Just because I can buy something, doesn’t mean I should.
I was recently invited to a beer tasting event that I turned down. The event was $50, plus tip, and while I’m getting better at trying new foods, much of the menu was really out of my comfort zone. Being unemployed, I just didn’t feel right about spending so much on a meal, especially one that I wasn’t certain I would enjoy.
We can afford a lot of things…
Did I have $50 in my bank account? Yes.
I could technically afford it. I really could afford a lot of things right now if I wanted! If I wanted to wipe out my emergency savings, I could afford any of these fun things:
- A new car! (4 new cars under age 30? No thanks!)
- Several awesome vacations!
- I could tackle most, or all, of my wish list of house projects: new gutters, doors, trim, get rid of the popcorn ceilings, re-seal driveway, and so on…
- A hot tub!
- A lifetime of doggy daycare visits for Max!
- New furniture!
- All the books my little heart desires!
Yes, I certainly could afford to buy many nice things!
But we can’t afford everything.
While I would enjoy most of the things on that list, I don’t need any of them really. Just because I can buy them, doesn’t mean I should.
We can afford a lot of things, but we can’t afford everything.
I could have the new car or I could have the home renovations…but I cannot have both at the same time. (without going into debt, which is not an option I would consider.)
If I have any of these things right now, I’d be giving up something greater: my precious emergency fund. Which I need right now.
It’s all about choices
Personal finance is all about choices. I spend $50+ on a dinner where I may not go home feeling full…or I have the peace of mind that I won’t need to dip into emergency savings that week.
I can live it up while I’m unemployed and dip into savings (because that’s what they’re there for right?) but then I won’t be able to afford the new gutters that I really want and still have enough savings to have peace of mind.
It’s all about choices. Just because we can, doesn’t mean we should. And while we can afford a lot of things, we cannot afford everything.And while we can afford a lot of things, we cannot afford everything. Click To Tweet