I'll bet many of you have an opinion on this story:

I have a First World problem: I earn $500K and have $1 million in assets. Should I buy a $30K bracelet during a global pandemic?

She should buy it unless it is diamonds.
Diamonds may be about to take a big hit in value.

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Originally posted by CHAS:
She should buy it unless it is diamonds.
Diamonds may be about to take a big hit in value.

Buy the bracelet. You could be dead in 2 years. Enjoy life.

No you should not buy a $30k bracelet. Donate that money instead.

Jesus.

Let they who have never spent money frivolously throw the first stone.

That said, I wouldn't buy it. I love looking at jewelry in that price range recreationally, but plunking down that much money for something that I would always be fretting over? I can't see myself doing it.

Would I enjoy my life more as the owner of that bracelet if I were constantly worried that I would lose it or damage it or get mugged for it? Probably not. It just doesn't sound like fun to me.

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Let they who have never spent money frivolously throw the first stone.

Touché.

Still, there's "frivolous" and then there's frivolous. $30k for a bracelet is a bit much for me.

Now if we were talking about pianos....

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Now if we were talking about pianos....

i totally concur!

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Originally posted by ShiroKuro:

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Let they who have never spent money frivolously throw the first stone.

Touché.

I wasn't lobbing that stone at you, dear.

I was just lobbing it generally into the air. It will probably land on me.

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Originally posted by Mary Anna:

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Originally posted by ShiroKuro:

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Let they who have never spent money frivolously throw the first stone.

Touché.

I wasn't lobbing that stone at you, dear.

I was just lobbing it generally into the air. It will probably land on me.

More likely on both of us.

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Originally posted by ShiroKuro:
Still, there's "frivolous" and then there's frivolous. $30k for a bracelet is a bit much for me.

Now if we were talking about pianos....

That's just it, right? Anything might look frivolous to someone who isn't particularly interested in that item. Pianos, sure, but also houses, trucks, horses, RVs, artwork, vacations, etc.

It's my view that if she can afford it without borrowing, and if makes her happy, she should get it.

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Originally posted by Steve Miller:

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Originally posted by ShiroKuro:
Still, there's "frivolous" and then there's frivolous. $30k for a bracelet is a bit much for me.

Now if we were talking about pianos....

That's just it, right? Anything might look frivolous to someone who isn't particularly interested in that item. Pianos, sure, but also houses, trucks, horses, RVs, artwork, vacations, etc.

It's my view that if she can afford it without borrowing, and if makes her happy, she should get it.

+1

And she may discover after she gets it that it doesn't make her feel as happy as she thinks it will. That's ok, too. She will have learned a life lesson.

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Originally posted by Mary Anna:

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Originally posted by ShiroKuro:

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Let they who have never spent money frivolously throw the first stone.

Touché.

I wasn't lobbing that stone at you, dear.

I was just lobbing it generally into the air. It will probably land on me.

And me. <3

So, I actually read that article that Steve linked (OMG, IKR??) and I didn't like the beginning (where the author was equating the $30K bracelet to Starbucks? Yeah, no.) But at the end, I came around.

Steve wrote:

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It's my view that if she can afford it without borrowing, and if makes her happy, she should get it.

OTOH I agree with this sentiment... but OTOH... I guess I feel like that kind of frivolity (see above) is a bit hard to take... So maybe if you have that kind of money, sure, buy whatever you want, but I also hope you're donating to your local food bank and doing other things to help out those less fortunate.

But ultimately, I have to agree with Steve's comment that "Anything might look frivolous to someone who isn't particularly interested in that item." ... I have a grand piano (granted, I bought it used) and though it's an important tool to me, it certainly must seem over-the-top frivolous to some people... So who am I to judge someone else's jewelry or luxury car or whatever.

BTW the most expensive piece of jewelry I own is my engagement ring and I cannot for the life of me remember how much it cost... I think I knew at one point... Anyway, I'm pretty sure it was no where near as expensive as this bracelet... I wonder if Mr. SK would be offended if I asked him...

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Originally posted by ShiroKuro:

So, I actually read that article that Steve linked (OMG, IKR??) and I didn't like the beginning (where the author was equating the $30K bracelet to Starbucks? Yeah, no.)

A guy I worked with used to give talks on financial planning to floor traders at the exchange. Those guys would piss through money like there was no tomorrow.

Dave's example of wasted money? Starbucks. Buying four or five cups of coffee a day was common. It added up to real money.

The $30K bracelet purchase hits you in the face and makes you think. All those lattes are financial death by a thousand cups....

The Latte Factor

My reaction to the coffee comparison was the part at the beginning of the article where he seems to be saying "one person's $30k bracelet is another person's latte." So, ok, yes, in that both are unnecessary purchases, "wants, not needs." But no, in that, the person who foregoes the $30k bracelet in favor of, saying, donating that money will make a much bigger difference than the person who foregoes the $6 latte in favor of donating it.... But it's probably irrelevant since neither the bracelet-buyer nor the latte-buyer can be expected to turn around and donate that money if they decide not to buy their "want" purchase...

Separate from all of that, the whole latte argument is quite complex isn't it. The article that WTG linked does a good job of covering those details and the different takes on it. But that wasn't what I was thinking about in my original reaction to the $30K bracelet.

I think I'm just prejudiced against bracelets.