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  1. #1
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    Default Needs vs Wants...Budget

    In light of all the budget talk it got me thinking about needs vs wants. Finances will change and we may need to cut costs or find other ways of doing things.
    Yes we all WANT to live comfortably and have nice things but really do we really NEED any of it. I think as humans living in a developed country and (compared to most other countries) living VERY comfortably we have started confusing WANTS with NEEDS. Eg, We NEED food but WANT too much; we NEED a place to sleep but WANT too big.

    If you think about all the things you have in your life...how many are things you NEED and how many are things you WANT. I can safely say that 80% of what i have in my life is a WANT.

    Think about the basics of human existence...we NEED food and shelter and need money for this and we NEED oxygen and love and this my friends is FREE!!!!

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    Renn  (28-05-2014)

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    I had a similar conversation with my DP today, given our incoming cash flow has suddenly dropped right down....

    At first I panicked, but have quickly realised I can shave heaps off our budget.

    We don't need the fortnightly take away meal we usually get.

    We don't need the coffee we buy after our Sunday morning walk.

    We don't need the organic premium meat from the butcher, we can buy cheap cuts of meat from the supermarket.

    Etc....

    There are so many things we spend money on that are wants. In the scheme of things, even with our weekly household income dropping considerably, we will work it so we can still cover the mortgage & feed & clothe our kids, which is more than a lot of people in this world can say. We're lucky that all of our needs are covered, and even some of our wants will still be covered.

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    Quote Originally Posted by Monkey'sMummy View Post

    There are so many things we spend money on that are wants. In the scheme of things, even with our weekly household income dropping considerably, we will work it so we can still cover the mortgage & feed & clothe our kids, which is more than a lot of people in this world can say. We're lucky that all of our needs are covered, and even some of our wants will still be covered.
    Exactly. Because we live in a world where these things are a given, we take them for granted.

    Can you imagine a million Indian people living in the slums on India lining up at the government offices asking for their (entitled) welfare??? It just doesnt happen. What we forget is these payments from our government are a luxury NOT an entitlement!!!

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    I am always inspired by my Grandparents who grew up in England during WW1 & 2. Receiving rations, going to the underground just to get away from the bombings. They have definitely inspired me to live a more authentic, simpler life- we don't even have a second car anymore.

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    alexis243  (28-05-2014),loislane2010  (28-05-2014),Renn  (28-05-2014)

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    Oh, this is something that gets to me massively when people complain about the cost of living.

    I'm sure that those people are finding it difficult, and I'm not denying that they're stressed/worried etc. etc.... but it baffles me what people consider needs.

    We live on about $30k a year currently - DP, myself and a 20 month old (plus pets). We pay a mortgage, run a car, and live what we consider to be an extremely comfortable life. I think though, that we have very different expectations to many of the people we know. I'd say that maybe 20% of what we spend money on is need too. And we're not extravagant spenders by any means.

    It depends how far you want to go, but really we don't need the house we own, we don't need our car, we don't need electricity. We certainly don't need most of the food we buy (we could live quite happily & cheaply off of lentils & rice), we don't need most of the STUFF we own. We're incredibly privileged that we have it all.

    ETA:
    I was talking to my dad the other day about the house he grew up in, in England. Family of 5. They had 2 rooms downstairs. One had a gas stove & a gas light, the other had a trough with cold running water. Upstairs there were 2 bedrooms. They had the bare minimum of furniture, and that was it. How have we gotten to a point where people think they NEED a bedroom for each child, an en-suite, or an upgraded washing machine?
    Last edited by Renn; 28-05-2014 at 14:46.

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    loislane2010  (28-05-2014),Nomia  (28-05-2014)

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    I almost started a thread on the same topic when reading through the recent car finance thread. So many people saying that they 'need' (eg) a 7 seated for 3 kids, a car with reversing cameras, or whatever they felt was important.

    I was reading through in some amount of dismay that people seem to have lost sight completely of what need actually means.

    I'm not saying we shouldn't want those things, just don't kid yourself that it's a genuine need nor put yourself under financial stress to get it.

    ETA: and don't complain to me about how poor you are because all your (sizeable) income gets sucked up paying for all those wants!
    Last edited by Stretched; 28-05-2014 at 16:31.

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    Quote Originally Posted by Stretched View Post
    I almost started a thread on the same topic when reading through the recent car finance thread. So many people saying that they 'need' (eg) a 7 seated for 3 kids, a car with reversing cameras, or whatever they felt was important.

    I was reading through in some amount of dismay that people seem to have lost sight completely of what need actually means.

    I'm not saying we shouldn't want those things, just don't kid yourself that it's a genuine need nor put yourself under financial stress to get it.
    Exactly, I mean its a very good thing to WANT things. I think that if we didnt want for anything it would be very hard to live/work etc. I mean look at these celebrities that want for NOTHING...they have million dollar homes, cars coming out of their ears and most of them are drug addicts or commit suicide because they are unhappy.
    I think if we all took a step back and settled for a smaller house/car, less food/clothes and what WEcan affort vs what other people have we would be alot happier and way less stressed about money.

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    Stretched  (28-05-2014)

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    I agree. Lots of wants gets confused with needs. Lots of my friends are saying they have to work bc of financial reasons but so many also go on overseas holidays every year, pay for their kids to attend a number of activities etc. Nothing wrong with this as at all but not really a need.

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    Unfortunately, as your income grows so do your expenses. Things that you once dreamed of, start to become things you cannot live without. It takes a real wake up call and dedication to get off that mouse wheel.

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    Jontu  (28-05-2014)


 

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