Needs vs wants

A need is something you must have to live and work: food, shelter, basic clothes, transport to college or work, medicine.

A want makes life nicer but you could live without it: a new phone when yours works, eating out, concert tickets, the latest sneakers.

Why it matters

Money is limited. If wants eat into needs, you end up borrowing for rent or food. Covering needs first keeps you safe.

The grey zone

Some things are both. You need a phone, but you want the ₹80,000 flagship. Ask: “What is the cheapest version that does the job?” The rest is a want.

A simple test

• Would my life or work suffer without it?
• Can I wait 7 days before buying?
• Is there a cheaper option that works?

If you can wait a week, it is probably a want.