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General Discussion => Welcome and General Discussion => Topic started by: trailrated on June 28, 2014, 11:01:44 AM

Title: What was your largest single purchase of the last 12 months?
Post by: trailrated on June 28, 2014, 11:01:44 AM: What was your largest purchase of the last 12 months and was it "worth it"?

Mine would be $2,500 deductible for medical bills for my son being born...needless to say it was totally worth it haha.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: warfreak2 on June 28, 2014, 11:15:14 AM: About £700 for a return flight to Sendai, Japan, to play in an international Go tournament. The rest of my expenses there were generously covered by the Japanese Go association and their sponsors, so that was the entire cost of the trip.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: taekvideo on June 28, 2014, 11:19:45 AM: Bought a house for 60k in February... totally worth it :)
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Emilyngh on June 28, 2014, 11:33:06 AM: I cruise with my parents and siblings at the end of July. It is costing us $2000 (total for our family of 4 people is almost $4k, but my parents paid the rest).

Don't know if it's worth it, I'll tell you after going on it.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: arebelspy on June 28, 2014, 11:34:16 AM: Hmm, largest purchase of the last twelve months. It depends on what counts as a "purchase" (as opposed to "expense" or "investment" or...)

1-5 - would be multiple pieces of real estate. (Investments?)
6 - Giant tax bill (Expense?)
7 - Insurance bills (Expense?)

If none of those count as a "purchase," I guess plane tickets for a few hundred bucks, or Camp Mustache tickets, or an iPad for like $200?

(I tried looking back the last five years or so, but there was nothing that topped those above items; apparently taxes are my biggest expense every year - the April line on my spending graph looks bad - and I don't spend more than a few hundred on anything, ever.)

EDIT: Actually we did buy motorcycles and had them for a few years. But then we sold them for more than we paid, so it ended up being a net profit, even with the registration, insurance, etc.. so again, I don't know if that counts.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Erica/NWEdible on June 28, 2014, 11:38:16 AM: Solar panels. $28k. Worth it.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: DocCyane on June 28, 2014, 12:34:49 PM: I bought a new iPad and case for about $900. I'm on this thing nearly every waking moment, so it was worth it to me.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: RFAAOATB on June 28, 2014, 12:49:02 PM: Dual iPhone contract family plan from AT&T. Not worth it. Tempted to break contract and go to a cheaper provider.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: geekette on June 28, 2014, 12:57:26 PM: New windows - 29 of them. The house is more comfortable, but that was a huge expense.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Rezdent on June 28, 2014, 01:09:08 PM: 2012 Honda Fit $14K.
I'd hoped to put off buying a car for at least a couple more years but mine was totalled (aargh. it only had 232K and ran great).
Paid cash. Had this happened 5 years ago I would have bought a brand new SUV with financing.
Thanks MMM and Mustachians!
Title: Re: What was your largest single purchase of the last 12 months?
Post by: WonderingAgain on June 28, 2014, 01:17:03 PM: A 10 yr old Subaru to replace my disintegrating 17 yr old car.

I figure if I get another 5 years out of this one it'll be good. Seven more years would be really good.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: SMP on June 28, 2014, 01:25:25 PM: A used car for my wife. It is a Volkswagen Golf Mk6 with 1.6l Diesel engine: 50 - 52 MPG
Title: Re: What was your largest single purchase of the last 12 months?
Post by: sol on June 28, 2014, 01:31:27 PM: $68k out of pocket for a new house and $32k for solar panels to put on the roof of that house. Do I "win"?
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Michread on June 28, 2014, 01:42:20 PM: Quote from: Erica/NWEdible on June 28, 2014, 11:38:16 AM
Solar panels. $28k. Worth it.

Yup, us too!
Title: Re: What was your largest single purchase of the last 12 months?
Post by: MrsPete on June 28, 2014, 01:54:15 PM: Car for our college daughter so she can begin student nursing in the fall.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Cwadda on June 28, 2014, 02:09:41 PM: My used '07 Mazda3.

