How Much Money Do You Need?

Sometimes we don't know what we want and how much we want. And so we end up in a scenario where we ask our own selves how much do we need. Let's apply the same concept to the money as well.

Do you know how much money will make you happy? I am sure you don't know about that. You need to understand that you need to draw the visualized line on what are some of the things that you need in your life.

Another thing that you need to understand that having money and thinking about ability to spend the money is something you have to plan properly. That visualization shows you the "want" factor. You can't just magically think about you would be having it or not having it unless you view that way.

Knowing the exact number always helps. You need to have a particular number in mind before you can draw the line for how much of the money that you need. So this post is about the discussion on how much of that money you would need.

So let's discuss how much money do you need.

Food

One of the important thing you should consider for the spending money is the food. Never ignore this as it is one of the important thing in our life. Without food we could not eat. So the food is something you should not ignore.

Your first priority whenever you make money has to be about the food. You have to save money and then make sure to have the pantry ready for the food. And the thing is that food should never be ignored.

Always keep some money aside for the food. Like budget your month. Include the junk food, healthy food and daily routine food into it. Never ignore the food part of your money. Make sure to factor in your budget for that.

Shelter

Another thing you have to watch out for is the shelter that you can build. Make sure to have some sort of place to live in. Like it could be rented place and another could be the purchased if you can afford.

If you can't afford it as of now. Make sure to save the money so much so that you can afford the money to rent the house. And the thing is that you would earn a good money out of the place renting to others if you have ownership of multiple of that.

A lot of people don't budget in for the shelter as in place to stay. Make sure to think about renting and buying both. If you can get it properly managed then you would understand where the money can be managed better when you have roof over head.

Clothing

Most important thing if you are a man or even a woman. Because you have to be presentable and not wear something that looks ugly. So make sure to have the clothing planned for yourself.

Make sure to set aside the money for the clothing. You can also schedule the purchase of the clothing on the seasonal basis. This way you would understand where the money can be moved.

Clothing is another essential thing and it should be under your control. you need to know the fact that it is one of the place where your money should go long term. You have to plan the budget accordingly where the clothing is a part of it.

Needs vs Wants

Now let's come to the needs vs wants part. You know the essentials and the way things can be done with the essentials. You have to understand that beyond the essentials you have to focus on things that you want and what are some of the things you would need.

Once you understand how to plan them. You can think of those things accordingly. Make sure to set aside your money so you know how to spend it the right way. For example laptop is a need but the apple laptop is want. So you have to factor in the available money.

Unlike most of the people we have to plan the need vs wants by taking a look at our budget and then planning the same accordingly. When you know how to spend and how to direct your investment you get the idea.

What do you think?

How do you plan and spend your money? How do you give the direction to your money in this case? Do you have any specific way to deal with the money?

I would love to know your comments in this topic. Do post your comments :)