Strike A Right Balance Between Your Wants and Needs

It is funny sometimes to realize that most people actually tend to forget the difference between Wants and Needs, though they all can conceptually define both individual words.

Subconsciously, we think we need a new pair of shoes, but that is technically not a need, that is a want or desire for a particular object. An average person owns 2 to 4 pairs of shoes at least as a basic fulfillment of their need. Thus, planning to get another new pair of shoes explains our desire to want for a specific thing and is not particularly defined as a need in general.

One easiest way you can distinguish between Wants and Needs is to identify what fulfills the basic needs and then compare it with the extra wants & desires that aren’t so necessary for our survival.

Do you need more clarity on the conceptual difference between Wants and Needs? 

Then keep reading further to find out more.

Identify your firsthand basic needs to define your remaining wants

We sometimes mistake our desires for our basic needs, so our needs can turn into more wants if we don’t know how to handle our finances. To maintain a basic living standard in society we all need to fit into the primary criteria. 

Here’s a list of basic necessary needs that are minimum requirements for human beings to survive—

• Water
• Shelter (a basic living space)
• Clothing
• Food ( bread, fruits, vegetables, meat)
• A specific earning source to sustain

So, these are some primary needs that must be fulfilled in order to survive in a society. Moreover, if you start listing down anything else that you want apart from the basics discussed above, particularly exceeding all the points mentioned, then you can identify easily all that is your desires & wants without which you can possibly survive. 

Another significant way of understanding this concept is to question your motives before buying anything. Ask yourself this question every time you need to buy something– “ Can I be possibly alive without this object ?”

If the answer is a ‘yes’ after your personal analysis, then it is the want of your heart that you can simply live without it, for example- shoes, internet, car, etc. If the answer comes as a ‘no’, then this particular object is a part of your survival system that you cannot think of living without it at any cost, for example- food, water & air.

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Unintentional confusion between Wants and Needs

The reason why we are sometimes confused between the two is due to our lifestyle choices & perceived mentality. Our desires are shaped by social standards and we all run after them like we cannot live without fulfilling them. Human beings are created vulnerable to needs & desires, so they will go to a certain extent to get those wants fulfilled, in order to remain satisfied according to social norms. This has become the reality of the current society we live in today. 

Society highly regards people who are successful financially but will look down on people who are poor or homeless. Buying luxurious cars, houses, expensive pieces of jewelry & attires means fulfilling your social needs to meet a particular standard, however, this is not equal to fulfilling the basic survival needs to stay simply alive.

The best example to demonstrate this problem will be the internet connection that we have today, without which the current world cannot function properly. On the contrary, no one will ever die in the absence of an internet connection. The world demands the internet to make work efficient but it contributes nothing to keep you alive on earth.

We started believing subconsciously that certain social demands have become our needs for survival but that is not a true case. This mentality actually defines the desires of the heart that we wish to fulfill.

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Too many wants make you greedy while the simple needs keep you steady

As we discussed earlier, our wants are unlimited, we keep needing things every other day to keep up our living standards. We must learn to keep our level of demands in control, otherwise, we may turn into some giant greedy monster. The more frequently we run after new things, the more intense our greed becomes. Greed lets us make decisions that may lead us to sin. Have you seen those casino players? How do they stake millions of dollars to make a billion more and lose huge amounts of money all at once after losing?

How about the rich kids of billionaire business tycoons? Most of them own the world’s biggest collections of luxurious cars & jewels. Do you think they need all these ridiculously expensive things in order to be alive on this earth? Of course not!

Learn to control your expenses before you go bankrupt. Make a good budget that allows to buy you entertainment while maintaining your basic survival essentials.

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A quick comparison chart to summarize Wants and Needs:

Evaluate your budget once a month to keep your Wants and Needs in check

When we go buy more unnecessary stuff than usual, we fail to keep the right balance between our Wants and Needs. Make a checklist of the things you desire to buy and then another one that includes all the basic essentials, bills & grocery items, required for your survival. 

Analyze your budget so you can prepare to buy the most prioritized items & bills for the month, and then see how much is left to fulfill your secondary other demands. 

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Conclusion

Needs and wants have separate influences on people’s minds. If all our basic needs are met then we become confident & excited to go for the next step to chase our wants, as a part of life’s enjoyment. However, striking a good balance in spending for our needs & wants should be prioritized at any cost, so we don’t end up going bankrupt soon.

If you need to do 3 different jobs to maintain a lavish life for yourself then do it with all your heart & soul, as long as it makes you happy. But, don’t let greed overcome your good sensibility for that crazy bucks you are earning now to meet your desires. Save the extra income for the bad times that may visit you at any moment. Be financially strong with enough backups to venture into risky business that you always dreamt of doing.

All in all, do not make deals that have a strong potential to risk your basic survival. Take counseling from experts to control your finances better. And lastly, do not forget to remember the difference between what is required(needs)  and what is desired( wants). Keep reminding this fact to yourself every time you decide to purchase for unnecessary demands.

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