Comments on: Separating The “Wants” From The “Needs” http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/ Financial talk for the rest of us Sat, 16 Feb 2013 01:14:45 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: reulte http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-109772 reulte Wed, 14 Nov 2007 12:34:11 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-109772 “Scarcity mentality” sounds like Pf mumbo jumbo – did that come out of The Secret? Having an awareness of one’s spendable money is hardly “scarcity mentality”. Savings have probably already been removed from the calculations – I know they come out of my paycheck before I even look at it. (16% to retirement, then an extra 25% go into a house-buying fund, and a smidgen over 10% into easy-to-grab emergency fund). Wow – never noticed I was saving 51% of my income.

There is nothing boring and dismal about choosing where to spend your money and time; borning and dismal is having no money and having to work until you die. After all, to quote Annie . . . you have no idea how long you’ll be around.

How about a philosophical discussion over the value/non-value of a $20 bottle of wine? Or a $200 bottle of wine? Dare we go into a $2000 bottle? A $2000 dinner to celebrate? How about a $2000 car? A $2000 investment into blue chip funds? Into raw diamonds? If you don’t know your parameters for spending — wants, needs, whatever — then it becomes very easy to get financially lost.

Finances, like housework, don’t stop just because it was done once. It’s ongoing.

distressed spouse — tell him your NEEDS; you need to have a financial future and that is, at least as important as his NEED for art.

]]> By: mike http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-89637 mike Fri, 19 Oct 2007 16:04:14 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-89637 I agree that this sounds like a very boring and dismal way to live.

I noticed when you listed necessities, savings was not included. Why not decide first how much you want to set aside each month to make you feel comfortable. Then, once you’ve set the money aside, spend away!

No more philosophical discussions over the value/non-value of a $2 wine purchase!!!

]]> By: Jack http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-88154 Jack Wed, 17 Oct 2007 03:28:18 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-88154 distressed spouse i know the feeling. We have 2 cars that run fine but my spouse wants a new one which with our debt i think we can ill afford. i have seen better retraint since we have monthly budget meetings.

For Annie sounds good but ask a walmart greeter how having it all in the early years feels now.

]]> By: annie http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-83469 annie Mon, 08 Oct 2007 04:51:00 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-83469 Sounds like a very boring and dismal way to live!

To me, if you have a scarcity mentality that’s what you will have: scarcity.

Live and enjoy…..you don’t know how long you”ll be around!

You can always make money but you can’t buy time!

]]> By: distressed spouse http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-47566 distressed spouse Tue, 17 Jul 2007 19:51:13 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-47566 How about when your spouse wants buy arts! which to me is a luxury? But he argues that this is what makes him happy, and he can even argue this is his NEEDs… I rather save the money or invest it for the future for our children. How do you argue with someone who has such different points in values in different things……

]]> By: John http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23852 John Tue, 08 May 2007 13:00:47 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23852 I really like the idea presented here. The best thing about it is the fact that it stresses communication over confrontation. I do a similar thing where I categorize all my expenses under two broad umbrellas: Discretionary and Non-Discretionary. It’s amazing how much money actually ends up on the discretionary side. Good job Trent!

]]> By: Diomede http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23850 Diomede Tue, 08 May 2007 12:51:49 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23850 My first post. I think this is the big question, need or want.
It is so difficult the answer, because is not possible to think completely rationally.

Satisfy only needs means you are not living, just surviving. Nobody likes it.

We live in a society and our spend behavior depends also from the position we cover. Other people, family, friends, workmates.. expect something in some occasion (from buying a new dress to buy a present or give a call..). It is so difficult say no.

]]> By: Baker http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23806 Baker Tue, 08 May 2007 07:56:46 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23806 i really cant agree more. I think that once you know your Wants and Needs then you can have a right view of you financial expenditure and from there we can control the Liability and have more money to be invested in Stocks and Real Estate.
Great Article…

]]> By: Andamom http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23676 Andamom Mon, 07 May 2007 19:45:39 +0000 http://www.thesimpledollar.com/2007/05/07/separating-the-wants-from-the-needs/#comment-23676 Another thought to add to this — If you forgo a major want, take the money that you would have spent and invest it! Then, for s&g, track that investment to see how it performs. Months or a year thereafter, evaluate, would you have gotten the same sort of happiness from your “want” that you are getting from seeing your wealth grow? Hopefully, in due time, you’ll be able to afford a larger want.

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