How Much Should You Spend on a Watch? [Important Things to Know]
There are watches on the market ranging from ten dollars all the way up to one million dollars – with such a wide range in price, it can be hard to know how much to spend on a watch.
Sure, you get what you pay for, but at a certain point, the price of a watch can become a bit absurd.
When it comes to how much you’re spending on a watch, it’s not about the price of the watch. Rather, just like buying a car, it’s about your personal taste, the kind of watch you want to buy, and how much you can afford.
How Much is Too Much for a Watch?
Still, it’s important to be careful when spending on a watch.
If you’re worried about the dent it’s going to make in your bank account, it’s too much to spend on a watch.
Here’s the bottom line:
It is never a wise idea to go into debt just to buy a watch.
Watch to Salary Ratio
You may think you should spend more money on a watch if you have more money to spend – however, that’s really not the case.
We have seen one of the richest and most powerful people in the world like Bill Gates wear a Casio MDV-106-1A on The Late Show with Stephen Colbert.
Chuck Feeney, the founder of Duty-Free shopping, has been seen wearing a $30 Casio F-91W:
As you can see, you shouldn’t make a decision about the watch you want to wear based on its price.
Here are the right questions to be asking yourself:
1. Do I like the watch?
First and foremost, you have to like the watch. It is very common to see people getting influenced by hype and buying an expensive watch, just to realize after a month or two that it’s not really something they would want to wear after all.
2. Can I afford this watch?
Let’s be honest here, if you have come this far reading this article, I’m sure you have a watch in mind that you really like but is just a tad bit expensive to own it.
If you have to save up a lot of money (and wait a long time) just to afford the watch, it’s probably too expensive for you.
Likewise, if you searched for an answer to the question “how much should you spend on a watch”, it’s probably because you want to spend more than you can afford. Sound accurate?
3. Is it worth it to you?
Everyone assigns value in their own way. The worth of a regular watch handed down from generation to generation would be priceless to the recipient – they’d cherish that watch more than a Rolex.
Before you spend on a watch, consider what features you’re looking for.
- Do you want the watch to be waterproof?
- Does it need a backlight?
- What material should it be crafted from, if that even matters to you?
Once you know what you’re looking for, find the watch that matches your taste. It doesn’t need to be the most expensive one, as long as it matches your taste, has good reviews, and is sure to last a long time.
You don’t want to buy an expensive watch, only for it to stop working shortly after.
How Much Should You Make to Buy a Rolex?
There is no such rule that you have to make “X” dollars a month to buy a Rolex. If you want to buy a Rolex, you should buy one – that is, assuming you can afford it.
Now, that doesn’t mean you should blow your whole month’s paycheck on a watch. Sure, you may have just enough to buy one, but that doesn’t mean you can afford it.
This website is about watches, not financial advice.
Still, you should make sure you can afford to pay for your house, car, food, etc. before you consider buying such a high-end (and expensive) watch.