Needs vs. Wants: What's the difference
Discover the difference between needs and wants with this simple guide for teens! đď¸ Learn how to prioritize whatâs essential, like food and school supplies, while still saving for the fun stuff, like new clothes or gadgets.
Letâs talk about something super important when it comes to moneyâknowing the difference between needs and wants.
A need is something you absolutely must have to live. In other words, you cannot live without it. Think of things like food, water, clothes, and a place to live. For example, you need sneakers to go to school, but do you need those $200 limited-edition ones? Probably not.
Needs help you survive and keep life running smoothly.
A want, on the other hand, is something thatâs nice to have but isnât essential. Itâs the extra stuff that makes life fun but isnât necessary. Like that fancy new gaming console or a latte from your favorite cafĂŠ.
Wants are awesome, but you can live without them.
Why does this matter? Because if you spend all your money on wants, you might not have enough left for the things you really need.
Key takeaway
Next time youâre about to buy something, just ask yourself: âDo I need this, or do I just want it?â Itâs a game-changer! đĄ