Wants vs Needs

[m3racer]

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?

[disneysteve]

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.

[maat55]

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.

[m3racer]

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

[Snave]

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.

[creditcardfree]

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.

[LivingAlmostLarge]

Same here. Everything is a want, not a need right now.

[Campfrugal]

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.

[responduser]

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.

[InDebtInDC]

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.

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?

[Pitman]

At the moment:

Need:
4 New Tires

Want:
PlayStation 3
GTA 4

[InDebtInDC]

Need:
4 New Tires

How do you know if you need new tyres?

[Joan.of.the.Arch]

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!!

[m3racer]

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.

[maat55]

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.