I've been thinking a lot more about how to spend efficiently. I don't want to be a miser or too cheap. On the other hand I want to spend on things that increase happiness and are aligned with values for me and family and friends. Some things I thought I needed turned out to be wants. They may still be ok to buy as long as I know the difference. I also started finding ways to save money without sacrificing anything. I found a $60 Kindle Fire to do everything an IPad would. My Iphone 4S works great for my needs. I switched from AT&T to Straight Talk and saved over $100 /mo for the same service. I'm always looking for other great ways. Do you have some favorites? Also worth a look is a formal method to do a needs analysis, brought to you by the "Conserver Lifestyle." If interested: http://wealthydoc.com/blog/do-you-really-need-that-how-much-will-it-really-cost-you
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Perhaps interestingly I read the title as “Need versus Want to save money.” I thought you would be asking about oversaving which might be a more interesting topic for a certain subset of readers of financial blogs..
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You are right that would be a good topic. I didn't word this one very well.
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Radiologist & WCI guest poster The Happy Philosopher talked about the marginal utility of money as it equates to happiness.
It applies to the Wealthy Doc's premise. The iPad might be 20% better, but costs 500% more. Same idea with the cheaper phone and phone service. You can apply the concept to pretty much anything available purchase.
I'll go check out Wealthy Doc's post.
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