1.1.4 Summary of key messages

• Needs are things that are essential for life. Wants are non-essential items that we would like to have.
• It's important to differentiate between needs and wants and to balance them in your life.
• Set spending priorities so you will have money for the things you really need and want.
• Many factors influence how you spend, including emotions, habits and peer pressure. Watch how these different factors affect your spending decisions so you can get control of them.

At the end of the module, you will find an Action plan. This is a tool that you can use to track your progress and take the next steps to manage your income and expenses successfully in the future. Use the action plan as a roadmap for financial action!