$6650, $7100 after tax, and $7900 after all repairs.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: trailrated on June 28, 2014, 02:23:55 PM: Quote from: sol on June 28, 2014, 01:31:27 PM
$68k out of pocket for a new house and $32k for solar panels to put on the roof of that house. Do I "win"?

Yessir, my hat is off to you. Congrats on the new home!
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Cassie on June 28, 2014, 02:33:57 PM: $16,000 for a 2010 Honda Accord. I was planning on driving my 14yo Volvo a few more years but then it needed a $4,000 repair about 6 months after I spent $2,000 so decided it was time for it to go.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: rocketpj on June 28, 2014, 02:40:45 PM: Not much this year, but we did spend about $2500 on a vacation in Hawaii. I wouldn't have, but it was an extended family thing and our flights and hotel were paid by family - so it was just the meals, recreation, passports, car rental etc. We probably could have done it cheaper, but again, it was a rare extended family thing. The kids loved it.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: mustachianteacher on June 28, 2014, 02:45:39 PM: We replaced our sewer line for $6,500. *sigh* I try to be happy every time we flush the toilet or drain the tub and the water drains as expected, but it really feels like one of those things where a huge chunk of money is gone and we have nothing to show for it.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: lb on June 28, 2014, 03:06:28 PM: $2780 on birth center fees. Don't know if it was worth it yet, the big event is in late August! Would have been cheaper to go to the hospital I work for but I just couldn't handle the idea of giving birth at my workplace.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: ketchup on June 28, 2014, 03:20:18 PM: Unnecessary luxury vehicle (by my standards anyway: 1996 Volvo 850 wagon) for $2000. Bought last July, sold two months ago for $1750. Nice car, but thirsty with expensive maintenance parts.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: lifejoy on June 28, 2014, 03:23:27 PM: Flight to visit family tied for first with a wedding band. Win then fail. I'm still learning from my mistakes (and trying to sell the ring, I have a cheaper one instead).

Sent from my iPad using Tapatalk
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Rural on June 28, 2014, 04:48:15 PM: A little over $1,500 of lumber, but we didn't buy it all at once, so if that doesn't count...

$700 on a plane ticket for a business trip to Boston, but that will be fully reimbursed, so if that doesn't count...

$502 to the vet on Wednesday for a year's shots and flea treatment for five and heartworm tests and four month's treatments for the two biggest of those five.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: sol on June 28, 2014, 05:18:54 PM: Quote from: blahblah on June 28, 2014, 04:58:58 PM
Quote from: sol on June 28, 2014, 01:31:27 PM
$68k out of pocket for a new house and $32k for solar panels to put on the roof of that house. Do I "win"?

I'd be interested to hear about the payback period for an investment that large.

I'll start a thread with pictures and math sometime soon.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Erica/NWEdible on June 28, 2014, 05:56:26 PM: Quote from: blahblah on June 28, 2014, 04:58:58 PM
Quote from: sol on June 28, 2014, 01:31:27 PM
$68k out of pocket for a new house and $32k for solar panels to put on the roof of that house. Do I "win"?

I'd be interested to hear about the payback period for an investment that large.

Since Sol and I are both in the same general area, I'm guessing we have similar numbers on payback and incentives, etc. You can see details of our system here if you are interested: http://www.nwedible.com/2014/05/solar-in-seattle.html
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Nudelkopf on June 28, 2014, 07:10:49 PM: $1200 for a bike, to replace my one which got stolen at Easter.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: slugline on June 28, 2014, 07:57:44 PM: $41K to become a homeowner with a mortgage balance. It doesn't feel completely "worth it" yet, to be honest, but it should a decade from now, I'm guessing.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: MoneyCat on June 28, 2014, 08:00:13 PM: I bought a new house and property for $320,000. That is very, very inexpensive for the state I live in. My friends were shocked that we were able to get a house that cheaply.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: 121 Seconds on June 28, 2014, 08:31:48 PM: Aside from bills, the money spent on the materials for this deck project that I have been working on.

(http://www.thedirteffect.com/uploads/7/9/1/1/7911196/1133661_orig.jpg)

http://www.thedirteffect.com/the-latest/category/deck
Title: Re: What was your largest single purchase of the last 12 months?
Post by: nikki on June 28, 2014, 08:50:55 PM: This month I paid $1,424.83 for roundtrip tickets to get hitched to dude in California in August and return to Korea. "Worth it"--yes. We could have just had him come to Korea and gotten married here, but this way his family can be involved.

