Between needs and wants

While shopping to equip our new office , we tried our best to buy only what was needed. It was not easy to distinguish between the two..how much time do you spend trying to decide between wants and needs...
Why are you reading this blog, is it a want or a need? Why am I writing this , to fulfill a want or a need???

How many times have you heard (or for that matter said yourself) "I absolutely need (fill in the blank)" when in reality the meaning was "I really want (fill in the blank)?" I can't live without those shoes...I will die if I can't have that ring...I simply have to have that car...the list can go on and on. Please don't get me wrong. These are phrases that we all use. That is why it's important to step back and remember that wants and needs are not the same.

Here is a list. Take a few moments to jot down what is a need and what is a want.

1. shoes

2. designer suit

3. water

4. large apartment

5. bed

6. ice-cream

7. car

8. entertainment center

9. club membership

10. lunch

11. concert tickets

12. trip to Hawaii

13. medicine

14. necklace

15. computer

16. daily espresso

17. cellular phone

18. golf clubs

19. furnishings

Unfortunately, the answers to these questions are not completely black and white. What may be a want for one person may be a necessity for another person. For example, let's take a look at a computer. If you make your livelihood on the computer, then a computer is a necessity for you. If you only use a computer to play the latest online games, then it isn't. Knowing this, we can still make some pretty good guesses as to what are wants and what are needs from the above list for most people. Shoes (and clothing in general), water, bed, car, lunch, medicine and furnishings are good bets to be needs. Now that doesn't mean that the latest model, 4 wheel drive sport utility vehicle with all the extras counts as a need for most people, but basic transportation to make a living does.

A large apartment, computer and cellular phone may or may not qualify as a need depending on your particular circumstances while a designer suit, ice-cream, entertainment center, club membership, concert tickets, trip to Hawaii, necklace, daily espresso and golf clubs all probably fall into the want section.

If you can take the time to start being honest with yourself, you will find that a lot of the things which you assumed were an absolute necessity until now are in reality nothing more than wants. Once you distinguish between the two and look at these issues objectively, you have placed yourself in the position to live within your means by simply asking yourself whether or not an item or service you are about to purchase is a need or merely a want.

Copyright (c) 2004, by jeffrey strain