Things You Need, but at What Quality?
An observational thread of how we overspend on luxury needs
An observational thread of how we overspend on luxury needs
My mom had come over today to talk and we got to talking about how we overspend on extra fancy versions of needs, when does something you need transform into a "needed want"? We concluded that a "needed want" is a fancy, "higher-quality", expensive, special version of something we need. The "fancy, 'higher-quality', expensive, special version" part of it is the want. Where do you draw the line between you needing something or making a need a "needed want", and how much does it cost?
When I talk to people about frugal things I call the ages of 20-80 a "lifetime" because essentially we start paying for all our things in life when we are 18-20 years old, and essentially we will die around the age of 80, so our "pay for our own stuff 'lifetime'" is 60 years.
Here are some examples of mine of how we tend to have too many needed wants in our lifetime.
01. Toothbrushes
-If you replace your electric toothbrush every 5 years in your lifetime and replace the head every month = $4,800
-If you buy a nice $4 regular toothbrush every month in your lifetime = $2,880
-If you buy a dollar store toothbrush every month in your lifetime = $720
-If you buy toothbrushes in bulk at $0.07 from a specialty dealer online in your lifetime = $50
$4,800 VS $50
02. Toothpaste
-Baking soda & peroxide based toothpaste from regular store once a month in lifetime = $2,160
-Same type of toothpaste from a dollar store in lifetime = $720
-Same type of toothpaste from a dollar store with a $1 off coupon each time = $50
$2,160 VS $50
03. Dish Soap.
-One fancy bottle every week from regular store in lifetime = $9,360
-One regular bottle every week from regular store in lifetime = $5,760
-One regular bottle every week from a dollar store in lifetime = $2,880
-Making your own every week from soap bars and borax = $288
$9,360 VS $288
04. Drying Clothes
-5 loads of laundry a week dried in dryer in lifetime = $12,420!!
-5 loads of laundry a week 1/2 dried in summer or all year long = $0-$6,210
$12,420 VS $0
05. Laundry Detergent
-One 40 load bottle (brand name) bought every 2 months in lifetime = $1,800
-Two 20 load bottles (dollar store) bought every 2 months in lifetime = $720
-Making your own every 2 months from soap bars, borax, & washing soda in lifetime = $180
$1,800 VS $180
06. Toilet Paper
-One roll every week for one person (fancy brand) in lifetime = $1,728
-One roll every week for one person (dollar store) in lifetime = $720
-Using old clothing cut up and used for #1 wiping only + above for #2 in lifetime = $180
$1,728 VS $180
07. Household Cleaners
-Average spent in a household in lifetime = $48,000!!
-Average spent in a household making or buying dollar store cleaning supplies in lifetime = $3,200
$48,000 VS $3,200
08. Make-up
-Average spent on make-up in lifetime = $15,000
-Average spent on frugally buying make-up in lifetime = $10,000
-Average spent on buying the cheapest of make-up in lifetime = $1,500
-Average spent on buying cheap make-up with coupons in lifetime = $500
$15,000 VS $500
09. Heater / Heating
-Using a 2,000 square feet heating system in cold weather for 6 hours a day 6 months out of the year for a lifetime = $230,400!!
-Using a 300 watt heating dish, blankets, clothes, and mini 15 watt heating pads in lifetime for 6 hours a day 6 months out of the year $3,450
$230,400 VS $3,450
10. Shaving
-Buying a new razor head every week in lifetime = $5,760
-Buying 3 packs of 10 disposable razors a month at a dollar store in lifetime = $2,160
-Buying a straight razor for a lifetime = $30
$5,760 VS $30
11. Haircuts
-Getting a trim every 3 months at a fancy salon in a lifetime = $7,200
-Getting a trim every 3 months at a regular salon in a lifetime = $3,600
-Trimming your hair yourself every 3 months in a lifetime = $0
$7,200 VS $0
12. AC / Cooling
-Using an central AC system 12 hours a day 6 months a year in a lifetime = $61,200!!
-Using a 150 watt window AC unit & 3 box fans 12 hours a day 6 months a year in a lifetime = $7,860
-Taking cold baths/showers, using 1 box fan 12 hours a day 6 months a year, staying in public where it is cool, closing your window blinds, and staying hydrated in a lifetime = $1,740
$61,200 VS $1,740
13. Coffee
-Buying a cafe coffee everyday in a lifetime = $109,500!!
-Making a cup at home with regular coffee, creamer, and sugar everyday in lifetime = $10,950
-Taking a caffeine pill everyday in lifetime = $2,932
-Kicking the caffeine habit = $0
$109,500 VS $0
TOTAL
$509,328 VS $9,668
$509,323
-You conveniently got your coffee anywhere, but you could also buy a thermos.
-You got to walk around your house in your undies in the winter, and wore whatever in the summer.
-Someone else touched your hair.
-You felt important showing off your designer make-up to your girlfriends.
-You paid for a name on your cleaners.
-You didn't have to clip coupons.
-You got to have a machine dry your clothes and brush your teeth.
for... $509,323
$9,668
With the difference I got to...
-Pay my house off.
-Pay my student loans off.
-Pay my car off and get a second car.
-Go on twelve vacations to different parts of the world with someone.
-and have all the needs above only a diluted version.
Share your observations too!