The month of November has come and gone. And ACCC’s November consumer poll on needs vs wants is also concluded. Needs and wants make up the basic living requirements of any human being. However, identifying needs from wants is key to better personal finances. Therefore, the infographic from this month’s poll results can yield valuable input to your everyday financial habits. Here are some highlights: 39% of the respondents believed that any given item could be a need or a want; 29% of the respondents think that wants are required to live a happy life; Also, a majority of the respondents said they would give up eating out, followed by cable, in order to save some extra cash. If you’re working on debt management, ACCC definitely encourages saving extra money!
Our credit counseling advice is to distinguish between needs vs wants.
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If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.
