Money Management

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

jennylyn — Thu, 09 Jul 2009 00:10:47 GMT

No, my apologies, I read it back and realized it wasn't clear!

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Brandy — Wed, 08 Jul 2009 22:39:56 GMT

jennylyn:
I should have clarified my T-shirts are T-shirts comment . . . it was meant in response to the idea that Old Navy is too trendy to shop in

I did misunderstand your statement. My apologies!

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

jennylyn — Wed, 08 Jul 2009 15:02:31 GMT

Brandy:
So my preference is to buy the ones that will last.

Totally agree with you on this-I would MUCH rather pay a little more for something and have it last a lot longer than to buy cheap and constantly be replacing/repairing it.

I should have clarified my T-shirts are T-shirts comment . . . it was meant in response to the idea that Old Navy is too trendy to shop in or that everyone that buys stuff from there looks the same-someone earlier on posted about Old Navy being a bad place to shop because of these reasons. My comment was meant that a tee looks like a tee, doesn't matter where it was bought really. What does matter is the comfort, feel of fabric, durability, fit, etc and I absolutely agree that the quality of Old Navy, especially for the price, is great and makes them a much better purchase or investment than many other choices.

So end result, I proudly shop Old Navy! For myself, DH and the kids. Their clearance racks have great deals, and when I do shop there, I wait for their sales (they often have a 30% coupon or similar). I don't consider them a pricey place to shop at all, I consider it a great place for purchasing pretty good quality basics at a good price. I get jeans, tees, sweatshirts/sweaters, sometimes jackets, shorts, etc from there. I wish our thrift shops had such good values as yours! Often here, buying on sales and clearance from Old Navy and Target is cheaper than the thrift shops except when they have bag sales and things like that-but then it can be hard to find anything. Thrift shops here are great for household items though, and books too, but not so great for clothes.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Linda Cecil — Mon, 06 Jul 2009 15:36:19 GMT

To me many spindthrifts have something deeper in their life that they are not happy about and are trying to buy things to fill the void.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Pat — Fri, 03 Jul 2009 20:32:54 GMT

Toni B.:
Not only that but we've redefined what a luxury and a necessity is

I think that's the real key to understanding the issue. What is a necessity to many were at one time luxuries reserved only for the ultra rich, or weren't even available for any amount of money. Our world has changed a lot in the last 20 years - or even 10 years. Cellphones, ipods, cable TV, high speed (or any) internet all became common in the last few years. People who have grown up during those years don't realize that it's possible to live happily without them.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Linda Cecil — Fri, 03 Jul 2009 19:39:33 GMT

I don'tcall myself a spendthrift but there are some foods I am willing to pay more for than others examples are Bryan Juicy Jumbo Winers, Oscar Mayer Winers, Hinz Ketchup but this time of the year most of the grocery stores have the winers on sale for .99 so combined with coupons $1.00 off of 2 packs I am actually just paying 44 cents per pack without the sales and coupons most would be at least 3.00 per pack.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Toni B. — Fri, 03 Jul 2009 17:26:03 GMT

Gary:
These luxuries (whatever they are) come from our disposable income. It's a totally different deal when we're not able to pay our bills. Just like Pat said, if I'm scratching to pay the electric bill what brand tea I drink (or if I drink water) is not really that important.

Not only that but we've redefined what a luxury and a necessity is. Some people consider Internet and Cable as important as a phone and would not consider going without them. Not only do those two services cost, but they increase the electric bill to boot. Those who were around before know that you can survive without it. Life would be challenging but you would survive. One of the things that has increased this mindset is advertising. There is always that pressure to upgrade. Having more of everything seems normal and expected. Then one day you wake up and you're told to make do, its a shock.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Gary — Fri, 03 Jul 2009 16:02:04 GMT

One thing that's been touched on, but might need more emphasis:

These luxuries (whatever they are) come from our disposable income. It's a totally different deal when we're not able to pay our bills. Just like Pat said, if I'm scratching to pay the electric bill what brand tea I drink (or if I drink water) is not really that important.

Part of the misconception of articles like the one that started this discussion is that many of the writers have never seen or personally experienced really tough times. They've grown up in the 90's and 00's when the vast majority of people didn't have to contend with serious financial problems.

For instance, if you were born after 1975 you couldn't have much memory over the last real recession we had. That's not meant to be an accusation. Just a statement that you haven't had that personal experience (just like there are many experiences that I haven't had). But, like so many things, if we haven't experienced it we can't fully understand it.

