Distinguishing Between Needs vs. Wants
Distinguishing between needs vs. wants can be challenging it is inevitable that we always want more. It’s a distinguishable trait of humans; we are never satisfied with what we need to survive, we want to be living in the luxuries of life. Distinguishing between needs vs. wants is tough.
This is a commonly debated topic in society – two people could argue for hours about products distinguishing between needs vs. wants. Regardless of if we really need it, we’ll buy it anyways to appease ourselves. Having this mindset; that we can buy whatever we want when we want it, is a fast track to an empty wallet. Self control is important, and if you struggle distinguishing between needs vs. wants, it can have a detrimental affect on your budget.
Food is a great example of distinguishing between needs vs. wants, we all need food. We want the food to be prepared for us in a restaurant because who wants to make dinner every night after a long day at work. Your wallet wants you to! Eating out and going out for drinks frequently has a large strain on your wallet.
Say you eat out once or twice a week and spend about $20 on your meal and a drink. That’s at least $160 a month and $2,080 a year! Even if it averages to just one night a week, that’s still over a thousand dollars that you could have stashed away in a savings account!
Clothing is another great example of distinguishing between needs vs. wants. No one is expecting you to make your clothes at home like you would meals, but kudos to you if you can. You should just be a little smarter when it comes to shopping. Change your mindset to help you with distinguishing between needs vs. wants– you don’t really need those Jimmy Choo wedges or those Guess jeans. You’ll do just fine with a pair from last season on the sale rack. Remember to ask yourself if new clothes is a need or a want, and your wallet will thank you.
Be more self-sufficient and exercise your self-control. No, I don’t need to go out to dinner, I can buckle down and make myself a great home-made dish. No, I don’t need to buy a new wardrobe every season to keep up with the trends, I can rock last year’s styles like there’s no tomorrow.
It’s difficult to get ourselves to think in the way of distinguishing between needs vs. wants after we’ve been buying whatever we want when we want for so long. It requires us to be harsh with ourselves, to learn how to say no when we really want to say yes. In a world where advertisement is everywhere we look, where there are people telling us what to buy on every corner, this harshness is essential to our financial survival.