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Distinction between Needs and wants
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[QUOTE="General01, post: 219991, member: 60854"] This is a very interesting thread. I commend your efforts in putting this up for us . The truth about this whole subject is, Even though they are closely connected, knowing their differences is pivotal in defining the financial life of an individual and subsequently prioritizing of one's budget when it comes to spending. Needs and want are two different things and their differences should be taken with outmost importance. Need differs from want in the sense that, want is not pressing as compared to need. What you want you could survive even without it ,but on the other hand what you need i is required in order to ensure smooth run of your daily endeavors. Their differences plays a vital role in defining how we spend our incomes because, once we've clearly identified our needs and wants. We then carve our spending to the requisite level. Dependent on the size of our income and the condition we are predisposed to. We take care of needs first because that is what if it is not there it could alter the normal run of our daily activities. Want on the other hand is not at the top of the priority That is the basic difference between he two interrelated terms [/QUOTE]
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