067 62902 Discussions Discussion: Wants vs. Needs This is a graded discussion: 1

Question

067 62902 Discussions Discussion: Wants vs. Needs This is a graded discussion: 10 points possible due Jul 8 Discussion: Wants vs. Needs ordan Harless 55 3s This week we read about deciphering wants vs. needs. It's difficult figure out our spending habits if we don't regularly evaluate wants vs. needs. Please discuss your spending habits in the discussion. Do you spend a lot of money on wants? If so, what are they? Fast food, eating out. getting nails or hair done? If you spend mostly on necessities, how do you manage to do that? Do you have specific savings goals, or a strict budget? Initial responses should be 300-500 words, please response to one classmate for full credit. Replies to classmates should be 100-200 words. Search entries or author Unread h Reply Replies are only visible to those who have posted at least one reply. Previous Next bO 0

Explanation / Answer

Spending habit should depend on the evaluation of wants vs. needs; sometimes wants get priority for spending and sometimes needs. But making a balance between wants and needs is very important for staying in the budget.

My spending habit mostly depends on such balancing. In the process of doing so I always prefer my needs first before my wants; such as grocery purchase, which indicates a need, would be done first before spending on movie, which indicates a want. Since I am very much calculative, my needs are always in safer side; it means I don’t face any stage of borrowing. This is to be remembered that keeping wants in control is a good spending habit; a person can survive without wants but can’t survive without needs; therefore, spending on needs would get much priority than spending on wants.

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