I received an interesting call the other day. It was from a producer from an evening TV news show. They had an interesting question. Were people changing how they viewed their appliances? In other words, were there some things (like satellite TV, landline phones, dishwashers, clothes driers, etc) that people used to consider as necessities, that now due to the economy they consider them luxuries.
It's an interesting question. And, I suspect that much of it has to do with your particular situation. If you've lost your job and are struggling not to lose your home, then things like satellite TV are definitely a luxury.
One way to look at it is to compare the necessity/luxury item to what else you could do with the money. In our 'losing home' example, just about everything would be considered a luxury. If it's a choice between using the clothes drier and having enough groceries for dinner tonight, there's not much to decide.
On the other hand, if using the drier means that I contribute a little less to my 401k retirement plan, then maybe it's still a necessity in my home.
So the answer will vary from home to home. But, the underlying question is a good one. Are there some things in my life that should be treated as luxuries, but have become so common that I've assumed that they're necessary to a happy life. My guess is that most of us have a few things that we really could live without if that's what it took to keep a roof over our heads or feed our families.
If you have some thoughts on the subject, I'd love to hear from you. Just send me an email.
Keep on Stretching those Dollars!
Gary
