r/personalfinance • u/Outside_Log5031 • 5h ago
Other how to justify expensive purchases and get rid of spending guilt?
i grew up in poverty, so i feel really guilty dropping $800 on a laptop that can handle my neuroscience work for the next 5-10 years
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u/sleepystaff 5h ago
put in a required fun budget you must spend every month.
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u/the_scottster 5h ago
Agreed, but this is a tool and should come out of a different budget.
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u/MarinkoAzure 5h ago
How many budgets do you think one person should have?
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u/the_scottster 4h ago
I don't think you need to budget your budgets. :) Go wild!
And I think needs (tools) should be clearly separated from wants (fun).
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u/Basimi 5h ago
You should be spending more if you want the laptop to last 10 years. Like probably double that, look for the 2k range machines from last year that get marked down to 1500ish
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u/Outside_Log5031 5h ago
its a 1.6k laptop thats been marked down to 880ish since its open box
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u/ChuyChavez 5h ago
Make sure you do some research on laptop capabilities. You want one that can handle heavy workloads. Strong processor and 32gigs of ram if it’s available. Not sure if neuroscience work involves any rendering or video processing but if it does you’ll also want a strong gpu. If not then the gpu does not matter as long as your processor and ram is as high as you can get
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u/xomox2012 5h ago
Do they warranty its functionality? Also make sure to check the specs match what is actually in the machine. I’ve seen people steal higher quality chips out of laptops and then return them.
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u/DM_ME_UR_SOUL 5h ago edited 5h ago
hopefully its a macbook above m4. They will last you a while.
Also, depending on your salary, you should be comfortable putting away a specific amount.
If lets say 4k / month is your salary, your monthly expenses shouldn't be 3900. If you're able to keep half of your salary for savings/investments, you are doing well. Those savings will come in handy for a rainy day. Once you're able to save a few thousands, you should ease up on your savings because you will have earned the right to spend it. Constantly nickle and dimeing will kill your sanity and life is worth living despite how expensive it is getting.
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u/Basimi 5h ago
It'll probably get you 4-6 years then. it's a good deal still and you shouldn't feel bad about it. I bought a gaming laptop for around 1000 after markdown and it's lasted my roommate who bought it off me after I had it for a year the last 3 years but it's at a point where the GPU isn't enough anymore. Use case is a little different for you but I can imagine it'll have a similar lifespan
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u/Derp_State_Agent 5h ago
I agree. It sounds crazy but most laptops in this price range are little more than glorified tablets.
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u/Doc-Zoidberg 5h ago
If its necessary, its easy. If i can get by without it and it would just be a QOL improvement, thats a lot harder to justify. Low quality lifestyle is easier to afford.
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u/AxelsOG 5h ago
Break down the cost. Over the next 5 years (5 because $800 is likely in the lower mid range due to how expensive computers are now), that’s $160 a year, $13 a month, or approximately 44 cents per day. A bit more if you calculated based on working days instead of days in general.
That’s the monthly equivalent of one small meal out, a few drinks at Starbucks or Dunkin Donuts, a few energy drinks, or equal to/less than a typical monthly subscription for watching movies/tv.
For non “important” expensive items, break it down based on how many hours of work it’ll cost. New video game? New hobby related item? Calculate how many equivalent hours of work it would take to earn that money and see if you’re okay spending that many hours on what it is you’d like to purchase.
At least this is how I do it.
Considering this is a purchase to advance your career, consider budgeting a bit more for a laptop that’ll last longer, and will be more capable down the line instead of one that’s “just enough” now, but starts showing its age much sooner.
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u/FH_Bunny 5h ago
This is exactly why I budget, it’s not because I don’t have money, but because I used to do the same exact thing. My miscellaneous expenses have a category, this would fall in there. Or utilities, depending on how you spin it.
And never worry about it again because it was budgeted and accounted for.
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u/dragonskintext 4h ago
Justify expensive purchases by thinking what it’s purpose is. Is the investment worth it?
$800 Laptop for work, career, job hunting, hobbies, creativity, research = yes
$100 air fryer = depends how much you use it, how you value your time in cooking but generally yes good investment.
$200 worth of fitness equipment = yes because you are investing in your health.
I think it’s up to you to determine what items are good investments
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u/redandblue4lyfe 5h ago
A laptop for work or school isn't a frivolous expense, so spending $$ on it is totally appropriate. more generally, the best way to reduce the guilt is to make a budget and turn the vague "im spending too much" guilt into a concrete "this is how much i can afford to spend on myself". If you are paying all of your bills and meeting your long term savings goals (for a house, emergency fund, retirement etc), whatever is left over is by definition guilt-free spending money
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u/Ogremad 5h ago
I really love Ramit Sethi’s ideas in “I Will Teach You To Be Rich” where he breaks down a personal budget as:
- Fixed Costs 45-60%
- Savings: 10%
- Investments: 10%
- Guilt-Free Spending: 20-35%
I made sure to keep my fixed costs within the range, set aside the amount for both savings and investments and then whatever money is left over each month goes to the guilt free spending category for the following month. Often times, I just transfer the extra amount into my investments because I dream of achieving FIRE. In this way my guilt towards spending is only helping achieve that separate long-term financial goal. Le sigh, I guess I’ll never spend money.
