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You “NEED” A Car But You “WANT” A BMW

You “NEED” A Car But You “WANT” A BMW

Posted on June 28, 2020May 26, 2021 by Finance Infopedia

If you want to live a happy life, the one and the only way is to stop proving others and start living for yourself.

It is very bitter to accept, but the truth is, most of your life you are living for the banks and for the corporates but not for yourself and for your family.

Need vs Want

Our job is to be here for you. So when you ask us questions, we listen. Then we go out and try and shake some of the foggy off of that thing. Simple as that….

To start living for yourself, you need to understand the basic difference between these two terms “NEED” and “WANT”. Well, sometimes differentiating between “NEED” and “WANT” is quite subjective.

Things that are required to survive and to meet the basic requirements come under the “NEED” category. Whereas those which we think can bring more happiness, joy, pleasure and status will come under the “WANT” category.

———–

To put some examples

  • You need a car to travel, but you want a BMW
  • You need a smartphone to communicate and access information very easily, but you want an I phone
  • You need comfortable clothes to wear, but you want to wear only branded clothes
  • You need to send your kid to a good school, but you want to send him to the best school in the town

———–

  • The simple formula to lead a happy life is to have fewer items in your “WANT” list
  • The less you have in your want list, the less money you need to make
  • The less money you need to make, the less time you need to work
  • The less time you need to work, the more time you will have to live for yourself and for your family

————

This world has become so materialistic, forcing you to follow the herd. Media is bombarding with so many things which really are not required in your life. Still, they are successful in creating a false impression in each and every one among us. Being detached from such a materialistic world has become almost impossible and most of us are falling into that trap. I always think that addiction to over-consumption and materialism is the most common disease that is affecting the financial health of most of the family living in this modern world. The whole aim of all the corporate advertisements is to create a ” I WANT THAT” feel in your mind.  Corporates are successful in creating that false impression that owning their products or services makes your life happy and comfortable. But the truth is really something else.

I still remember the day I bought my first mobile phone and how much happy I was at that time. But, that happiness didn’t last too long. A few years ago, I realized that owning a Blackberry is a status symbol, as most of corporate and business people used to carry that phone. The day I bought my Blackberry, I too felt like one among them.  Then again, after a few weeks, my Blackberry failed to continuously deliver happiness in my life, as it slowly became one of all other materialistic possessions I had at that time.

Slowly, even though a bit late, I realized that all these materialistic possessions I had will never ever bring happiness into my life. In fact, they are gonna make my life miserable.

You need to understand that to buy things that are in your “WANT” list,  you are not only just paying the money that it costs. You are also paying the time you have taken out of your life to earn that money. You are buying something by giving away the limited time you have in your life, that too for a product which is really not required and will never last forever.

Conclusion

So next time when you plan to buy something, just wait, think about it and make sure whether you really “NEED” it or “WANT” it. Please stop paying the limited time you have in your life to these corporates and banks.

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Author
Finance Infopedia

Hai,

My name is Ashlin Joby Thekkan. Living in Kerala in India (also known as God’s own country). Over the last 10 years, I have read and researched a lot on topics like personal finance management, equity investing etc. Now I can proudly say that all my efforts have helped me to gain knowledge and expertise in the field of equity investment and personal finance management.

I realized that the level of financial literacy among people, even among those who are well educated is very low. The moment I realized my passion for teaching personal finance management and investing, I started looking for platforms through which I can reach out to the public and teach them on related topics. I found that blogging is the right platform for me to reach out to a large audience and that helped me to become the founder of Finance Infopedia.

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