Needs And Wants

When you spend your money, what do you spend your money on? Here are some things I spend my money on:

Tickets for Movies,
Pepsi,
Gum,
Coffee,
School Supplies,
MP3 Players,
Stereos,
Headphones

Which of these items do I need? Have you heard this: "I will die if I don't get that new cell phone!" Probably, but the truth is, you won't die. A cell phone is not a want. People just say that because they want the cellphone so much that they think that their lives will never be complete without it.

Everything is divided into two sections: needs and wants. Needs are items like food, clothing, and a place to live. How about wants? Wants are items like games, MP3 players, and cell phones. Now, can you define the meaning of needs and wants? A need is something you need in order to live. On the other hand, a want is something you can survive without.

So, when you spend your money, what do you buy? Do you buy needs or wants? If you usually buy wants, what good does the "wants" do? Does it benefit you in any way? Maybe, but your needs probably help you a lot more.

However, wants could become needs, too! Weird, huh? If you live far from school, a bicycle would be a good transportation, even thought it's a want (you don't really need it in order to live). But, hey, you need it, right?

So, thinking as a good money manager, you need a clear image of needs and wants, and how to divide your money so you can make most out of what you already have.

I'm not saying the wants are bad and you shouldn't buy them, just think about it

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