Have you ever gone to department store intending to purchase a few items and left with more than you needed? At the check-out you looked at your receipt wondering what the heck did you buy? At the time your purchases seemed like a necessity, right? You used your 20% off coupon, so you feel like you saved money on the purchase. We have all done it, for some people shopping is therapeutic and for other’s it’s just a bad decision. In either case the items were not a necessity; however, we make ourselves feel better by believing that we needed to make the purchase.
A google search shows the meaning of A Want as a desire to possess or do (something); wish for. A Need is to require (something) because it is essential or very important rather than just desirable. There are only a few basic things that we need to survive.
- We need air to breathe.
- We need food to nourish our bodies.
- We need water, to hydrate our bodies.
- We need shelter from the environment
- We need clothing to cover our bodies.
The problem arises when we want more than the basics. Sometimes we want more than we can afford to pay. Why do we choose to purchase items that are over and above our basic needs? Good question, let’s discuss a couple of factors that contribute to the blurry line that most people draw between their needs and wants.
Many people have a desire for an item that is so great they begin to justify the need. Others feel a sense of entitlement to the better things in life because they have reached a certain status. Have you ever heard of the saying “Keeping Up with the Jones’”? As adults we like to compare what we have with our friends, family and neighbors, this type of thinking can get you into trouble if you are not content with your life. If you can afford to pay for your wants without sacrificing a necessity then I say have fun. However, if you are living off of your credit cards stop now and ask for help.
©2018 by Felicia V. Petit-Frere. All Rights Reserved. Felicia V Petit-Frere, MBA is a financial coach, founder and CEO of Windsong Financial coaching LLC (WindsongFC.com) where we help you become financially fit one step at a time. Join me in a facebook group set up just for you, The Smart Money Maker, we offer free challenges, webinars and do it yourself or group programs.