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    Wants vs Needs

    How many of you struggle to curb your desire to make a big purchase? Especially, knowing that this purchase is unnecessary. Personally, I've been dying to buy a newer car. I know I can afford it but it's completely just a want and not a need. Am I torturing myself needlessly?

    #2
    Nope. I think you are being responsible and rational rather than giving in to instant gratification. I drive a 1998 Camry with over 100,000 miles. Would I like to have a shiny new car? Absolutely. Can I afford one? Absolutely. Am I planning on buying one anytime soon? Not a chance. Not until the current car dies or becomes undependable.

    Of course, that's not to say that one should never spend on Wants. We do that often enough - dining out, vacations, new clothes, etc. We just try and do it within reason so that we don't feel deprived or "poor" while still saving plenty for the future.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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      #3
      I have learned to prioritize my wants and needs. My first want-need was a to be debtfree, then have a 10,000 EF and now to invest monthly. These came before any other financial purchase. Next is to put 400 a month in savings for auto's, which are doing now and then figure out how we are going to buy a big screen tv.

      We just got back from the grocery store, and while buying our pop I thought, how much am I paying for pop a year. Pop is a luxury and is not that important to me when you look at it on a yearly cost basis.

      Like you, I used to salivate over the electronics or car adds, but now I have no interest in them. I hope thats a good thing.

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        #4
        Good point maat55. Maybe I should start thinking that paying off my student loans is a want.

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          #5
          You really have got to look at the wants and then prioritize them. I am with Steve on a nice new car. Would I like one? Yes. Is it that big of a deal for me? No. It is a want and if I had an endless supply of money or felt very financially secure, then I would get a new one. I just have different wants for the financial situation I am in. It is all a trade-off. However, I am not that much of a car guy. Now, I won't pay for the new car, but will pay that much for my golf membersip each month. That is a want that I won't do without. Oh, and as maat55 mentioned about pop; diet coke would be considered a NEED for me. Some people drink coffee, but I take my caffeine cold.

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            #6
            We've recently curbed our desire for a newer van. It was a tough decision. We can afford a newer one and our current van is 11 years old and does need work from time to time. I think we realized it was more of a want than an absolute necessity. We really need to pay off our home equity loan. It will put us in a better place financially when we need to move again in about two years.
            My other blog is Your Organized Friend.

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              #7
              Same here. Everything is a want, not a need right now.
              LivingAlmostLarge Blog

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                #8
                I have been wanting a newer vehicle also. I have a 2001 Jeep Grand Cherokee with 95,000 miles on it. It is in really great condition, but I was thinking of upgrading to maybe a 2005-07, but when I looked at the price, I was Wowed. I don't want to pay that much, just upgrade. So I decided that I would get a really good car cleaning inside and out and new tires and keep it for a couple more years. But it was good to look. And, then what happens, two of my very close friends went out and bought newer vehicles. Oh, don't tempt me. Nope, I am going to stick to mine.

                Comment


                  #9
                  Originally posted by m3racer View Post
                  How many of you struggle to curb your desire to make a big purchase? Especially, knowing that this purchase is unnecessary. Personally, I've been dying to buy a newer car. I know I can afford it but it's completely just a want and not a need. Am I torturing myself needlessly?
                  Not exactly.

                  Many times we do something that we don't need but we may want to have that because of our passion or liking.

                  Comment


                    #10
                    Originally posted by m3racer View Post
                    How many of you struggle to curb your desire to make a big purchase?
                    I would venture to say that everyone struggle with this problem. Well, at least the sane people do.

                    Originally posted by m3racer View Post
                    Especially, knowing that this purchase is unnecessary. Personally, I've been dying to buy a newer car. I know I can afford it but it's completely just a want and not a need. Am I torturing myself needlessly?
                    Buying a new car in and of itself isn't necessarily a bad thing. If your current car is dying, then it may be a good idea. If you can get a new one at a good deal, it may be a good idea. If you don't have a car at all, then you don't have a choice.

                    What car do you have now and what car do you want?

                    Comment


                      #11
                      At the moment:

                      Need:
                      4 New Tires

                      Want:
                      PlayStation 3
                      GTA 4

                      Comment


                        #12
                        Originally posted by Pitman View Post
                        Need:
                        4 New Tires
                        How do you know if you need new tyres?

                        Comment


                          #13
                          I know I need new tires when I can see the tread is getting low and the tires also spin when trying to accelerate from a stop on a wet street. That is scary to me, as I figure they will just as easily lose traction on a turn or stop on wet roads. How about that old Lincoln's head on a penny trick? Is that a decent way to judge the condition of tires? I want and need good tires!!
                          "There is some ontological doubt as to whether it may even be possible in principle to nail down these things in the universe we're given to study." --text msg from my kid

                          "It is easier to build strong children than to repair broken men." --Frederick Douglass

                          Comment


                            #14
                            Originally posted by InDebtInDC View Post
                            What car do you have now and what car do you want?
                            I drive a convertible.....in a snowy state!!! I moved from a warm state that never had snow. It was an unexpected move due to work. So now I drive in zero degree weather with snow in my rear wheel drive vert. I would like to get a used coupe because its more practical (ie. trunk space). I'd probably have to fork out another 25k to do it, however.
                            Last edited by m3racer; 04-29-2008, 06:11 AM.

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                              #15
                              Originally posted by creditcardfree View Post
                              We've recently curbed our desire for a newer van. It was a tough decision. We can afford a newer one and our current van is 11 years old and does need work from time to time. I think we realized it was more of a want than an absolute necessity. We really need to pay off our home equity loan. It will put us in a better place financially when we need to move again in about two years.
                              I was a twice a week golfer for the last 15 years, but quit this year because it was getting in the way of my financial security plan. When I get where I want to be, i'm going to go back to it.

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