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Sadly, there are more people than one can believe that think "need" and "want" are the exact same thing. So how are they ever to decide which is which?
In order to straighten out my finances, this was the route I took at the beginning. Then I moved on to a different system.
I had to decide if a good or service was going to make me more or less productive. For example, spending $25 on a cookbook made me more productive because it made me more efficient and cut down on my waste.
Buying a toy every month for my daughter makes me less productive because she makes a mess out of them in less than 3 minutes and then she wants my attention for the next 57 minutes. This is not true for all children.
Eating out everyday at a nice restaurant makes me less productive because I really can't afford it. If I did eat out everyday, I won't be able to buy the things that make me more productive.
Eating out everyday at a fast food place makes me less productive even though I can afford it. My waistline will grow and I will feel down about that.
Sending my daughter to the top private school would make me less productive because my retirement would never exist. She will have to put up with A-rated public schools and me being more involved.
The only thing is that in my opinion, people who need to know the difference probably won't listen to this "lecturing" until they are in big trouble with their finances.
From the website you posted
Quote:
That designer t-shirt that fits you perfectly? Well, you need more shirts, so why shouldn’t it count too?
From a supply and demand POV, if you already have a t-shirt, you don't need another one. It is like peeling potatoes all day for dinner but neglecting to prepare the vegetables and the main course. Once you become part of society, though, you might need a little more clothes. Depending on your work, you might need slightly more expensive clothes.
Buying a little figurine when you were on vacation in Norway might be worth the money because it can be a great conversation starter when you have guests. It might inspire you if you are an artist. It might bring you pleasure because you remember how beautiful the place was.
Buying a little figurine at the dollar store might not be worth it.
I've found what works for me is to ask myself "How happy is this item going make me feel and for how long?" Most times I realize it's just a temporary desire to purchase whatever it is.....
I've found what works for me is to ask myself "How happy is this item going make me feel and for how long?" Most times I realize it's just a temporary desire to purchase whatever it is.....
This is very true, at least for me.
For instance... let's say I'm considering buying a video game. First I consider the price. Then I consider how much joy it's going to bring me. I 'need' joy in my life, perhaps not in the hunter-gatherer sense but I don't want to live a miserable life. I consider the replay value, the quality of the game, and then weight it against the price.
More often than not, the brand-new price ($60) doesn't win. Now I usually wait for a game to drop in price when I buy it, especially if it's a single player game.
Another example... I don't really "need" a TV, but it would provide me entertainment. I might then 'want' a 60" Pioneer Kuro plasma, but I really only 'need' a 32" Vizio which will still look pretty great.
Or today for instance, I got a cupcake and coffee. I didn't need it. My waistline probably doesn't need it. But I got it anyway. Why? Because it provides some pleasure to me. I enjoy the cupcake and the coffee, and hey I even feel good about supporting a local business.
I think the problem is people overestimate what they really need. They might 'need' a house that's bigger than a shack, but that doesn't mean they should buy a McMansion in the suburbs of DC.
Do you consider whether you need something or just want something
when you buy something?
I have found that this helps me be more frugal
There's no end to things I want
But, there is a much shorter list of things I need
I also want a simpler life
I don't want anything that needs dusting
No cheap and cheerful things around to collect dust
I want a less materialistic life and I want the things that are luxurious
or that give me pleasure to be things worth the money!
What about you?
Ditto.
And I've gotten much better at deciding between my needs and wants.
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(every VW I have had leaks terribly, usually right over the fusebox 
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, buckles, black...
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