mikoli:
I am no gay. But I love you.

Lol..... Make God bless us so that we sef go fit live that kind standard. 1love brother!

ZinoFasisi:


If being worth a 100m and i buy a phone of 600k and u call me a foolish spender, that's ur problem

Well some people have 100 million but will never buy an iPhone, because of its limited functionality.

Also 100 million is not a lot since the price of a house in lekki is about 70 million.

In the west buying an iPhone is luxury.. not so many can afford it unless you go for credit. Even though you might think 1.5 k dollars is easy money.

Persons who have studied economics at any point should gather here.

Jarus:
LOL.

I can spend N600K on phone but not now. The opportunity cost at this moment is high.

That's the amount I need to roof the house I'm doing for my mum.

GeoAfrikana:
We work hard to earn money, so it's rational for us to spend our money on only products/services that (we believe) will add value to our lives.

Yesterday, I heard of a phone that costs #600k. The first question that came to my mind was:

what will I enjoy from this phone that my Google Pixel won't give?

So I decided to throw this question to the house.

How can you rationally justify spending #600k on a phone?

Thanks.

I use an infinix phone and i see your Google Pixel as a waste of money......

...the same way you look at those using Iphone is same way I'm looking at you now....


You have the means to afford a Google Pixel phone, that's why you went for it.... Maybe i
couldn't afford it, so, i went for a cheaper alternative..... But that doesn't mean i should see you as "wasteful"....

Aidejay:
ah! Lexusgs430 u are blessed

Our people simply need to understand that people should have the freedom and justification, to do whatever they desire.....

Regardless of how they got their money......... The moment the money reaches their hand, it's their's........

tedimola:
Same way, someone somewhere will ask, why someone will spend 50k on a google pixel phone, when 3,500 can be used to buy phone. is it not to make and receive call?

Bro, its not up for argument. The truth is, as our income increases, so does our preferences. its poverty that will make someone say, that same shirt in the boutique is same as the one in bend-down-select. if that prson hammer better money, bend-down-select will not see him again.

Brother man, pray for the kind of prosperity where u will not think this way when u want to buy phone of 600k, Pray for the kind of prosperity where, you will call chopper to pick you from inside hold up.

God will take us there!!!

point of correction, if that person hammer better money and is not stingy. Because so many people will still negate that rule in economics.

orunmila144:
what are ya building the house in some backwood part of the country ?

How's that your business?

Or you know where my mum lives?

Jarus:
LOL.

I can spend N600K on phone but not now. The opportunity cost at this moment is high.

That's the amount I need to roof the house I'm doing for my mum.

And for you, that alternative forgone. Is a sacrifice you had to take, due to the fact that expensive phone is at the bottom of your scale of preferences or absent from that scale.... Your financial equilibrium, is swinging in ways, only you understands.....

Jarus:


How's that your business?

Or you know where my mum lives?

well you did post it in a public forum

GeoAfrikana:



Thanks for your contribution bro.
According to you, if I get you right, the fact that you can afford it is enough justification.

I don't believe this is rational. A rational human being spends on what adds value/benefit to his life.

It isn't rational by what standard? Yours I guess. You can hold on to your strong opinion based on your situation but do not force your opinion on people.

Like the Mercedes-Benz car, the iPhone is a status symbol and it makes complete rational sense to those that can afford it. If all you can afford is a Toyota, do not try to tell Benz owners they are irrational.

I have this phone. It’s not a big deal.

Really buy what you can afford

Africans and foolishness! Boycott expensive phones and see what happens....

Lexusgs430:


Nope.......

Once money is unlimited to an extent, your scale of preferences net is wider.......

money is limited sir, the richest man on earth can't say money is unlimited. Now that's been rational.

I can buy it and sell it after some weeks.

goodmorning40:
When you get to that point of spending that kind of money on a phone you won't remember rational justification before buying it. You will just buy it wait until you get there

Okay sir I will soon get there sir.

goodmorning40:
When you get to that point of spending that kind of money on a phone you won't remember rational justification before buying it. You will just buy it wait until you get there

have you personally gotten to that level?
Do you know that most girls, kids, youth who can't deduce the valuevof iPhone 11in their lives ll use it.

Maleboy:
money is limited sir, the richest man on can't say money is unlimited. Now that's been rational.

Excuse me Sir, did you miss the ' to an extent'?

GeoAfrikana:


Then we can rightly say money makes people lose their senses and right judgement?

And we can rightly say that most rich people are foolish spenders?

Based on your statement.

Believe u me, u that is holding phone of 70k or so, person holding phone of 20k might possibly think the way you think. Might even say u lose ur sense and is irrational.

GeoAfrikana:



Thanks for your contribution bro.
According to you, if I get you right, the fact that you can afford it is enough justification.

I don't believe this is rational. A rational human being spends on what adds value/benefit to his life.

The point in bold isn't complete. A rational human being can also spend money on what gives them satisfaction, pleasure, fulfilment etc. Some people's happiness and fulfilment per day is worth hundreds of thousands of Naira, and if a 600k phone can give them that fulfilment, they will buy it.

