01.10.06
Sale purchase
I resisted at first. When I saw it in Arnotts at 20% off which still made it €100 euro I said no, I am poor. This is a luxury.
Then when killing time I saw it again in Brown Thomas. This time it had 30% off AND it was with its stand. Well, I couldn’t go by it a second time, could I? I mean, I’d had to borrow one from my mother at Christmas. And I have all the plates and cups and saucers from my wedding. So I bought it. €110 euro for the two. It’s magnificent. And really, when you get to the stage where you are so broke, you kind of reach a point where it doesn’t make a difference anymore if you are 50 or 500 or 5000 overdrawn. So you might as well have the beautiful Wedgwood cornucopia sauceboat.
Pete said,
January 11, 2006 at 10:04 am
Well, if you only had to borrow one at christmas, that means you need it once a year, so say it lasts 20 years before getting broken, that’s 100/20=5 euro per use. Still pretty expensive, really.
tom said,
January 11, 2006 at 11:02 am
have you considered that you might be broke because you keep spending extraordinary amounts of money on sauceboats and knickers. two things that no woman really needs.
Sarah said,
January 11, 2006 at 12:38 pm
LOL…..Well Pete, my plan is to have fabulous dinner parties involving sauce and gravy so I can get the per use cost down..what better motivation is there to have people around?
Oh, Tom. I have indeed considered this view but what happens is that one tries to have an economical month and deprive oneself. But then the must-pay costs keep crashing in…heating oil…car maintenance etc. So you think , well if I owe money for these boring essentials I might as well owe money for these lovely luxuries. Anyway, the knickers are essential to my mental health. They take me out of that rut of martyrdom. I’m here in my jeans and top and unruly hair. But I’ve got cute knickers so I feel that all is not lost.
Pete said,
January 11, 2006 at 1:11 pm
>you kind of reach a point where it doesn’t make a difference anymore if you are 50 or 500 or 5000 overdrawn. So you might as well have the beautiful Wedgwood
>if I owe money for these boring essentials I might as well owe money for these lovely luxuries
And there we have it, Ireland’s mysterious new attitude to debt.
I wonder how many people feel like that? Lots, I suspect. Borrowing for essential long-term infrastructure (house, car, furniture, washing machine etc.) can be justified if it’s done right (which it usually isn’t). But if you’re borrowing for short-term consumption and luxeries, you’re sinking.
You’ll probably reply that the rising value of your house keeps you solvent. Sure, on paper, but if you entertain hopes of one day paying off the mortgage, going further into debt is pushing that day further and further away. Hey, that’s it! No-one in Ireland has any intention (or hope?) of ever paying off their mortgage! Mystery solved!
Sarah said,
January 11, 2006 at 1:57 pm
oh dear. Pete. I know you are totally right and that I am a bad person. The awareness that the sauceboat purchase was outrageously unjustifiable only adds to the thrill of possessing it. It is a guilty pleasure and the guilt adds to the pleasure. Blame my catholic upbringing. Well, at least I get my kicks from this and not some deviant sexual practice
tom said,
January 11, 2006 at 2:40 pm
I think i prefer to get my kicks from deviant sexual practices than the purchase of over-priced sauceboats. but that’s just me. and the rest of the human race. you really are an odd one sarah.
Sarah said,
January 11, 2006 at 2:45 pm
ROTFL…ah, where would I be without my blog and my wonderful commenters…who needs psychotherapists?
Paddy said,
January 11, 2006 at 4:39 pm
Nice to see that the money you earn from Rupert ends up with Tony.
Sarah said,
January 11, 2006 at 4:42 pm
aaagh. Paddy. I hate you. The sauceboat will never the same. DEEP SIGH. btw, did you see that Denis is buying up Independent shares? I hope this is not a manifestation of possible self-destructive narcisstic tendencies…
Gerry said,
January 11, 2006 at 7:31 pm
What Pete fails to realise is that in 20 years you will still have the sauceboat but you will have no memory of the heating oil you spent thousands on. And all Tom will have is debilitating after effects of a lifetime’s sexual deviancy. i thin you made the right if not the sensible choice.
gerry
Sarah said,
January 11, 2006 at 8:15 pm
hurrah! Gerry, between this and your gay adoption post you are proving much better at explaining me than I am….
Pete said,
January 12, 2006 at 11:59 am
Of course, Gerry is right, 100 euro over 20 years is no big deal, but I really do think it’s helped me understand the attitude to debt thing, which has baffled me for ages. If people see a way out of debt, they will scrimp and save to get there. But if they see no way out, ever, then more debt means nothing, as long as they can pay the interest. But do they worry about rising interest rates in the future, or are they just thinking one month at a time (ie. not thinking)? Sorry for drifting off-topic, perhaps worth a new blog thread Sarah?
Sarah said,
January 12, 2006 at 12:48 pm
oh pete you are right too. This is exactly how everyone operates…Its like my sister-in-law buying cars. The only ever enquires about the loan repayments and ignores the balloon repayment at the end. Then she changes the car and gets new finance before the term is up..so she never has to pay the final installment…but sooner or later its got to catch up..I mean those balloons must get spread over the next loan…Let’s get Eddie in.
Pete said,
January 12, 2006 at 3:43 pm
Actually, what your sister is doing isn’t totally crazy. She is effectively renting, or leasing, a car, in the full and certain knowledge that she will never own it. It sounds like a rational, planned use of debt (unlike people who keep re-mortaging their houses but still believe they’ll own them one day).
It is mostly crazy though, because:
1. She could probably get a similar deal by leasing a car, without incurring any debt.
2. She is always paying for the use of a car during its period of fastest depreciation (brand new – 3 years old).
3. If she ever decides she doesn’t want to have a car any more, she’ll presubably have to clear the outstanding debt to get rid of it, which seems wierd.
4. Modern cars are very reliable, and very cheap 2nd-hand. 3000 euro will buy a low-milage car in mint condition. (mine cost me 1300 euro, perfectly reliable but I wouldn’t call it mint condition). Buying new is pointless.
The balloon payment doesn’t get rolled into the next loan. It’s carefully sized and timed to ensure that consumers do exactly what your sister does, so the dealers keep selling new cars, and keep getting trade-ins at exactly the age and mileage when they can be re-sold most pofitably.
mike said,
January 12, 2006 at 6:12 pm
Jesus Sarah, you really do have a lot of time to yourself.
Ray said,
January 13, 2006 at 9:05 am
My sister does that too, and it is effectively leasing rather than buying. And yeah, it’s still crazy.