It's not a waste of money. I THINK there are ways to aproximate your PAR from LUX given a known bulb. The problem with lux is it's more for the Visable spectrum of light (used heavily in the photography business) but there is alot of light we SEE that is not usefull for photosynthesis and the reverse is also true.
Just do some googleing. I think i remember reading ways to approximate PAR from LUX
what I bought was an Apogee PAR meter
Google lux vs PAR and you should get some good info