Luxuries vs Necessities
It’s unfortunate that we sometimes only think about our finances during these tough economic times. When we are getting by, we don’t think much about buying a Starbuck’s coffee each morning, eating out at lunch, buying brand new state of the art cell phones, big screen HDTV’s, high speed internet access . . . the list goes on and on. However, now that things are tough, I think (or at least hope) many people are starting to evaluate what’s really a necessity and what is a luxury that they can’t afford.
In our culture, immediate gratification and entitlement to the American dream seem to take center stage. Living too close to the edge, paying massive interest on credit cards and gambling with flexible rate mortgages are dangerous games to play. Unfortunately, these issues have gotten many into their current predicament. First, we need to change our mindset and set some rules for ourselves and family.
1. We only buy what we can pay cash for.
2. All credit card expenses are paid off each month.
3. I am going to re-evaluate what’s truly a necessity (food, water, shelter, clothing) verses a luxury item (cell phones, brand new cars, big screen tvs, recreational vehicles, etc).
4. I am the only one that is responsible for my life and the only one who can change my life.
If you don’t truly believe and follow those ideals, I think it’s safe to say you are always going to be in debt and probably expect someone else to come to your rescue. I’m not saying that getting help from others is bad. Absolutely not. Everyone runs into hard times now and then. However, I’m troubled by those who think the government is supposed to take care of them while they sit at home and do nothing. Or, those who thought they were entitled to a home but couldn’t afford it and now want my hard earned tax dollars to bail them out of their bad decisions.
So back to my original point. Has this tough economic time caused you to re-evaluate what you consider to be a necessity and a luxury? What have you done to cut back?
