Understanding the difference between wants and needs is key from "summary" of Rich Dad Poor Dad for Teens by Robert T. Kiyosaki
In life, it is essential to recognize the distinction between wants and needs. Wants are the things that we desire, the things that we believe will make us happy and fulfilled. Needs, on the other hand, are the essentials that we require to survive and thrive. Understanding this difference is crucial because it directly impacts how we manage our finances and make decisions about how we spend our money. Many people confuse their wants with their needs, leading to financial struggles and debt. They prioritize buying the latest gadgets, trendy clothes, and expensive cars over paying for necessities like food, shelter, and education. This lack of discernment can quickly drain our resources and leave us scrambling to make ends meet. By learning to differentiate between wants and needs, we can make more informed choices about how we allocate our funds. We can prioritize spending on essentials like food, housing, and educa...
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