“Mommy, I need a chocolate,” or “Mom, I really need those brand-name sneakers and jeans” or “Honey, we need a new car. This one’s so outdated and old.” So often, I have heard those words while traipsing through the stores.
It seems like many folks have forgotten what truly constitutes a need these days. The true definition of a need is: something that you cannot survive without, such as food, water and shelter.
Yes, clothing is a need in today’s world, but brand-name clothing that will cost you a months’ mortgage payment, is definitely not a need. Speaking from personal experience, I have often found the quality of generic, or non-branded items just as good, and in a few instances, even better than their branded counterparts.
Our children are learning from us. They learn far more from our actions and words than we can begin to imagine. When they hear us saying things like, “Honey, we need a new car,” or “Love, I need new curtains for the living room,” they perceive it as a true need, rather than the want that it really is.
Truthfully, nobody really needs a new car. In many instances, we buy a new car, simply because someone we know has recently purchased one, or because we couldn’t be bothered to do comparison shopping and buy a gently used vehicle, which is still in excellent condition. I have never yet owned a new vehicle, and do not ever plan to. Simply because of the fact that you lose far too much of the purchase price when driven out of the showroom or off the lot.
Food is a need as well. Dining out, and take out is not a need though. Most times, we choose to dine out or order pizza simply because it is more convenient than taking the time to lift our posterior from the couch, and prepare something ourselves. Fair enough though, there are many folk out there who work very long hours, and who do not have the energy to cook each night. But on the whole, it is simply sheer convenience that draws us to the take outs like bees to honey.
Your child is starting grade school. Yes, she will need school clothing, stationery, a backpack or trolley case, and books. But she certainly does not need a branded backpack, expensive clothing and overpriced branded stationery products (which are often misplaced or stolen anyway).
My niece started school today, which is what prompted me to post on this topic. After seeing the clothing and branded items that were bought for her, I was shocked. I, for one, know that many of these items could have been obtained a lot cheaper, simply by putting in a little effort and shopping around, instead of grabbing the first items off the shelf, simply because it was convenient, and could be charged to a store card.
Three examples that I noted, which almost made me tear my hair out, were a backpack, a pair of summer floppies/sandals, and a pair of jeans.
Branded backpack: $18 vs non branded, which would’ve cost $5.30.
Branded floppies/summer sandals: $7/pair vs non branded, which would’ve cost $2.
Branded jeans: $20/pair vs non branded, which would have cost $7.
Total of branded purchases: $45 vs the non-branded counterparts which would have come in at a mere fraction of the cost, at (insert drumroll here)…$14.30.
Her mommy could have saved $30.70, simply by shopping around, and not giving in to buying expensive branded items, simply for the sake of convenience, and the fact that all had been charged to a store card. Now, I don’t know about you, but $30.70 is definitely not an amount to be scoffed at, especially now that things are so expensive, and more and more folk are becoming aware of what they are spending their money on.
The sad part about this situation is that my nieces’ conception of need vs want will be totally incorrect by the time she becomes an adult. Now is the time to teach your children the true difference between needs and wants. Not when they are teenagers, because by then, it is difficult enough to convince them to roll out of bed and slouch their way to school, nevermind anything else!
Parents, choose your words very carefully, and think before speaking in front of your children, because you are the ones they will be learning from. Take the time to explain the concept of need vs want to them. Teach them about comparison shopping (note: you will have to take the time to engage in this activity yourself if you expect them to learn how to do it).
If there are nags and complaints about having to “make do” with non-branded items, that becomes an excellent time to start teaching them the value of money, and budgeting. Take them through the shops with you, and point out the difference in price between the non-branded, and branded items.
As a form of encouragement to teach them a little about frugality, give them a specific budget or allowance for clothing or whatever else they may need to purchase for the school year. Tell them that if they exceed it, they will need to make a plan to cover the shortfall themselves. But, this is where the fun comes in. Tell them that if they spend less than the budgeted amount, they can them keep the difference (or part of the difference – whichever suits your budget).
Another idea may be to put part of the saved funds into a savings account for them, and have them add to it during the year, or add to it for birthdays or special occasions. The possibilities here are endless. The only ingredient required is a little creativity.
Parents, this lesson applies to you as well, not only to your children. Yes, a vehicle is a need. Tyres, gas, and services are essential. But a fancy stereo system and detailing, are not. A home is a need, but expensive furniture and fittings are not. You can get by on curtains purchased from a wholesale store, instead of calling in an interior decorator. Do you really need a fitted basement for entertainment? Whatever happened to the living room. There is inevitably a tv in there already, as well as a dvd player and cable connection. Sure, the tv may not be a 50 inch plasma, but again, that is not a need. That is purely a want.
Parents, be the example to your children that you expect them to become. If they see you practicing frugal habits, and comparison shopping, they will follow suit. But there is no way in hades that you can expect them to be frugal, and learn to save, if you are spending every penny you earn, and then some.
How have your spending habits changed since the onset of the recession? Feel free to reply, or leave a comment.
