You may have done the exercise of considering potential expenditures as falling into the category of either a need or a want. You probably think of a need as a legitimate use of your funds as in you need to eat to survive or you need to drive to your job as you'll be fired if you stop showing up. At first glance this appears to be supremely useful but it can have the effect of truncating the analysis.
You might make a list:
Need to pay Want to buy
Housing a dog
Food new shoes
Car dinner at new restaurant
Credit card interest music lessons
You'll notice that the items on the left, the Need category are the ones you might see on a typical pre-printed budget that you fill out. They tend to be big ticket items or the larger line items in your budget. But since you need them, and need to spend the money they cost, you focus instead on limiting or eliminating the wants. Now some of those wants may be frivolous, unnecessary and short-lived pleasures. But some of them may add life long meaning to your life and memories that you will remember on your death bed. I appreciate that my immigrant parents paid for piano lessons for years enabling me to have a talent and pleasure I enjoy today. Many people consider their pet to be a member of their family that they would not do without.
|Maybe a tiny house is too extreme for you|
Is it you?