One of the areas where frugality becomes apparent is in the area of necessities. While some will argue that actual needs come down to food, shelter, and clothing, the reality is we probably “need” a bit more than that. However, even in areas of need, what we “want”–and subsequently end up purchasing–can make a huge difference on our personal finances.

I need shoes. It’s a requirement of work, and pretty much a requirement of life. I have certain things I consider essential or close to it in my work shoes–black, proper fitting, and won’t object to a bit of running and a lot of stair climbing. I may want the $200 pair that look slick and high tech, but what I can make do with is the pair at Ross that goes for $29 or $34 and can last me a year or two. Food is definitely a necessity–I may want to run to the nearest Italian restaurant every night for dinner, but what I can make do with is making something to eat at home and going out for a salad a time or two on the weekends.

Even things which are less need–like a vehicle or a notebook computer–can be shopped for using the ideas of need and want. I would love to have a new 2008 Toyota Tacoma, but I’ll make due for as long as I can with my 2002 Tacoma. I would have loved to pick up a MacBook Air when my iBook crashed to the floor a few weeks back, but instead I’ll make due with this refurbished MacBook for hundreds less. I would love to get a brand new Cannondale to take on my morning rides but I’ll live with the more than 10 year old used model I got from one of my nurse friends a few years back which has seen me through two straight years of 100 mile rides and countless training miles in between.

Considering what in your life is a want and a need and how even those needs can be filled in more frugal ways. Good luck!

6 Responses to “What Do You Want and What Do You Need?”

  1. HMBon 12 Jun 2008 at 3:45 pm

    As I make more money, my definition of “needs” seems to totally change. I guess people always want more whether you needed or not.

  2. [...] Cents asks What Do You Want and What Do You Need?: I have a similar quandary about the laptop, but am trying to stick with the Powerbook as long as [...]

  3. [...] Ryan Suenaga from Uncommon Cents presents What Do You Want and What Do You Need?. [...]

  4. Slinkyon 16 Jun 2008 at 2:46 pm

    The water pump went on my 16 year old, 215,000 mile car a couple weeks back. It has several other issues as well, but this was the final straw. I car pool to work, so I don’t strictly NEED a car, but if I ever want to go somewhere by myself or out with friends I’ll need transportation.

    I’m trying to compromise my needs and wants for a new car. I’ve always wanted a convertible, but I refuse to get one unless I can get a nice hard top, which are all out of my price range. So I’m not getting one right now. I’m looking at buying a new Scion tC. It’s at the top of the range I’m willing to spend on a car right now (just graduating college, I could /afford/ more, but I won’t), but I feel it’s a car I’ll still enjoy driving 5-10 years down the road. I don’t want to buy a car I’ll be replacing in 3 years which is why I’m leaning towards new. Scions are also hard to find used in my area. It’s tough to be logical about buying your first ‘real’ car (the last was 5th hand from an older brother and pretty rough to start with), but I think I’m doing alright.

  5. [...] Cents gives some great advice. We should look at everything in our life and evaluate whether it is a need or a want, and even if it is a need, we should check if it could be done in more frugal ways. Really sound [...]

  6. [...] Ryan Suenaga from Uncommon Cents presents What Do You Want and What Do You Need?. [...]

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