the 1980s to Brisbane and deciding I didn't need a car - just use public transport, right ?

      cool - until one Sunday I wanted to visit a friend just over the river, that would have been a 5-minute drive in the car I sold before I went to Europe.

      but - Sunday timetable - one bus took me to one side of the river, then it was a half hour wait for a connecting bus to cross the river - so instead of a 5-minute drive, it took me about 45 minutes … I got a car again

      now I live in a most walkable inner Sydney and sold my car last year as I rarely drove it (stressful in Sydney - then looking for a parking space!) and decided I simply don't need it anymore, so now happily relaxing on smooth quiet trains - in fact we're taking one to lunch at Bondi Junction today - sweet !

  • redvaldez on 05/05/2023 - 08:54

    Just for another perspective, I've got a car in the garage (a V8 Commodore) that I rarely drive - would average less than 1,000 km a year. I have another car (2018 Subaru Outback) as my daily driver.

    It wasn't uber expensive to purchase. It's also not an unreasonable cost to maintain, if you compare it to a Euro or a Ferrari. More relevantly, I like cars - it's firmly something for me, not a status symbol. I can't buy another new Holden, and I can't buy another new V8, so I am planning on keeping it indefinitely.

    I would like to drive it more, but I avoid short trips (<10 mins), night highway driving and highway driving after rain (as the highway literally disintegrates) which unfortunately leaves limited opportunities to drive it.

    • Hangryuman on 05/05/2023 - 09:17
      +1

      hope you're not the guy I saw on TV9 ACA saying he'd paid $400K to a hot rod builder only to find the result was full of unsafe faults and declared unroadworthy

      I once sold my tiny Suzuki Swift hatchback (loved that car - closest fun to a motorcycle on four wheels) to a guy who told me he wanted it to drive from Sydney to Adelaide - and he had a hotted-up V8 Foulcan and was tired of pouring $50 notes into the fuel tank …

      or as I saw when I hear the roar of a Hardley Driveable motorbike in the street 'that guy paid $20K or more to be able to make that noise - my old car sounded like that when it had a hole in the muffler'

      • try2bhelpful on 05/05/2023 - 09:22

        The audible sound of a (profanity). Like the sound of people who play loud “doof doof” music with their windows down or the people on public transport who don’t have ear phones on.

    • greatlamp on 05/05/2023 - 18:04

      Why do you avoid night highway driving?

  • freshofftheplane on 05/05/2023 - 09:56

    Super expensive wine
    Super expensive cars

  • Usernames on 05/05/2023 - 11:07
    +2

    New release, single player video games, or even old games. Seems like everything becomes very cheap or free eventually, and when there is no multiplayer component, there is no need to buy it immediately.

  • ArskinF on 05/05/2023 - 14:14
    +1

    Pffft…. the difference between men and boys is only the price of the toys.

  • lostgoat on 05/05/2023 - 14:49

    Small size especially at many fast food restaurant vs the $1 extra for the much much much much larger size .

  • foxpants on 05/05/2023 - 15:36

    Personal experience has shown me that a lot of warranties aren't worth the paper they're printed on, let alone worth paying extra for. I'm absolutely certain there are exceptions where the warranty has totally sorted out a person, but that's not my experience.

    • Trying2SaveABuck on 05/05/2023 - 19:57

      got to agree with this the few times you do use them there is normally some clause that screws you out of getting paid or having your item replaced

  • shortgum on 05/05/2023 - 15:56

    apple ifone

  • idonotknowwhy on 05/05/2023 - 17:02
    +1

    Lol, just saw the same thing at the very top of my reddit feed
    https://old.reddit.com/r/AusFinance/comments/1385381/what_th…

    • Muzeeb on 05/05/2023 - 22:30

      Op discovered a topic that garnered heaps of internet points so tried their luck on Reddit as well.

      taps temple with index finger twice

  • ceej11 on 05/05/2023 - 17:47

    how many other social sites did you post this on OP?

    • Trying2SaveABuck on 05/05/2023 - 20:11

      zero

      • Muzeeb on 05/05/2023 - 22:31
        -1

        I call BS. Even have the same spelling mistakes.

        • Trying2SaveABuck on 06/05/2023 - 08:17
          +1

          please link me to 'where i have posted this' - the only other social media platform i use is 'reddit' and it is mostly for 'sports' staff or to make fun of socialist

          https://www.reddit.com/r/AusFinance/comments/1385381/what_th…

          this person 'stole' my post if that it what you are referring too but i am not u/doggoesmeow

          which that is a 'little' sad

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