“(10-second Window XP boot times do indeed add up when you consider a computer is used nearly every day for years).”

Why are you booting up every day? That’s what sleep and hibernate are for!

[...] Feb. 7th: The curse of the money-saving gadget [...]

1) I do use a breadmaker–I’m on my third. But DON’T think it will save you money; that’s not the point. The point is if you love to make bread, it makes the process easier and quicker. But you have to love it in the first place, which I came to do.

2) A PDA like my Palm isn’t always inappropriate; I have trouble with handwritten notes due to my poor eyesight and my PDA helped that greatly.

3) Computers are the only things I can do with my medical conditions so yes I put the money into them though I do build the machines myself–I’m in IT.

4) Don’t forget that you can just as easily get in trouble buying useless stuff at yard sales or eBay. It might be *cheap* but not necessarily *good* to get. That’s why I never liked the Tightwad Gazette books; too much emphasis on getting stuff cheap without thinking whether it was good to get it or to expend energy in illusory savings in the first place.

But I think the point is still good: I knew myself before I bought stuff.

Take care,
Dave

[...] I read The Curse of the Money-Saving Gadget and felt that guilty twinge. How many devices have I purchased using the rationalization that it will be the device that will save me money, save me time, save me from boredom, or save me from disorganization? I think I have a closet devoted to these devices. The lesson here is simple: know thyself. Before you spend money on a gadget — especially one you believe will save you money — stop to ask yourself if it’s something that you will actually use. Be honest. For some, an espresso machine or an ice cream maker or a voice recorder might be an everyday tool. For others, they’re expensive doorstops. [...]

i definitely have gotten better at distinguishing between want and need. Those wants, I definitely think about harder than I did before.

[...] The Curse of the Money-Saving Gadget [...]

Solution) Block the QVC and HSN channel on the tv, and block it on the web site – just tell her they’re ‘not working’.

When considering a “gadget” purchase, it does make sense to wait 30 days. For example, I recently wanted to replace my “slow” Canon digital camera with a new Nikon digital SLR. But I waited, and I’m glad I did — the current camera I have works great. I’m not shooting covers for Sports Illustrated; the DSLR would have been me throwing money away.

Just waiting 14 or 30 days is the key. If more people did this, they’d have a lot more money to put in the bank for investments. But instead of their money working for them, it’s been thrown away on useless “gadgets.”

On the other hand, I always spend top dollar to get the best gadget that I know I will use. For example, computers: I know I will use the computer every single day for work, for managing investments, and for saving time by avoiding stores/malls/restaurants.

A fast computer is important for efficiency. Hence I spend the money for a top-of-the-line computer, with plenty of RAM, a booming 10,000 rpm hard drive, and a nice big LCD monitor to boot. Why?

I’ll have the computer and monitor for many years to come, it’s lightning fast, and it saves a ton of time in getting important things done (10-second Window XP boot times do indeed add up when you consider a computer is used nearly every day for years). Thus the top-flight computer and monitor together are big, amazing time-savers and worth the investment.

Same thing with our television. Instead of wasting money on movie theaters, sporting events, and all kinds of income-sappers, I instead did lots of research and purchased a top-flight HD TV. We use it a lot to watch movies, excellent educational programs, and watch sports and similar events from the comfort of the living room.

When you consider going to the movies nowadays costs $20, minimum, and other events cost literally hundreds of dollars (been to a baseball or football game lately?), I found the HDTV to be an excellent entertainment investment we’ll use for a decade.

To sum, if you are certain the purchase you are contemplating will, without doubt, be used by you, and it will increase efficiency or save money, it makes sense to buy quality.

But if you’re uncertain whether an item will be used, stop. Stop and wait 30 days before you make that purchase.

1) “The last time I got something similar to X, what happened was…”
I have enough evidence now to know that I always think I’m going to get enough use out of something, but the reality may be different. If last time I didn’t use the organizational system/ exercise equipment/ kitchen gadget, where’s the evidence that I will this time?

2) “Prove your commitment first.”
Rack up 500 miles or 1000 miles on your decent bike before upgrading. Limit meals out to once a week for a few months before getting a new saucepan. It’s easy to justify to yourself that it’s cheaper to buy good equipment straight off, but it’s not cheaper if you don’t use it! And oftentimes you’ll find that cheaper decent equipment will suit you fine.

