This personal finance tip comes from Jen over at Everyday Networker:
Understand the difference between a want and a need. Most things you think you need…you don’t!
I like this. How many times do we say that we “need” something? But really, in our society, we have turned many wants (cable TV, a house with an extra room, designer clothes, a smart phone, etc., etc., etc.) into “needs.”
It is important to recognize that many of these things that we think we need are really things that we want.
This post is part of the b5media Business Channel Great Blog Off!  Find out …read more

Every now and again, it helps to get back to the personal finance basics. Yesterday we took a look at living within your means. In order to do this, another basic personal finance lesson is necessary: understanding the differences between needs and wants.
Needs
It seems fairly straightforward, but many people confuse wants with needs. Needs are things that are necessary for survival. Some sort of shelter, food and clothing are needs. These are things that you must have to survive. Usually with the form of shelter comes bills like heating and water. These are bills that you must pay, and are …read more

One of the biggest obstacles to yielding wealth today is a propensity by many to live beyond your means. Yielding wealth requires that you live within your means. PowerWealth.com offers this rather enlightening and interesting look at the differences between the two:

It is vital that you understand the difference, and even more vital that you choose to live within your means. This may mean sacrifices of things that you might have come to think that you need. My husband thought he needed cable. But when we went through a rough patch after our marriage, he discovered that he didn’t, when …read more