Comments on: A coffee pot is not an "investment"

By: ksb5

ksb5 — Sat, 03 Oct 2009 10:25:28 +0000

I love this story.

By: kitchenaid superba architect

kitchenaid superba architect — Wed, 30 Sep 2009 08:19:51 +0000

great post.

By: Debt Management

Debt Management — Wed, 23 Sep 2009 06:51:35 +0000

Good article. You could extend the comparison even further by comparing the price of a cup of coffee from your “new” french press, putting it in a flask and taking it to work, against the cost of a coffee from Starbucks everyday on the way to work. I bet the differential would be even wider lol.

By: Mesothelioma

Mesothelioma — Tue, 22 Sep 2009 16:11:01 +0000

Great point. Purchasing items based on their function rather than their design is a much more reasonable way to use your budget.

By: Chicago Injury Lawyer

Chicago Injury Lawyer — Wed, 16 Sep 2009 13:58:52 +0000

Well thought out. I think it’s important to really think about your budget, but it’s also important to remember that everyone’s “needs” are different. When thinking about your budget you should make sure that what you consider “needs” are reasonable and within your spending limit.

By: fcs

fcs — Tue, 25 Aug 2009 16:28:13 +0000

I generally agree with the idea behind this post (especially: “Removing temptations to spend — unsubscribing, for instance, from blogs that are all about cool new products you can buy.”) but I’m not sure this coffee maker is the best example to use. The value of a product is not measured only by its utility. Some people want nice looking coffee makers. They are willing to pay extra for them. The word “investment” does not refer solely to the possibility of monetary returns, but to more intangible returns as well. Presumably you do not purchase clothing based only on its ability to keep you warm and protect you from the weather, or purchase food based only on reading the nutrition label. The same applies here.

By: Mister B

Mister B — Sat, 20 Jun 2009 09:53:45 +0000

Obviously, the term “need” is relative to the time and space in which it is used herein. To call a cup of morning coffee a “need” is laughable to some, but entirely acceptable to many. The “need” however, for a nicer coffee maker is not acceptable to many. To some people, however, whose paradigms have twisted and to whom aesthetic has replaced necessary, a newer, nicer French press might be just what the doctor ordered.

By: spending to save | the ¢entsible life

spending to save | the ¢entsible life — Thu, 28 May 2009 14:02:41 +0000

[...] A need can be defined as something that you must have in order to live your life effectively. Like a vacuum cleaner, or a pair of comfortable shoes. But the need can easily be replaced with a want which I define as something that you either a) don’t need b) talked yourself into thinking it is a need or c) advertising worked its’ magic and convinced you you of how awesome your life would be with your new widget. [...]

By: How Should I Invest My College Money? | Politics News

How Should I Invest My College Money? | Politics News — Mon, 25 May 2009 08:00:48 +0000

[...] Wesabe: Your money. Your community » Archive » A coffee pot is not … [...]

By: Tristan

Tristan — Sat, 23 May 2009 17:11:05 +0000

I just wanted to say that I love this post. It’s great to think about what you actually need, rather than getting the best price on a product you want. The best savings is not buying anything at all.

I also absolutely love the diagram illustrating this. Nice!

bp313 – I think how you define the value of something is entirely up to you, and it’s not all to do with the initial cost. For example, I buy Patagonia jackets even though they’re almost twice as expensive as competition because they’re 1) extremely high quality and work better, 2) will last longer because of that, and 3) have a lifetime warranty. This essentially means I get a jacket for life, which is worth a lot more to me than the initial cost savings of an inferior brand. Many things work this way, and if you factor in quality and value to you over time, then the initial cost savings may not be the most important part of the total cost. But I think it’s good to think about what you actually need, and whether there’s a better way to fulfill that need that’s cheaper overall (taking into account lifetime cost and total value to you). Sometimes it’s even valuable to renegotiate your needs with yourself, but that’s a different matter.