Author Topic: How much to spend on a new TV?  (Read 1122 times)

ck425

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How much to spend on a new TV?
« on: May 14, 2019, 05:18:04 AM »
Hi All,

Back in January I bought a lovely new flat for a cracking price and I the seller sold me most the furniture so I didn't need much to furnish it (in hindsight I still went a tad spendypants in Ikea). The furniture included a 42" TV however the main room is massive (7.7m by 4.6m, big for the UK) and so the TV is super small in the space. It just gets by for TV but is useless for gaming. It's also 10 years old and occasionally goes on the fritz. So I decided to buy a new one and I waited till now because this is the cheapest time of year (end of the yearly cycle, so massive discounts to get rid of 2018 stock). The question is how much I should spend?

I'd like something big enough to game on and something big enough to host. Given the room size I think 55" or 65", 55" being a tad small for gaming and 65" being perhaps to big. You don't commonly get anything inbetween in the UK. I found on gumtree a 65" for £800, which currently sells for £1150 (originally ~£2000). This is cheap for a 65" but I could get a 55" for ~£550. It would be perfect for hosting and gaming but my frugal side thinks it's a complete waste of money. I've also treated my self recently to £120 of clothes (first time in a while) and £80 on audio equipment I've been considering for two years plus some weddings and I'm renovating a flat atm so I'm feeling super spendy.

Can I justify buying this? I do spend a reasonable amount of time watching netflix and playing PS4, which I enjoy even if it's not the best use of my time. I also host every month or so and it would help with that.

So bring it on. Slap some sense into me or tell me I'm being overly anxious.

nereo

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Re: How much to spend on a new TV?
« Reply #1 on: May 14, 2019, 05:35:04 AM »

Can I justify buying this?

Well, you've told us a great deal about why you want a non-necessary item, but nothing about your personal finances.
Do you have debt?  A surplus of cash each month? Savings?  What are your financial goals?

The fact that you call a 42" "super small" and that it "just gets by for TV" says something about your wants

marty998

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ck425

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Re: How much to spend on a new TV?
« Reply #3 on: May 14, 2019, 06:49:05 AM »

Can I justify buying this?

Well, you've told us a great deal about why you want a non-necessary item, but nothing about your personal finances.
Do you have debt?  A surplus of cash each month? Savings?  What are your financial goals?

The fact that you call a 42" "super small" and that it "just gets by for TV" says something about your wants


I'm debt free other than mortgages and UK student loan. The latter is both highly regulated and thus more a temp 9% tax and it's also about 8 months from being gone. My mortgages are:

Residential - £135k @2.32% fixed 3 years 35 years
BTL interest only - £86.25k @2.77% fixed 5 years

Currently saving around £700 a month (after all expenses including BTL mortgage), plus £2k bonuses each year. I've £19k in cash (currently renovating the BTL then back into vanguard ISA) and ~£45k in property capital. Both properties are in fast growing areas with strong yields. Estimated annual profit after payments, repairs, voids etc of £4,692.60.

Aim is to retire in ~9 years (36/37). I still need to rerun numbers after renovated flat is done and leased. That income will go into pension at first for tax advantages but will provide living income afterwards. I need £12k a year to live on and pay current mortgage. Presuming the rental flat stays the same (it won't but for the sake of argument), I need about £180k by the 4% rule. However I'll have my private pension by 60 and based on current calculations that should have ~£400k (ie more than enough), so the lump sum only needs to last 26 years. I still need to find a calculator for the math. I also plan to work as an actor after 'retiring' so will have some *small* amount of income. Plus tech consultancy work is an option (I program and do organisational change work atm).

tl:dr My financial goals and my plan to reach them are reasonably solid. This purchase wouldn't help but it would be relatively minor blip. I would also add that I'd expect any new TV to last minimum of 6 years warranty, ideally 10 years.

