CPFers Fiscally Conservative?!

Judging from many who struggle over the purchase of a new light, I'd guess that maybe we are a financially responsible bunch.

Considering how much a movie, meal, or a night at the pub costs, I'm often surprised when some members have difficulty justifying $50 on a new light.

Maybe we're, primarily, just a cash-strapped group, who don't go out on the town very often and $50 IS a lot of discretionary money.

What are your spending habits and thoughts about this?

Given my financial situation, I have to think about even a $5 purchase. The few times I spend much more, it's generally for things I need as opposed to want. I've been told I'm tighter than a crab's behind, but it's out of necessity.

I say I'm frugal. My wife say's I'm cheap. Seriously, I really can't see spending more than $50-$60 on a flashlight. They evolve so fast, and I know I'll be eying a new one tomorrow. Whatever I buy will probably be researched to death before purchase. That's half the fun. One thing my wife and I both agree on is that there will be no credit card debt. If we can't really afford something we don't buy it. I think growing up with parents that went through the depression as adults had much influence.

Geoff

jayflash said:

Judging from many who struggle over the purchase of a new light, I'd guess that maybe we are a financially responsible bunch.

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While I tend to be, and will research things to death...and then not buy. I think that's part of the fun. Getting to know the options. Exploring the nuances and tradeoffs.

I'm not so sure all of us are that conservative when it comes to light spending. Exhibit 1 - "Buy Both" Exhibit 2 - People preordering the D10/EX10 before they were formally announced or we had good specs on it.

I'm with jtr1962 and baterija on this, I am very conservative when it comes to spending. 10 years ago (when I was 18) I used to be an impulse buyer. Regardless of how expensive something was, I would buy it. Sometimes for no reason other than the fact it was expensive. Then I got a job, and learned very quickly that money doesn't grow on trees. I started to spend more conservatively, and pretty soon every purchase I've made since then has been thoroughly thought out to the last cent.


Though I have been a little less stringent with flashlights.

I think being fiscally conservative depends on whether what you're spending on toys is truly discretionary disposable income (after necessities and all prudent savings are deducted) or whether you're spending money that should be going into the kids' college fund instead. Whether what you buy is a good deal or not (and believe me, I am a fan of deals...) is a far secondary consideration.

baterija said:

While I tend to be, and will research things to death...and then not buy. I think that's part of the fun. Getting to know the options. Exploring the nuances and tradeoffs.
:

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LOL, I'm not alone in doing this. Wife wonders why I torture myself this way but the hunt is quite interesting. I'll just say I'd be an informed wanna be buyer.

Like previous responders I, too, research the new lights almost until they become obsolete. Still, I've somehow ended up with a fair sized "collection" - something I swore would never happen.

We seem to represent a normal cross section of buying habits, which surprises me, although some members seem to have the clouds for their (HID) limits.

Does researching a purchase to death before buying really count as being "fiscally conservative" if you're researching/buying something you already have dozens of??? :nana:

RA40 said:

LOL, I'm not alone in doing this. Wife wonders why I torture myself this way but the hunt is quite interesting. I'll just say I'd be an informed wanna be buyer.

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It's just fun figuring out things that interest me. We like lights. I might not NEED more lights, or be able to justify the cost to benefits in a certain case, but it doesn't mean the hunt isn't fun. The information gained is also useful down the road at times.

It beats sitting and watching the lastest reality show craze for entertainment too.

I tend to be fairly conservative, to some degree I need to be as a student. However, I don't have too much of a problem splashing out big money on a purchase that will make a big difference, be it a light, a lock for my motorbike, camera, computer, etc, but at the same time I try to cut back on other purchases- I recently bought a $25 speaker system, rather than a $150 one, my VOIP set cost me $6 off DX, etc. etc.

My son is autistic (recently diagnosed). With therapy sessions around $700 / month, I have to be frugal with my hobbies. I have given up guitar collecting, RC car racing, although I still occasionally hit the mountain bike trails. I love taking night walks though... I seem to be doing more of that. it is very relaxing and helps ease the stress of living with a mentally handicapped family member.

:thumbsup:

I am very frugal. It may just be my natural tendency, or it may be my upbringing, but I am frugal when it comes to most things. Hopefully, someday I'll be wealthy enough to be able to spend a bit more, but even then, I will still not be willing to spend money on certain things.

Flashaholics tend to enjoy the 'tool' aspect of their lights at least as much as the 'pretty' aspect. Since all flashlights are inherently useful, I'd say that *most* CPF members are a bit more frugal than the average person. People who are well informed also tend to be more frugal and careful with their purchases. Seeking out and joining an online forum for the purpose of gaining information shows that we like to stay informed, which makes us more careful with our money. Of course, there are always exceptions...

nbp said:

Does researching a purchase to death before buying really count as being "fiscally conservative" if you're researching/buying something you already have dozens of??? :nana:

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Researching something is part of the fun of the hobby and in no way qualifies as fiscally conservative. A home NEEDS 2-3 flashlights at the most. And you could do very well with just $20-30 per flashlight. In my opinion, most CPFers are not fiscally conservative for flashlights although they may be for other things. In some cases, I think members are seriously overspent and accumulating credit card debt to feed the purchase of unnecessary lights. Take a look at BST and you will get the idea. Some people are selling their lights to fund things like hospital bills or car repairs. I would say a fiscally conservative person is one that spends <10% of their TRUE discretionary disposable income (after living expenses, medical, savings, bills, etc) on unecessary or luxury items.

Funny, I got the complete opposite impression from this place, with people splashing out 100s or sometimes even 1000s on lights...

I'd say there are more than a few lucky or very hard working folks here that don't need to be fiscally conservative. It seems to be a good cross-section of society. One thing, we're all gadget nuts, and most seem to have the collector gene.

Geoff

I guess I'm selectively frugal. Nice cars do nothing for me. I own 3 bottom of the line vehicles - 2000 Chevy S10 - 30K miles, 2004 Chevy Malibu 16K miles and my wives 2002 chevy cavalier - 28K Miles. I mention the mileage because I guess we dont get out much - Movies and fancy restaurants etc do nothing for me. I paid off my mortgage recently - average house, average neighborhood nothing special. Inside the house aside from a dining room table and a small 26" LCD HDTV there is not one piece of funiture or appliance that cost more than a few hundred $$. My stove dont even have a clock or a light in the oven. My couch is falling apart as are all the chairs at the kitchen table. I do take very good care of the house when it come to repairs and remodelling.

On the other hand when in come to hobby stuff and MY kind of entertainment anything goes. About 5 years ago I built myself a big beautiful electronics workbench with all kinds of drawers and cabinets and shelves. Spent about $600 on that and another $1000 or so for some new test equipment. And of course there's the 40 or 50 flashlights - over $500 worth. Whats wrong with that picture?

Considering how much a movie, meal, or a night at the pub costs, I'm often surprised when some members have difficulty justifying $50 on a new light.

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Movie: about 15 CHF (USD:CHF ~ 1:1). But downloading them is cheaper... and you don't have to pay way to much for popcorn.
Meal: I try to stay under 3-4 CHF a meal.
Pub: I don't go to pubs, to expensive I sometimes go to a squatted house/alternative culture centre, where they sell beer for the purchase price. Or just going out to the woods with some friends and some cases of beer (well, not in winter obviously)

So much about my spending habits