Invest now or sacrifice and invest later?

by Aaron

Decisions, decisions. Do you buy what you want?… or buy what you need?

I’ve run into this situation so many times before. For example, when I moved to Boston, I needed a hand mixer. Naturally, Target had a variety, from basic 5-speed to 7-speed with retractable cords and multiple attachments. You know which one I wanted :) Of course, I also didn’t want to spend too much and the difference in prices was significant enough. Should I invest now in the expensive mixer or buy the cheaper one and wait until I have more money to buy the better mixer? If I wait, I’ll be buying 2 mixers, and if I don’t, I’ll have less money now.

What do I usually do? The balance often leans towards buying the cheap one now. Even though it’s not as nice, it gets the job done and that’s what counts. That’s what I need. When I have the money, I’ll buy what I want. You need to put on that “I’m responsible” hat and know the difference between want you want and what you need.

Share December 21, 2007 | Tags: , ,
4 Comments 

Comments

4 Responses to “Invest now or sacrifice and invest later?”

  1. Kyle Chafin on December 21st, 2007 2:23 pm

    I tend to agree with your position but I take issue with your example.

    If you actually *want* ANY hand mixer of ANY sort (be it expensive, cheap, luxurious, or ordinary), then we have less in common that I would have imagined. A young man in his early-twenties should not find himself in the market for a hand-mixer. ;)

  2. Aaron on December 21st, 2007 9:59 pm

    Haha, don’t underestimate the power of a 6-speed hand mixer. It’s all part of my master plan to impress the ladies :-D

  3. Laura on December 26th, 2007 12:08 am

    Color me impressed.

    lol. But seriously, mixers are insanely handy. No pun intended. But they speed up the baking process TENFOLD> and since time is money, you’ve really just made a great investment.

    What you should do is invest the money that was the difference between the 5speed and 7speed, in a risky stock, and if it increases in value quickly sell it, sell the five speed on ebay, and buy your 7 speed!

  4. Aaron on December 26th, 2007 8:23 am

    Oh man, that is way too much effort, Laura :-) But if you’ve got any risky stock tips, I’ll be glad to take them ;-)