Second place goes to tickets I bought last November to go to Texas this past January: $1032.70. That trip wasn't worth it considering the main goal was to have a nice visit with my family. Fail there. However, I got to spend time with dude while there, which was lovely.

Definitely getting tired of America this year. Twice in one year after not going at all in two years feels totally excessive. At least this second trip is for a good cause... ;-) And we won't have to go back for at least another two years! Yay!

EDIT: Posted early oops! Finished now.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: pka222 on June 28, 2014, 09:23:06 PM: 6K For a 2003 Toyota Ist. But then we sold the Gas guzzling 4X4 for 5500. I figure in 5 months the gas savings alone will make the purchase a wash and then its 100+ per months in reduced costs..
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Zombie Burger on June 28, 2014, 10:06:39 PM: About 6k spent last summer on maintenance free decking. I'm still trying to install all of it. Ask me in ten years if it was worth the premium over wood.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: iris lily on June 28, 2014, 10:26:50 PM: 2 surgeries within 6 weeks for my dog. But that rivals a short vacation we took last summer and I don't remember the cost of that vacation, but likely the dog surgeries trumped it.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Bateaux on June 28, 2014, 10:30:59 PM: Certainly insurance. With home owners, car and health insurance I'm paying over $10,000 a year for insurance alone.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Strawberrykiwi75 on June 28, 2014, 11:01:44 PM: House- 265k. Worth it. If I sold now (and I've barely spent a thing- YET) I'd make 40k fairly easily.
Car- 9500. Worth it. Bought a Swift which is mustachian and awesome. Saving about $50 a week in petrol and registration and servicing fees. Win!
Furniture- about 4000. My back thanks me everyday. And I can have people over so that saves money on going out! It just isn't that fun sitting on the floor all the time
Title: Re: What was your largest single purchase of the last 12 months?
Post by: geekette on June 28, 2014, 11:18:09 PM: Quote from: Zombie Burger on June 28, 2014, 10:06:39 PM
About 6k spent last summer on maintenance free decking. I'm still trying to install all of it. Ask me in ten years if it was worth the premium over wood.

We have Timber Tech that was installed 2 years ago. Don't believe the "maintenance free" part, but it is a lot easier and quicker to maintain. No power washing, no bleaching (and no staining needed). We've used Corte Clean (http://www.corteclean.com) (their website is poor, but the product is good). Mix it up, spray it on in sections, keep it wet for at least 5 minutes, rinse off after 20 minutes.

I mention this cleaner because we've had very good results with it (the only thing we've used to clean ours). A friend hates his Trex decking because even with a power washer and bleach he can't get the black spots out. I'm going to take some of our leftover Corte Clean next time we visit to see if it'll fix the problem.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: secondcor521 on June 28, 2014, 11:22:24 PM: Assuming you don't count "taxes" as a purchase...$1,437.35 to the orthodontist for phase two of my daughter's braces. Totally worth it -- her mouth was a train wreck worth of teeth and with the braces she's going to have a fantastic smile.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: mpg350 on June 29, 2014, 12:13:07 AM: $5,500 for a used 08 Kawasaki jet ski. Totally worth it living in florida, was a great deal.

I bought the ski from the type of person that buys a jet ski and it sits in the garage all the time ha
Title: Re: What was your largest single purchase of the last 12 months?
Post by: libertarian4321 on June 29, 2014, 12:17:36 AM: 1. Taxes (Federal)
2. Taxes (Property)
3. Taxes (FICA/Medicare)
4. Taxes (Sales/Gas/etc)
5. Taxes (Local- city, county)
6. Insurance

