Large purchase anxiety!

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
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StevieG72
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Large purchase anxiety!

Post by StevieG72 » Tue Jan 03, 2017 7:26 am

Ok guys & gals, don't beat me up too badly...

Sometimes talking about a problem helps...

I tend to get genuine anxiety over large purchases. It started with my house, at closing I got a less than favorable moisture termite inspection and continued as I dealt with a few minor issues upon moving in.

Newer car in 08, anxiety....Gas mileage was worse than my previous vehicle and at the time gas was over $3.00 a gallon. Car was under warranty so no concerns about maintenance or reliability.

2 NEW motorcycles--- I could have killed myself, but no anxiety over these, maybe the fun factor outweighed the anxiety.

Used boat in 2015 for $15,000- New motor which is under warranty until 2020. My first boat, LOTS of anxiety over this purchase which lasted a few weeks easily. Lots of unknowns so this one doesn't surprise me. Subsequent damage to new boat caused anxiety as well.
I am really pleased with my boat now and have enjoyed many trips with friends and family.

Next up is a new 2016 4Runner that I will likely close on this week. My primary vehicle was rear-ended last week and will likely be totaled. I have wanted a 4Runner for many years and bought my last vehicle instead of a 4Runner because I found a great deal. They are not cheap but I can afford one without taking out a loan. Yes, I am maxing out retirement, emergency fund, no debt other than mortgage etc. The financial piece is not an issue. I will drive this vehicle 10yrs plus min. I tend to keep my vehicles for many years.

I grew up poorer than a church mouse so I tend to be frugal, typically prefer spending money on travel / experiences vs. material things. Not sure if that is a factor or not.

Anyone else have this issue?
Fools think their own way is right, but the wise listen to others.

student
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Re: Large purchase anxiety!

Post by student » Tue Jan 03, 2017 7:59 am

I have anxiety over most large purchases and other unexpected events.

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just frank
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Re: Large purchase anxiety!

Post by just frank » Tue Jan 03, 2017 8:06 am

I only have anxiety over hedonic creep. But then I don't buy boats or 'tend to be frugal'. :twisted:
Last edited by just frank on Tue Jan 03, 2017 2:54 pm, edited 1 time in total.

Tamalak
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Re: Large purchase anxiety!

Post by Tamalak » Tue Jan 03, 2017 8:12 am

If anxiety is ever justified, it is justified in the case of large commitments. I cancelled plans to buy a house because of sticker shock anxiety and I am very glad that I did.

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Toons
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Re: Large purchase anxiety!

Post by Toons » Tue Jan 03, 2017 8:24 am

No anxiety over large purchase whatsoever.
In my mind ,
I have made the right decision at the time.
Matter of fact I have a large investment purchase today,
It is right for me ,,,
Relaxed as can be
:D
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

Jamieson22
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Re: Large purchase anxiety!

Post by Jamieson22 » Tue Jan 03, 2017 8:49 am

StevieG72 wrote:
Newer car in 08...

2 NEW motorcycles...

Used boat in 2015...

Next up is a new 2016 4Runner...

...so I tend to be frugal
Not sure everything preceding the last comment supports it.

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KlingKlang
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Re: Large purchase anxiety!

Post by KlingKlang » Tue Jan 03, 2017 8:55 am

I tend to have some emotional whiplash for a couple of days after a large purchase. It's usually not about doubting the decision process, and I never finance anything (even houses), so I think that's it's mostly about just parting with a lot of money.

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sunny_socal
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Re: Large purchase anxiety!

Post by sunny_socal » Tue Jan 03, 2017 9:37 am

At least you didn't buy a $14k diamond ring! :mrgreen:

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Sandtrap
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Re: Large purchase anxiety!

Post by Sandtrap » Tue Jan 03, 2017 9:58 am

Financial decisions require a deliberate, unemotional, methodical, structured, and objectively computational, approach. OCD?
Anxiety = emotion, doubt, second thoughts, buyers remorse (common).

Though I will "vacillate" :| buying an upgrade ssd drive :dollar for my macbook pro.

stoptothink
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Re: Large purchase anxiety!

Post by stoptothink » Tue Jan 03, 2017 10:55 am

I think the only large purchase where I didn't immediately have some form of buyer's remorse and/or anxiety was our home. It's happened with every car I've ever purchased (3 in almost 20yrs of driving), all my motorcycles (a very expensive hobby that I gave up when I decided to start a family), and pretty much every large consumer item. With our home, we bought well within our means (at the time, 1.4x household income, and just a year later 1.1x) and we got exactly what we wanted in the neighborhood we wanted.

smitty1515
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Re: Large purchase anxiety!

