There, there, little luxury, don’t you cry. You’ll be a necessity by and by.
Have you had the experience of watching someone (or maybe yourself) start out by getting a little luxury and soon not being able to live without it?
I have! In fact I've done it. Many times.
Now I really don't think that it's necessarily necessary to eliminate all of these hidden luxuries, but I do think it's important to realize what they are. Being able to distinguish between a luxury and a need is especially important for times of financial stress. I know many people who struggle to meet their basic needs, while still trying to maintain their luxuries. When and if our budget strings are pulled, if we understand what is a luxury, we could start to tighten down by eliminating those items first in order to be able to still meet our basic needs.
What are the luxuries that you enjoy that have become necessities?
Two cars? Yes. What about one car? Isn't that a luxury in many cases where public transportation systems are sufficient? I think perhaps it is. What about the kind of cars? New? Expensive? Yes, I think those qualify as a luxury. In times of financial stress, if a car really is a need, wouldn't it still meet the need by being a low cost, used car that still runs? Something to think about...
What about entertainment? Gaming systems? DVDs and Video games? TVs? Ipods? Luxuries? I think yes.
Food is a basic necessity, but can't it also be a luxury? Dessert? yes. Eating out? yes. What other food costs could be termed a luxury?
I think this same thought process could apply to all expenses. And when you sit down and think about it, not only does it help you become more aware of what you could trim during times of financial stress, it also makes you truly grateful for what you have. If you are reading this blog post right now, that means you have access to the internet. If you have access to the internet (and even the time to read a post about luxuries), that means you have more than much of the world's population. And that necessarily means that you must have some luxuries (probably quite a few) that could be trimmed back down to the basics in order to help you be financially stable. I know I do.
Anyway, it's something to think about and consider as you work to create your own healthy family. I'd love to hear your thoughts. Do you know people who struggle with this? Have you had any success in trimming out those little luxuries in your budgets?
Happy Frugal Friday everyone! Hope you have a wonderful weekend.
Linked to: Frugal Friday, Hearts 4 Home, Thrifty Thursday, Finer Things Friday, Frugal Tuesday, Mommy Club