What Makes Your Wants & Needs Different From Your Desires & Indulgences?
The Propensity To Spend
Spending is giving one's monetary or non-monetary valuables to take care of their needs, their wants, cravings satisfaction or even indulgences. However, while setting a scale of preference a lot of people hardly include the amount of money they spend on their indulgences and this is because they deem these indulgences to be minor.
They calculate the amount of money they spend per unit on these indulgences, and it hardly ever carries any weight on one's financial standings. Now, an indulgence can be called a desire, not necessarily what we would deem as a need or a want.
From my experience, I have come to see needs as a necessity, while a want is that extra utility you get to enjoy for having more necessities. In fact, I occasionally see wants as needs which helps one to derive extra satisfaction. For example, a car might be a need because it caters for a necessity of transportation.
Any type of car would cater for the need of transportation, but going further to actually select a Mercedes GLE over a Peugeot is what differentiates a need from a want.
The both of them can cater for a particular problem going forward to different further is where the difference comes in. In my experience, a choice narrows down the essence and the meaning to the two concepts of economics and this is why a belief that a person who has multiple choices no longer has needs but wants, in essence, desires here resembles wants.
Desires for example is craving one's fetish or fantasy beyond their financial capabilities, getting married for example can be a need, a want and also a desire, it depends on the perspectives which gives it its meaning.
Need, Want & Desires
A person who wishes to marry the most beautiful girl in the world is only having a desire, this is because, they do not need to actually marry the most beautiful girl in the world go fulfill the concept of marital companionship, in fact these desires aren't built on real-time possibilities apart from the fact that having money can make one's desire a possibility.
While a desire can be possible to actualize with the possibilities of unbelievable resources and means, it isn't always realistic because of the insatiability of humans and due to the Financial capabilities of the people who are actually holding these desires. This is to say that desires might not really be born out of pure logic, plus one's resources does not limit their abilities to actually desire.
Anyone who is capable of mental construct can actually form desires based on their fetish or their fantasy. This is to say that desires are seldom beyond one's Financial but not always, because if a person can pay for their desires, it makes it is no longer a desire.
Feeding Low Budget Indulgences
In life, indulgences can be low budget desires, full-fledged desires are those we can actually not afford but crave their essence in our lives. We often do not see indulgences as income killers and this can affect a person's marginal propensity to save as well as consume.
An average Nigerian for example spends more money on internet subscription more than they do on food or clothing, which are essentials to the human existence. The reason is that that inkling to be on the internet is not longer a want or a desire, but a need.
Being on the internet is actually affordable, but it isn't cheap. It's affordable in the sense that the entry fee is minimal, but the consistency required to be on the internet is what makes it rather expensive, irrespective of the fact that it is originally affordable.
Social Media & Internet Fee
Being on social media for many has become a necessity. Instagram and TikTok for example consumes a lot of internet subscription, but it's affordable to even people who are limited and low in resources, but why is this?
This is because they don't think the money they use in buying internet time for Instagram will make them rich, another thing is, they buy per unit rather than in bulk making it difficult for them to see how much they're actually spending in real-time.
Indulgences are one of the reasons why people who set resolutions, are intentional and cognizant of their income and expenditures still ends up not growing their finances or meet up with their metrics or scales, when they do their calculations either monthly, quarterly or even yearly. But can we escape these indulgences? I'll be talking about this, another time.
Interested in some more of my works?
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My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
@Josediccus, your brother-in-pen & heart
I'm hoping to reach more people who are broken at heart and spirit, so share on any platform or reblog
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