That may be why this recession seems so scary. We have a lot of people who haven't been through it before. If you've survived a recession you know that in a real crunch you give up on those luxuries so that you can afford the necessities.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Brandy — Fri, 03 Jul 2009 12:50:35 GMT

jennylyn:
I like feeling good in my clothes

I absolutely agree. Since I am married and would like to remain so, I also believe it's important for my husband to think I am attractive to feel as if I care about what he thinks.

jennylyn:
T-shirts are t-shirts

They can be. I like a particular cut and fabric. Old Navy isn't the only one that has it though. I have that particular type from Old Navy, Target and Walmart. The Old Navy ones are from thrift stores with prices that were under $2. I have had them for three or so years. The Target ones were on clearance between $3 and $5 and they are only a bit newer than the Old Navy. I bought a few at Walmart last year on clearance at $1.

The Old Navy ones still look good, no color fading, no threads loosening and repels stains well. The Target ones still look good as well. I will toss two of the Walmart ones into the rag pile at the end of summer. They didn't hold their color as well and they stain easily.

So my preference is to buy the ones that will last. My choice is to bargain hunt for them rather than pay full price.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

sissy — Fri, 03 Jul 2009 00:53:33 GMT

Dear pat we all did went to that school.

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

jennylyn — Fri, 03 Jul 2009 00:24:57 GMT

Sorry, meant to tie back to the article in that I think the researchers are right-people have preferences they indulge in, regardless of price. Sometimes those preferences can be the cheaper ones, sometimes they are not. As much as I enjoy my splurges, I also enjoy my non-splurges too-my homemade bread for example. Or the produce from my garden. Or when I buy a used book from the thrift shop or check one out of the library. And more. I think it most spending choices come down to the prefences of the shopper-and that's why marketing is such big business!!

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

jennylyn — Fri, 03 Jul 2009 00:13:38 GMT

Brandy, you make some excellent points!

I think that ultimately, people spend on things they enjoy, I know I do. What is the point of saving money if you never treat yourself to anything? I shop Old Navy periodically myself-good prices, good quality. T-shirts are t-shirts, when it comes down to it. I too like clothes. I haven't been able to buy much for myself in the past couple of years but I do like the feeling of having something new. It makes you feel good about yourself, give me pleasure. I like my kids to look cute. I like having choices in my closet that I WANT to wear instead of just grabbing whatever is there. I like feeling good in my clothes and I'm willing to pay more for that. In fact, thrift stores here are so expensive, Old Navy is often cheaper than they are! I got a skirt there last spring for $2.99 and have worn it A LOT, it would have cost $5 at the thirft store I go to.

Food too is another thing we are willing to spend extra on if we have it. I will be the first to admit that I could probably trim my budget for groceries more-I buy organic milk for one thing. I also go to a regional store that carries lots of local produce. They have good prices, better than the larger chains, but probably not as good as the cheaper, pack your own, warehouse grocery type stores. But to be honest, I've been in the closest one and it just didn't appeal to me-it was dirty, dark, not great variety, etc. So I choose to spend a bit more, support a regionally owned business, and that's ok with me! I like having good food in the house, like having nice choices-it definitely helps with not wanting to go out to eat if you have nice things to eat at home. I always start to think about eating out when my groceries are running low.

And I too order what I really want when I go out to eat-I always try to pick something that I wouldn't want to make at home or that has too expensive of ingredients or whatever. We don't eat out often so if we're going to, I want to enjoy it! And I want to eat something that I'm not going to have at home, if that makes sense.

But, like Brandy mentions, if you don't have the money and are still making the splurges, that's a problem. If you do though, then I don't think there is any problem with indulging in little things. To me, there is no reason to sacrifice all pleasures just in the name of being frugal. I don't actually think that is what being frugal is about anyway (just my opinion!). I think being frugal is about finding the best and most economically efficient way to do what you want to do. To me, that doesn't necessarily mean it's the cheapest way!

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Pat — Thu, 02 Jul 2009 22:54:09 GMT

Deborahmichelle:
Dear Pat, Told you that I went to Assumption College!

I graduated from there, too!

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Deborahmichelle — Thu, 02 Jul 2009 22:51:01 GMT

Dear Pat, Told you that I went to Assumption College! Have a great Fourth! Love in Him, Deb

Re: Why spendthrifts spend -- new research about food preferences outweighing cost

Pat — Thu, 02 Jul 2009 20:37:27 GMT

Deborahmichelle:
Why not just tear open one or more teabags?

Teabag tea is finer cut than looseleaf so it goes through a strainer and you'd get a cup full of "leaves." Also, I believe it's inferior quality and wouldn't make as good a cup of tea. Looseleaf is stronger, too. Good thought, though!