Can I Afford a $5,000 Watch?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 7 March 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.7	25. I have no debt at all. My net worth, I guess, with investments in cash,
0:13.1	sits around 133, depending on how the market is. And last year I took around 125,000 home. Um, and I want to buy a watch, a luxury watch,
0:25.6	a tutor. Um, it's, it will range probably with tax around 5 to 6K. Um, I already have a Rolex.
0:32.2	And so I guess my question is, with my finances, no debt, nothing, what is an appropriate amount of money to spend on a luxury watch?
0:40.6	And if so, you know, does this make sense for me as a want, not necessarily need to spend,
0:46.3	you know, this amount of money on a watch?
0:50.1	Yeah, I mean, I think just a couple like tactical money questions. Do you, so you got, you have no debt.
0:57.4	None. And you have savings and emergency fund? Yep. Okay. Yeah. How much liquid cash do you have beyond your emergency fund?
1:08.2	Beyond my emergency fund, probably 35.
1:11.8	35,000?
1:13.4	Yeah, and then I have obviously 401k, my Roth, and then...
1:17.7	All your investments and stuff.
1:19.8	Yeah.
1:21.0	What will this watch bring you, like, in your chest?
1:24.6	Like, if you have your fist on your chest, what will this watch bring you?
1:29.0	I don't know.
1:29.7	I kind of appreciate, I guess, the craftsmanship.
1:32.9	It's a nice watch.
1:34.0	It looks cool.
1:34.6	It doesn't do anything different than my phone, you know, flipping it over.
1:37.8	Sure.
	...

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