Now that I'm older and make good money, I've been trying to reclaim my childhood. Pokemon has been a big part of that, I've gone pretty deep recently getting all of my favorites from my childhood while also trying to complete multiple master sets. Your videos helped me chill out and bit and enjoy it slowly instead of rushing. Keep it up! ❤
I totaly understand you .. i found myself in this Position with Digimon and startet because of one Card from a new Set which i felt nostalgic with .. since start of the year until now i completed 13 mastersets and spent a lot of Money .. this realy is Hobby where you have to be super carefull
Omg that's me right now, I just came back to the hobby after many years. I have not gotten into debt or used any of this pay later services, but my bank account is definitely taking a hit. I'm in love with the alt arts cards I am not collecting for investment purposes, I plan to hold the carda for a pretty long time. I will calm down and set a budget and make sure I don't go over it.
I think the excitement just makes you spend happy I just dropped like 250-300 on kitting myself out I don’t feel remorse but recognize this hobby can be dangerous
Didn’t know it was called the Diderot effect, but that is a great point! I have had that thought several times while collecting. To counter that, I make a list of everything I want for my collection. If I see something I want, I check the list to see if it is there, if not I usually think it’ll lead me off track of collection goals. Great vid as always!
Thanks! Setting a monthly budget limit for me together with my girlfriend helped me out a lot and builds trust between us. It also makes the purchases you get to make more rewarding. It indeed is an expensive hobby and it helped me to really decide whether the purchase I would make was really worth it.
I thought I had a good understanding about credit cards and not getting into debt. It still didn’t stop me from piling up credit card debt years ago. I learned the hard way but I paid it off and made sure I didn’t slip back into it. It’s not Pokémon related but it’s a lesson I learned and continue to remember when purchasing product for any hobby.
Fantastic video. This hit home with me a lot. I have recently got into collecting again and wish I had watched this video earlier. I had not realized how much this hobby has changed since I was a kid where in the past a booster box would be filled with 12+ hit cards that you were chasing whereas now Booster boxes would be lucky to have 4 Illustration/Special illustration rares in them. My collecting has got out of hand to the point where it put pressure on my relationship and I have had to stop. I still find myself at times having the itch to keep adding to my collection and continue chasing the big value cards that are still missing but reality is without an enormous income or being very irresponsible with my money this isn't a reality with the hobby as it stands today. It's a shame that the sets/cards value can increase so rapidly which gives you the feeling that if you don't collect this now then its going to cost you even more than the really high amount it is right now.
These are all my mistakes from previous moments i started with pokemon collecting... too accurate man, this video is must see for beginners with no doubt
Thanks for showing us how to be more mindful of our “collecting” (spending). The Diderot effect is so eye opening! I keep wanting to buy more cards to complement the aesthetic of the others! And I literally only started buying Pokemon cards again a few days ago!
i started collecting pokemon cards 2 months ago and goddamn, i'm so lucky i've found you on youtube at the exact same moment. Your videos are so damn helpfull. You're the only pokemon youtuber that shows things how they really are (from what ive experienced so far)
4:30 spot on. Being in debt over cardboard is a really regretful thing for me. I took a long break due to going to an Army school, and in that time the crash had begun. Big wakeup call for me. 100% correct about the coping mechanism as well. I have PTSD and insomnia, and my purchasing was insane when I was going through downward spirals over the years.
Thx for talking about this .. i Just realised that i am in this Situation of Just buying and buying because i think i need more and more for the Collection .. that opened my eyes and i will definetaly think about some purchases
I'm gonna say it again. I've never looked forward to videos from any channel in my life, ever. I watch your videos like I do my episodes of my favorite shows. I look forward to them. Finally someone with intellect and real insight to the hobby. Someone that can actually describe a card with more than just "wow, thats so cool looking". Finally someone that explains patterns of art and artists, financial advise, dos and don't that actually have concrete RELATABLE AND REALISTIC experiences, tips, and advice. Keep up the great work Phil!
