Setting Apart your Needs and Wants

Most of us don’t know the difference between our wants and our needs, so the tendency is we tend to live beyond our means. We sometimes feel the urge to buy something we think we need and most often than not pressure from family or friends or even the society tells us to follow our urges. And usually the realization comes too late when we only want and not really need what we already bought and spent for.

The basic examples of needs are clothing, house we live in, and food. These are man’s basic requirements in order for us to live. We need food for energy supplied in our body so that we can work or study effectively. We need a place to sleep in and we need clothes to wear at home, in the office or in school. Other possible basic needs are education, health protection, life insurance, transportation and other forms of leisure and entertainment for life balance. Living without these needs makes life more difficult and not worth living. So many people all over the world are living without these basic needs.

Below are the most basic needs that will help us live comfortably.

Food
Simple, nutritious food cooked at home is a need. Fancier food, usually cooked in a restaurant, is really a want. There are cases in which it is cheaper to buy food rather than cook, especially if you live on your own. The secret is to choose which option will give you nutritious food at the lowest cost.

Clothing
You need clothes that are clean, neat and are suited for your daily activities. You do not need expensive designer clothes.

Housing and Utilities
A room or a house big enough for you and your family, with simple furniture, a basic stove, small TV set and a telephone or a simple cell phone are needs. It is okay to rent a house if that is all you can afford to day. It is still a need to own a simple house eventually. A big house, expensive furniture, a home entertainment system and a sophisticated cell phone are wants.

Transportation
Enough money to be able to go to work and return home is a need. Owning a bicycle, a motorcycle or a car are usually wants. But there are cases in which it will cost you less to own a car than pay for a jeepney, a bus, a taxi or an MRT ride. When this happens, then the vehicle is a need. It is all right to buy it if you can afford it.

Education/Insurance
Education, health insurance and life insurance, especially if you have a family dependent on you, are needs. Higher education and better insurance coverage may fall into the wants category, depending on your status in life. If you wish to achieve more in your profession but cannot afford to enroll in a prestigious school, then you have the option to take short courses. In a very real sense, choosing what course to take and what school to get into is an investment decision. Quality education is not necessarily expensive. The cost of education must be weighed against what you stand to earn out of that investment.

When you acquire insurance, make sure the plan suits your objective and is consistent with your capacity to pay.

Leisure/Travel/Parties
We need a simple recreation to balance our life and help us copy with stress. There are many things we can do for free to keep our minds off our work and our problems. We can go to free public concerts or borrow books, magazines or newspapers and read them for leisure and for education. Many offices allow surfing the internet before and after office hours. You can arrange a gathering with friends by asking them to bring food for sharing, or take your bike to the park to catch the fresh morning breeze. It becomes a want if you start spending for a leisure activity.

Travel and big parties are only for those who already have passive income to spend. You should never use your active income to pay for a vacation trip or for holding a big party.

In the end, always remember that active income can buy only your needs. Passive income can buy both your needs and your wants. Never use your active income to buy your wants.

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Competing with Others in Business

Hey, I think there is nothing wrong with a little competition especially in business. Competition is healthy. What do you think? But when you feel the need to compete and struggle to be the best, I think that is the time that competition tends to become a liability.

Being flexible occasionally means that you are not number one. At times when you are competing you will need to take a step backward for a friend or companion who is trying to be innovative. It means you just need to negotiate or compromise.

There are people who live in full competition with everyone; they are admired for such achievements, but they are not attended and given support by other people. Such people convey that they are prettier or smarter or richer and they don’t gain trust of other people. Message projected is about “Me and Me first and foremost”.

In some instances, we are pushed to be more competitive like in companies that are into daring marketing clashes with competitors in a global way.

Here is a tip if you feel the need for that streak of competitiveness blocking your way in dealing with others and your loved ones. It is better if you see the other person as a friend and colleague, and not as an opponent. The relationship should be as a friendship, as a mentoring one and the ability to do things together and as a team, and wherein neither of you can do the given task alone.

It is better if you look directly into the eyes of the person and see the fellow human being as a person who doesn’t want to be a loser more than you do. Remember that people who are always on the lookout to win may really collect lots of recognition, but will eventually lose a lot of friends. And I think it is much better to have more friends than lose them in the long run.

