How To Differentiate WANTS Vs. NEEDS (In A Budget!)

Описание: Understand your wants and needs is important when creating a budget.

In this video, I defined both wants and needs, and also gave a couple of examples.

Wants definition: things we desire that we may or may not be able to obtain
Examples: Luxury cars, luxury clothes, vacations and others
Needs definition: something needed to survive
Examples: Home, food, water.
Certain things also have a want factor. An example is you only make $20,000 a year but you want a $3,000 a month apartment, you need a home but not that expensive.

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DISCLAIMER - Please note that I am not a financial advisor.
#budget #wants #needs #debtfree