Money Matters: Learn to Spend, Save, and Thrive
Take control of your finances in 7 days. Learn to spend wisely, save intentionally, and thrive with confidence.
Lesson Specific Content Goes Here
You can add lesson-specific resources (or any lesson specific content) in the lesson builder.
Day 3: Needs vs Wants - Redefining Value in a Consumer World
Learning the Secret to Spending Smarter and Living Freer
Welcome to Day 3!
Hey there reader!
You’ve made it to Day 3—and that’s something worth celebrating. Your commitment to building a better relationship with money is already creating quiet shifts in the way you think, feel, and act. The more clarity you gain, the more control you take back—and that’s real power.
You’ve made it to Day 3—and that’s something worth celebrating. Your commitment to building a better relationship with money is already creating quiet shifts in the way you think, feel, and act. The more clarity you gain, the more control you take back—and that’s real power.
So far, we’ve explored the truth about income vs. expenses and how to use practical tools like the 75/10/15 Rule to build wealth no matter where you’re starting from. Today, we zoom in on one of the most misunderstood aspects of financial wellness: knowing the difference between what you need and what you want.
In a world that constantly tells us to buy more, have more, and do more—learning how to define your own values, resist impulse spending, and spend with purpose is nothing short of revolutionary.
Let’s begin today by watching a short but powerful video by Caitlin Moore, UBT’s Financial Literacy Manager. In it, she unpacks the real impact of distinguishing needs from wants when making everyday financial decisions—and how those small distinctions can lead to massive change over time.
Content: Reclaiming Your Spending Power by Understanding What Truly Matters
Spending money isn't just a transaction—it’s a reflection of your values, habits, and goals. But in our fast-paced, ad-driven world, it’s easy to lose track of where our money should go. That’s where today’s lesson comes in.
Understanding the difference between needs and wants is the foundation of smart budgeting, intentional living, and long-term financial freedom.
🔍 What Are Needs?
Needs are the things you must have to live and function. These include:
Needs are the things you must have to live and function. These include:
🔹Food and water
🔹Housing and utilities
🔹Basic clothing and hygiene
🔹Healthcare
🔹Essential transportation (commuting to work or school)
🔹Housing and utilities
🔹Basic clothing and hygiene
🔹Healthcare
🔹Essential transportation (commuting to work or school)
When your needs are met consistently, your life feels stable. That’s your baseline for survival and security.
💫 What Are Wants?
Wants are the extras—the things that are nice to have but not essential. These might include:
Wants are the extras—the things that are nice to have but not essential. These might include:
🔹Streaming subscriptions
🔹Dining out
🔹Designer clothes
🔹Fancy gadgets
🔹Coffee shop runs
🔹Vacations
🔹Dining out
🔹Designer clothes
🔹Fancy gadgets
🔹Coffee shop runs
🔹Vacations
There’s nothing wrong with wants—in fact, they bring joy and flavor to life! But when they start taking priority over needs or disrupting your savings goals, that’s when financial stress starts to creep in.
🎯 Why This Distinction Matters
When you clearly define your needs vs. wants, you begin to:
When you clearly define your needs vs. wants, you begin to:
✔ Build a budget that reflects your priorities
✔ Make quicker, more confident financial decisions
✔ Reduce emotional spending and post-purchase regret
✔ Create more room for saving, investing, and growing wealth
✔ Make quicker, more confident financial decisions
✔ Reduce emotional spending and post-purchase regret
✔ Create more room for saving, investing, and growing wealth
Here’s the truth: Every dollar you spend is a vote for the kind of life you want to live. When you spend with awareness, you stay in charge—not your cravings, not social media, not the latest sale.
Your Challenge Today: Rethink and Reframe
Step 1: List It Out
Open your journal or budgeting app and create two columns labeled “Needs” and “Wants.”
Write down everything you’ve spent money on in the past 7 days and categorize each one. Be honest and curious—not judgmental.
Open your journal or budgeting app and create two columns labeled “Needs” and “Wants.”
Write down everything you’ve spent money on in the past 7 days and categorize each one. Be honest and curious—not judgmental.
Step 2: Ask the Hard Question
For every “want” you listed, ask yourself:
For every “want” you listed, ask yourself:
Why did I buy this?
Did it align with my goals?
Would I make the same decision today?
This step builds your self-awareness muscle—one of the most valuable tools in mastering money.
Did it align with my goals?
Would I make the same decision today?
This step builds your self-awareness muscle—one of the most valuable tools in mastering money.
Step 3: Shift One Spending Habit
Choose one want that you can reduce or pause this week.
Replace it with something that fulfills the same need but costs less (or nothing!).
Example: Swap your daily café latte with homemade coffee. Redirect that money to your emergency fund or a goal you care about.
Choose one want that you can reduce or pause this week.
Replace it with something that fulfills the same need but costs less (or nothing!).
Example: Swap your daily café latte with homemade coffee. Redirect that money to your emergency fund or a goal you care about.
Bonus Tips for Mastering Your Needs vs. Wants Mindset
✔ Pause Before You Purchase
Implement a 24-hour rule for non-essential purchases. Give yourself time to decide if it’s a true need or a temporary want.
Implement a 24-hour rule for non-essential purchases. Give yourself time to decide if it’s a true need or a temporary want.
✔ Create a Wishlist
Put non-essential items on a 30-day wishlist. Often, the desire fades—and if it doesn’t, you’ll know it matters.
Put non-essential items on a 30-day wishlist. Often, the desire fades—and if it doesn’t, you’ll know it matters.
✔ Use Visual Reminders
Place a photo or quote near your wallet or phone that reminds you of your financial goals. Every swipe becomes a conscious choice.
Place a photo or quote near your wallet or phone that reminds you of your financial goals. Every swipe becomes a conscious choice.
✔ Celebrate Frugality
Frugality isn’t scarcity—it’s strategy. Every time you say “no” to a want, you’re saying “yes” to something bigger.
Frugality isn’t scarcity—it’s strategy. Every time you say “no” to a want, you’re saying “yes” to something bigger.
👉 Your Action Items!
Check the box below after completing the action items.
I’ve watched the video on needs vs. wants.
I’ve listed and reviewed my recent purchases honestly.
I’ve identified one spending habit I can shift.
I’ve journaled about how I define value in my life.
Add more Tasks
A Little Motivation Before You Go...
The truth is—your money mindset is being shaped every single day. But the power to reshape it is already in your hands.
By defining your needs and wants with clarity, you’re no longer just reacting to your environment—you’re actively designing your future. And that future is built on alignment, intention, and confidence.
Every decision you make today sends ripples into your tomorrow.
Keep going. You’re not just learning how to budget—you’re learning how to value your life, one mindful moment at a time.
✨ Tomorrow, we’ll dive into the magic of conscious saving—how to turn small habits into long-term financial wins. See you for Day 4!
You’re doing amazing. 💰🌱
Lesson Specific Content Goes Here
You can add lesson content in the next tab (Course Content Builder Tab)
You cannot add/edit content here.