A Year of putting Wants First

Putting wants before needs sounds like an unhealthy path of unwise financial decisions and behaviors. While needs encompass all things essential to survival and basic functioning; wants  are considered things that provide comfort and enjoyment but aren’t necessarily essential.  The line between a need and a want can be blurry in this ‘Influencer Culture’ where ads are embedded in all social platforms. What is considered a want could be convinced to be a need.

We are strongly encouraged to put our needs first. Advised that the consequences of prioritizing our wants are increases in stress and financial strain, along with accumulating debt. But is there a way to focus on your needs while leaving ample room for your wants; making them both a priority.

Wants are essential to enjoyment in life. I spent the latter part of the year determined to obtain something I wanted, a larger living space. A larger square footage apartment was not necessary but it was highly desired. I was beginning to suffocate, metaphorically, at the place I was living (additional problems with the condo I was renting, the landlord, and messy residents) and to add not being happy at work; I was miserable both at home and while working. I wasn’t at peace and the most important thing to me is my peace of mind. Moving meant higher living expenses; essentially, living above my means for a time and potentially accumulating all of the consequences of prioritizing wants over needs.

Looking back, it was the best life decision I could have made. That which brings you peace, comfort, and enjoyment are also essential to survival. Once I decided to give my wants and desires equal attention, the concern for meeting my monthly needs felt less burdensome.

When considering needs first, the ideal financial division is:

• 50% to Needs: Essential living expenses.

• 30% to Wants: Discretionary spending on things that enhance your lifestyle.

• 20% to Savings: Building an emergency fund. 

Let’s recalibrate, considering our wants and needs with equal importance:

• 45% to Needs: Essential living expenses.

• 45% to Wants: Spending on things that provide comfort and enjoyment.

• 10% to Savings: Building an emergency fund.

My ambition for 2026 is to give my wants more importance than I have in previous years.

Peace and love,

Alisia Latoi