{"id":1280,"date":"2022-10-24T13:44:33","date_gmt":"2022-10-24T10:44:33","guid":{"rendered":"http:\/\/www.woli.io\/it\/?p=1280"},"modified":"2022-11-18T18:02:12","modified_gmt":"2022-11-18T16:02:12","slug":"spending-based-on-my-needs-and-desires-priorities-and-options","status":"publish","type":"post","link":"https:\/\/www.woli.io\/it\/blog\/spending-based-on-my-needs-and-desires-priorities-and-options\/","title":{"rendered":"Spending based on my needs and desires &#8211; Priorities and options"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Although you now know how to separate your <\/span><b>needs <\/b><span style=\"font-weight: 400;\">from your <\/span><b>desires<\/b><span style=\"font-weight: 400;\">, what we have not yet mentioned is how these needs and desires are linked to money management. Every financial transaction is an <\/span><b>option<\/b><span style=\"font-weight: 400;\">. An important financial skill that helps you make the best possible choices to manage your money in the best way is to separate your needs from your desires and <\/span><b>prioritize <\/b><span style=\"font-weight: 400;\">them based on your income.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the world of economics, needs and desires are treated in the exact same way as you understand them in your own life. A need is necessary for survival, while a desire is something you want to have in your possession without being necessary for your survival. This possiblysatisfies your aesthetics, improves the quality of your life, creates the conditions to belong to a group, etc.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Economics considers your \u201cneeds\u201d and &#8220;wants&#8221; as possible <\/span><b>expenses<\/b><span style=\"font-weight: 400;\">, so it puts you in a process of finding and managing money and resources. For example, water is an extremely important need. The management of this important resource has two parameters. One is that your family should make sure to pay their water bill. The other is that all its members should be trained in the proper management of water as a resource so that neither water nor money is wasted. How each family chooses to manage water has to do with its culture, financial comfort, water needs (depending on the number of its members), etc.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But how do we make the best financial choices? In other words, how will you be able to decide which of your needs or wants are worth meeting each time? Economists propose a method called a <\/span><b>preference scale<\/b><span style=\"font-weight: 400;\">, which is nothing more than a list, that is, a list of your desires and needs. By making a record of them and trying to put them in order of importance month by month, you begin to shed light on which of them is important to fulfill. You start from the most necessary and move on to the least important until your money is exhausted or all your needs and desires are met, if you have enough money for them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The above method, as we will see, is also one of the main stages of our <\/span><b>budgeting<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although you now know how to separate your needs from your desires, what we have not yet mentioned is how these needs and desires are linked to money management. Every financial transaction is an option. An important financial skill that helps you make the best possible choices to manage your money in the best way [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1277,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[77,15],"class_list":["post-1280","post","type-post","status-publish","has-post-thumbnail","hentry","category-saving_spending-3","category-teens"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spending based on my needs and desires - Priorities and options - woli.io italy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.woli.io\/it\/en\/blog\/spending-based-on-my-needs-and-desires-priorities-and-options\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spending based on my needs and desires - Priorities and options - woli.io italy\" \/>\n<meta property=\"og:description\" content=\"Although you now know how to separate your needs from your desires, what we have not yet mentioned is how these needs and desires are linked to money management. 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