1.1 Needs and Wants

Introduction

A well-dressed couple compares different needs, such as a new roof versus a vacation.

It's easy to say "I need"— but do we really need that thing? Often, we don't distinguish between the things we want and the things we really need. As a result, we spend without thinking on short-term wants and then find that we don't have enough to buy the necessities or reach our long-term goals.

In this section you will learn:

  • how to tell the difference between needs and wants
  • how to set spending priorities
  • what your usual spending habits are.
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