NEEDS vs WANTS

*FINANCIAL INTELLIGENCE* 

Financial Education Series - 5

*NEEDS vs WANTS*

To me owning a Four wheeler was a WANT three decades back,  but today it's my NEED. 

Own HOUSE,  Mobile,  vehicles are our NEED today but still a WANT for many people. 

Similarly luxury life style,  business class travel etc may be my WANT today but are  BASIC NEEDs for a financially abundant and successful Individual.

Therefore *NEEDS and WANTS* changes as per our personal Financial Growth and success.

But the formula for Financial Success remains the same,  

*1. Create multiple sources of income to fuel your personal Wants*

*2. Become financially wealthy and only then use Credit cards/ EMI / Loans to fuel your personal WANTS*

When a Storm comes,  only the trees that have strong roots survive and eventually thrive,  the remaining gets blown away. 

The same is with the law of Financial Success. 

If our Financial roots (Asset class Investments,  returns on investment, our commitment and financial discipline) are strong, then we will survive and succeed.

Happy Investing.... 🙏🙂

Biswajit Roy 

Financial Psychologist & Wealth Strategist