There are a couple of "wants" that I've been itching to purchase lately. These things are not necessary and will not increase my standard of living. I must say that I've been pretty good about not splurging on crazy things for the past few months.

I could just whip out the credit card and make the desired purchases. But then, not only would I have to make payments to pay off my balance, I'd also end up paying finance charges and helping to make the credit card companies richer. I no longer pay more than I have to for the convenience of instant gratification.

I've decided I will wait on my purchases and do it the right way. I'm going to save and pay cash for my items. Paying cash will make my purchases much more enjoyable.

What do I want to buy and how much will it cost?

Maui Jim - Mauna Loa Sunglasses
Retail Price: $359.00
Flexible, Flexon Temple, Adjustable Nose Pads, Corrosion Resistant, Polarized

Apple Iphone
Retail Price: $399.00

I drool when I see this phone. I have been considering switching my cellular phone provider to AT&T as my employer is a partner and employees get 20% off the monthly service charges.

I'll need roughly $758, not including taxes, to complete my purchases. I've already setup a subaccount at ING to hold my SSA funds. If you don't have an ING account yet, click here for an easy $25 referral bonus. Just open the account with $250 and you'll get the bonus instantly. I'll get $10 to add to my "special savings account" for referring you. Already have a ING account? Consider Revolution Money Exchange - Like Paypal but without the fees. Sign up and get $25 instantly.

One all the bills have been paid, my regular savings account has been funded, my retirement accounts funded, debt payments and extra debt payments are completed, the remaining funds will be directed to my SSA (special savings account).

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  1. Anonymous // April 18, 2008 at 8:25 AM  

    I hear ya. The iPhone is also on my 'drool' list, but I'm going to wait for at least version 2 before I make the purchase (after I've paid off more debt).

    The other 'drool' item for me is a flatscreen TV. I hope to have my credit cards paid off before this year's NFL season starts and a new TV will be my first frivolous purchase in a long time. :)

  2. Philip // April 18, 2008 at 9:47 AM  

    Just yesterday I added another savings account onto ING. It was used to separate out my "Emergency Fund". The iPhone does look pretty sweet, I am just not ready to switch carriers for it.

    Also, I am not sure but if you are switching you probably can get discounts when signing your agreement for service.

  3. pennypincher // April 18, 2008 at 10:29 AM  

    I have a pair of Paradise Maui Jim Sunglasses with the Amber lenses and I absolutely LOVE them. They are functional and last forever. A great purchase for a splurge. I was lucky enough that the bf bought them for me for my birthday two years ago.

  4. G.L. // April 18, 2008 at 10:51 AM  

    I understand the desire to have an iPhone, but why would you want $359 glasses? O_o I mean, I understand that they're probably really advanced and will last you forever, but can't you say the same thing about $100 or $200 glasses?.. And besides, they can be lost or destroyed just as easily as any other small object. :(

  5. Anonymous // April 18, 2008 at 11:05 AM  

    I sit on my sunglasses a lot, so that's definitely not right for me. But if you build up the cash, instead of buying them on credit, it's your money to do whatever you want with. I hope you enjoy both and don't sit on the glasses. ;)

  6. Anonymous // April 18, 2008 at 11:06 AM  

    Oops, that was from me, but I clicked too soon.

  7. Anonymous // April 18, 2008 at 5:33 PM  

    i'm not the type to spend $300 on some sunglasses.. but the iphone is definitely worth it!

  8. Anonymous // April 19, 2008 at 1:07 AM  

    I dunno, I've had an iPhone now since Christmas, and while I drooled over it, I'd wait until June when the new ones come out and the results of Apple's SDK finally hit iTunes. Until then, it's a good *phone*, but sucks as a PDA/Handheld.

    The glasses, yeah, I can't see the justification either, but hey, save and spend on the things that make you happy ;)

  9. Tim // April 19, 2008 at 11:31 AM  

    The iPhone is a really nice device..I just can't bring myself to spending the money to buy one and then pay for the monthly service costs. I'm still a "bare bones" cell phone guy. No camera, no text messages, etc. Just plain old calls. If I had the internet in my pocket I'd then be on it 24/7!


  10. Anonymous // April 20, 2008 at 4:08 PM  

    OH MY GOD- 355 on sunglasses??? Being that i leave mine everywhere (the last pair I left on the counter at the daycare center picking up my son!), I only buy mine at the DOLLAR STORE so I don't panic if I do leave them someplace! BUT, hey, to each his own!!!

  11. Tom // April 25, 2008 at 1:03 PM  

    I would check out using SmartyPig to be your SSA. The interest rate is 4.3% and you can get extra savings from specific retailers. I'm using it for my iPhone fund!

  12. Anonymous // April 30, 2008 at 6:27 PM  

    I head the nex-gen iPhone thru AT&T 2 yr contract is going to be $199 (a $200 dollar discount) on a finance website. Maybe you should wait.