Now this is the area that gets most people in financial difficulty in the first place.
There is an immense difference between wants and needs and if you frankly consider your financial position and think how you have stacked up the debt that you are presently confronted with you might just find that it is due to over expenditure on wants.
Needs are those components that are required for you to lead a healthy happy life on a day by day basis to keep good health in mind and body for you and those whom you are responsible for.
Good food, shelter, health care - These come under the banner of needs because these are the bare things in life that you need to manage.
DVD players, alloy wheels on your automobile, the most recent designer clothing, cigarettes etc - These are wants and there is for certain no need to have them in your life.
These are the things that get people into trouble. These are the things that cause your debt and stress and take away from your lifestyle.
These are the things that make people miserable at the end of the day because you still have to pay for them, you don't need them and you certainly don't need the debt that comes with them.
Have a look around your home and see how many items there are that fall under the category of wants, and then ask yourself how frequently do you use these items and what sort of pleasure have they given you compared to the distress that you are now feeling with the debt you have to pay off.
Sure there might be some items that you still get pleasure from such as playing on your Playstation but think once more how the time that you waste on the Playstation could be better passed on something more productive or something that could improve your health and well-being such as a walk or a jog in the park.
Can you exchange some of those items into hard currency? Of course you will be able to and if you aren't using them then wouldn't it be better to sell them and put that money towards your debt.
Just realizing the difference between wants and needs might be all that you need to turn your life around and assure that you never become weighed down with debt again.