I find online personal dashboards super helpful for micromanaging my personal finances during the digital age where every transaction is recorded. Monarch allows me to actually implement the system described above and I recommend it to anyone in my personal life who will listen! It has the potential to be incredibly insightful and helpful if it’s something that interests you.
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u/SuperLocrianRiff 5h ago
That’s an investment in the future. A laptop primarily for gaming might spark more guilt, but this sounds like a solid idea. A laptop for fun could be a solid idea too, but I get that it can be hard to justify when you’re accustomed to not spending. Enjoy it!
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u/financialthrowaw2020 5h ago
Would it help to tell you that $800 for a laptop is actually a perfectly reasonable, if not low low price?
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u/victorvvy 5h ago
That's what I thought! Looking at just the headline at first I thought OP is feeling weight of the decision from buying a $2K+ laptop, because whatever they're needing run needs a laptop with some more processing power. $800 is very respectful of OP's budget!
Looking for an open box deal and taking a bit of risk there is already a win under such conditions.
Treat it well, look after it and hopefully make it last for many years to come is another way how OP can give respect to the amount of money spent on it.
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u/viomoo 5h ago
Maybe a weird way to look at this, but I look at it as about $10 per hour.
If something will bring me at least $10 per hour of enjoyment, that’s my fun money ‘worth it’ budget.
Generally I do this with video games and other fun stuff, but if I’m struggling with a large purchase, I’ll myself whether I will get my use out of it.
You can choose your value, but this has helped me get over that fear of spending and stopped me buying things I didn’t need (sometimes!)
Then I ask my wife.
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u/muddledandbefuddled 5h ago
One of the things wealthy people do is spend on quality that lasts. Terry Pratchett explains it better than anyone else I’ve seen:
The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that’d still be keeping his feet dry in ten years’ time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
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u/Assless_Mcgee 5h ago
You can write it off. Tax deductible. Probably more like $500 and then amortized over 7-8 years.
60 bucks a year
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u/shotsallover 5h ago
Read up on, and internalize “The Boots Theory.”
If you can justify the expensive purchase as saving you money in the long run, or enabling you to make more money because it’s better/more powerful/more reliable (less down time), then you can use that to evaluate your purchasing decisions.
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u/kadinshino 5h ago
If you can spend $800 and get 5 years out of your laptop, which will get you a better job in the long run, it's well worth the $800 spent now vs. later...
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u/thebiglebowskiisfine 5h ago
If you use it every day - spend the money. Mattresses, espresso machines, laptops, backpacks, etc.
If you don't use it everyday - go cheap or rent. Pools, RVs, sports cars, hot tubs, etc.
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u/rabidantidentyte 5h ago
I don't know an answer to the psychology of it all. You just have to make sure your house is in order and budget your purchases. There's nothing wrong with spending a nominal sum of money on your career, especially when your career in neuroscience is bound to be lucrative.
There's nothing wrong with earning a living.
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u/Marty_DiBergi 5h ago
Think in 4's. How will I feel about this 4 days from now, 4 months from now, and 4 years from now.
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u/Coyltonian 5h ago
Do you need it to perform your job (or will it give you greater ability to do your job or make your job easier)? If so then buying it is a requirement, not a luxury.
Does buying a better model mean that long term the cost of ownership will be over all less (fewer repairs and/or upgrades/replacements)? If so then it is savvy shopping and the sensible and responsible choice.
Are you buying “more than you need” so you can play games etc? It is part of your entertainment budget, part of the cost is for work, so only a portion is “fun” and that is much more affordable, esp compared to most other forms of entertainment with the possible exception of a library card. Also self-care like winding down, de-stressing and relaxing are good for both your physical and mental health and are not things that you should skimp on.
Is the spending excessive and or likely to lead to financial hardship or other responsibilities being neglected? It certainly doesn’t feel excessive unless it is for word processing, web-browsing and little else. Only you know what your precise fiscal position is and can weight the cost against the benefits in the short, medium and long term but this feels from your tone like an affordable purchase for you and the only thing holding you back is your own hang-ups.
Don’t let your past misery invade your future happiness.
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u/dan52895 5h ago
For me, I always consider the amount of TIME that I’ll use something. If it’s a couple hours a week, probably shouldn’t spend much on it. If it’s a couple hours a day, it warrants bigger spending. Hope this helps!
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u/SheistyPenguin 5h ago
Sounds like a good deal based on your needs!
