Is a TV a luxury or a necessity?
My original plan was to check out Black Friday/Cyber Monday flyers to try and snag an awesome deal. But I wanted a name brand TV with a lot of options, that wasn’t happening for me in my < $500 price range. :| I wanted an LG, and since I don’t think I’m going to subscribe to cable, I was really interested in their Smart TVs. So, I headed to Craigslist to see if I could pick up something used within my price range.
Thanks to a sweet Telus deal (where customers could get a 42″ LG SmartTV for free after signing up for a 3-year contract), Craigslist was flooded with these brand new TVs (MSRP close to $800 + environmental fee + tax) going for anywhere from $550 to $700. After lowballing a few sellers, I finally got somebody to sell me his for $450 – and with free delivery! :)
To help offset the cost of the TV, I sold my iPad for $350. When I first bought it a year ago, I thought it would be perfect for traveling. But even with the keyboard accessory, it is extremely annoying as a blogging tool. So I rarely ever used it. I’m also trying to sell my Canon G10 digital camera… but the $350 I got for my iPad means that the TV only ended up costing me $100.
Related: Can lifestyle inflation be avoided?
Finally having a TV in my house gives me mixed emotions. I know it’s not something I need (or have needed for at least two years), but it’s nice to have it. And I can honestly say that in the few days that I’ve had it, it’s been pretty great. Watching Netflix on a screen bigger than my 15″ laptop is nice, and I can finally have people over to watch movies, or to play on my Wii.
But buying the TV also reminded me of a report I read a long time ago (2009) about luxury vs. necessity. In this report, they polled over 1,000 Americans and asked what consumer goods they considered to be a luxury, and which they considered a necessity. The report is old, and it’s polling Americans and not Canadians, but I think it’s still pretty interesting. Here are the results:
|ITEM||IS IT A NECESSITY?|
|Cable or satellite TV||23%|
I would consider all of the items above to be luxuries… but would feel extremely inconvenienced and miserable if I didn’t have a home computer, high-speed internet, and access to a phone (landline or cell). Those items are borderline necessities for my current lifestyle (obviously I wouldn’t die and my health likely wouldn’t deteriorate as a result of not having these things), but they would definitely be luxuries if my lifestyle changed for whatever reason.
So for fun, I created the same survey for you to answer! It’ll only take a few seconds, and I think it would be interesting to see the data after a few days. Note, you’ll have to scroll a bit with the survey. :)
Create your free online surveys with SurveyMonkey , the world’s leading questionnaire tool.
Author: Krystal Yee
I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.