https://cdn.steemitimages.com/DQmSrSXQuMaojWQ4u6xPJPdFqf7AEEmmGcAQfdUCvN95yCd/wants-vs-needs-24355371.jpg [Image source](https://images.app.goo.gl/fapajAB8SyUoHmTt8) ### Hello Comrades!!! ###

I bring you greetings from my side, here comes another new week which I guess is parked with a lot of activities for some of us. Not withstanding, I know we are all doing great and fabulous and I hope we are making more money 🤠.

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Guys, today, as part of my blogs on personal financial tips, I want to touch on something which is of very much importance to building our personal finances but we don't actually pay attention or considered it as a priority in developing our finances. Do you know what your wants and your needs are? which one is the most important one? and which one should you prioritize if you want to save some extra money for your future? Stick with me and let's educate ourselves to financial independence 😊

*** https://cdn.steemitimages.com/DQmbUk2FqTEcCgWUhavd9NVxssKKfcAuHKzjD32y7Q9fo2H/WantsNeeds.jpg [Image source](https://images.app.goo.gl/1Fc53Rww4Bh3gnZu5) **What are our needs?** ###

Basically, our needs are our basic needs, one can argue that "needs" are relative, that is depending on the individual, but in general sense, our needs include, food, shelter, health care, clothes, security etc. We can't do without our needs because they are the things that keep as surviving, they help us to get by everyday. We must eat to survive, so wether we like it or not some of our income must go into buying food, we need a place to lay our head, so definitely we must spend some money for shelter, all these and many more are what we should spend our income on. Mostly I will advice that, in drawing your budget, 50% of your net income should be designated to take care of your needs.

*** https://cdn.steemitimages.com/DQmP8NNY7vk7j73mo9tEudLJHfj6XcJZWjf5S8A1wJKt25H/customers-needs-and-wants.jpeg [Image source](https://images.app.goo.gl/uC6GNWsaXp84WZ6K9) **What are our wants.** ###

Sometimes we want to have a lot of fun and excitement and the more we do this, the more we spend more money and not doing these things wouldn't actually affect our lives or stop us from surviving. Not buying the most beautiful trousers in the market will not stop us from surviving, not going to the beach site to have fun, not eating the most expensive food or not buying the nicest wrist watch in town can stop us from surviving!!!. All these things are the wants in our lives which we shouldn't throw so much money to them if we are starting to build our finances. Let's minimize so much spending on things that doesn't really matter in our lives and focus on savings and also fulfilling our needs 😊. I will advise that we shouldn't spend more than 10% of our net income on our wants.

*** **Guys, thank you so for sticking through this post, I hope I have been able to draw your attention to something important to help you build a very solid financial foundation that can lead you to financial independence. Thanks for your time 😊.** *** #club5050 # **@asibi, personal financial tips** ### Gracias 🙏