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Joe the Plumber and the Presidentiables

The US presidential elections is fast approaching and admit it or not, this election will greatly affect the world whether we like it or not.

Some independent voters mentioned that all the debates held with Senator John McCain were won by Senator Barack Obama. I think a change of the game plan is all what Senator McCain need in this last phase of the presidential campaign.

This video depicts the last presidential debate between the two candidates, and once again the debate was awarded to Obama. The strategy of Obama was to stay calm and cool as he explained his plans.

The viewers pointed out though that they watched the debate as “pure theater”, as the candidates didn’t even bother to tackle on the serious issues in the real world. With the raging present financial crisis and recession which may last for as long as two years, they were expecting to see how the candidates will be able to deal with the problem at hand even if just through a debate.

Disclaimer: Please note that the Real News Network cannot guarantee the complete accuracy of the transcripts as these are types from the recording of the program.
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How to Shop in an Uber Tight Budget Cushioning the Bailout Effects

The citizens of the United States of America are minimizing on their expenses because of the staggering economy. In fact, some say that they are doing this for many years now.

Based in this video taken by the McClatchy Newspapers and the American News Project, some locals of the eastern Pennsulvanian town were interviewed and how they are coping with present credit and economic crisis.

With the current crisis, prices of commodities most especially food are also rising. Shelter, clothing and food are at the top list of the basic needs of humans. The increase in the cost of transportation generates the increase in food cost and will eventually put a toll in the wallets of the consumers.

What do we need to do about it then...

Here are some steps to keep up with the costs of rising food which I hope will be of use to you.

* Keep away from previously prepared foods. Everyone knows convenience is very much encouraged especially nowadays and the groceries stores are capitalizing on this. We can easily see and buy ready-made meals, but it is more expensive as compared to foods that you prepare yourself. Instead of buying these meals that are utterly convenient, it is better to buy the ingredients and to prepare the meal yourself.

* Avoid Eating Outside. Try to eat at home and enjoy a nutritious meal made at home and it will be cheaper on your part. It is better to avoid eating outside nowadays, including drinking good coffee, as you can do it yourself at home at a most convenient price.

* Before you shop, eat first. There will always be the tendency that you will be able to buy expensive and unnecessary foods if you walk into a mall or building and you are hungry. Try to eat first before you go shopping.

* Buy in huge volume. Buying in bulk will be able to save you considerable amount of money. Bear in mind the prices of the family size package of the products that you will purchase and compare them with the unit cost of a single product if it is much lower. And also be sure that you have a place to store your bulk purchases. Other stores don’t offer any bargains to big boxes so better make sure to compare the prices of the sales. And always check your spending habit as buying in bulk may encourage you to buy more than what you need, thus it will go overboard your budget.

* Arrange your shopping in advance. Make a shopping list on what you will buy before going shopping. If you do impulsive shopping, you will end up filling your cart with everything and anything that catches your eye. Instead of saving money, you will spend more money than what is previously budgeted. It is also advisable to plan your home meals for one week and take note of those you just need to buy to prepare those meals.

* Do not bring the kids with you while shopping. Kids naturally tend to fill up your grocery cart as they grow tired and cranky and hungry while you are shopping. So naturally you tend to give in to their wishes of providing them their preferred snacks in order to keep them quiet while you go on shopping.

* Look Down. This is a good tip which I know not everybody knows. Observe that most stores tend to place their most expensive goods at eye level. You have to look down to look for cheaper products. Also try to look for alternative and cheaper generic products in exchange for the branded products that you always get. Other times, you only pay for the packaging of the product which really counts so that the product price tends to go up.

* Pay Cash. It is better to pay in cash always. Believe me, I’ve been in that kind of predicament. When you use your card, you tend to pay interest on the purchase made if you don’t pay your card in full every month. Try to pay in cash when you go shopping and avoid charging the necessities in your credit cards.

* Check your Bill. Be sure to check always your bill. There will be a tendency of the scanners not being perfect at all. Taking a look at your receipt may help you a lot.

Careful smart shoppers will be able to minimize the amount spent on the purchase of food. All it takes is a little patience, time and effort.

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