In the past 2 years, the Hubby and I have learned many valuable money lessons. I left off one VERY big one:
Need versus Want
When it comes to spending money, significant amount or not, ask yourself, “Do I NEED that? or do I WANT that?”. Even the occasional wanted visit to the Dollar Menu at The Golden Arches can add up and take money away from your needed expenses.
Allow me to give a few examples that I’ll let you fill in the blanks for: (I’m channeling my old Cosmopolitan Magazine days for this one, folks!)
- I’m pregnant and my baby ____________ a Whopper Jr.
- I ___________ a new car.
- Gymboree just put out a new line and I have “Gym Bucks” that I ___________ to spend.
- I ___________ to buy formula for my baby.
- I flicked on the light switch and it didn’t turn on. I _________ to pay my electric bill.
Last night, we made a big Need vs Want decision.
- We have planned on buying a new MacBook Air for the Hubby for a couple of weeks now.
- We have some extra income (read: CASH) from a writing gig that we “allocated” to spend on the computer.
- We have a friend who can get us a 10% discount (basically saving us tax), *and* it’s the Back-to-School incentive time at The Apple Store ($100 credit for the App Store).
- We think having a second computer would ease my stress during the day of watching the kids and getting my “work” (blogging, editing, socializing, menu planning, etc.) done before the Hubby gets home to do his “work” on the computer (though he actually makes money some of the time).
- We ran the numbers of what we projected to make in the next 5 months to be able to send off to our debt and things were looking good, even spending $1200 on the computer.