I've been wearing this kind of cheap watch for 20 years now. I'm so glad they still make them. My favorite feature is the countdown timer: I can set it for 1, 3, 5, 10, 15, 20 or 30 minutes without even looking at my watch. It's very comfortable for sleeping! I also use a countdown timer instead of a kitchen timer (or in addition to a kitchen timer if I'm cooking two meals at once). The main disadvantage is that trying to change the battery usually destroys the watch. Because of this, I usually buy a new watch of the exact same style every 2 years. The watch strap is cheap and will break after a year or two of daily wear. But I can't complain: it's a $12-15 watch.
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