WANTS VS NEEDS

     Knowing the difference between these two concepts will help your finances and know exactly how you spend your money by asking yourself whenever you want to buy something “is this really my WANTS or NEEDS”

NEED is a “must to”, it is something you have to have. Basically there are four basic needs for survival which are good food, clothing, shelter, basic health. Food is a must for survival, you might not need a lot of food but you must eat something, wear something, and be sheltered somewhere. NEEDS ARE NECESSITY.

WANT otherwise is something you would like to have, not that without them you are nothing, but something it will be a good thing to have, extra of whatever you have before is your  want, they are not absolutely necessary for you to have. Example: some people refer music as a need, because they believe they can’t do without it, yes that may be true but you don’t need music to survive. Try 3 days without music and 3 days without food.

NOW, confusion may arise because I generalized the word “food”→any substance… but, note some food can be a WANT also. You need all these classes of food e.g. protein, carbohydrate, vitamin etc. for growth and healthy body. Ice cream, yogurt, meat pie etc. are your wants, they may do your body good, but you don’t need them for survival therefore they are wants.

IN CONCLUSION

NEEDS:                something you have to have

WANTS:               something you would like to have

In actuality you just need four things

• ·         A roof over your head
• ·         Enough food and water
• ·         Basic health care
• ·         Clothing

Everything apart from those things listed above are your wants- a big house, Gucci cloth, fancy food, a new car, latest phones etc.

Advice, life is meant to be lived, not survived. Treat yourself to some wants along the way, but do so when you can best afford to, and enjoy those wants as the extras that they are. Be careful when satisfying your wants.