But my largest discretionary expenditure was probably a $1,200 computer.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: soccerluvof4 on June 29, 2014, 06:59:47 AM: Re-Modeled 2 of the bathrooms in our house and this was under contract before MMM BUT once i got on here I was able to shave some money off with the contractor. Spent about 45k but it was complete gut Job of the Master and 80% gut of the 4 kids large bathroom. Also alot of the money came from the 5 snowmobiles, 1 4 wheeler and 3 boats I sold as I started immediately selling stuff we dont use. I still have the damn Vacation home for sale which will be a big bump in out retirement so being patient.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Nancy on June 29, 2014, 07:21:04 AM: $25k to pay off my degree. (does crazy dance of joy)
Otherwise, $188 bought a used phone for ting plan.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: teen persuasion on June 29, 2014, 09:17:28 AM: New metal roof on two wings of the house and porch, and all new gutters. Definitely worth it to prevent water getting inside the house at the front door and a few windows. Also hoping that the lifespan of the metal roof is longer than asphalt roof.

Tie for second place - the replacement car I got Friday, and our annual oil prebuy for heating.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: RetiredAt63 on June 29, 2014, 09:24:33 AM: First, unexpected taxes (long story).
Second, lawyer fees.
Once I get this mess settled, my expenses will be low.

Oops, forgot, will be getting the roof re-shingled sometime over the summer. There are new shingles out, 180km/h wind guarantee (we are windy here), 20 year full guarantee, another 20 years pro-rated. Good investment. But another $5000 or so out of the budget.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Kaktus on June 29, 2014, 09:37:43 AM: 800 euros for handmade suit (trousers, skirt, shirt and jacket, wool crepe fabric). I don't like shopping clothes and wanted to get something I can wear every day to work and look good. I'm very satisfied with my purchase. And no, one doesn't have to wear different clothes each day to office. I got through one winter with black trousers, grey cardigan and two t-shirts.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: daverobev on June 29, 2014, 10:20:59 AM: Certainly a rental property. About $40k with the new roof.

After that, hmm.

Flight to the UK $1k but that's business. $750 home insurance?
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Blindsquirrel on June 29, 2014, 10:21:37 AM: Agree with the Libertarian.
1. Taxes (Federal)- I think I probably bought part of a missile to kill some brown guys on the other side of the world that I have never met (GD I hope no kids got it by accident) but other folks decided that they should die and I should pay for it. Maybe I paid for something more worthwhile like a Pell grant to a deserving student but I really doubt it.
2. Taxes (Property)- Great piles of loot for a school system that graduates about 66% of HS seniors and received an F from the state board of education.
3. Taxes (FICA/Medicare)- At least this went to someone in need I hope.
Feeling Snarky.- just paid property taxes for second half.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: warfreak2 on June 29, 2014, 11:06:51 AM: To those who don't like paying so much tax: here's more from my list (counting individual transactions).
#1: £700 plane ticket.
#2: One year of Council Tax.
#3: One year of Income Tax.
#4: Monthly rent payment.
You, too, can have tax bills as low as mine, simply by working less and earning less money. If that sounds like a good option, then I'm pleased to have presented it to you. If it sounds like an inferior option, then perhaps you would like to pay more for the superior option. Like flying to Japan instead of to Birmingham. Nobody gets upset about what exactly Lufthansa do with the £700 for a ticket to Japan, they just accept it costs more to fly further. On top of that, Lufthansa don't even let me vote on their prices.

(Also, tax and rent aren't really "purchases" in the spirit of the thread.)
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Rural on June 29, 2014, 11:08:03 AM: Quote from: Blindsquirrel on June 29, 2014, 10:21:37 AM
Agree with the Libertarian.
1. Taxes (Federal)- I think I probably bought part of a missile to kill some brown guys on the other side of the world that I have never met (GD I hope no kids got it by accident) but other folks decided that they should die and I should pay for it. Maybe I paid for something more worthwhile like a Pell grant to a deserving student but I really doubt it.
2. Taxes (Property)- Great piles of loot for a school system that graduates about 66% of HS seniors and received an F from the state board of education.
3. Taxes (FICA/Medicare)- At least this went to someone in need I hope.
Feeling Snarky.- just paid property taxes for second half.

Put tht way, my order changes, too. I just don't know if I consider the taxes a purchase. One gets something for a purchase, and while there could be an argument made that taxes go to something other than waste, there are plenty of good arguments the other direction, too.