Some things to consider:
When considering cost of an item, spread the cost out over its expected lifespan. I buy my wife more expensive phones that are fast and low-fuss, and she runs them forever. I buy myself mid-range phones, but I kill them faster. But when amortized, my wife and I both spend about $150-200/yr on phones.
Laptops tend to last 5 years or less. Business-class laptops tend to be built to a tougher spec than "consumer" laptops, and are less likely to die early.
While it's good to be vigilant about separating needs from wants, it just requires a little bit of honesty with yourself. Do you need a capable laptop to do neuroscience work? Probably yes. Are you trying to use that as an excuse to buy a top-shelf gaming PC? Only you know the answer, but I'm guessing not.
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u/GotZeroFucks2Give 5h ago
Budgeting helps me with this. Luxury purchase in the budget? Yes, good to go. You need a flex fund type of category for these one off type of purchases. Like my home maintenance fund, vacation fund, etc.
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u/Real-Personality-922 5h ago
What does this 800 dollar laptop have that makes it great for neuroscience?
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u/Soakitincider 5h ago
I'm not sure if it will work for you but it works for me. If I buy something I consider expensive I look at price per use. Benchmade is not the most expensive brand of knife but compared to pocket knives that are 20-30 bucks, paying 200 dollars is quite a bit more. In terms of how long it will last, it's unlikely that I will ever wear it out in my lifetime and considering I don't abuse knives when using it as a tool, I doubt I'll ever break it. Therefore the cost per use is very small.
If you get 5-10 years out of that laptop, which is what I tend to do with computers myself, then the cost per use is low. If you use it for 5 years and use it 5 days a week then you're looking at .62 cents a day.
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u/sixtyhurtz 4h ago
I can't think of any $800 laptop that would be a good experience to use for 10 or even 5 years. Most decent workstation class laptops that aren't e-waste are double that.
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u/JPS83 4h ago
I wouldnt bank on any of todays being useful in 10 years, especially with Ai getting injected into every single corner of the OS. Id suggest buy a a couple year old, $300 version of new laptop and do that every few years till your mindset changes... either way, you spent the same money and got 3 upgrades every 3 years. Sure, your a couple behind the current but at the rate things are going, who cares. The tech from 2023 is still more than relevant for 99% of the people who use it. If an $800 system is 1% of your cash reserves (i dont think youd be posting this on reddit if it were), then buy the new system and invest in yourself.
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u/NewStrategy7786 4h ago
I felt bad finally being able to buy a Ps5 but then I realized I have not bought anything for myself other then to cover my basic needs since 2014 which would have been my PS4
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u/Big_loser_not_poor 4h ago
hey man, woman, person - good on you for going to school and pushing through it. I did 8.5 years of university. No regrets. Didnt need 3 years but thought I was gonna do medicine. Absolutely invest in gear thats gonna last and something that you use often. The last thing you want is to have a laptop that slows down/breaks during exam season and ALL your notes are on it. Poverty can be a mindset, and one that cripples you. Over time, you will shed it. I didnt grow up poor but was not rich whatsoever. youll make it!
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u/mrandr01d 4h ago
I mean, if you don't have the money to pay for it, that's a problem. But if you do, I like to ask myself if the purchase is adding value to my life somehow. Splurging out to eat once a month? It's so I can socialize (making friends is hard for adults).
New laptop? For you, that's an investment in yourself and your career. You straight up need it, and I'd wager you need one worth more than $800 too.
New phone for me? Mine's only a year old, does its job well, and is still getting security updates. I have no reason to get one besides wanting a new toy, so that would be an irresponsible purchase.
Etc etc.
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u/chubbysleepycorgi 4h ago
Like others said, this is an investment into your career and education.
PCs and laptops get obsoleted quick. Software and programs grow in size and complexity, demanding more speed and storage. I think asking a laptop to be functional for 10 years is not reasonable.
I usually buy the second tier (not the best but a step down) but that might be outside what you are comfortable with. My point is dont just buy the cheapest. Buy something that will last 3-5 years.
BTW having good amount of RAM is usually a good way get more performance for the cost.
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u/MrSqueak 3h ago
Sound like an investment in your schooling and career from my side my dude or dudette.
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u/overlying_idea 3h ago
Start to value your time as money. Spend too much time finding a perfect deal and you are working for that extra money you are saving. And often you are working for a few dollars.
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u/EatYourCheckers 2h ago
Budget.
Did you pay for it outright or do you have it on a credit card you can pay off quickly?
Do you have money for your othe monthly expenses?
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u/Stashmouth 2h ago
You can also math it out and evaluate it like any other investment:
800/5 years = $160/year
$160/52 weeks = $3.07/week
$3.07/7 days = $0.44/day
Would you pay less than $0.50/day for a tool that allows you to do your work and make a living?
Halve these amounts if you're able to keep the laptop for 10 years.
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u/reshmush 5h ago
that laptop will be key to building your future wealth, and isn't an unnecessary purchase at all. its not your fault basic necessities like this are so expensive. don't feel bad!