MORNE Posted May 23, 2019 Share For a lot of people that is much easier said than done. I have that will power, but my wife on the other hand doesn't. If she gets a bonus at work it's normally spent before it even gets deposited.OT sorry but: my wife is the same ...thats why she chooses to deposit all her money into my investment account. She always has a minimum of - call it "pocket money" to get by...for ubers, the odd lunch/coffee etc, but limited to a set amount. Because the whole amount is then not immediately available to swipe on everyday crap, she then has to "ask" me to transfer money if she needs/wants to spend and she thinks twice about wether she REALY wants whatever she is about to buy. It basically eradicates that emotional/ habit spending.It sounds dumb but it has worked great for her...so much so that she was shocked at just how fast/ much she could save in a few months and prefers it now instead. For what it's worth..she earns WAY more money than I do.We all fall in that trap at some stage..the more we earn the more we spend because "i can" "i'll treat myself" "i've arrived" etc. Link to comment Share on other sites More sharing options...
Long Wheel Base Posted May 23, 2019 Share For a lot of people that is much easier said than done. I have that will power, but my wife on the other hand doesn't. If she gets a bonus at work it's normally spent before it even gets deposited.She always gets a bonus, she just doesn't tell you about it every time . Link to comment Share on other sites More sharing options...
Jase619 Posted May 23, 2019 Share We all fall in that trap at some stage..the more we earn the more we spend because "i can" "i'll treat myself" "i've arrived" etc. OT as well, but it's shocking how we adjust our lifestyles once we get a promotion of any sort. You may think you will have more spare cash for saving and investing, yet when you look again you have the same amount spare as what you had before. That's why I don't judge others or try to dissuade them from financing something. If they have done the calculation and they can afford it and they know there is no way that they will ever be able to save up that amount due to other commitments or their wives, then what would you suggest. On a side note, I think there are a lot more financed bikes starting with us in the races then we will ever know or people will admit to. Link to comment Share on other sites More sharing options...
Jase619 Posted May 23, 2019 Share She always gets a bonus, she just doesn't tell you about it every time . Luckily that a once a year thing so no issues there. I however have taken to shaving off my monthly bonuses in an effort to save some of it before my wife thinks of what we can buy with it. Impluse control is not strong with that one Link to comment Share on other sites More sharing options...
daniemare Posted May 23, 2019 Share For a lot of people that is much easier said than done. I have that will power,So that person cannot save to buy, but will have the “will power” to pay the financier every month for the loan. Now that just does not make sense. But I guess, paying 15% for the privilege of someone else helping you to “budget” is then your voorland Link to comment Share on other sites More sharing options...
Allrounder Posted May 23, 2019 Share So that person cannot save to buy, but will have the “will power” to pay the financier every month for the loan. Now that just does not make sense. But I guess, paying 15% for the privilege of someone else helping you to “budget” is then your voorlandSaving is a choice. paying back a loan is not. Link to comment Share on other sites More sharing options...
JohanC Posted May 23, 2019 Share No, YOLO in your household OT sorry but: my wife is the same ...thats why she chooses to deposit all her money into my investment account. She always has a minimum of - call it "pocket money" to get by...for ubers, the odd lunch/coffee etc, but limited to a set amount. Because the whole amount is then not immediately available to swipe on everyday crap, she then has to "ask" me to transfer money if she needs/wants to spend and she thinks twice about wether she REALY wants whatever she is about to buy. It basically eradicates that emotional/ habit spending.It sounds dumb but it has worked great for her...so much so that she was shocked at just how fast/ much she could save in a few months and prefers it now instead. For what it's worth..she earns WAY more money than I do.We all fall in that trap at some stage..the more we earn the more we spend because "i can" "i'll treat myself" "i've arrived" etc. Link to comment Share on other sites More sharing options...
Jase619 Posted May 23, 2019 Share So that person cannot save to buy, but will have the “will power” to pay the financier every month for the loan. Now that just does not make sense. But I guess, paying 15% for the privilege of someone else helping you to “budget” is then your voorland Um, doesn't take much will power to finance. Takes a lot of choice and control to save though. As I said, for some it's easier than for others Link to comment Share on other sites More sharing options...