Post by smitty1515 » Tue Jan 03, 2017 1:27 pm

A few years ago we were house shopping. We were in the process of selling our current house and having a new home built. Long story short, I was anxious, sleep deprived, stressed at work, traveling for work, and had been battling a virus. On a Saturday morning when we were signing the papers to seal the deal I passed out in the builders office.

Now I've always been wound up a bit, but under normal circumstances I am able to manage it with proper sleep, exercise, breathing techniques, imagery, proper diet, and prayer. I empathize with your struggle and wish you the best moving forward.
Be fearful when others are greedy and greedy when others are fearful. -Warren Buffett

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Nestegg_User
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Re: Large purchase anxiety!

Post by Nestegg_User » Tue Jan 03, 2017 1:39 pm

Jamieson22 wrote:
StevieG72 wrote:
Newer car in 08...

2 NEW motorcycles...

Used boat in 2015...

Next up is a new 2016 4Runner...

...so I tend to be frugal
Not sure everything preceding the last comment supports it.
+ 100


We tended to keep our cars at least ten years-- eight years we figured was break even-- so getting two NEW cars, along with two NEW motorcycles, may be a bit much. Did you pay cash for any of them?

What is your emergency fund like-- do you have 6-9 months or are you raiding it for your purchases?

For us, we didn't have remorse for vehicle purchases as we researched them, bought what we needed--you need to understand how you will use it in the future--, and either paid cash or used the zero percent financing for purchase (with cash available to pay in full).

blueberry
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Re: Large purchase anxiety!

Post by blueberry » Tue Jan 03, 2017 1:46 pm

I tend to worry a lot before making a large purchase, then move on once the damage is done, haha. I pay cash for things that aren't an investment.

-bb

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bottlecap
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Re: Large purchase anxiety!

Post by bottlecap » Tue Jan 03, 2017 1:53 pm

I would have anxiety, too, if I made so many large purchases... Wow.

We had the money growing up, but rarely made large purchases. I've never felt the need to change that strategy.

JT

JD2775
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Re: Large purchase anxiety!

Post by JD2775 » Tue Jan 03, 2017 2:14 pm

4-Runners are sweet. Will this be your daily driver as well? How many miles approx in a year?

I had the same anxiety as you when I got my TRD Tacoma. Expensive, "gas guzzler", but I love it. I bought it new in 2013, I know I will have for 250-300k hopefully easily. Paid it off in 2.5 years on a 5 year loan. Reliable. Only negative like I said is the gas (4-Runners are slightly worse I think), but other than that no regrets at all.

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rustymutt
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Re: Large purchase anxiety!

Post by rustymutt » Tue Jan 03, 2017 4:23 pm

Hi Stevie. Have any of the anxieties become reality? Looking back can you remember that some of those intense "yet quite real" anxieties came to conclusion? We all have worries, and anxieties, but just learn to deal with it. Even if some do end in reality, you can't stop living. I wouldn't worry about worry Stevie. LOL, find something to laugh about, then share it with us.
I would be the first to worry about large purchases, like the one I'm toying in my head right now. I won't bore you with my details. I might do it, I might not. We'll see.
I'm amazed at the wealth of Knowledge others gather, and share over a lifetime of learning. The mind is truly unique. It's nice when we use it!

mancich
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Re: Large purchase anxiety!

Post by mancich » Tue Jan 03, 2017 4:40 pm

rustymutt wrote:Hi Stevie. Have any of the anxieties become reality? Looking back can you remember that some of those intense "yet quite real" anxieties came to conclusion? We all have worries, and anxieties, but just learn to deal with it. Even if some do end in reality, you can't stop living. I wouldn't worry about worry Stevie. LOL, find something to laugh about, then share it with us.
I would be the first to worry about large purchases, like the one I'm toying in my head right now. I won't bore you with my details. I might do it, I might not. We'll see.
+1
It is often helpful to look back at all the worries over the years, and reflect on how many actually came true. That said, I think having a "little" anxiety over a large purchase is probably normal, especially with the frugal bunch that makes up this forum, but if it becomes debilitating, that is maybe worth a little bit of therapy.

Colorado13
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Re: Large purchase anxiety!

Post by Colorado13 » Tue Jan 03, 2017 8:26 pm

I have vehicle purchase anxiety. I'm saving cash for my next purchase and I'm not having a hard time saving the $ for the car. I am having trouble wrapping my head around spending more than $20K for a vehicle, even though I plan to keep it for 10 years (current vehicle is 11 years old.) I would have major anxiety with a boat, motorcycles, and 4 Runner, but the Toyota should last a long time.

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StevieG72
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Re: Large purchase anxiety!

Post by StevieG72 » Tue Jan 03, 2017 8:50 pm

OP here....

I guess frugal is a relative term! I live well below my means.

08 vehicle purchase was a newer car (just under 20,00 miles) I have never purchased a brand new car or truck.

