Another Irish Proverb in honor of St Patricks Day which is tomorrow! This one reminds us that being frugal is a matter of choices. Many times we have the cash or income to buy nice things - sometimes even extravagant things, but do we really need them? Sometimes not.
Recently, a friend of mine bought a brand new shiny car that has all the bells and whistles. I'm envious that she can enjoy such a nice thing, but I'll get to ride in it too occasionally. But the thing is that its too nice. She doesn't want to drive it to work because the parking lot is full of clients who might give her new car door dings. So it sits in the garage, while she drives her old car. She's fortunate in not having to sell the old car to get the new car, but not everyone is.
I have another friend who NEEDS a new car because the car they have is falling apart like a bucket of bolts and nuts. It makes strange noise and lurches, and probably isn't safe to drive fast on the highway. Shopping for another car apparently is happening, but I don't think a brand new car is among those is consideration. This may be a smart decision because if too much of the budget is spent on the car, there might have to be other financial sacrifices made in the household budget.
So the point is, if you have something you need and use - be content with it rather than thinking you need to get the bigger better newer faster model. If you buy the new thing, it may have more costs that just the purchase price.