When to make do and when not to

Ask these questions to decide whether to upgrade

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Episode Transcript

Speaker 1 (00:03):
Welcome to Before Breakfast, a production of iHeartRadio. Good Morning,
This is Laura. Welcome to the Before Breakfast podcast. Today's
tip is to think through when to make do and
when not to. There is no point buying new things

(00:24):
when the old things work just as well. On the
other hand, there is no point being constantly unhappy with
little things either. A little contemplation might help you figure
out the right balance. So, as longtime listeners know, I
am a fairly frugal sort, I come down strongly on

(00:46):
the side of making do. I am driving a twelve
year old car because it still works. I find it
incredibly annoying when I have to buy things like new
socks and new underwear, because in my mind these things
should last forever. Now, there are some upsides to being

(01:06):
willing to make do. I can and have lived on
very little money when that's been necessary. I am not
upset by mediocre accommodations. When I'm traveling. I am generally
content because I am not thinking about what's wrong with
what I have. On the other hand, I have lived

(01:27):
with things that, it turns out, are easily solved for
a long time. I spent a year recording this podcast
while sitting on the ground in my closet. It turns
out that they make chairs. So the question becomes when
to make do and when not to make do. This

(01:50):
should somewhat be shaped by what anyone can afford. If
not making do means taking on debt, then it is
probably a bad idea. If not making do means not
having a robust emergency fund and being fully on track
for funding your retirement, then again no. But once we

(02:13):
reached the place of having some discretionary income, then I
think there are a few questions to ask. First, if
it is possible to make do, how much joy would
something new bring to your life? Since I am reasonably
happy with my car and don't derive much of my
self concept from my car, I don't think a new

(02:36):
car would bring me particular joy. Now that equation would
change a lot. If my car didn't start half the time,
then a new car would bring me tremendous joy, as
I would be less stressed and I wouldn't be late everywhere. Second.
Even if something would bring joy, what else could you

(02:58):
do with the money? Money is fungible, so money spent
on one thing is money not spent on something else,
and it is possible that that's something else might bring
even more joy. So, for instance, you might think it
would be fun to upgrade your kitchen, but if that

(03:19):
would cost the same as a trip to Europe, and
you think about it and realize you'd rather take a
trip to Europe, then maybe it's worth making do with
your counters and cabinets and enjoying your vacation instead. These
answers are going to be different for everyone. Maybe you
have no intention of traveling to Europe, so those counters
and cabinets would actually make you happier. Or maybe you

(03:43):
have so much cash that there is no trade off.
There is nothing else you would do with the cash
because you are already doing everything that you want to.
If so, have at it with the caveat that avoiding
waste is a good in its own right, So if

(04:03):
you are redoing your kitchen before it falls apart, it
is worth seeing if you can recycle or donate the materials.
Maybe it will be possible, and maybe it won't be.
But on the other hand, I guess flying internationally creates
a lot of waste too. It's just always something to
keep in mind. Sometimes it's good to make do and

(04:25):
sometimes it's better not to. It is always just a
question of how much joy the choice would bring to you,
and if it would bring joy, if there is another
choice that might bring even more joy. Optimizing in that
way can help us create a good balance and spend

(04:45):
limited resources as wisely as possible. In the meantime, this
is Laura. Thanks for listening, and here's to making the
most of our time. Hey, everybody, I'd love to hear

(05:07):
from you. You can send me your tips, your questions,
or anything else. Just connect with me on Twitter, Facebook
and Instagram at Before Breakfast Pod. That's b the number
four then Breakfast pod. You can also shoot me an
email at Before Breakfast Podcasts at iHeartMedia dot com. That

(05:27):
before Breakfast is spelled out with all the letters. Thanks
so much, should I look forward to staying in touch.
Before Breakfast is a production of iHeartRadio. For more podcasts
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