money What is a lot of money to you?

[SansVarnic]

22 hours ago, gal-m said:

what do people around the world consider to be a large about of money?

It depends really on what it is you are buying.

House, car, pc.... different monetary worth's and different sets of value. I would spend 150-250k USD on a house but I would only spend 1500 USD on a PC. I would only spend what I felt something is worth.

[Sauron]

Usually I don't just consider whether I can technically afford something but also whether the thing I'd be buying is worth that sum to me over other things I could be doing with it or saving it for... for instance while right now I can definitely afford a 3090 or three I also don't think it's worth dropping MSRP on, let alone whatever it's going for now on ebay.

[JamesTheFolf]

22 hours ago, gal-m said:

I'll try to keep this simple and short: I was just watching this Byte Size Tech video, because I am sometimes interested in this channels point of view on all things tech and thought to myself: what do people around the world consider to be a large about of money?

If you think about it, even though the internet is essentially yesterdays news, as it has now become a part of everyday life for most people, I still sometimes find it absolutely mesmerising how interconnected the majority of the world is nowadays, yet how it differs so much..

 

I think that in the world of technology the true value of money is quickly forgotten. We often forget how privileged some of us may be and how hard others have to work.. While I agree that you are who you are and that you live where you live, I still believe it's sometimes important to put yourself in someone else's shoes. 

 

Maybe this discussion could serve as a safe and neutral space for people to try and understand other people, which is important in the world of tech and especially in regards to this forum (recommendations, prices of tech, etc.) 

I think how expensive depends on what you're going to be doing with it. If you spend 2k on a computer for your job it's worth it because you'll be able to make that money back over time. However if you spend 2k on some earbuds, you're not gonna make any money with them, so it would be not the most efficient use of your money.

[Colty]

30 minutes ago, gal-m said:

 

@Colty I've always been used to paying somewhere around $300 - $500 on a CPU and somewhere from $200 - $300 for a motherboard and somewhere around $500 for a GPU, which for the longest time meant getting an Nvidia 80 series.. Prices nowadays are.. insane, seriously.

In 2012 I made the decision in 2012 to purchase an Intel Core i7-3930K (6 cores, 12 threads) CPU together with an ASUS Rampage IV Forumula (fabulous X79 chipset, quad channel, etc.) motherboard. It did sting a bit, however it was one of the best decisions ever in reference to computers, as the system is still holding its own after 9 years - remember, not much bottlenecking at higher resolutions, aka. 4K + no memory bottlenecking, since it's running 2133MHz RAM in quad channel - similar bandwidth to what you might see today with an Intel or AMD platform, from what I remember.

I also LOVE cars, but the numbers when it comes to cars tend to get higher, no doubt.

 

For me $500 for any single computer component is A LOT A LOT of money.. I don't mind spending quite a bit more every decade (in this case 9 years) and for the components lasting and serving me for a long time as well, but not often

 

What would bother me is e.g. spending let's say $700 for a GPU every couple (2, 3) of years.. (used GPU's here in Slovenia hold a pretty darn terrible resale value, so something like a $700 GPU would sell for around $300 in two or three years - that is up till last year).

For me, I really do expect high end components to last at least two or maybe three generations (4 - 6 years), however that usually, especially in the case of GPU's, doesn't happen, either due to swift evolution of technology or manufacturers forcing the consumer to upgrade prematurely (VRAM limitations when the chip would have been perfectly fine..)

When I first started working, I quickly set out to upgrade from my Dell prebuilt that had a GPU/SSD/PSU thrown in. I got a 7700k, z270 board, 16GB of RAM, a new case, and carried over a few items. I'm still running most of these things years later. I spent over $800 at the time because I knew they would last. Part of me wants to upgrade my cpu/board and get another set of RAM to have 32GB, but it's not a need. I don't really notice issues in games or overall performance. I've had my setup for 4 years, if you break that down to $200/yr of value from it all, I'd say I'm doing okay. I expect to get at least a year or two more out of it and I can always sell it if I do upgrade. As far as GPU's go though, I upgraded a lot during the mining craze, just buying cheap, mining on them, selling them for a little bit more, I've got a 2070 now so I'm doing more than well enough for 1080p/240Hz. 

[gal-m]

1 hour ago, SansVarnic said:

It depends really on what it is you are buying.

I would only spend what I felt something is worth.

 

1 hour ago, Sauron said:

Usually I don't just consider whether I can technically afford something but also whether the thing I'd be buying is worth that sum to me over other things I could be doing with it or saving it for... for instance while right now I can definitely afford a 3090 or three I also don't think it's worth dropping MSRP on, let alone whatever it's going for now on ebay.

Agree with both of you @SansVarnic & @Sauron!

 

1 hour ago, jrhaberland said:

I think how expensive depends on what you're going to be doing with it. If you spend 2k on a computer for your job it's worth it because you'll be able to make that money back over time. However if you spend 2k on some earbuds, you're not gonna make any money with them, so it would be not the most efficient use of your money.

