Spending Money: iWant vs. iNeed

Ever since the first iPad came out, I’ve been drooling over them. I knew that one day I’d finally have to give in and buy one. I kept telling myself that I would save up my money and wait until the next model came out, but I hesitated when the iPad2 came out. I still wanted it, but I didn’t have enough money saved up for it yet.

Need or Want?

When the new iPad came out, I knew it was time. I had the cash saved up, granted it was for my luxury spending not electronic toys, but I had to get in the right frame of mind. There were so many things I could use the new iPad for, so I kept trying to convince myself that I “needed” it. It could help me get closer to my goal of going paperless (I’m a list maker) and it could also help me stay organized and keep up with blogging tasks better.

Eventually, after a week, I finally got it through my head. I did not “need” the new iPad, I had gotten along just fine without and I was still alive. It was definitely a “want”, but it’s funny how we sometimes try to rationalize our wants as needs to justify spending money on them.

Which One to Choose?

Now that I was ready to make the big purchase, I had a couple of decisions to make. White or black? Of course functionality won the argument and I decided upon getting the black one.

The price difference between the Wi-Fi only and 4G was rather substantial. Since I’m stuck at home all the time and we’re a one car family, getting the Wi-Fi seemed like the best choice. The iPad was expensive enough without having to add on a data plan that I would rarely need.

The Breakdown:

Normally I would use my Best Buy MasterCard to pay and rack up the points, but my credit limit is really low. There was no way I was going to cut it that close and risk an over-the-limit fee. By driving across the bridge to Oregon (5 minutes), I was able to save $50.39 by not having to pay sales tax.

New iPad 32GB Wi-Fi only $599.99
– $55.00 Best Buy Reward Certificates I had been saving
– $544.99 cash from my Luxury Item Savings (extra income earned in 2011, surveys, rebates, swagbucks etc.)

It felt great to pay in cash, but I have to admit it was a little difficult to part with so much cash. In the end, I’m happy with my new iPad and am glad I waited until I had the cash to pay for it, just like I did with my sexy new laptop.

 

Do you ever try to convince yourself that a “want” is really a “need” to justify spending money?

 

About Jen Perkins

Likes: saving money, being debt free (aside from our house), zombies, travel, getting money, blogging and dogs. Dislikes: debt, being broke, bunnies, wasting money, not having enough money to travel the world and paying interest. Facebook  ♥  Twitter  ♥  Google+  ♥  RSS

Comments

Spending Money: iWant vs. iNeed — 16 Comments

  1. I justify wants as needs all the time – clothes, etc – I still haven’t given in to the iPad “need” but I’m sure I will when they are cheaper – I can’t justify buying one until we at least buy a house so maybe not until next year! I’ll just tell somebody I want it for Christmas, haha!

    • Asking for one for Christmas is actually a great way to not have to fork over all that money. I never ask for anything or even really want anything for Christmas, so that wouldn’t work for me. :-)

  2. I think any product that begins with “i” is just a want. Apple does some great marketing to convince people that their products are must haves. Really though, other manufacturers make tablets that are just as good for much less money. When my finances are a little better I might splurge on a tablet, but since it’s not technically something I absolutely need, it can wait a bit.

    • You are so right, “i” anything is really just a want, unless it’s required for work. Apple really is awesome with their marketing. So would you get an iPad or a different tablet if the time ever came?

  3. Ooooo….I love this thought! Awhile back part of my coaching program involved helping people delve into the emotional and mental side of spending.

    If you really think about the need/want thing people do it every day, every where. We don’t NEED a new car, we don’t NEED cable, or cell phones. We justify all of them and they’re not so much engrained in our lives that we believe they’re true needs. But…they’re not.

    • If you’re out shopping naked, then you just might “need” that dress. That would be an interesting way to justify it. :-)

  4. The iWant is strong at my house right now…

    Last summer I bought an iMac – I didn’t need a laptop, and I wanted the massive display. It’s been fantastic. Now that I’m doing design work, though, I need to be able to work on things when I’m not at home. And unfortunately I can’t get Illustrator or Photoshop for the iPad.

    So now I’m saving for a Macbook and it’s ridiculous how impatient I am to get enough money saved. I go to the Apple website and drool over the laptops like I’ve never seen one before. I think this one is kind of a hybrid want/need – I really do need the portability for work, and if I had known I was going to be doing design stuff, I would have purchased a Macbook in the first place. I could get a cheaper laptop, but (1) my non-Adobe design software isn’t available for PC and (2) I need it to stay synced with my desktop so I always have my clients’ files no matter which computer I’m using.

    So I wait. And drool. And save. And want. But I do feel your pain – waiting is HARD!

    • That sucks that you didn’t need portability last summer and have to buy a Macbook now. Apple is just awesome, even though I’m typing this from a my Toshiba laptop. lol

      If your design software won’t work on a PC, then it doesn’t really seem like you have much of a choice if you want to work away from home. I hope you’re able to get it soon, waiting SUCKS!

  5. Whoa….why didn’t you have to pay sales tax in Oregon? Was it just because of the item or do they have no sales tax there? That’s at least 10% you saved right there.

    • Yep, there isn’t any sales tax in Oregon, it’s awesome. Washington sales tax is like 8.4%, so I’m happy about being able to save on tax at least. :-)

  6. Don’t we all do that! I’m working on defining wants/needs with grandchildren so it is good to think about. I actually wrote a post somewhere (may Prairie Eco Thrifter) talking about how it can get hard to distinguish between needs and wants….I used a cell phone as an example. I think it is a want, but a lot of the commenters thought otherwise!

    • Yeah, I think we all do in some way…some people do it way more than other though. I’ll have to browse around and see if I can find it. :-)

  7. I do the same thing, rationalizing my wants. I see no problem spending money on a few luxury items as long as I’m paying in cash and I’m not compromising my other saving goals.