Wants
Expenses that improve daily life but are not required, and the first place a budget looks when another line has to grow.
Often confused with
- Discretionary Spending
- Wants name the category of expense; discretionary spending names the money actually spent on it.
- Needs
- A need is required to live or to work; a want improves life without being required.
Taught in
See also
5.1.C.6