🅦🅐🅝🅣🅢 🅥🅢 🅝🅔🅔🅓🅢
Everybody’s wants and needs can vary, but there’s a big difference between the two when it comes to what you spend your money on. For instance, eating is a necessity and something you need to spend money on. However, it comes down to do you need to get take-out on the way home from work when you have food at home? The answer is no. But if you feel like you can justify the purchase, you could see it as you need to eat anyway, so why not do it. You also need a cellphone because times have changed and not many people have a landline to use anymore. But you don’t need the latest iPhone model, which is an $800 upgrade, and honestly, you may not even need a smartphone. When it comes down to it, you may realize you don’t even need a data plan – but since you need a cellphone, it is easy to convince yourself to buy the best one that has the priciest plan and see what money can buy. In these cases, you need the item in question — food and phone but you’re choosing to spend more than you have to. It is important to be honest with yourself about what you want, what you need, and the difference between the two terms.
Ⓣⓘⓟⓢ ⓣⓞ Ⓢⓔⓟⓐⓡⓐⓣⓔ
Now, I am not saying there’s anything wrong with spending money on wants. I would even argue that paying for wants is an important part of life. If life were only about working and paying bills, then it wouldn’t be living a good life. Though, the problem arises when people merge their wants with their needs to the point where their financial goals aren’t achieved because of their spending habits. When we spend money on wants without thinking if they’re a priority, we often shortchange ourselves in the areas of our lives that matter – saving money for college, emergencies, or retirement savings. If you’re struggling to separate wants from needs, some tips are listed to aid you in the right direction.
Ⓣⓘⓟ #①: Ⓦⓐⓝⓣⓢ Ⓣⓗⓐⓣ Ⓐⓓⓓ Ⓥⓐⓛⓤⓔ
If you see that you’re spending crazy amounts of money and having a difficult time separating your wants from needs, it is smart to see where your money is going. Do the things you purchase add any real value to your life or are they for temporary satisfaction? While spending money on wants is important in living a good life, it comes down to which are more important to us than others – and if you take a minute to inspect where your money is going, you could see that many purchases aren’t worth it. By doing so, you can see which ones add value to your life and toss the wants you can live without.
Ⓣⓘⓟ #②: Ⓣⓡⓐⓓⓔ Ⓐⓦⓐⓨ Ⓦⓐⓝⓣⓢ
Depending on what the “want” is, you may be able to come up with a strategy that lets you save money instead. This is a good plan to try when you’re spending on something out of habit or out of convenience. For example: If you have an expensive cable bill out of routine but never watch simply all the channels, you may be able to choose a cheaper package and save money without even noticing. It’s important to have wants when maintaining a good life, but you should only spend when you are truly benefiting yourself. You’ll realize you get more out of your hard-earned dollars once you cut out the unnecessary purchases.