Markellis Posted May 23, 2019 Share The reality is that now days saving for a few months to get a decent bike is very unlikely. We paying the same and more as what guys who ride off-road motorbikes are paying for bicycles these days What I don't get is that most times people don't blink an eye lid when motorbikes are financed but jump up and down when somebody wants to finance a sport they love?? I financed a bike through Wesbank years back, yes I paid more In the end but enabled me to get my life back. Luckily I am in a position where I don't need to finance bikes because I put aside bonus money each year. But if I didn't have the "help" to get a bike to start with and to sell when the time came for a new bike I would still be riding an entry level bike. As has already been stated, many people are financing bikes these days, if you can afford it, do it. You paying for it, nobody else. Good luck and wish you many happy miles on your new bike Link to comment Share on other sites More sharing options...
BuffsVintageBikes Posted May 23, 2019 Share You only live once, buy the damn bike Link to comment Share on other sites More sharing options...
Pure Savage Posted May 23, 2019 Share I hope you at least getting a R250k bike if taking out finance! Link to comment Share on other sites More sharing options...
Wil6 Posted May 23, 2019 Share The reality is that now days saving for a few months to get a decent bike is very unlikely. We paying the same and more as what guys who ride off-road motorbikes are paying for bicycles these days What I don't get is that most times people don't blink an eye lid when motorbikes are financed but jump up and down when somebody wants to finance a sport they love?? I financed a bike through Wesbank years back, yes I paid more In the end but enabled me to get my life back. Luckily I am in a position where I don't need to finance bikes because I put aside bonus money each year. But if I didn't have the "help" to get a bike to start with and to sell when the time came for a new bike I would still be riding an entry level bike. As has already been stated, many people are financing bikes these days, if you can afford it, do it. You paying for it, nobody else. Good luck and wish you many happy miles on your new bikeThere is a fine line between need and want. You don't need a 40k to 60k+ bike, so to justify financing one that you could not afford in the first place, is not wise. Plenty of second hand options available from 15k to 20k, and almost just as good as bikes 4 times the price. Don't finance toys Link to comment Share on other sites More sharing options...
Bonus Posted May 23, 2019 Share I guess if you take out finance for a bike they would insist you take out insurance cover as well? (or it would be bundled into the loan) Not everyone want's or feels the need to have bike insurance, but with a loan it might be obligatory - so factor that into your repayments. Imagine continuing to pay for a bike months (or years) after it was stolen . . . .that would really suck. Edit: I haven't time to read the whole thread, but are we just "assuming" that this is an expensive bike the OP wants to finance? Some people will struggle to find a much smaller sum than others - so maybe the loan is only for a few K - not the tens of thousands and expensive bike would cost? Link to comment Share on other sites More sharing options...
Pure Savage Posted May 23, 2019 Share I take the, wait for an insurance claim approach. The amount I ride, its not if, its when. I am obviously getting better at bike handling as bikes are lasting longer. Link to comment Share on other sites More sharing options...
MORNE Posted May 23, 2019 Share I hope you at least getting a R250k bike if taking out finance!I always wonder about these current year 100k+ bikes in classifieds adorned with hardly ridden's and basically new's who buys that bike and decides 2 months later he hates it? I get some peoples 100k bike is another's 10k bike but WTH.Or maybe they were financed and the downpayment is hurting?#Curious. Link to comment Share on other sites More sharing options...
Pure Savage Posted May 23, 2019 Share I always wonder about these current year 100k+ bikes in classifieds adorned with hardly ridden's and basically new's who buys that bike and decides 2 months later he hates it? I get some peoples 100k bike is another's 10k bike but WTH.Or maybe they were financed and the downpayment is hurting?#Curious.There are a few okes who drop 150k without blinking, they just want the latest and greatest vibe. Mostly its their kids egging them on I mean the new spez E-works is R180k and those are rolling out the door... Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.