- RT @Dave_Champion Obama asks DOJ to look at whether AZ immigration law is constitutional. Odd that he never did that with #Healthcare #tcot #
- RT @wilw: You know, kids, when I was your age, the internet was 80 columns wide and built entirely out of text. #
- RT @BudgetsAreSexy: RT @FinanciallyPoor "The real measure of your wealth is how much you'd be worth if you lost all your money." ~ Unknown #
- Official review of the double-down: Unimpressive. Not enough bacon and soggy breading on the chicken. #
- @FARNOOSH Try Ubertwitter. I haven't found a reason to complain. in reply to FARNOOSH #
- Personal inbox zero! #
- Work email inbox zero! #
- StepUp3D: Lame dancing flick using VomitCam instead or choreography. #
- I approve of the Nightmare remake. #Krueger #
Twitter Weekly Updates for 2010-05-22
- RT @MoneyMatters: Frugal teen buys house with 4-H winnings http://bit.ly/amVvkV #
- RT @MoneyNing: What You Need to Know About CSAs Before Joining: Getting the freshest produce available … http://bit.ly/dezbxu #
- RT @freefrombroke: Latest Money Hackers Carnival! http://bit.ly/davj5w #
- Geez. Kid just screamed like she'd been burned. She saw a woodtick. #
- "I can't sit on the couch. Ticks will come!" #
- RT @chrisguillebeau: U.S. Constitution: 4,543 words. Facebook's privacy policy: 5,830: http://nyti.ms/aphEW9 #
- RT @punchdebt: Why is it “okay” to be broke, but taboo to be rich? http://bit.ly/csJJaR #
- RT @ericabiz: New on erica.biz: How to Reach Executives at Large Corporations: Skip crappy "tech support"…read this: http://www.erica.biz/ #
How to Prioritize Your Spending
Don’t buy that.
At least take a few moments to decide if it’s really worth buying.
Too often, people go on auto-pilot and buy whatever catches their attention for a few moments. The end-caps at the store? Oh, boy, that’s impossible to resist. Everybody needs a 1000 pack of ShamWow’s, right? Who could live without a extra pair of kevlar boxer shorts?
Before you put the new tchotke in your cart, ask yourself some questions to see if it’s worth getting.
1. Is it a need or a want? Is this something you could live without? Some things are necessary. Soap, shampoo, and food are essentials. You have to buy those. Other things, like movies, most of the clothes people buy, or electronic gadgets are almost always optional. If you don’t need it, it may be a good idea to leave it in the store.
2. Does it serve a purpose? I bought a vase once that I thought was pretty and could hold candy or something, but it’s done nothing but collect dust in the meantime. It’s purpose is nothing more than hiding part of a flat surface. Useless.
3. Will you actually use it? A few years ago, my wife an cleaned out her mother’s house. She’s a hoarder. We found at least 50 shopping bags full of clothes with the tags still attached. I know, you’re thinking that you’d never do that, because you’re not a hoarder, but people do it all the time. Have you ever bought a book that you haven’t gotten around to reading, or a movie that went on the shelf, still wrapped in plastic? Do you own a treadmill that’s only being used to hang clothes, or a home liposuction machine that is not being used to make soap?
3. Is it a fad? Beanie babies, iPads, BetaMax, and bike helmets. All garbage that takes the world by storm for a few years then fades, leaving the distributors rich and the customers embarrassed.
4. Is it something you’re considering just to keep up with the Joneses? If you’re only buying it to compete with your neighbors, don’t buy it. You don’t need a Lexus, a Rolex, or that replacement kidney. Just put it back on the shelf and go home with your money. Chances are, your neighbors are only buying stuff so they can compete with you. It’s a vicious cycle. Break it.
5. Do you really, really want it? Sometimes, no matter how worthless something might be, whether it’s a fad, or a dust-collecting knick-knack, or an outfit you’ll never wear, you just want it more than you want your next breath of air. That’s ok. A bit disturbing, but ok. If you are meeting all of your other needs, it’s fine to indulge yourself on occasion.
How do you prioritize spending if you’re thinking about buying something questionable?
Carnival Roundup
Live Real, Now was included in two carnivals last week:
Carnival of Personal Finance #348 hosted by Money Qanda
and
Yakezie Carnival hosted by 101 Centavos
Thanks to all of the hosts for including my posts.
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Net Worth Update – January 2014
This may be the most boring type of post I write, but it’s important to me to track my net worth so I can see my progress. We are sliding smoothly from debt payoff mode to wealth building mode.
Our highlights right now are nothing to speak of. We did let our credit card grow a little bit over the last couple of months, but paid it off completely at the end of December. It grew mostly as a matter of not paying attention while we were doing our holiday shopping and dealing with some car repairs.
That’s it. We haven’t remodeled our bathrooms yet, but we have the money sitting in a savings account, waiting for the contractor. We haven’t bought a pony yet, but we did decide that a hobby farm wouldn’t be the right move for us. We’ll be boarding the pony instead of moving, at least for the foreseeable future.
Our net worth is up $13,000 since September. Our savings are up and our retirement accounts are down because there are two inherited IRAs that we need to slowly cash out and convert to regular IRAs.
