Great article! However, there are those of us who possess a sufficient mechanical hubris to presume we can fix things ourselves. I find YouTube invaluable, and there are many talented DIYers who go to great lengths to demonstrate how to fix, repair, mend, renew, resurrect almost anything. So, I spend more time than my time is worth, I'm repaid with the satisfaction of having acquired a new skill and a "dang, I CAN do that!" attitude, and don't resent having spent $600 worth of my time (including the inevitable trip to Home Depot, Lowe's, or Ace) to have saved $350 on professional repairs. It's a perverse satisfaction, I suppose, but satisfaction I would not otherwise have had.
Stephen, I think most of us can buy the things we really need and some of things we might want...but not everything. So we need to prioritize what really matters, live within our means, and know that a fund for repairs, unforeseen emergencies, etc. is a necessity, not an option.
Disposal: has a cost, as you pointed out. A good system would make the person who chooses to do the dumping bear the cost of disposal, which would give people an incentive to fix things or buy better quality things. I think our cost of disposal to the dumper are probably too low.
Planned obsolescence: overrated concept. What I've discussed in this article has a bigger effect, I think. Definitely true for phones though.
Phones: Are dirt cheap. You're carrying a supercomputer in your pocket! What would that have cost 30 years ago?
Sorry to be unsympathetic, but I couldn't stop laughing at the way THINGS are. Sometimes it seem like you need to make "keeping stuff running" to be a part time job. Great article.
Stephen, the trend seems clear to me: services will continue to get more expensive relative to the cost of goods (notwithstanding the tariffs and other politically motivated ideas currently in vogue). Rather than complain about the high cost of services, wouldn't it make more sense to establish and build a "stuff that breaks" fund to repair and replace those items which will inevitably break at an unpredictable time? Finanical planners recommend an unallocated 3-6 months income as a "reserve". The "stuff that breaks" fund would, in essence, be a subaccount within this reserve.
I guess what I'm rhetorically asking is "Why spend emotional energy in addition to the money to repair or replace broken items?" Why not just expect it, prepare for it, deal with it when it happens, and spend your energy on positive things that bring you happiness, fulfillment, meaning, and joy?
Ron, I agree that trend will continue. Our time will continue to get more valuable relative to physical goods. That's a positive outcome. It means stuff is more plentiful. But it makes the distance between goods and services more drastic, thus changing our choices.
Great idea about the repair fund. I do have such a fund! I should use it instead of telling myself I'll fix the thing myself.
I didn't discuss saving in the article, but I did discuss how we can't buy as many goods as we think we can. We should buy fewer things and then save up for repairs.
Great article! However, there are those of us who possess a sufficient mechanical hubris to presume we can fix things ourselves. I find YouTube invaluable, and there are many talented DIYers who go to great lengths to demonstrate how to fix, repair, mend, renew, resurrect almost anything. So, I spend more time than my time is worth, I'm repaid with the satisfaction of having acquired a new skill and a "dang, I CAN do that!" attitude, and don't resent having spent $600 worth of my time (including the inevitable trip to Home Depot, Lowe's, or Ace) to have saved $350 on professional repairs. It's a perverse satisfaction, I suppose, but satisfaction I would not otherwise have had.
Sounds like you have both a lower cost from fixing things than many, because you have skill, and a higher benefit, because you enjoy it.
But do you darn socks?
Stephen, I think most of us can buy the things we really need and some of things we might want...but not everything. So we need to prioritize what really matters, live within our means, and know that a fund for repairs, unforeseen emergencies, etc. is a necessity, not an option.
Nailed it. You're a financial adviser -- did you find that your clients could get there?
What about the cost of disposal of ‘expensive to repair’ items? Is built in obsolescence still acceptable? Seems we can do better.
And you categorized phones as inexpensive??? Where you be shopping.
Disposal: has a cost, as you pointed out. A good system would make the person who chooses to do the dumping bear the cost of disposal, which would give people an incentive to fix things or buy better quality things. I think our cost of disposal to the dumper are probably too low.
Planned obsolescence: overrated concept. What I've discussed in this article has a bigger effect, I think. Definitely true for phones though.
Phones: Are dirt cheap. You're carrying a supercomputer in your pocket! What would that have cost 30 years ago?
Sorry to be unsympathetic, but I couldn't stop laughing at the way THINGS are. Sometimes it seem like you need to make "keeping stuff running" to be a part time job. Great article.
Stephen, the trend seems clear to me: services will continue to get more expensive relative to the cost of goods (notwithstanding the tariffs and other politically motivated ideas currently in vogue). Rather than complain about the high cost of services, wouldn't it make more sense to establish and build a "stuff that breaks" fund to repair and replace those items which will inevitably break at an unpredictable time? Finanical planners recommend an unallocated 3-6 months income as a "reserve". The "stuff that breaks" fund would, in essence, be a subaccount within this reserve.
I guess what I'm rhetorically asking is "Why spend emotional energy in addition to the money to repair or replace broken items?" Why not just expect it, prepare for it, deal with it when it happens, and spend your energy on positive things that bring you happiness, fulfillment, meaning, and joy?
Ron, I agree that trend will continue. Our time will continue to get more valuable relative to physical goods. That's a positive outcome. It means stuff is more plentiful. But it makes the distance between goods and services more drastic, thus changing our choices.
Great idea about the repair fund. I do have such a fund! I should use it instead of telling myself I'll fix the thing myself.
I didn't discuss saving in the article, but I did discuss how we can't buy as many goods as we think we can. We should buy fewer things and then save up for repairs.