Mad Money and Questions to Consider

by Tammy on December 18, 2009

Me!I’m participating in The Best of 2009 Blog Challenge. Are you?

Q. Online or offline, where did you spend most of your mad money this year?

A. Our lifestyle choices are frugal, but this year I had fun spending money on a camera and a new bike. These purchases didn’t go without thought; I fretted over them for months. Asking myself if I really “needed” the items or if it was just a “consumer want.” My spending spree was a good one.

Why?

The Camera

The camera has changed the look and feel of RowdyKittens. Also, “taking photos all the time has changed my perspective. I see things in a different light and have learned to savor the details of life.”

The Bike

Logan build up a beautiful bike for me this year. It will be a perfect bike for Portland winters. Originally, I didn’t want to buy the bike because it would “cost to much money.”

We had numerous discussions about the expense. In the end, we purchased the bike frame and high quality components. The components cost more than I expected. But they should hold up for 20 years which will save money in the long run and its still cheaper than a car. (Logan – you were right.)

Questions to Ask

If you have mad money lying around ask yourself these questions before spending your hard earned cash.

1. Do I need this item?

2. How much time will you have to work to pay for a new gadget?

3. Is this purchase in alignment with my life values and long term goals?

4. Who created the item? Was it made in a safe work environment?

5. What is the long-term cost of the item (for instance maintenance)?

6. What is the cost of not investing that money?

Closing Thoughts

For me simple living is about following your dreams and pursuing what makes you happy. Sometimes that means buying a few items for your tool box.

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{ 8 comments… read them below or add one }

1 Alejandro Reyes December 18, 2009 at 6:42 am

A really interesting post, and the questions at the end made me really think about the value of the new gadgets I got this year.

This year I bought an iPod, my very first mobile media player. I find myself using it more for note taking and writing (even when it’s really hard), than listening to music.

I also bought a couple of books, they were used so I feel not so bad about them. I think those were the most expensive items (I bought around 5 books) during the year. Still after answering the questions about the iPod, I’m not too sure it was the best purchase of the year. Now that I have it, I must use it up real good.

Anyway, I’m really glad I’m not the only one going without a car! And the bike also brings a great deal of health improvements from the exercise.

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2 Tammy December 18, 2009 at 7:48 am

@Alejandro – It sounds like you’re getting a lot of use out of the iPod, which is awesome. I think it’s good to ask yourself what you need and want. Try not to feel guilty about your purchases; you can always change your behavior patterns moving forward. Plus, books are educational and you can always donate them to the library after you’re done reading.

Living without a car rocks. We’ve saved a lot of money and the health benefits are pretty awesome. :)

Thanks for reading the blog and have an awesome weekend!

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3 Alejandro Reyes December 18, 2009 at 8:51 am

I won’t feel guilty as long as I really keep using it constantly. And I love reading, learning is one of the most beautiful things in the world.

Yes, it’s an awesome weekend of work! I hope you can enjoy it resting a bit. =)

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4 Kevin Martin Doyle December 18, 2009 at 6:51 am

Tammy, I love the questions you ask yourself before purchasing someone. When I first started learning about a more minimalist life, I thought it was a reflexive avoidance of new purchases. I have since learned that is not the case and your questions really, really illustrate that. Thanks so much!

Also, I absolutely LOVE this photo. The mirror itself, filling up the entire frame is beautiful, and it is almost like I am looking through a window and seeing you on the other side! Have a terrific weekend!

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5 Tammy December 18, 2009 at 7:39 am

@Kevin – Thank you! I’m glad u like the photo and found the post helpful.

I took that shot visiting family in NYC. It was a fantastic trip. The best part about minimalist living is having the extra money to visit family members! It’s all about prioritizing your needs and wants. :)

Have a great weekend!

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6 Shane December 18, 2009 at 7:41 am

Thank you for the steps! In addition to large purchases, I feel that a lot of impulsive buyers aren’t mindful of their micro purchases. Using a similar set of pre-purchase decision steps for that $4 Starbucks drink, eating out several times a week, the new Wii game, the new $2.99 iPhone app, etc… would make a big difference. Your choices might be different if you’re supporting a local business, but if it’s a need or a want is probably the same. I’ve looked over past bank statements of my conspicuous consumption period and was in horror at how the micro purchases added up to a few hundred dollars a month. I’m still learning everyday.

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7 Tammy December 18, 2009 at 8:07 am

Great points Shane. It’s important to consider all purchases in depth before taking the plunge.

My weakness is spending too much money on coffee and eating out. I’m still learning too. :)

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8 MJ December 19, 2009 at 3:46 pm

I think all of these considerations are good, and important. I live on the low use, low purchase life plan, but one thing I do know after many years of low impact living…life is WAY too short to not indulge yourself sometimes. Just because something is not a need, but rather pleasing to your spirit (or belly), as long as that doesn’t rule you or overwhelm you financially, who cares?

I am frugal and keeping my life simple, but I’m having the best time in the world doing it and rarely regret the impulse buy mainly because I don’t have credit cards – debit yes – so, if I don’t have the bucks, the brakes are applied without as much pain! And if I cut it too close to the edge? Guess what? It’s only money and as long as the bills are paid, there will be more of it around soon enough if I work for it! And I do… I really enjoy your blog!

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