Also when I say 'super small' I mean for the space. Unfortunately there's no nice way to reconfigure the room to put the sofa and TV closer. I previously used a cheap secondhand 27" monitor up close for 5 years, it was great. But I can't see a way to make that work in my current place :( I've been there 4 months and have tried.
« Last Edit: May 14, 2019, 06:51:22 AM by ck425 »

use2betrix

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Re: How much to spend on a new TV?
« Reply #4 on: May 14, 2019, 07:31:26 AM »
I personally would not buy a TV that’s costs approximately 1 months worth of savings.

It also depends largely on how soon you want to FIRE. If you love your job, location, etc., and plan to work a long time, the enjoyment of the TV may be more worthwhile.

Khaetra

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Re: How much to spend on a new TV?
« Reply #5 on: May 14, 2019, 07:43:03 AM »
I bought my Sony 4K 55" last Prime Day for under $500 (American dollars), so deals for bigger screens are out there.  I see your overseas but it might not hurt to look online, just be sure to read reviews.

Rosy

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Re: How much to spend on a new TV?
« Reply #6 on: May 14, 2019, 07:57:52 AM »
Your finances appear solid, your spending is 12K a year - congrats:), those student loans will be gone in 8 months which leaves you with mortgages only.

1. You already have plenty of cash reserves, plus extra money set aside for your flat renovation and you are still saving $700.
2. You will have more money coming in from rentals plus freed up cash from the paid off student loans.

There are two ways to answer your question
TV-Gaming-Netflix and even hosting as you do on a monthly basis are not a need - but a lifestyle.

My answer is to purchase a TV in a large enough size to suit every one of your purposes because you use it often, you enjoy gaming and Netflix and you can afford it.
It sounds like you are at the end of a round of spending that was a long time in coming and like most MMMrs you now question yourself.

One can do without or one can enjoy the pleasure of having friends over and relaxing of an evening with all the techie toys. The choice is yours and as far as I can tell you've thought about this purchase from every angle.
Yes, there is lifestyle creep and we should be smart enough to avoid most of that, but there is also such a thing as living well in our own fashion while we pursue our life goals.

P.S. I know I haven't answered the $ question, but it is irrelevant, (keep it in perspective - you are not buying another house) - buy the TV that suits your needs and your personal lifestyle.
Hope you find a great deal!:)

habaneroNorway

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Re: How much to spend on a new TV?
« Reply #7 on: May 14, 2019, 08:06:00 AM »
If we assume 7% compounding and the TV to last 10 years (which is probably a bit optimistic...). The TV is costing you ~1575GBP. That is money, but as a source of entertainment over 10 years I don't find it that bad if watching TV and playing video games is your thing. You could of course save more on not watching TV, not buying video games / game console and not subscribing to Netflix, but in terms of "entertainment pr. unit cash" its far from the worst you can do. It can provide hours and hours of something you like for a fixed sum. As long as you avoid the urge to always have the latest & greatest (meaning replacing the TV every 2-3 years or so) it won't hurt too much.

There are generally quite good deals to be found 2nd hand. People do upgrade often.

I have a 65" TV in my small mancave in the house and there is no way Im going back to a smaller (no plans on replacing it as long as it is still working, however).


six-car-habit

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Re: How much to spend on a new TV?
« Reply #8 on: May 14, 2019, 10:39:02 AM »
 " I also host every month or so and it would help with that."

 By "hosting" do you mean you have friends over for conversation and food / drinks ?
  Are you hosting PS4 parties ?

  if its food + conversation, you don't need a large TV - the people are coming over to spend time with YOU the person, not you the TV owner. I imagine they have their own large TV's.
   If it is 4 friends sitting around all playing PS4 , you still don't need a monster TV , you need snacks and drinks.