Bought first motorcycle and traded it in on second motorcycle within two months. HD had a "Ride Free" program so I did not lose anything, not even tax on the trade. Second motorcycle has since been sold because the thrill was gone and I would like to see my daughter grow up! Motorcycle purchase was alot of fun, glad I got rid of mine though. A close friend of mine has been out of work for going on 3yrs due to an accident.

Bought boat with funds from motorcycle sale. So I am not stockpiling toys and claiming to be frugal!

I agree owning a boat is NOT frugal!

Friends and family that have a general idea of my income consider me frugal. They may even call me cheap!?
Fools think their own way is right, but the wise listen to others.

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StevieG72
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Re: Large purchase anxiety!

Post by StevieG72 » Tue Jan 03, 2017 8:52 pm

sunny_socal wrote:At least you didn't buy a $14k diamond ring! :mrgreen:
AGREED!
Fools think their own way is right, but the wise listen to others.

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StevieG72
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Re: Large purchase anxiety!

Post by StevieG72 » Tue Jan 03, 2017 8:57 pm

smitty1515 wrote:A few years ago we were house shopping. We were in the process of selling our current house and having a new home built. Long story short, I was anxious, sleep deprived, stressed at work, traveling for work, and had been battling a virus. On a Saturday morning when we were signing the papers to seal the deal I passed out in the builders office.

Now I've always been wound up a bit, but under normal circumstances I am able to manage it with proper sleep, exercise, breathing techniques, imagery, proper diet, and prayer. I empathize with your struggle and wish you the best moving forward.
Thanks, I will have to try some of those techniques.
Fools think their own way is right, but the wise listen to others.

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StevieG72
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Re: Large purchase anxiety!

Post by StevieG72 » Tue Jan 03, 2017 9:03 pm

rustymutt wrote:Hi Stevie. Have any of the anxieties become reality? Looking back can you remember that some of those intense "yet quite real" anxieties came to conclusion? We all have worries, and anxieties, but just learn to deal with it. Even if some do end in reality, you can't stop living. I wouldn't worry about worry Stevie. LOL, find something to laugh about, then share it with us.
I would be the first to worry about large purchases, like the one I'm toying in my head right now. I won't bore you with my details. I might do it, I might not. We'll see.
yeah, I agree I need to lighten up.

you calling me Stevie gave me a chuckle.
Fools think their own way is right, but the wise listen to others.

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StevieG72
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Re: Large purchase anxiety!

Post by StevieG72 » Tue Jan 03, 2017 9:10 pm

Nearing_Destination wrote:
Jamieson22 wrote:
StevieG72 wrote:
Newer car in 08...

2 NEW motorcycles...

Used boat in 2015...

Next up is a new 2016 4Runner...

...so I tend to be frugal
Not sure everything preceding the last comment supports it.
+ 100


We tended to keep our cars at least ten years-- eight years we figured was break even-- so getting two NEW cars, along with two NEW motorcycles, may be a bit much. Did you pay cash for any of them?

What is your emergency fund like-- do you have 6-9 months or are you raiding it for your purchases?

For us, we didn't have remorse for vehicle purchases as we researched them, bought what we needed--you need to understand how you will use it in the future--, and either paid cash or used the zero percent financing for purchase (with cash available to pay in full).
08 car purchase wasn't new, it was newer. 2007 Ford Escape with under 20,000 miles. I have 143,000 miles on this Escape and was hoping to get 200,000 miles before getting anything else. I was in a car accident last week and it will likely be totaled.

Paid cash for all of my purchases. Emergency fund was not touched.

And by all means a new 2016 4Runner is not frugal! I could buy a used Camry, that would be frugal!
Fools think their own way is right, but the wise listen to others.

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StevieG72
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Re: Large purchase anxiety!

Post by StevieG72 » Tue Jan 03, 2017 9:28 pm

JD2775 wrote:4-Runners are sweet. Will this be your daily driver as well? How many miles approx in a year?

I had the same anxiety as you when I got my TRD Tacoma. Expensive, "gas guzzler", but I love it. I bought it new in 2013, I know I will have for 250-300k hopefully easily. Paid it off in 2.5 years on a 5 year loan. Reliable. Only negative like I said is the gas (4-Runners are slightly worse I think), but other than that no regrets at all.
Yes it will be my daily driver. I averaged 14,500 a year in my Escape, funny thing is I was TRYING to put miles on it to reach 200,000!
Fools think their own way is right, but the wise listen to others.

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Re: Large purchase anxiety!

Post by LadyGeek » Tue Jan 03, 2017 10:43 pm

This thread has run its course and is locked (emotional, not a direct consumer issue, discussion is not focused). See: Personal Consumer Issues
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Note that topics must be directly connected to your (or your friend's or family's) life as a consumer. General comments or complaints about these topics will be removed.

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