My personal single largest expense is FICA, so maybe I'll get something out of that eventually. Then sales tax, then federal, then property tax, then last week's vet visit. Federal comes so late because all of my salary for the academic year goes into tax deferred retirement accounts, leaving only summer pay to be taxed by the Feds (now, anyway). If you look at household, though, then the federal taxes my husband pays push that up to #1.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Mississippi Mudstache on June 29, 2014, 01:41:06 PM: I've spent $15,000 on medical bills for my son in the last year. But that's not really a single expense. Besides that, the biggest expense was $1500 for 450 square feet of oak flooring for our living and dining room. Totally worth it. I love our new floors.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: m0nk3y on June 29, 2014, 04:47:10 PM: 1-20% down payment on a 230k STEAL for my growing family- loan is at 180k 3 months later.
2- huge IRS payment
3-3rd child birth costs
Title: Re: What was your largest single purchase of the last 12 months?
Post by: lizzzi on June 29, 2014, 05:13:25 PM: Used stash to buy house outright--early inheritance--for dtr., s-i-l, and 3 grands. $137,000. Used some more of stash to buy house outright for self and husband--$105,000. Not that I do this stuff every day, but the good thing about Mustachianism and FIRE is that you can if you want to.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: iwasjustwondering on June 29, 2014, 08:06:37 PM: It was tuition for a gifted, academic summer camp for my older son, at $3800. Second was a writing camp for my younger son, at $900.

I had a few days of vacation in England last winter, but I didn't really pay anything for it, as I parlayed a business trip to Europe into an extra couple of days in the UK. My bf and I stayed with his relatives while in England.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: darkadams00 on June 29, 2014, 08:24:04 PM: Local CL Trek 7.5FX in excellent condition for the wife for moderate distances around town (10-30 miles RT) -- $400.00. She rides her Public 7-speed town bike for distances < 10 miles and hasn't ridden more than 31 miles RT since she started riding again two years ago. Now we're eyeballing a used tandem--it might be the only way she rides longer in the next 2-3 years. A used 10-year old tandem won't depreciate further in 2-3 years in our area if properly maintained, so we could probably break even on the deal if she transitioned to a road/touring bike later.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: rpr on June 29, 2014, 08:36:47 PM: Car repair -- $936. brakes etc on my old 1998 camry.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: horsepoor on June 29, 2014, 08:46:40 PM: Roof on our old house, if the insurance payment isn't counted.

Other than that, a rather expensive, albeit used saddle.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: MidwestGal on June 29, 2014, 08:50:15 PM: A shiny red almost-new road bike for >$1k, five months later it's something I still lust after daily, gets my ass out on the road and keeps me from unnecessary gym memberships. Totally worth any face punch.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: teen persuasion on June 29, 2014, 09:24:48 PM: Quote from: iwasjustwondering on June 29, 2014, 08:06:37 PM
It was tuition...

This post brought to mind a time a few years ago. I was walking DS2 thru his taxes, and I had him tallying up all his college expenses vs scholarships, grants, loans, to see if/how much he'd need to claim as taxable income. He'd "paid" over $50k in college expenses that year! My reaction was "Holy cow!", while he didn't even blink.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Thegoblinchief on June 30, 2014, 06:47:19 AM: New roof and soffits. Overpaid by quite a bit but it's a sunk cost. That said, figuring out how to pay off the same as cash loan on time is what got me hooked on MMM, so over my lifetime I'll be way ahead.

Other than that, my new to me bike for $250. The capital cost of the bike and gear is higher, but every other purchase has been spread out over the past months.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: hybrid on June 30, 2014, 07:07:52 AM: Our heat pump finally died and we kissed 7K goodbye. I'm very happy we were able to write a check and not take out a loan. A cautionary tale in there somewhere....
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Philociraptor on June 30, 2014, 08:26:07 AM: #1 was getting married (church, reception, etc.) for $6,700.
#2 was honeymoon (flights, resort, excursions, souvenirs) for $4,300.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: frugalnacho on June 30, 2014, 08:33:30 AM: Quote from: Erica/NWEdible on June 28, 2014, 11:38:16 AM
Solar panels. $28k. Worth it.

