Wednesday, August 4, 2010

Wealthy Wednesdays: Want vs. Need

With the state of the current economy many of us have experienced some sort of reduction in income. Whether it is a layoff, cutback of hours, no raise or bonus this year, I think everyone is feeling the pain.  It's times like these that call for the natural resourcefulness of a woman. There are so many ways in which we can cut back.
First, take an honest look at your finances. I know it seems obvious but sometimes we "have an idea of how much money we're spending on take out" but do you really know?  It can add up very quickly. I had a friend that did a quick financial checkup one month and her family spent $600 on eating out and yet she was still buying groceries. WOW! She quickly got a meal plan together and was able to eliminate a lot of that expense by simply asking herself is it a need or a want?  Now I too have a major weakness for eating out. It's like I can't resist it so I really have to watch my finances and ask myself; want or need?  In the winter time I do my pedicures myself but in the summer time I've always believed in getting a regular mani/pedi.  This summer I had to ask myself that very important question again; want or need? I've really had to skip more than I would have liked.  So my solution/compromise is I've been wearing clear polish on my fingernails so I can touch them up myself and I've been stretching my pedicures as far as possible and I haven't gotten any of my normal extras. Whereas in the past I would have gotten a french manicure (extra 5 bucks for a manicure + 5 more for the pedicure) now I get a neutral "office friendly" solid color. Summer has about 13 weeks, that works out to 130 bucks in savings. I would rather spend that on the new comfy office chair my husband has been wanting for over a year.  Which by the way I bought after I originally wrote this post for $49.99 at Office Max, so I'm ahead about $80 at this point.  Sounds good to me! What are some of your usual "wants" that you've had to give up this year?

2 comments:

  1. Great information. I'd like to say that I'm fiscally responsible, but I know I waste a lot of money. Most of it on fast food/buying lunch daily. Then of course there is the shopping . . .

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