I understand what you're trying to say @jrhaberland, however I'd say it can get really depressing looking at purchases as which one is the most efficient.. Which kind of brings me to my answer to this topic: In the general sense I consider a lot of money a point in life at which a person can choose to spend based on want and not value of efficiency.

1 hour ago, Colty said:

I've had my setup for 4 years, if you break that down to $200/yr of value from it all, I'd say I'm doing okay. I expect to get at least a year or two more out of it and I can always sell it if I do upgrade. As far as GPU's go though, I upgraded a lot during the mining craze, just buying cheap, mining on them, selling them for a little bit more, I've got a 2070 now so I'm doing more than well enough for 1080p/240Hz.

That's awesome @Colty! Sounds like you got your money's worth !

[Intergalacticbits]

I think when it comes to just tech products it is the same for me as for many other people.

It is the fun factor that will make me spend more on that stuff then I really should wisely spend when I can spend.

I think that is what made the whole pc, smart phone or tech industry from the beginning.

 

That is why for the most part except for smart phones. I think many big companies keep putting out products that flounder in sales and popularity with the general buying public. Mostly I would guess because they are super focused on the cost to profit thing.

It seems to me that the big money is in giving us products that have that fun factor and for me that means something hardware I can play with that gives me something to do.

 

I also feel like an all only cloud based, streaming tech product future fits that cost to profit goal for companies but for me unfortunately it is going to be for a large part death to the fun factor.

 

For me fun is hardware to play with plus being able to control the hardware and software products ever more.

Also being able to actually make something physical with the products if possible.

For example burning music disks today is pointless.

Back then though it was fun and I need simple physical things like that in tech products to maximize the fun factor.

 

(Two billion dollars is what feel I would need to be care free happy for life. I'd prefer it all in hundreds lol.)

 

[TorC]

Covering the basic necessities of life plus a little more so I can save a couple months and get that valued "want it" thing -- what it takes to do this is 'just about right, ' IMO.   I could do this right out of High School.  I remember thinking then that having to come up with $2500 for a car or pickup was "a lot of money."

 

Then, I rented an apartment for a little less than $50/month, was making about $500/month.  Now an  even smaller apartment costs $750+ per month.  A factor of 15.  (I am being conservative).  Given this logic, the back then estimate of what a lot of money is has become $37,500. 

 

With maturity and having raised a family and knowing the expense of doing this nowadays (depending somewhat on locale),  I'd have to say around $250k is "a lot of money" in the US of A, currently.

 

I am trying to be conservatively realistic,   but I'm a warped SOB and everyone knows it!     LOL!

 

 

[PlayStation 2]

5 minutes ago, CircleTech said:

Houses in Southern Illinois are 20K:

 

https://www.realtor.com/realestateandhomes-detail/213-S-Emerald-Ln_Carbondale_IL_62901_M79616-21880?view=qv

 

Or Akron, Ohio:

 

https://www.realtor.com/realestateandhomes-detail/1021-Dietz-Ave_Akron_OH_44301_M49832-05085?view=qv

 

It's crap buy hey, $20K.

Yeah, I'm not moving to Crackhead, IL.

[handymanshandle]

1 hour ago, PlayStation 2 said:

Yeah, I'm not moving to Crackhead, IL.

Rivertown, Wis. > Crackhead Village, IL or Methville, OH

[WhitetailAni]

On 2/14/2021 at 1:07 PM, FakeKGB said:

In reference to tech?
Justifying spending $200 on a combo floppy drive or a 3.5" ED floppy drive.

Building on that thought, being able to have enough money to be like "Yeah, I need an SSD to install Big Sur on my Ryzen system. <buys SATA 2.5" SSD> Problem solved!"

[Bombastinator]

My memory is someone diss study long ago about what people though “successful” was. It varied tremendously, but was consistently about 20% more than they had. 

[amckern]

At this point in my life I would say 3 million is a lot of money (price of two average houses in my city).

 

Going back 15 years ago, it would have been $40, I was on unemployment back then, and had little to no money to spend.

[it_dont_work]

On 2/16/2021 at 3:20 AM, SansVarnic said:

It depends really on what it is you are buying.

House, car, pc.... different monetary worth's and different sets of value. I would spend 150-250k USD on a house but I would only spend 1500 USD on a PC. I would only spend what I felt something is worth.

This is the same point I was going to make. 350-400k usd for a house (I'm in Australia so housing is generally more expensive), I'd easily drop a couple thousand on white goods/appliances.

 

Spend a few thousand on a tractor driven post holer and driver for the 'farm' which i thought was expensive for what it is, but then again I've 9km of fence to redo 

 

as for my PC, lucky to spend 1000.  Upgrading my pc is just a luxury item I'd rather not pay for, 

[GDRRiley]

for GPUs I consider over 400$ to be a lot for a upermidrange GPU (x70) class

for CPUs over 300$
monitors above 400-500$

Board over 200$
all these are in USD and based on me looking at hardware for 8-10 years

no for other stuff like cameras, cars I almost always have bought used so the new prices don't matter to me

[RasmusDC]

it all depends on perspective, even though i don´t really like the guy, i saw a video from the VinWiki guy about what he felt was his defining metric of measuring wealth.. and for him, it was the amount of money that he could loose without it stressing him out..