Wtf? How high are your electric bills? I could pay my electric bill for the rest of my life with $28k.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: forward on June 30, 2014, 08:47:47 AM: I spent about $1500 on a vacation, worth it in this case, first one in over 5 years. Also spent about $500 getting the dog repaired, this one was worth it as well, she hasn't needed any repairs for 10 years.

This is a good thread, it actually makes you think about your large purchases of the past.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: simonsez on June 30, 2014, 08:50:15 AM: Quote from: frugalnacho on June 30, 2014, 08:33:30 AM
Quote from: Erica/NWEdible on June 28, 2014, 11:38:16 AM
Solar panels. $28k. Worth it.

Wtf? How high are your electric bills? I could pay my electric bill for the rest of my life with $28k.
I'm sure there are very high non-pecuniary benefits with something like that for many people in addition to just dollars and cents. To each their own. Then again, I'm admittedly a sucker for renewable energies.

Largest single purchase/payment in last 12 months: $1800 on student loans
Title: Re: What was your largest single purchase of the last 12 months?
Post by: frugalnacho on June 30, 2014, 08:55:24 AM: Quote from: simonsez on June 30, 2014, 08:50:15 AM
Quote from: frugalnacho on June 30, 2014, 08:33:30 AM
Quote from: Erica/NWEdible on June 28, 2014, 11:38:16 AM
Solar panels. $28k. Worth it.

Wtf? How high are your electric bills? I could pay my electric bill for the rest of my life with $28k.
I'm sure there are very high non-pecuniary benefits with something like that for many people in addition to just dollars and cents. To each their own. Then again, I'm admittedly a sucker for renewable energies.

Largest single purchase/payment in last 12 months: $1800 on student loans

Yea but it still needs to make sense. Would spend $1,000 on a water barrel that is going to save you $100 worth of water? Also, in what sense would that even be green with such a low ROI?

Maybe they use a ton of electricity, or maybe they are selling it back to the grid at a profit. It seems alarmingly high to me though.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: sol on June 30, 2014, 08:57:15 AM: Quote from: frugalnacho on June 30, 2014, 08:33:30 AM
Wtf? How high are your electric bills? I could pay my electric bill for the rest of my life with $28k.

We just spent $32,400 on solar panels (http://forum.mrmoneymustache.com/welcome-to-the-forum/solar-panel-installation/). If it was only a matter of offsetting our power bills, then yes that would be like 50 years of bills at today's prices.

But the federal tax credit and the state production incentives mean that we'll actually make money over the next few years on that up-front investment, and then get free power after that.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: MrFancypants on June 30, 2014, 09:05:41 AM: A house.

Yes, it was worth it. The wife and I enjoy being shielded from the elements.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: simonsez on June 30, 2014, 09:12:49 AM: Quote from: frugalnacho on June 30, 2014, 08:55:24 AM
Quote from: simonsez on June 30, 2014, 08:50:15 AM
Quote from: frugalnacho on June 30, 2014, 08:33:30 AM
Quote from: Erica/NWEdible on June 28, 2014, 11:38:16 AM
Solar panels. $28k. Worth it.

Wtf? How high are your electric bills? I could pay my electric bill for the rest of my life with $28k.
I'm sure there are very high non-pecuniary benefits with something like that for many people in addition to just dollars and cents. To each their own. Then again, I'm admittedly a sucker for renewable energies.

Largest single purchase/payment in last 12 months: $1800 on student loans

Yea but it still needs to make sense. Would spend $1,000 on a water barrel that is going to save you $100 worth of water? Also, in what sense would that even be green with such a low ROI?

Maybe they use a ton of electricity, or maybe they are selling it back to the grid at a profit. It seems alarmingly high to me though.
Again, there are non-pecuniary benefits, which are always the hardest to quantify/qualify. Some people receive satisfaction tinkering around with and learning about green technologies or simply even knowing that on a larger scale it is making the most out of what we have. If I was FIRE and curious about a water barrel, I might buy it even if it is a perceived loss with regard to only dollars. Do you have any hobbies where you spend more money on them than what the end product produces (or purchased ANYTHING where the $output<$input)?

