Wants vs Needs: What You Want But Can’t Have

By in Spend

It’s not uncommon to walk through your local electronic or furniture store and want something.  Even the best of money managers have wants.  Well, maybe some don’t allow themselves to walk into the electronics store if they don’t have the money to purchase something.  But most of us like to go into the Apple store to see the latest in cutting edge technology and have a little want time.

As wise money managers, we know that if we don’t have the cash, we can’t get it and a credit card is definitely not an option if there isn’t a means to pay it back the same month.  So, what do you do?  Let that want float off into no where and be forgotten forever?

Create a want list and use cash

Nah.  Why not create a want list?  If you don’t have any cash, add it to the want list and just want away.  Some wants will be more important than other wants.  Some wants might even fall off the list after time.  And wouldn’t that be a good thing?  Maybe it wasn’t that important of a want to begin with.  Time will tell.

If you don’t have a want list you might just dwindle away extra money that could be saved for those wants.  And then you would just keep on wanting, but not have anyway to pay for it.  One day, perhaps some day, you’ll do something really great like pay off all your debt and have an opportunity to celebrate by picking out something on the want list.  And won’t it be rewarding when you pay for your want with cash?

Do you have a want list?

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About Jason

Jason started blogging in 2009 when he created One Money Design. Since then it has grown into a group of writers with unique personalities and a common goal of helping people on the journey to true financial freedom. Jason is an IT project manager by day, but you’ll find him blogging about personal finance and exploring web entrepreneurship late at night and the early hours of the morning. He’s also actively involved in a financial coaching ministry in his community where he shares principles of biblical stewardship and helps people learn to manage their money wisely. Jason enjoys spending time with his wonderful wife and two awesome children and lives in north Dallas. Twitter | Facebook | +Jason Price
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  • threadbndr

    I have a want list – in fact I have a couple of them.

    There’s one for the house (new stove, refinish the hardwood floor, paint the master bedroom…..)

    And there’s one for me (new walking shoes, dues for needlework group, book on shetland lace knitting…..)

    There’s also a list of books to read, movies to add to my netflick’s queue. There are even lists of lists LOL.

    If you don’t keep a list, how do you save up for things or go to the library/bookstore and not just wander around in circles?

    • Jason Price

      Thanks for your comment! I love it! It’s so important to keep the want list. Otherwise, as you say, how do you save up for your wants? When that extra money comes in, maybe a bonus or gift, you can allocate some of the money to a want.

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