You're welcome brotha. It's great to be able to sit next to my wife or parents and listen to your videos, and literally have them interested in a Pokemon video. "That sounds like great advice. What class are you taking?" Said by my father! Way to put respect on the hobby.
When I got into the hobby (around 9 months ago) I would just want to buy anything I thought was cool, granted these weren't all the expensive hitters, but your point about The Diderot Effect was really good. I always felt like I wanted something else. I think setting a goal like "I want to complete x set by spending £40 a month" has been the best way I have found to limit my spending. If I want a card that's £60, then whatever I don't spend in 1 month, can be then invested in the next to help me get those more expensive cards
Thank you for touching base on the Diderot Effect! I have never heard of it but it explains so much about what I wind up doing when collecting / buying singles. I was trying to complete the Galarian Gallery; however, I kept wanting the big chases. I was able to get Glaceon GG before it exploded but missed the chance on Leafeon. Also thank you for pointing out the buy now pay later dilemma as well. I've been trying to save money for big chases and always considered "well... I can buy it now and pay later while saving", never works out lol.
Your videos truly speak to me. As a person that tends to have FOMO while also not having a huge budget for the hobby, I am really trying to learn ways to maximize my profits while also not spending more money that I really should. Love seeing your new videos when they pop up!
Phil, thank you for this one. I hadn't opened a pack in about 25 years until a month ago. I have spent atleast 5k since I started on this recent adventure. It's easy to keep chasing the high you get from pulling a really good card. I've been just trying to stop opening my boxes and leave them sealed. I think the chances of me winning on sealed is atleast 2x better. And the chances of me keeping my money by not spending at all are even better but not as fun. Lol
@newjones1754 yep. I have probably 20+ boxes still sealed. I bought a bunch of 151 at the reprint. Also opened a ton too. I've opened 15 151 booster bundles 2 upcs, 5 twilight masquerade boxes, a few tins and single packs and 1 night wonderer.
@phillips.collectibles I looked back at this comment and laughed. I ended up opening every single box I had. I quit opening boxes then my wife surprised me with a box. Lol. We now call it pokecrack.
Getting back into this as I am seeing my older brother and his friends get into it has been pretty cool. Seeing how they collect there are some neat takeaways but also actions I personally wouldn't and couldn't do with my budget. Imo I either wait for my budget to increase for the cards I want and if the cards accumulate in value by then, there will likely be other cards on my watchlist that will fit into my budget. There really is no rush if you just want to collect for fun.
These are some great tips! I’d also add too that hobbies start personal and they should stay personal. Just because someone buys a case of booster boxes doesn’t mean another person has to. If collecting in your means makes you happy, then let that be what your hobby is and don’t compare yourself to others. I think you said it best in another one of your videos, comparison is the biggest theft of joy. Keep up the great content!
Great video; I hear you on the single player video games. When our daughter was born, my wife and I bought a Switch and Breath of the Wild, which felt like a huge purchase at the time. But we spent 1000+ hours playing that game all together on the couch (often in the middle of the night). Money well spent, we still look back fondly on those memories.
Good Video. I never do the buy now, pay later on anything. Can be dangerous for sure. I play a lot of single player games to, can always find good ones on sale
If collecting is what you’re most interested in you should really look at Japanese. For the SV era I’ve been getting all the ARs for a new set in a lot for less than an ETB. Then I open some English stuff and any illustration rares I get are a bonus. I got ones like Eevee and Gastly for 3-4 bucks a piece.
It is expensive! I track the price of each pull and update it each time I release a video. It is crazy the value we place on unopened boosters when the probability of loss is almost guaranteed.
great video again....thank you... but I have a question, do you know anything about whether there will be a Paldea Evolved reprint in the near future???
