We have all done it! Whether it be for grocery items, or personal care items. We have gone shopping and have come home to discover we already have the same items. Why do we do this? Well, the main reason we do this is because we didn’t go over our inventory before we left the house.

Recently, I was making my list about what I was going to buy at my local pharmacy: shampoo, deep conditioner and condition etc. Then I had a thought to inspect what I have under my sink, I pulled out bottles of shampoo and conditioner that weren’t even finished yet. So why then was I off to buy a new thing when I wasn’t finished the old thing. I will be honest with you after discovering my stash of shampoo and conditioner, I had to re-categorize shampoo and conditioner as a want, and not a need. I no longer needed to buy them from the store because they were sitting right in the bathroom. Needless to say I didn’t run to the pharmacy but instead I used what I had.

A lot of times we claim we need certain things: we need a vacation, we need a new pair of shoes, we need a new jacket. While we have valid needs a lot of times we say we need something and it really is a want. It’s okay to have a want but just call it that so it won’t screw up your budget.

A Need

So what exactly is a need. A need is something that you must have to sustain life. This included food. shelter, and clothing on a basic level. In life things deteriorate. Examples of these are vehicles, furniture, a broiler, or a roof. These things will eventually have to be replaced. Planning for an need in advance is wise: so when the need arises you will be prepared. Let me give you an example, let’s say you will need to replace your roof in the upcoming year and it will take around $10,000. Saving a $1,000 a month for a year will help you replace your roof without disrupting your everyday life. If you are thinking, I don’t think I can save a $1,000 a month, I will go over budgeting basics in upcoming blogs.

A Want

A want is something that is not a need. It is usually a preference. Here is an example, I am hungry and I have food at home that I can eat but I want to eat out. My desire to eat out is a preference, I do not need to eat out. I want to: it could be more convenient, it may taste better or I have a craving for a certain type of food that I may not have at home. In this example, my want (purchasing food) will be more expensive because there is free food at home. Don’t worry, I am not here to tell you that you can never enjoy your wants again. What I want you to do is call it that, if it is a want that’s okay. There are ways to enjoy your wants, met your needs, and stick to the budget.

Next time you are headed out the door to make a purchase, I want you to consider if it is a want or a need, and if you find that it is a want just call it that, Why is it important for you to distinguish your wants from your needs? If you don’t correctly identify these categories you may sabotage your long-term success and goals for things that weren’t necessary for the moment.

Can you distinguish your wants from your needs? Make a comment below.

Speak To You Soon,

Gelayne