3) “If you’re in an aspirational mood, do something using what you’ve already got.”

If I’m feeling musical, I should play the recorder I already have, and not buy a new keyboard. If I want to study a language, I should read the Japanese novels I already have. 80% of anything you want to cook can be cooked with a half-decent skillet and a half-decent saucepan.

These rules have exceptions! Bad equipment can cost you time, and make you lose your enthusiasm. But we all know the guilt trip induced by that gadget that promised us a better life if only we could be bothered to use it.

I avoid buying gadgets and other things these days, as they would just clutter up and complicate my life.

In tandem with this way of living has been a developing skepticism of the role of technology and gadgets in my life. Of course, I have kitchen appliances, a computer, and other machines, but I’ve been very happy for years without a tv, and I can’t say my life is at a loss without a cell phone, palm pilot, and such. I guess if you can train yourself to value a moderate or simple approach to gadgets, you’ll be able to put them in context and purchase cautiously.

All their lives my parents have been inveterate collectors of “stuff.” My dad has four or five computers (most non-functional) around the house, three automobiles (he only uses one), and all sorts of other things he really doesn’t need. Perhaps the act of purchasing a gadget has a therapeutic effect; perhaps you feel like you’re part of some inner circle of savants, or a prestigious community. But every time I see my parents’ house, filled with all of that stuff, I remind myself that Simple is Better!

I love Jag’s suggestion to try the “free” exercises for a month before committing to a gym or a treadmill.

Buying a cup of coffee is more convenient than to make it at home and sometimes we do not want to break the convenience habit. So we continue to buy.

Your friend just did not want to break his convenience habit.

I also use a 30-day list. If I want something, I put it on the list. In 30 days if I still want it, I allow myself to get it. I do this with bookmarks in Firefox. I go “shopping” and bookmark everything I want. Then as the month goes by, I delete things that lose their appeal.

I also “shop” at the library. My library, like most, has an online catalog and if I can find books about the items (candle making supplies, for example–or dwarf hamsters) I want to get, then I get them from the library. This satisfies my urge to shop because I get to bring something home from somewhere.

It might be cheaper if you’re just making plain vanilla all the time, but even then it really wouldn’t be that great of an investment if you’re just trying to save money.

One item, however, which I really do enjoy is my Ipod. I received a ‘freebie’ one-gig Nano for opening up a new chequing account, and I love it. I used to be somewhat of an audiophile and listened to music constantly, but just don’t have the time for it any more. The Ipod allows me to listen ‘on the go’, which is wonderful.

That aside, too many items I’ve bought in the past ended up in the gadget graveyard.

“Our inventions are wont to be pretty toys, which distract our attention from serious things. They are but improved means to an unimproved end.” – Henry David Thoreau

And I don’t know what people see in those Moleskine pads. Does the Hemingway thing have that much appeal? I look at the display at Barnes and Noble and wonder how this is really that much better than my cheap-o Staples legal pads.

Thanks to Annalisa for the Craigslist suggestion. We have been wanting a breadmaker for a while, and Craigslist hadn’t really crossed my mind for that sort of thing.

Back when Martha Stewart started becoming a cultural force, I heard someone explain why her domestic projects had such resonance–that they were “time porn”. People fantasized about having the luxury of time and mental space to take on a project like gilding their driveway, or whatever.

I think your idea about the aspirational aspect of kitchen gadgets is right on, and along those same lines. Is it time porn? Food porn? Some of both?

As for exercise equipment. See if you can stick to a regular running routine outside for several months before you buy a treadmill. Or try doing pushups and situps 3x a week for 3 months straight before you buy weights or an ab-roller. If you can’t stick to the “free” exercises, you won’t use the equipment either.

The beauty of this realization is that when you buy things brand new, they become used and dirty after just one use. Might as well save about 90%…even if you have to clean the gadget before you use it the first time.

Curse of the money-saving gadget…

JD has written a great personal account on his “Get Rich Slowly” blog about the curse of money-saving gadgets – the innovative pieces of high-tech gear that are bought, used a few times, and then promptly put in the corner……