The Difference Between Necessities and Wants
Knowing the difference between
necessities and wants
is among the most
fundamental of all fundamentals.
Understanding needs and desires is a prerequisite for setting successful and attainable financial goals, prioritizing your spending, and creating a budget.
Needs are things you require to survive. These include necessities like clothing, food, and housing. The definition of needs can be enlarged to include items like utilities so that you have heat for your house, and even debt payments, if you have any.
Wants are things that would be good to possess. They are not necessities for your survival.
When you go above the bare minimum to satisfy your requirements, such as by purchasing a larger home than you can afford, needs can occasionally evolve into wants.
Examine each expense carefully to distinguish between those that are wants and those that are actually needs.
Remember to approach
savings and retirement
as needs.
Remember to approach
savings and retirement
as needs.
Prioritizing savings
before things like cable TV and eating out.
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Gold and Silver Stacking is not for everyone.
Do your own research!
Gold and Silver Stacking is not for everyone.
Do your own research!
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@silversaver888
I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos and precious metals share my personal opinion, experiences, and general information on cryptos and precious metals.All photos, gif, and video were taken by me with my iPhone, unless specified.
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