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Tag Archives: wants vs needs

Fighting the Urge to Spend Money

I think getting out of debt and going on a diet are very similar. Neither will work over the long term if you aren’t willing to change the behaviors that got you in trouble in the first place. Just like cutting calories while on a diet, cutting spending while getting out of debt is essential. What happens, though, when you reach your goal? It’s OK to start spending again on things you need or value, but just like craving a powdered donut, sometimes that urge to spend comes back when you least expect it. How do you fight the urge to spend money? I’ve had a couple of situations recently that have really tested my resolve. I have vowed to spend no money on clothes or shoes for myself  in 2013. That isn’t usually hard in  a small town with few stores, but while traveling recently, I found myself surrounded by many stores I’ve always enjoyed. I’ve also vowed to drive my 2008 Nissan for at least another 5 years, but when the car broke down recently, I admit I wondered what the trade in value was. It doesn’t help that my Mom and Dad get a brand new car ...

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Avoiding the Impluse Buy: How to Buy New Stuff After Getting Out of Debt

Being in debt pay off mode can be a bit isolating. When you are serious about a goal like getting out of credit card debt, you don’t allow yourself to spend money on things that aren’t necessities. If you stick to your goal, it sometimes takes a long time to get rid of the debt, but it does happen. In our house, it took about two years. During that time, we got used to not spending. It was a good experience and taught us that we don’t need to buy things all the time. Impulse buying was one thing that got us in trouble in the first place. However, through normal wear and tear, household items do wear out or become obsolete. Now that all our debt outside of mortgages is paid off, it’s time to buy a few things for the house, but it’s scary. Since you have to get back on the horse at some point, I’ll share how we are deciding to make purchases after getting out of debt. What Do We Need and Why? There is actually a list of things we need or don’t really need, but feel they will add value to our lives. ...

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