Personal Finance Tip #4: Needs v. Wants
June 20, 2008 by Miranda Marquit
Filed under B5 Media Business Channel, Debt Management, Family finances, Money advice, Personal Finance
This personal finance tip comes from Jen over at Everyday Networker:
Understand the difference between a want and a need. Most things you think you need…you don’t!
I like this. How many times do we say that we “need” something? But really, in our society, we have turned many wants (cable TV, a house with an extra room, designer clothes, a smart phone, etc., etc., etc.) into “needs.”
It is important to recognize that many of these things that we think we need are really things that we want.
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I like this one too! I am trying to be more mindful of the language I use and to try to avoid saying that I “need” something when in fact I just WANT it.
That’s a great idea: To change your language. When you think about what you are saying, you are more likely to change your habits.