Just Because You Can Afford It Doesn’t Mean You Need It

Wanting something and needing something are two very different things. Last week, my blender broke. It was over 20 years old and its time had come. I’ve been wanting a new blender for years but I felt guilty buying some new, fancy, expensive model when the old one worked just fine. In my head, I couldn’t justify the expense.

When I told my husband the blender finally bit the dust, he got very excited. “Does that mean we can finally buy a Blendtec?” he asked. For those of you not in the market for a blender, the Blendtec is a top-of-the-line blender that can blend anything – even a brick. (If you don’t believe me or you just want to be entertained, check out this site.) It also costs a lot of money – about $400 to $500. Its competitor is the Vitamix. It is equally expensive and claims to replace 16 different appliances in the average kitchen. These blenders are both really cool, and I would love to be the owner of either one. I can even afford one, but when it came down to it, I did not need all the functions that made them so expensive. I bought a $100 blender that does exactly what I need it to do, which basically is to make smoothies.

Saving money is sometimes as simple as weighing the difference between your wants and needs before you buy something. I wanted the expensive blender. I needed the less expensive blender. Being honest with myself saved me hundreds of dollars.

As you get into more high dollar purchases like cars and homes, weighing your wants and needs becomes even more important. You may need a car to get to work or drive your kids to school or get to the grocery store. Do you need the biggest, fully loaded, most expensive model on the lot? You probably don’t if most of your trips are less than 30 minutes long and your family is relatively small. Features like a built in DVD player and seat warmers (if you live in a warm place like Texas) also may be something you don’t need. Buy choosing a basic package over a premium package, you could save thousands of dollars, which translates to lower monthly payments when you are financing a vehicle.

When it comes to wants vs. needs, the best thing to do is to be honest with yourself. Are you buying something because you want it or do you really need all the bells and whistles it comes with? If you ask yourself that question every time you buy something, you’ll be amazed at how much money you’ll save.