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CalendarBudget Blog

Personal finance matters as they pertain to saving money, living within your means and using CalendarBudget to solve your personal finance problems and to manage your money online.

I Need My Big Screen TV!

I Need My Big Screen TV!

I heard it said the other day that all guys need a big screen TV. Of course it was said as a joke, but it highlights the mindset many people have. We confuse our wants with our needs and end up being unable to prioritize our spending properly.

Our needs consist of food and shelter and true needs associated with those. Perhaps there are a few others depending on where you live, your religion, etc... but we should not be getting to the point where we need the big screen TV.

I heard it said the other day that all guys need a big screen TV. Of course it was said as a joke, but it highlights the mindset many people have. We confuse our wants with our needs and end up being unable to prioritize our spending properly.

Even food can be tricky. I'm a freezie fanatic. Gotta have my freezies. But when it comes down to it they are obviously a want, not a need. I could go without (although life would not have the cool soothing pleasures I love so much!).

We should always prioritize needs before wants in terms of spending. Once those are taken care of, we can determine if we have enough money leftover to purchase some of our wants. Wants should be purchased with cash - not on credit. So guys... you gotta temper that desire for the new toy until you have enough cash to afford it. Don't get sucked into the blackhole of credit because its so hard to get out of.

The Next Millionaires
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