 Can you run around the block without getting winded and out of breath ? - if not - time to put down the playstation controller and play some real games, with real people, that takes real effort, sweat, and technique...
  I'm sure your hand-to-controller dexterity is awesome, but it just does not compare with physical activity in the Real world.
  IF you already Regularly perform some sort of physical activity / sports league, than i have no problem with video games for '"relaxation".

habaneroNorway

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Re: How much to spend on a new TV?
« Reply #9 on: May 14, 2019, 10:55:01 AM »
Its just a question of level of badassity / how hardcore you intend to be. Financially speaking there is no problem for you buying a fancypants large TV. You can easily afford it and your overall spending level is in general low and you save a good ammout every year. As long as you understand the long-term implications of such purchases you are able to make an educated evaluation. Noone can make that decision for you. Do you feel it's worrth it? Go for it. If not, skip it. It seems like you have tought it over for quite some time and not dismissed the idea., so I'm pretty sure you are gonna end up with a large TV one way or another. And that is ok.

APowers

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Re: How much to spend on a new TV?
« Reply #10 on: May 14, 2019, 12:20:36 PM »

Can I justify buying this?

Well, you've told us a great deal about why you want a non-necessary item, but nothing about your personal finances.
Do you have debt?  A surplus of cash each month? Savings?  What are your financial goals?

The fact that you call a 42" "super small" and that it "just gets by for TV" says something about your wants

42" is, ime, quite a large tv. Even the ~24" 4:3 CRT tv that I grew up playing Super Mario Bros on was not "super small". You can "justify" anything you want, but this is reaching, imo. Don't buy stuff just because you're feeling spendy and want to upgrade this particular gazingus.

bacchi

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Re: How much to spend on a new TV?
« Reply #11 on: May 14, 2019, 12:31:48 PM »
Buy used. There are gobs of people upgrading their TVs for larger ones. Take advantage.

ReadySetMillionaire

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Re: How much to spend on a new TV?
« Reply #12 on: May 14, 2019, 12:33:21 PM »
TCL makes great, large screen TVs.  I bought a 55" for my office and it is fantastic.

doingfine

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Re: How much to spend on a new TV?
« Reply #13 on: May 14, 2019, 01:12:20 PM »
Came to also post the 'buy used' option. Tv's are worth almost nothing on the secondary market. People just want to get rid of them. I paid $100 for a really nice Plasma tv a couple of years ago that, once calibrated, has significantly better picture quality than most brand new models until you get crazy expensive.

AlotToLearn

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Re: How much to spend on a new TV?
« Reply #14 on: May 14, 2019, 04:42:12 PM »
Zero is my first answer.
Buy used is my second (technology in TVs is so cheap, you can get a preowned one for a steal)

Cranky

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Re: How much to spend on a new TV?
« Reply #15 on: May 14, 2019, 05:00:00 PM »
I dunno. Is that really a good price in the UK?

We just replaced the ancient tv in the basement where our exercise equipment is, and boy! You can get a lot of tv cheap these days. We got a 55” Samsung smart tv for about $350.

robartsd

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Re: How much to spend on a new TV?
« Reply #16 on: May 14, 2019, 05:53:58 PM »
If the TV is too small for gaming, try moving the seating closer. TV at my mom's house in a similarly sized room is smaller than yours and gets used for Wii frequently by grandchildren (usually Mario Kart with 4 players on screen).

ketchup

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Re: How much to spend on a new TV?
« Reply #17 on: May 14, 2019, 07:20:30 PM »
Hah, 42" is "super small" these days.  Makes me feel old and I'm 28.

We actually happen to have a 43" which is clearly way bigger.  $229 for it just over two years ago, 1080p Sharp with built-in Roku.  Even a giant 55" 4K you can find for like $400 these days.

TVs have gotten stupid big, high-resolution, and cheap compared to 15-20 years ago.  I remember my parents spending something insane like $750 on a 27" 480i CRT in like 2002.

GuitarBrian

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Re: How much to spend on a new TV?
« Reply #18 on: May 14, 2019, 07:49:26 PM »
TCL 55 for $329 at Walmart and $318 at Costco.
TCL 65 for $478 at Walmart.

I have the 55 and it is excellent. Works great!!