Imagine your monthly earning is ₦2m or more, will you consider it wasteful buying a phone of ₦600k? Even with your alms giving, a time comes when you feel like, mehn I gotta enjoy this money a little otherwise you live your entire life working only for others to enjoy.

You question is beyond phones. It basically applies to everything: cars, clothes, houses etc. Your income determines what you consider expensive and at the same time valuable. To someone who earns ₦100k per month, a car of ₦5m will be too expensive while to the guy who earns ₦5m per month, a car of ₦5m will be below his status.

I have a Samsung Galaxy S7 Edge which is still very clean and working perfectly fine, but right from the time I bought it 2 years ago, I was determined that my next phone would be Galaxy Note 10. In the next couple of weeks, I will take delivery of a Note 10+. Will you then consider my purchase of the phone and say I am irrational when I know I can afford it, I'm not extravagant by any chance, and I've also not been terrible with respect to helping people, even strangers?

This is a valid question considering the average earning potential of a Nigerian.
Strangely so, 600k is at the same time "a lot of money" and "not enough money". Depends on the viewpoint really.
The same question can be asked for much less than 600.
The question should be rather individualised. How much are you earning? What do you need it for? Taste? Preference?

I personally feel most of these items are overpriced. But if you have the money, why not?

Lexusgs430:


If one cannot spend excessively on particular items, does not mean those that do...... Are making a foolish decision......

Human wants are unlimited, but resources are very limited..... Simply put, cut your coat accordingly to the materials available.......

On a phone of N600,000? Yes, those that do are making a foolish decision. Forget value and affordability for the moment.

GeoAfrikana:



Thanks for your contribution bro.
According to you, if I get you right, the fact that you can afford it is enough justification.

I don't believe this is rational. A rational human being spends on what adds value/benefit to his life.

your exchange rate and ease of doing business factors are what ypu should be consideing not the cost of the phone...if ypur economy was good you wont consider 600k alot to buy a phone

davide470:
On a phone of N600,000? Yes, those that do are making a foolish decision. Forget value and affordability for the moment.

How foolish can they be, they are wise enough to earn that money..... And can use those wise decisions, to make more.......

You decide to drink 30 naira garri, i decide to spend 1K5 on fried rice and chicken, is this also an unwise decision?

Iziquiel:

That's Bill Gates leasing a Yatch for 5million Dollars per week. What do you have to say? Was he being irrational?

You just proved OP's case for him. The real rich business guys go for value.

Bill Gate can afford to outrightly buy it but he knows he doesn't need the yatch all year round, so he leases it when he needs it — saves him the cost of maintenance in addition to the initial cost of acquiring it.

The prince who inherited most of his wealth spent $500million buying it and will spend more for yearly maintenance.

Value >>> affordability

The same way you rationalized buying a N50,000-N100,000 phone as a corper on N18k salary.

cococandy:
I have this phone. It’s not a big deal.

Really buy what you can afford

If you are in Nigeria maybe you will understand, you would n’t cough off that money to buy that phone.

goodmorning40:
When you get to that point of spending that kind of money on a phone you won't remember rational justification before buying it. You will just buy it wait until you get there

That's just,I agree with you 100%. if you know you can't afford it yet, don't force it

I sold my iPhone and bought a xiaomi Redmi... I think I mDe the right decision. IPhone caged my life ha.... �

Lexusgs430:


How foolish can they be, they are wise enough to earn that money..... And can use those wise decisions, to make more.......

You decide to drink 30 naira garri, i decide to spend 1K5 on fried rice and chicken, is this also an unwise decision?

Let me ask you this: Would you eat fried rice and chicken that normally cost N1,500 for N300,000 because it was made by one of the best chef in the world?

If Yes, would you consider that as wise?

If No, then getting a phone for N600k isn't so wise whereas you can get one at a lesser amount and it bears the same brand and same features, except a camera adjustment.

goodmorning40:
When you get to that point of spending that kind of money on a phone you won't remember rational justification before buying it. You will just buy it wait until you get there

I disagree with you on this one
the reason is this, Even in the west, we all get it via contract phone, ie we pay monthly. The sad reality is you do not really need this phones in Nigeria as 80% of the tech in the phones can not and do not work in Nigeria cos the infrastructure for such services are not in 9ja, so where is the justification??

See ehn u know say e get the kind level u go da ehn wey Money no be problem and to spend am no go hard you..So.the thing is spend as u like as far say Ur money clean and legit, but don't spend on foolish things that won't benefit you or don't spend just because u want to show off.

Remember say HUMILITY helps a lot.

Nigsrdumb:


Well some people have 100 million but will never buy an iPhone, because of its limited functionality.

Also 100 million is not a lot since the price of a house in lekki is about 70 million.

In the west buying an iPhone is luxury.. not so many can afford it unless you go for credit. Even though you might think 1.5 k dollars is easy money.

People that hv 100 million and don't buy IPhone, that's their wahala, and Everything in this world have limited functionality.

and who told u i wanto live in lekki (that place with no drainage system) if i have 100m u expect me to buy house 70m, is that not madness to me (it is nt to some people). quite different from 600k from 100m


100m is a lot of money as far as I am concerned.
I know IPhone is luxury same way people buy benz.