Perhaps I am overly optimistic about future technology, but I'm of the opinion if enough people demand alternatives, a) the end product (e.g. electric cars, wind generators, solar panels, etc.) will get more efficient over time and b) the average price will come down eventually at least on a per unit basis.

That said, Erica's blog post she references has the payback period at 5.5 years and lists the various credits which make it financially viable as well. Win-win!
Title: Re: What was your largest single purchase of the last 12 months?
Post by: frugalnacho on June 30, 2014, 09:24:35 AM: Quote from: simonsez on June 30, 2014, 09:12:49 AM
Quote from: frugalnacho on June 30, 2014, 08:55:24 AM
Quote from: simonsez on June 30, 2014, 08:50:15 AM
Quote from: frugalnacho on June 30, 2014, 08:33:30 AM
Quote from: Erica/NWEdible on June 28, 2014, 11:38:16 AM
Solar panels. $28k. Worth it.

Wtf? How high are your electric bills? I could pay my electric bill for the rest of my life with $28k.
I'm sure there are very high non-pecuniary benefits with something like that for many people in addition to just dollars and cents. To each their own. Then again, I'm admittedly a sucker for renewable energies.

Largest single purchase/payment in last 12 months: $1800 on student loans

Yea but it still needs to make sense. Would spend $1,000 on a water barrel that is going to save you $100 worth of water? Also, in what sense would that even be green with such a low ROI?

Maybe they use a ton of electricity, or maybe they are selling it back to the grid at a profit. It seems alarmingly high to me though.
Again, there are non-pecuniary benefits, which are always the hardest to quantify/qualify. Some people receive satisfaction tinkering around with and learning about green technologies or simply even knowing that on a larger scale it is making the most out of what we have. If I was FIRE and curious about a water barrel, I might buy it even if it is a perceived loss with regard to only dollars. Do you have any hobbies where you spend more money on them than what the end product produces (or purchased ANYTHING where the $output<$input)?

Perhaps I am overly optimistic about future technology, but I'm of the opinion if enough people demand alternatives, a) the end product (e.g. electric cars, wind generators, solar panels, etc.) will get more efficient over time and b) the average price will come down eventually at least on a per unit basis.

That said, Erica's blog post she references has the payback period at 5.5 years and lists the various credits which make it financially viable as well. Win-win!

Of course I spend money, but I also do the math. For example the water barrel - it's a cool idea, and it might even save the earth! Until I run the numbers and find the payback period is gonna be over 10 years. It's gonna be friendlier to the earth to just purchase the water I need rather than create a set up for my water barrel. I had the same initial reaction to spending $28,000 on solar panels. I won't even use $28,000 worth of electricity in my life time so that cost seems very high to me.

I checked out sol's post on it and he did the math on it too (as i'm sure erica did too). They may get some non-monetary benefits out of it too, but he did the math too and it's gonna be a money saver for him in the long run. The answer seems to be government subsidies. The gov will refund a large portion (I think 30% in sol's case) of the initial cost, and then buy his electricity back above (at 7X in sol's case) the going market rate for electricity.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: C. K. on June 30, 2014, 09:30:42 AM: Quote from: trailrated on June 28, 2014, 11:01:44 AM
What was your largest purchase of the last 12 months and was it "worth it"?

Mine would be $2,500 deductible for medical bills for my son being born...needless to say it was totally worth it haha.

Congratulations.

I spent about the same on an on-going career development workshop. I should see a return on the investment within a few months.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: lisahi on June 30, 2014, 09:39:53 AM: My largest purchase was the $700 in emergency room bills I paid as part of my deductible when I was sick the entire month of December. Not fun.

Second was my Trek bike -- $400.

After that it was a $227 vet bill to get my two dogs up-to-date on all vaccines and get them their yearly tests for all the bad stuff.

Coming in fourth was $100 I spent on a chair. Not mustachian, I know, but I had been searching for just the right chair for two years and finally found it at Home Goods. It looks awesome. It's for my computer desk.

