Need vs Want Frugality

For several years my motto for frugality was to not spend a penny on any nonessentials in order to meet some hefty financial goals, (paying off 2 rather large grad. student loans on one income), except for a rare occasion. I pondered that kind of purchase a lot longer than I had been used to while trying to squeeze out the purchase price from my budget first. It’s a discipline of sorts that my financial situation forced me into but I have learned from it.

Just as I have done on those occasions, some of my acquaintances justify purchasing many frivolous things as "needs" rather than the "wants" they truly are.
I have made myself very cognizant of the use of the word “need” and have trained myself to catch it as it sometimes comes out of my mouth. If you really focus on needs vs wants you start getting a little judgmental when you hear other people say the word “need.” It’s amazing at how loosey-goosey we are with the word. Being judgmental of others is of course not good but an awareness of the use of the word “need” I think can be a positive eye opener. Many people are facing this “need vs want” discipline for the first time in years due to our current economy.

As I have explained before I have been going down the opposite road of the mainstream in this economy by spending more money and enjoying some things that we haven’t for a while having paid off our student loans. I feel a slippery slope occurring which tells me I ought to go back to my frugal ways in order to meet more long term financial goals (pay off mortgage and save for retirement). At first it was difficult to part with money that I so desperately pinched and reallocated for quite some time. After making a few nonessential purchases I found that they made me really happy and parting with the money became easier and easier. So now 7 throw pillows, some curtain rods, a lamp and some new bedding later I am thinking that it may be a sin to allow such purchases to bring such joy. I will say that I appreciate them a lot more than I would have before my frugal days but I’d like to stay in a state of appreciation so I’m going to do my best to hold back again. It also seems appropriate for this Lent Season.

So if you are trying to become more frugal not due to job loss but due to a down turn in your portfolio or job insecurity or even Lent, know that it can be a positive growing experience that can set you ahead financially and emotionally especially if you can embrace it over a long haul.