Most of my readers are adults, therefore, most of us are actively adulting, paying bills, working jobs or running businesses, raising children, paying taxes, falling in and out of love etc. A huge part of adulting is prioritization, what do you prioritize? What do you consider a “want” versus what you consider a “need?”
Below I’m going to list some of my “needs” versus my “wants.”
|Bills (light bill, car note, rent, student loans etc.) paid||New shoes, new clothes, new purses, new video games etc.|
|Financial stability||Frequent nights out on the town|
|Personal growth: mentally, physically, financially, spiritually & emotionally||Weed or liquor|
|Frequent and adequate car maintenance (if applicable)||Jewelry & designer “drip”|
|Monetary investments in learning new skills||Vacations|
Some of you may agree with the list above and some of you may not, either way, I don’t care. Moving on, when I think of needs and wants, I view them from their elementary definition of just that. You need to make sure your bills are paid, you don’t need new video games or a plethora of new shoes – when and only when, it’s not in your budget.
However, I will say, even if you can afford all the materialistic luxuries you desire it doesn’t mean that you need them. Furthermore, if money isn’t an issue, what is your spend to invest ratio? If you have extra money to spend, invest a good bulk of it – don’t just spend it all.
Let’s move on. Financial stability is a need for me, I can’t just want it, I need it. Financial security is healthy, therefore, I’d be willing to sacrifice expensive nights out for frugal nights in the house. Personal growth in every aspect is essential as well but, weed or liquor is not, for me that is. My car is a bill and one that I maintain. A car is essential for me, thus keeping it properly maintained is a need but, jewelry and the Balenciaga’s that look like socks are not a priority of mine. Investing in myself is a need but, vacations are secondary. Vacations are healthy but, not essential if all other parameters are not yet met.
Fill out your own needs vs. wants list. It doesn’t have to look like mine but, be leery of placing some of your wants under the needs tabs. If you can’t decipher clearly between what you want and what you need, in my opinion, you lack control. You also lack a full understanding of frugality. Frugality doesn’t mean never treating yourself but you can’t treat yourself all the time because then it’s not a “treat,” it becomes what you may view as a necessity. Your life can look completely different six months from now, if you begin to master your needs over your wants. Take the step, today!
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