Why is it important to be able to decide if an item is a NEED or a WANT?
wa
a. Needs are worth spending money on, but you should never spend on a want
b. Needs can be very expensive, but wants are usually far less expensive so you
don't need to keep track of them
c. You cannot create a budget that has both needs and wants included -- you
need them each in a separate budget
d. When you budget, you should make sure all your needs are met first, then you
can decide to spend on wants