@@phillips.collectibles thankyou! Glad to be back. I've just been avoiding temptation till I was ready to buy into a nice new set. Gotta save dat money
BEST TIP: Learn how to sell. Budget to buy is what sold. Sell the low end to mid cards you can live with out when they spike. You can sell an old booster box, buy current box then keep difference. Also self grade. It becomes sustainable. I collect pkmn alt arts and weiss signitures. Havent put in new money for 4 years.
hi, I read the book you recommended, the psychology of money by Morgan Hausel. The book was very interesting and above all written naturally, there were no complicated words or expressions that could not be understood. I wanted to ask if you know of another such interesting book to read. Thanks for the reply. Btw: it was the first book that I read to the end, I was very interested.
Also as someone who priotized pokemon card as first thing in my life unconsciously, the people around you will know it even if you dont admit it. My girlfriend was hurt because 70% of all my money went to pokemon related things and spend most of the time for pokemon. Guys, dont forget this is just a hobby and you are NOT owning pokemon card shop
I blew a lot of money on Pokémon cards one week. But I make up for it in the aggregate cheap fuel, cooking for myself, deleting Uber eats is the fastest way to get money. 😂
@@phillips.collectibles Hey, Phillip! 👋 Currently... none! 🤣🤣🤣 I'm 95% finished Obsidian Flames and 96.4% finished SV 151... and ±60% finished all of the other sets from Crown Zenith through Temporal Forces. Like I said, a fool's errand, haha! My priorities are finishing SV 151 and Crown Zenith. As you say, I'm cautious with my Poke Budget and avoid the temptation to over-spend... and NEVER use debt. Slow and steady. That cards ain't going anywhere, and I'll get um in time.
Why did this video pop up after I just got the PSA 9 dark charizard 1st ed, PSA 10 Blastoise ex 151, CGC pristine 10 gardevoir ex, and a cgc 10 blastoise ex 151 in a span of a week.... I don't need this kind of negativity right now. 🙄🤚
I’ve game-ified my Pokemon budget. Every mile I run earns me a dollar. Every visit to the gym is $5. Gives me extra incentive to stay fit and healthy while keeping my spending under control. Usually works out to ~$100/mo, but forces me to “earn” it. Also keeps ridiculously-high-priced cards in perspective…
I’m a victim to all these points and it was scary how accurate you were with the example of the Diderot Effect cause I had just purchased a Paldea Evolve booster box to chase that Magikarp WHILE checking out with a pay in 4 plan 😩
What helps me is having a series of questions that I try to remind myself each time I'm contemplating a card purchase. Do I feel comfortable spending x amount of money? Is it a character I like? Does the artwork inspire creativity? Is the artwork so immersive I could spend 5 minutes looking at it straight from time to time? Is it a good investment? Is the cost relative to what others are paying for it?
I experienced that Effect wanting to buy some 151 to get back into Hobby. I was buying some random boxes from random sets I was not really feeling connected with or satisfied from until I found some 151 that finally scratched the itch. But, I found my real purpose I like collecting, filling bindered sets. Im not super interested into pulling every chase card and secret art from every set. Now im having fun going to shops finding bulk at cheap prices and filling up binders with forgotten cards from people who were chasing cards. Id really like to find a place to actually... Trade the trading cards. Not just sell them. Most people dont care about bulk or binders though it seems.
Budgeting is crucial. I normally wull collect cards i like for my personal but also to invest but not at once. The lower end IRs thouggh im grabbing cause they are super cheap. Thank God i dont get hit by that Diderot effect. If i buy a boosyer box i dont feel lile spending another 200 on the chase 😅😅
Probably one of your better videos especially when you mention oh I'll just buy the magikarp special illustration and oh then I've just got to buy the Eevee illustration too so there a nice pair! It's extremely easy to find yourself down £500 in an afternoon on eBay if you don't have a good grip on your finances.
I have been saying that single player video games bit to friends for years! I’m glad to hear it come from someone else for once 😂 great investing advice! Thank you!
