Knowing your needs and wants; a step to financial freedom

Most times people do not know how to prioritize when it comes to spending and that is why saving money and achieving financial independence is hard for most of us. The world offers us a variety of goods and services ranging from stylish bags and purses to designer clothing; from elegant accessories to wonderful kitchen utensils but how much of these do we need. Here is a guide to knowing your wants and needs before spending:

Firstly, you should be able to distinguish between your basic needs and wants. This might seem simply irrelevant as most us know what our needs are but, are we sure that we actually know the difference between the two. Secondly, consumerism will always be existence as a result, companies and advertisers will always be there to bring you new goods and services to grab your attention. However, it is important to have self control and avoid impulse purchasing of goods and services. That way you will be able to buy what you need and save money rather than using it to buy things based on admiration and not need.

By Muzhinga lotus Kankinda


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