Are you still buying your WANTs?
By daydreamer20
@daydreamer20 (1688)
Malaysia
November 30, 2008 4:02am CST
I'm becoming more and more money conscious nowadays. I personally feel my job is not that secure anymore (the bosses are finding faults with people in order to make them leave willingly. It's too expensive to retrench). Due to this new habit of mine, I've cut down a lot (nearly 90%) of my WANTs. I no longer buy those things I want but do not need. Just so that I have enough savings for rainy day.
What about you? Are you still buying your WANTs?
1 person likes this
4 responses
@ratyz5 (7808)
• Philippines
30 Nov 08
Not as much as I was able to but, those wants that I have bought were all from setting aside those extra change that I get from spending on things that really matter. I really can't buy things that I really want but not need. I often just get to even buy a few of those things that I really need and make an effort for them to last long enough until I have to buy again.
I always try to resist the temptation, especially when I do have the resources to get what I want, I always try to see if its worth it or not at all in the long run.
Of course, we sometimes have to treat ourselves every now and then but, times like now, we can't help but to tighten our belts. (-_- )
@daydreamer20 (1688)
• Malaysia
1 Dec 08
Yeap, thinking about its worth is a very important thing to do. Haha. This is to avoid buying a WANT which will only last for a short while.
1 person likes this
@daydreamer20 (1688)
• Malaysia
1 Dec 08
Yeap, that's why it's not advisable to put the money you've saved into your savings account. Once you see the amount of money at your disposal, you tend to be tempted to spend it away.
1 person likes this
@oldboy46 (2129)
• Australia
30 Nov 08
Ever since my partner and I got together about 10 years ago we have been on a fairly tight budget. In those days I was paying child support for my children with my ex-wife and that took a bit out of the budget. Then we set up a home together and decided it was best to establish a place that was "ours" as distinct from "mine" or "hers". That meant we were on a tight budget from the very beginning but then we decided we wanted to have a small organic farm and that took even more of our money.
So we have always tended to only buy necessities for both our home, our small farm as well as for ourselves. "Wants" are very much luxuries and to get anything like that we have to save a little bit harder. Sometimes we have found that some of the necessities in life are on special and we can make some savings. A few times we have managed to get a few of the necessities on special on one shopping trip and that means we have been able to indulge a little bit.
Australia is in very good condition financially. The Liberal Government we had for 12 years (until a year ago) managed to pay off the debts from the previous Labor government. They also managed to get the coiuntry into a good position andwe had a substantial surplus. However we have had a Labor government once again for the past year and that surplus is rapidly disappearing. Even if we have tio go into deficit, the country is in pretty good shape. With luck we should be able to withstand the recession, if we actually go into recession her that is.
Already companies are making some changes here. For example I am an interstate (long haul) truck driver and where I work things are getting a bit slow. We were allowed to decide whether we wanted some of the drivers to be laid off or take our accrued holidays and see what happens. A couple left to get jobs elsewhere but the rest of the drivers are holding on and hoping for the best. I, and several other drivers, are on holidays at the present time and the others are working. In a week or so, we will change places so to speak. If extra work comes up which needs additional drivers, then one of the drivers on holidays can take the trip. I have done that a couple of times already in the past couple of weeks.
With luck, we will keep our jobs and things will pick up before we all run out of our accrued holidays. So at least the company I work for is honourable and looking after the drivers as best as they can.
It is pretty rotten that your employers are taking a way that makes everyone feel insecure. It cannot be pleasant working in such an environment and no doubt some of the employees will leave. I hope you are able to keep your job until things pick up and you can find one where you are treated better.
In the meantime, keep saving as much money as you can just in caae things do turn sour on the employment front. Good luck.
@oldboy46 (2129)
• Australia
1 Dec 08
Thank you for giving me best response daydreamer. Like you, I too hope that we will all survive the current recession and we shall do the best we can not to go backwards. That might mean making some more budget cuts, so be it.
On a positive note for us, today my partner received a phone call from a place she used to work at when we were saving for daughters weddings. They offered her a position there and after we talked it through for many hours, she accepted the offer. The work will be casual and she will have to work when any of the other staff are sick or away on holidays etc. From past experience we know she will definitely get at least 1 shift every week, most likely on the weekend when the other staff do not want to work. Plus they offered her a full 8 hour shift every second Sunday ngight if she wants t work it that is.
It will not be a fortune of course but certainly it will cover the cost of our food and fuel plus some left over as well. The more hours she does, the more we will we able to put aside and that could come in very handy if I don't get much work driving the truck. If I am away working then my brother and sister-in-law have said they will come here for a couple of days each fortnight. They will be able to help my partner and allow her to get some rest when she is working at this new job. So we are very lucky and now all we have to hope is that I average 3 or more days truck driving every week.
@daydreamer20 (1688)
• Malaysia
1 Dec 08
That's a very good news from your side. Hope things will do well from here onwards. Guess during time like this, we'll just have to hang out and try to be more optimistic. I think that is something I need to learn.
Drive safely ;)
@daydreamer20 (1688)
• Malaysia
1 Dec 08
When we place our income in the hands of others, we can only pray hard that nothing bad will happen and also work as hard as we can. Best of luck to you and your family. Hopefully all of us can last through this recession.
@SydneyHazelton (4586)
• Singapore
30 Nov 08
I have started cutting down in expenses when I decided to stop working to look after my daughter. I think it is important for us to do so, to manage our spending and create more savings for the future. I'm n longer buying wants, just essentials
@daydreamer20 (1688)
• Malaysia
1 Dec 08
Same here. Essentials first, and if we really have a lot of money then maybe we can look at few of the many WANTs.
@tiara50gorgeous (212)
• Indonesia
30 Nov 08
this final I have tried to buy what I need
no what I want