I looked for a used TV for a long time, in Phoenix I never found anything that made sense.. everyone wanted too much vs a new one.

ck425

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Re: How much to spend on a new TV?
« Reply #19 on: May 15, 2019, 01:47:15 AM »
" I also host every month or so and it would help with that."

 By "hosting" do you mean you have friends over for conversation and food / drinks ?
  Are you hosting PS4 parties ?

  if its food + conversation, you don't need a large TV - the people are coming over to spend time with YOU the person, not you the TV owner. I imagine they have their own large TV's.
   If it is 4 friends sitting around all playing PS4 , you still don't need a monster TV , you need snacks and drinks.

 Can you run around the block without getting winded and out of breath ? - if not - time to put down the playstation controller and play some real games, with real people, that takes real effort, sweat, and technique...
  I'm sure your hand-to-controller dexterity is awesome, but it just does not compare with physical activity in the Real world.
  IF you already Regularly perform some sort of physical activity / sports league, than i have no problem with video games for '"relaxation".

Mostly for movie nights etc. I currently run everyday, swim reasonably regularly and am trying to start daily pullups (still working on the basic strength).

ketchup

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Re: How much to spend on a new TV?
« Reply #20 on: May 15, 2019, 11:34:38 AM »
I looked for a used TV for a long time, in Phoenix I never found anything that made sense.. everyone wanted too much vs a new one.
I noticed this too!  Shipping kills any would-be deals on eBay and the like, and craigslist is full of jokers that think their older crappy-by-today's-standards TV they paid $1000 for ten years ago is still worth $200 when it's really worth more like $50 and a comparable new one is $250-300 and way better.

nereo

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Re: How much to spend on a new TV?
« Reply #21 on: May 15, 2019, 11:45:14 AM »
I looked for a used TV for a long time, in Phoenix I never found anything that made sense.. everyone wanted too much vs a new one.
I noticed this too!  Shipping kills any would-be deals on eBay and the like, and craigslist is full of jokers that think their older crappy-by-today's-standards TV they paid $1000 for ten years ago is still worth $200 when it's really worth more like $50 and a comparable new one is $250-300 and way better.
...price anchoring at work.

ketchup

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Re: How much to spend on a new TV?
« Reply #22 on: May 15, 2019, 01:13:53 PM »
I looked for a used TV for a long time, in Phoenix I never found anything that made sense.. everyone wanted too much vs a new one.
I noticed this too!  Shipping kills any would-be deals on eBay and the like, and craigslist is full of jokers that think their older crappy-by-today's-standards TV they paid $1000 for ten years ago is still worth $200 when it's really worth more like $50 and a comparable new one is $250-300 and way better.
...price anchoring at work.
I remember more than once going to a garage sale and finding someone with a 20 year old computer they wanted a few hundred dollars for, a "good deal" since it cost them thousands new.

Not how that works.

FIREstache

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Re: How much to spend on a new TV?
« Reply #23 on: May 15, 2019, 05:36:07 PM »
I looked for a used TV for a long time, in Phoenix I never found anything that made sense.. everyone wanted too much vs a new one.
I noticed this too!  Shipping kills any would-be deals on eBay and the like, and craigslist is full of jokers that think their older crappy-by-today's-standards TV they paid $1000 for ten years ago is still worth $200 when it's really worth more like $50 and a comparable new one is $250-300 and way better.

I have one of those 10 year old Sony 46" 120 hz 1080p LCD HDTVs, was about $1300 new before tax and applying Bing cashback.  With quality 1080p source material viewed straight on, it still looks amazing, and the sound quality is actually better than any of the built-in sound on newer thinner TV's, so using external speakers or soundbar is required on the newer models (most if not all) for tolerable sound quality, albeit I still run through my HiFi system for movies for the 7.1 audio.  Of course, I can't view 4K resolution on it, but I don't really care about that, yet.  Mine is not for sale, though.  It's been heavily used and has no issues, so I'm waiting for it to break down before I buy a replacement.