Note that I'm not counting any bills. If I were then it would be my mortgage first, my student loan payment second. Blah.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: farmstache on June 30, 2014, 11:02:02 AM: For me it was:

7.5k for a rural property (which after we solve all the paperwork in 2-4 years and build a small house on, will be worth about 100k - totally worth it both financially and fun-wise).

About 4k with our recent move: fixing and extra rent time to finish fixing the house we just moved out of, and a few things on the house we moved into (maybe $500 of this total), a month of storage while we lived at my mom and got the new house ready ($250), two moving trucks (from house to storage, from storage to new house - total $400 - all because of the fridge and washer-dryer that weight a ton!). Totally not worth it. We could have avoided about $800 of extra rent time out of that by starting even earlier with the fixes, but we really didn't know all that the landlady would ask us to fix. Lesson learned. The good side of these fixes is we did almost all of it ourselves and learned a lot. Did basically everything but the external painting.

About 3.5k in a 2 week long summer trip (tickets for two were 1.2k) - Worth it, but I'm now smarter and next time we'll change the trip style and be much more mustachian. Deserve facepunch for this.

The next highest expense was the pet: since january we got 10 months worth of dog food ($400) plus vaccines I apply myself ($50) and $200 worth of vet bills. Actually, the pet is a huge inflation in our lifestyle - we could have rented a condo for $350 in an extremely central location if it wasn't for the huge dog (and DH's refusal to let it live inside the condo - dog does shed way too much), but had to rent a $600 house a little out of the way instead (nearly the cheapest one we could find that didn't require renovations). We're happy, the house is beautiful and we have a tangerine tree, but financially it might not have been the best moment for this, especially considering I'm jobless right now.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: rpr on June 30, 2014, 11:14:26 AM: Quote from: frugalnacho on June 30, 2014, 09:24:35 AM

Of course I spend money, but I also do the math. For example the water barrel - it's a cool idea, and it might even save the earth! Until I run the numbers and find the payback period is gonna be over 10 years. It's gonna be friendlier to the earth to just purchase the water I need rather than create a set up for my water barrel. I had the same initial reaction to spending $28,000 on solar panels. I won't even use $28,000 worth of electricity in my life time so that cost seems very high to me.

I checked out sol's post on it and he did the math on it too (as i'm sure erica did too). They may get some non-monetary benefits out of it too, but he did the math too and it's gonna be a money saver for him in the long run. The answer seems to be government subsidies. The gov will refund a large portion (I think 30% in sol's case) of the initial cost, and then buy his electricity back above (at 7X in sol's case) the going market rate for electricity.
We installed solar panels as well 3 years ago. The up front cost was about $30k. The federal and state tax rebates brought down that cost to about $10k. We live in Hawaii where electricity costs upwards of $0.40/kWh. Our system produces about 5 MWh/year or roughly $2k at today's electricity prices. Thus the payback time is approximately 5 years. Greens all around :)
Title: Re: What was your largest single purchase of the last 12 months?
Post by: ivyhedge on June 30, 2014, 11:15:22 AM: * Condo in Boston that mightily cut our commutes;

* Flights/expenses to China to see my in laws (every two years);

* Added significantly to taxable investments.

All worthwhile.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Thegoblinchief on June 30, 2014, 01:49:56 PM: Once I get some free capital, I'm totally looking at PV for my house, but it'll probably be for the NEXT house, wherever that ends up being. We won't be in our current house for much longer than 10 years more, and we won't have the money to justify PV outlays for another few years yet.

I wonder what the subsidy picture will look like in 5 years.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Norioch on June 30, 2014, 01:55:17 PM: Last August I paid $109,600 for a one-bedroom condo. So far I'm happy with the purchase.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: Frugal Father on July 01, 2014, 10:01:10 AM: We "purchased" freedom from debt. We managed to pay down in about half a year every last dollar of student debt we had accumulated. Definitely worth it.
Title: Re: What was your largest single purchase of the last 12 months?
Post by: RNwastash on July 01, 2014, 10:51:05 AM: Bought a 2006 Scion xA for my kid going to college. All in all I paid $5800 for it including maintenance/ registration. I actually drive it more than my Honda Accord because it gets more miles per gallon. I think it's worth it.