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I spend alot of money on skiing, this year I'm coaching so I have a decent source of income, but it is still expensive, I'm riding skis from 3 years ago, my boots are 4 years old, as are my goggles, and helmet, but I usually just use sales to get what I need, and I know some people so I can get deals sometimes.
Investments: CDs, ETFs, stocks, etc.
or the parents.
It is a combination of:
1) People putting value in new gear over other needs
2) People are poor money managers