 

I personally have always focused on a bit of the same... setting myself in a situation where day to day expenses is not really a problem..

 

if we get friends visiting, i´ve put myself where, i do what i want, when we have food, so maybe using 200-300 dollars on a good homecooked meal and something to drink, is not something, where i feel they have to "repay me" later.

 

i remember (In DK where cars are amazingly expensive) buying a 1 year old car, that was a dealers car, so 4000Km, and still under warrenty, a 265.000dkk car that had a new price of 380.000dkkr, so a GOOD discount because it was a Mazda that really wasn´t anything anyone wanted (A Mazda 3 2.2 DE Premium sport 186HP diesel) in DK a decent car.. (this is many years ago)

 

i remember HATING that car, and some dealer issues has just made me distrust the car, after 1 month i sold it with a 30.000dkkr loss (around 5000dollars) for me that really did not annoy me.. rather get rid of the issues, than fighting for a long time to make this work..

 

talking electronics i think 500-800 dollars is not really a thing.. YES if it breaks i will use warrenty and stuff, i´m not throwing money away, but i have lots of things with that value, that really just stands in a cabinet.. should sell it... but i don´t really care.

[Professor Pusheen]

$50 and I'm happy

[sub68]

A pair of peltor comtacs

[Dudis]

As others have said, it depends a lot on context.

 

One one hand, i theoretically have a disposable budget of about 1000-1500 euros per month that I just place on my savings account, but on the other hand i bought peripherals for 250 euros a few months ago and that felt like a lot

[spartaman64]

"if you cant buy it twice you can't afford it" guess i cant afford to buy a house or car Kappa. but anyways depends on the definition of a lot. the smallest amount of money that I would definitely notice missing/miss is about 50 dollars. The amount of money that would be "life changing" for me is probably like 20,000

[gal-m]

On 2/17/2021 at 7:28 AM, GDRRiley said:

for GPUs I consider over 400$ to be a lot for a upermidrange GPU (x70) class

for CPUs over 300$
monitors above 400-500$

Board over 200$
all these are in USD and based on me looking at hardware for 8-10 years

Agree with you here @GDRRiley! Those are the kind of prices I've been used to for a LONG time.. almost two decades actually.

Current prices nowadays are a pain  

[gal-m]

19 hours ago, spartaman64 said:

"if you cant buy it twice you can't afford it" guess i cant afford to buy a house or car Kappa. but anyways depends on the definition of a lot. the smallest amount of money that I would definitely notice missing/miss is about 50 dollars. The amount of money that would be "life changing" for me is probably like 20,000

Agree @spartaman64! 

The "a lot" is in reference to tech, however I'm really enjoying reading this discussion, as it's intriguing how different people define a lot very differently.

 

For me it's the same! I'd definitely notice $50 gone missing and $20K VERY helpful, no doubt.

[spartaman64]

5 minutes ago, comander said:

With house and car calculations the comparison should be the next best alternative. Renting or going with a less expensive vehicle. 

 

 

less expensive vehicles can be unreliable and break down often and less fuel efficient so you can be paying more in the long term. same for renting when you buy a house once you paid it off you dont have to pay anymore and you can sell it and get most of your money back. meanwhile renting is basically throwing away money forever.

[Bombastinator]

24 minutes ago, comander said:

Which is why you do TCO calculations, including the possibility of N+1 redundancy. 

 

 

Buying a house has the downside of it tying up money. 

If I put $100k down on a $500k house in 2015 and it appreciated 15%... I'd be in about the same place as if I put that 100k into the stock market and just paid rent while funneling the deltas into the market. 

 

Home ownership also reduces (less so now) career flexibility.  You aren't saving money on rent if you forego a large pay bump. For context, my current job pays around $200,000/year more than my old one. It required me to move. That increase (after taxes) is more than any rent that I'm "throwing away". 

 

Home ownership is probably a better choice from a lifestyle perspective (stability, family life, no upstairs neighbors stomping on the floor, ability to modify things) than a purely financial one... though that's questionable itself (less flexibility in terms of locale, potentially longer commute, unending maintenance, etc.)

Home ownership used to be the main investment methodology in the US because homes generally appreciated in value.   This was not always true.  Around 1900 home generally only maintained value.  These days it seems to vary somewhat. 

[Dundee]

Anything more than CAD$100 is a lot of money to me. Of course it would depend on product to product, but if we talk about money alone, 100 Canadian Rupees is a lot.

[airborne spoon]

to me having a lot of money is having enough money to wear a brand new pair of socks every day for life and not worry about it. That sure would be awesome