I know sometimes our elders don't want to spend money on themselves. It's partly due to how much things cost these days, much different from when they were my age (26). Plus they save more than most people do (and I don't just mean money). My husband's grandfather has many sweaters but some that are too worn to repair, so for last Christmas, we purchased him a sweater, nothing fancy just simple. He was so happy he had something new and it wasn't something that cost a lot of money, it was just something thoughtful and useful for him.

Growing up in the 60's, we had alot less and we were happy.  And over the years there have been good years, even great years in the economy. So what is wrong with that?  I've worked hard 33 years full time, saving and preparing for my senior future . But now it's not enough. Will I ever be able to retire and enjoy a few fruits of my labor? Now I'm supposed to darn socks and pray I don't get sick?  Could the baby boomers have foreseen the terrible policy changes coming their way?   I believe articles about serving a family of four $3 noodle dinners and getting that old rusty bicycle out of the cellar to be condescending not only to me, but to the working poor of this country who don't stand a chance and see no hope for their golden years. Living in the present on nothing is really great in a news article, but hardly realistic for millions of Americans.  Grandma doesn't need a sweater. She needs a contribution to her $2500 per month arthritis medicine that Medicare Part D barely covers.  Perhaps some of these bankers and lenders should be taking a vacation behind bars for contributing to this mess.

I have been married for 37 years, and have an "empty nest".   I have spent most of those 37 years acquiring stuff.  Now, I'm ready for the tide to turn and "go out". I'm sick of too much stuff. A lot of it depresses me. When I tell our kids I don't want anything for a gift occasion, I mean objects. I would love for them to take us out to eat, come over and mow, or rake the yard, etc. How about a book/roll of stamps? As long as I don't have to feed, water, or dust it, I might like it!

My DH has a great rule of thumb: If you didn't own xyz would you go out and buy it?

www.flylady.com has been a salvation in dealing with my clutter, and recognizing that others can benifit from my unused items if I will release them. The giver and the receiver can both be blessed. I do have one rule. I never give anything away that in such poor condition that I wouldn't use it. People can use my extra items, not my discarded trash.

Elders are no different from youngsters. Everyone needs and wants something. Personally as I grow older I find purchased material items are not as important. My most treasure items I have accumulated are, pictures of my children, relatives, friends and spouse, hand made card, trinkets and drawn pictures from my grandchildren, but most of all peace, quiet and everyone happy.

Looking back on photos of my brother, sister and me from the early 70's, I see  a bunch of rag-tag kids, however, I never remember being without anything.  Today, if there's something I think I "need", I check for it at the local Goodwill or junk-store/flea market.  If I can't find it there, I really don't need it.  Food and underwear is about the only thing I purchase new.

I must agree with the old folks that we have assumed so many of our wants as our needs.One should honestly identify the needs and wants , and avoiding wants will make the middle class people comortable with their income.

OK - I see the difference between wants and needs, certainly...but if all I want is to have everything I need, and most or all of my needs are met, I have no goals to reach for.  I'm very far from wealthy.  I live in one of the poorest states in the nation and I'm femaile with a HS diploma.  I make enough to support myself and my 2 children, with minimal child support from their dad.  Still, our needs are met - we have a roof over our heads, food in the frig, clothes, shoes, beds, etc.  So, ifI look at it from the wants vs needs point of view, I don't have to work harder to try and get a promotion to make more money, right?  And what about family vacations? Is that a want or a need?  Because, let me tell you, we can live without going to the beach for 5 days, but that vacation could be very important time for my children and I to leave all of our friends and extended family and have time for just us.  

So, although I agree with the wants vs. needs thing in theory, I don't agree with it in practice - if I decide that my current job provides us with everything we need, where is my motivation to promote and improve our financial situation?  There are no goals to strive for.

Yes, I'm very happy that we have all we need.  Because of that, I don't have to suck up or go against my moral standards at work in order to get promoted...that gives me peace of mind.  But to say that I should be satisfied to have our needs met and not strive for meeting some of our wants is very limiting.  I can't imagine a better way to teach my children the value of a dollar and how to save without setting attainable, desirable goals.

This is one of life's lessons I am trying to teach my 6 year old daughter -- A want is not necessarily a need. Shopping does not necessarily mean buying. With the American consumerism society we currently live in, it is getting harder and harder to teach our children this lesson.

A few years ago a radio station I was listening to was asking callers to call in and tell what modern convenience they could not live without.  Most mentioned things like dishwashers, microwave, washing machine, etc.  One 80+ year old woman called in and said it simply "running water"!  

A couple of times a year when our 3 children, 4 grandchildren plus spouses get together, we have a Free Flea.My husband and I look around the house and garage at things we are no longer using, don't need and don't want.  We put all of the stuff on our dining room table, etc. and they draw numbers. They take, in turn, what they would like.  We serve dinner afterwards and it is a great party. It's fun to go to their houses and see "our things" being used to good advantage.  Everything left from the Free Flea we give to local charities.