How many of us buy watches considering them as timekeepers? Most of us feel that purchasing a watch is essential as it can symbolize status and even a form of self-expression.
However, as with any consumer product, it can be tempting to upgrade to the latest and greatest model constantly. But is this really a good idea? In this blog post, we’ll explore the reasons why frequently buying new watches may not be the best choice and how investing the same money in other areas could be more beneficial in the long run.
Watches are ridiculously overpriced:
We often find watches to be too pricy than they should be. Why? It’s just a business game played by different brands where they successfully condition our brains in such a way because of which we unconsciously believe that it’s completely fine to invest in costly watches.
One of the main reasons why frequently buying new watches may not be the best choice is the cost. While some watches can be pretty affordable, others can be extremely expensive, with prices reaching into the thousands or even lakhs of rupees. Over the course of a decade, you may end up spending a significant amount on watches that could better be spent elsewhere.
You are not only wasting money but also damaging the environment:
Cost isn’t the only factor to consider when it comes to frequently buying new watches. There’s also the environmental impact to consider. The watch industry is a significant contributor to pollution and waste. From the mining of raw materials to the manufacturing and transportation of the finished product, watches have a significant carbon footprint. By constantly buying new watches, you are not only wasting your hard-earned money but also contributing significant damage to mother earth. So, please make yourself aware of the indirect damage you are causing to this planet before making a purchase.
Why not consider Vintage and second-hand watches?
One of the best ways to fulfill your desire without spending a lot and not damaging the environment is by buying second-hand watches. You can spend the amount you saved here elsewhere in a meaningful way.
Not only are these options often more affordable, but they also have the added bonus of being more environmentally friendly. By choosing a pre-owned watch, you’re giving it a new life rather than contributing to the demand for new watches and the environmental impact that comes with it.
What would happen if you chose to invest the same amount?
Let’s suppose you have one lakh rupees with you, and you have two options either to buy an expensive watch or to invest in the US stock market. If you go for
buying, you should know that it’s a liability which will depreciate in value over the course of time, and the worst part is you may feel bored with it and start desiring to go for a new model which will again cost you a hell lot of money.
On the other hand, if you choose to invest in the US stock market with the same amount, you will find that the money starts working for you silently. By doing so, you will not only beat inflation but also have a secondary source of income, using which you can have a better lifestyle. So, be wise and know the difference between an asset and a liability, and make sure that you make money work for you instead of you running behind it all the time just to buy things that won’t make any difference in your life even if you don’t possess them.