I Need vs. I want

One key way to ensure a successful budget:

Recognize there is a difference between “I need” and “I want”. Stop, make a list of your needs and wants. Then go back and review your “needs”, are they really “needs” or just “wants” disguised as “needs” by our emotions?

For example

I need that new $20,000 car because mine broke down.  No I want that $20,000 car and my broken down one is an excuse to overspend.  Yes, I need a new car but one that fits in my budget not one that I fell in love with the minute I saw it 🙂  Taking out the emotion and recognizing what is a need and what is a want will help ensure successful budgeting.

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