Do You Know the Difference between Needs and Wants?
What’s one reason why people aren’t able to save money? They don’t know the difference between their needs and wants, resulting in too many unwanted things spilling out of your cupboards, closets, and drawers. In order to prevent their desires from controlling their thoughts, they need to differentiate between what they need and what they can do without. Here’s how to start:
1. Make a List of Your Wants and Needs
Write everything down on paper to remember and remind yourself of the things that you actually need and the things that you can live without for a time being. You need food for instance so you by bread and eggs, but do you really need two large bags of potato chips? No, you don’t so leave it on the grocery shelf. Your needs should always outweigh your wants, as you need them to survive in a world overrun by credit debt, loans, and banks.
2. Ask Yourself If You Need or Want This
When you visit a store, look at the item, and ask yourself if you want or need this. If you want this, leave it be. If you can’t get those shiny new shoes out of your head, go home to think about it for a few days. If you still want those shoes, go and buy them. Giving yourself time to think about it helps you avoid making spur of the moment decisions.
3. Pay for Your Needs
Your needs should be at the top of your list, which means you need to spend all your money on vital needs such as food and utility bills. Could you imagine a day without electricity? If you don’t want darkness to take over your life, pay your electricity bills on time instead of purchasing a new home entertainment system. Plus, it would be ironic if you bought that, but didn’t have electricity to enjoy it.
4. Know the Most Important Wants
We don’t want you to deprive yourself of your wants, as we understand that some of them might be extremely important for your smile. Enjoy your life and splurge yourself, just cut doing it every day to once a month. Moreover, save money for a year, putting it aside for a vacation. That way, you are treating yourself for a grand vacation, which is a well-deserved treat for your patience and resilience to make it through a year.
5. The Essential Things You Need to Survive
Keep in mind that you need a house to live in, sufficient amount of food and water, hygiene products, and clothing, which is not branded, but affordable. You can live without fast food, branded clothes, a new car, and a big house. You just have to toughen yourself up to say NO to your wants.
If you have succeeded in giving up your wants, we would love to hear about how you did it. So, let us know.
A Selection of Quotes
“After nourishment, shelter and companionship, stories are the thing we need most in the world.” ~ Philip Pullman
“Doing what needs to be done may not make you happy, but it will make you great.” ~ George Bernard Shaw
“Don’t give people what they want, give them what they need.” ~ Joss Whedon
“It’s never overreacting to ask for what you want and need.” ~ Amy Poehler