Need vs Want economics

Grizzly · November 14, 2015, 05:57:33 PM

In several threads that I've been reading the last week or more is the comparisons and discussion on value of goods, pricing, and Country of Origin. I've noticed that many use low price as a way of managing needs/wants versus available budget and I was kind of nodding along agreeing with everything I read until an old memory of a visit with a friend popped into my mind. His "teaching" if I can call it that was this:
-Anything that is needed I can afford regardless of price.
-Anything that I want isn't needed and thus price is not a determining factor on purchasing.
-If I need it, it will not break the bank.
-No matter how low the price, if I didn't need it it wasn't a deal.
-The greatest difference is do I need it? Or want it?

What do y'all think?

East ky logging · November 14, 2015, 07:30:43 PM

I think you had a very wise friend

beenthere · November 14, 2015, 07:45:54 PM

Like the story goes about the wife who told the husband he didn't need to buy a sawmill (or whatever) that he said he wanted. His reply was that he "didn't need her as a wife, but that he did indeed want her".

Banjo picker · November 14, 2015, 07:59:10 PM

Need is controlled by your mind or brain...a cold calculation of what is and is not. Want is controlled by your proverbial heart. While your mind has, or at least can get the facts of a matter, the heart can and will at times over ride the mind. When that happens we usually find our selves in wild cats up past where we don't want them. Just my spin on things, yours may be different. ;) Banjo

WV Sawmiller · November 14, 2015, 08:42:06 PM

Grizzly,

Reminds me of the high pressure sales people and the difference between the things I bought and the things people sold me. The difference being I made the decision on the things I "bought" and someone else pressured me into the things they "sold" me. I am generally happy with what I bought and get mad every time I look at something someone sold me.

Skip · November 15, 2015, 08:28:07 AM

Grizzly,

Truly words to live by.

r.man · November 16, 2015, 06:38:31 PM

We always seemed to scrape up enough money for what we needed, very often it was something our children wanted but to us that was need since you are only a child once. I don't think we ever had to refuse based solely on cost. I have however missed out on a lot of deals and good buys because I couldn't justify the cost at the time. Always had enough to eat, and a pleasant place to call home. Life is good.

muggs · November 16, 2015, 07:35:37 PM

If you really want it, Your mind will turn it into a need. Muggs

Magicman · November 17, 2015, 09:34:15 PM

She says that she needs the check that I brought home today, but I do not want her to have it. ;D

beenthere · November 17, 2015, 10:23:43 PM

:D :D :D

Cedarman · November 18, 2015, 07:02:09 AM

Needs cause people to expand a minimum effort. Wants can make people work to the maximum.

petefrom bearswamp · November 18, 2015, 07:55:39 AM

To paraphrase Senator Phil grahams statement on guns, I have all the things I need, but not all the things I want.

WV Sawmiller · November 18, 2015, 10:43:55 AM

Quote from: Cedarman on November 18, 2015, 07:02:09 AM
Needs cause people to expand a minimum effort. Wants can make people work to the maximum.

I like that.

Quote from: Magicman on November 17, 2015, 09:34:15 PM
She says that she needs the check that I brought home today, but I do not want her to have it. ;D

MM - I don't think the secret to a Happy Marriage (and maybe a long life) includes telling Miz Pat that.

Magicman · November 18, 2015, 11:38:20 AM

QuoteMM - I don't think the secret to a Happy Marriage (and maybe a long life) includes telling Miz Pat that

I never said that I actually told her that..... ;D

21incher · November 18, 2015, 06:15:23 PM

Quote from: Magicman on November 18, 2015, 11:38:20 AM
QuoteMM - I don't think the secret to a Happy Marriage (and maybe a long life) includes telling Miz Pat that
I never said that I actually told her that..... ;D

Is that because you felt you didn't need to, or didn't want to. :D

After need and want comes just plain got to have it.

gspren · November 18, 2015, 07:14:15 PM

Sometimes I'll look at a Cabela's or similar catalogue and realize that I absolutely NEED something that I didn't even know existed a few minutes earlier.

tree-farmer · November 19, 2015, 06:33:15 AM

Along the same line, some sage advise I received early on was:
If you can't afford it, you can't afford it with interest.

Magicman · November 19, 2015, 08:00:22 PM

I was in Academy Sports today and a nice lightweight camo jacket "needed" me. :D

POSTON WIDEHEAD · November 19, 2015, 09:08:30 PM

Quote from: Magicman on November 19, 2015, 08:00:22 PM
I was in Academy Sports today and a nice lightweight camo jacket "needed" me. :D

$300

firecord · November 19, 2015, 09:16:15 PM

I buy what I want on my credit card and I buy what I need on my wife's credit cards.

beenthere · November 19, 2015, 10:50:09 PM

:D :D :D

lowpolyjoe · November 20, 2015, 09:43:26 AM

Quote from: tree-farmer on November 19, 2015, 06:33:15 AM
Along the same line, some sage advise I received early on was:
If you can't afford it, you can't afford it with interest.

I like that a lot.

I love my country but the growing lack of responsibility among our citizens (among other things) worries me for our future . We have become largely a population of entitled consumers. Everyone buys everything they want on credit because an advertisement told them they should have one. Then you hear them talking on their new iPhone to their friend about how they're about to default on their mortgage. My house value is plumetting because so many homes in my area are going into foreclosure. But everyone has a few new cars in the driveway. Drives me crazy - no pun intended ;)

A consequence for my attitude is that i'm often called a cheapskate. I can live with that.

Cedarman · November 20, 2015, 11:24:34 AM

I'm with you lowpolyjoe.
Call me cheap, call me a cheapskate, call me a skinflint. I love it when people talk dirty to me.
I just don't like to buy frivolous things. I usually drink water with lemon when out to eat. But then I will buy some nice microbrew porter with my savings when at the beer store. I enjoy those so much more than a coke with dinner.