It is normal to want to own expensive things. Even against our own better judgment we desire elite and expensive material items that may depreciate over time or not offer any real use. Some experts believe that we want expensive things to affirm our own self-worth. Or, to non-verbally confirm a level of social status to others. Whatever the reason, it can be hard to justify the need for $1,000 shoes, a $2,000 suit, or a $80,000 car.
Especially when the average, annual family budget is sourced by an average $75,000 income. That doesn’t mean that you can’t have nice things. You just have to be more financially creative about projecting status. I love luxury watches, even though I don’t own one myself. One of those things are the price equivalent of a good used car or a down payment for a house. So, I began to search for adequate alternatives.
Rolex Submariner
“Rolex,” is term that explains the quality of a watch in the same way that, “Rolls-Royce,” explains the quality of a car or airplane engine. The Submariner line of Rolexes was first introduced in the early 1950s. After almost 70 years, the Rolex Submariner has barely changed its iconic and stylishly aesthetic appearance. Rolex watches are made with a grade of steel called 904L, which is more durable than the 316L grade of steel used in most standard watches.
It is self-winding, meaning that it works automatically by siphoning the kinetic energy of your arm movements to work. The face is made from sapphire crystal. Additionally, it has a black dial, ceramic bezel, and is constructed with polished stainless steel. It is water resistant to a depth of 1,000 feet. These watches rarely depreciate and are akin to financial investments. You can get it for just about $8,800.
The Rolex Alternative: Invicta Men’s 8926OB Pro Diver Stainless Steel Automatic Watch with Link Bracelet
We can’t all rock Rolexes. An Invicta is a stylish and affordable alternative that nearly channels the aesthetic spirit of a Rolex. It is self-winding and has over 130 gear mechanisms. Additionally, it has a screw-down crown to keep water out and a mineral crystal face. Also, if you squint your eyes and look at it from a distance, it could be mistaken for a Rolex Submariner. You can get it for about $60.
IWC Portugieser Chronograph
The International Watch Company has been making elite, luxury timepieces for over 150 years from its main headquarters in Schaffhausen, Switzerland. One of its more stalwart brands is the Portugieser Chronograph. It’s alligator leather strap and deceptively standard looking analog watch face belies its artisanal craft-making quality. It has a chronograph function that tracks seconds and minutes, sapphire crystal face, silver-plated dial, and is self-winding. Additionally, it is water resistant to a depth of 100 feet. Available for about $6,300.
The IWC Portugieser Chronograph Alternative: Skagen Denmark Men’s Silvertone Watch with Black Leather Strap
This Danish alternative is about $6,000 cheaper without sacrificing an ounce of aesthetic style. It features a 40mm case, meticulous quartz-times movements, and a three-hand visual analog display. Additionally, it has a mineral crystal face and two sundial that can be used to keep track of the date. Its water resistant to a depth of about 165 feet. You can get it for about $155.
Consider the Alternative
You work hard to pay your bills, so there is nothing wrong with wanting to be stylish. But if you are constantly trying to make a dollar stretch, buying a watch worth several thousands of dollars is out of the question. There is always a stylish and more affordable alternative to the expensive, shiny material item you want, whatever it is. Until you get rich, focus on the stylish alternative instead of going into debt trying to buy a priceless impulse buy.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.