Wednesday, January 27, 2010

Needs vs. Wants

Many people ask me how I am so good at being frugal and staying within my budget. I think the biggest thing is understanding this - needs vs. wants.

Whenever you go to spend ask yourself, "Do I really NEED this?" and go even further and ask, "Do I need this to sustain life?" If the answer is "no" then it helps you forgo the purchase much more easily.

We don't NEED name brand clothes, expensive cars, expensive trips, big houses, dining out, a house full of brand new furniture, spa days, etc., etc. Even lessons for our kids are not an absolute necessity and can be put on the chopping block if need be.

We do need food, clothes, shelter, and transportation. All other things would be nice to have and I try to find ways to reduce costs in ALL areas.

When I am able to asses a real need vs. just a want, it helps me curb my spending much more easily. I would love to hear how you curb your spending!

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