Needs vs. Wants

Our needs are the things we must have to sustain us day to day: food, shelter, clothing, personal care items, and in most cases safe, reliable transportation. Just about everything else can be classified as a want, although they might seem like needs: entertainment, electronics, leisure travel. The list of things we want is potentially endless. Identifying your wants and needs can be a tricky process because it requires absolute honesty with yourself. It’s easy to rationalize and justify expenses as necessities, even if they are not.