Need vs Want

Is it a need or a want? This is one of the most basic principles of economics and such a simple question, but a very important one to ask before you make any purchase.
A need is something that you can’t live without. Obvious examples of needs include clothing, food, and shelter. Conversely, a want is something you would like to have. It is not absolutely necessary, but you have an overwhelming desire to obtain it.
The utility of this question isn’t best used with these obvious examples. You need to apply the principle to situations where the line between need vs. want begins to blur.
I had a co-worker whom I used to ask the “needs vs. wants” question all the time. This particular person had an absolutely horrible time with money. He didn’t have any discipline when it came to things like digital music, DVD movies, and video games. He would argue that he needed these things to live because they made him happy and reduced his level of stress. I would counter that perhaps he was stressed because of all his money problems and perhaps he should limit his purchases. He wasn’t able to see the difference between need and want.
The distinction between need and want can begin to blur, but it should still be easy to make the determination between need and want. The philosophic principle behind these two basic opposing elements is called dualism. Dualism is any theory or system of thought that involves the existence of two fundamental classes of things or principles which are often in opposition to each other. Need vs. want. You need to make this distinction.
Some items are both needs and wants. For example a car is a need for most working adults. Let’s say you are eyeing a new Acura, but your 10 year old Civic stills runs flawlessly. One could argue that you need a car to survive but on the flip side your current car still runs like a champ. And do you really need an expensive car like an Acura? Why not buy another Civic since the last one treated you so well?
I suppose this principle could be applied to your diet too. You need to eat protein, vitamins, and minerals to live and how you obtain them is up to you. You can eat well or you can eat garbage – the choice is up to you.
The next time you go to buy yourself something extravagant or indulge in your favorite junk food, ask yourself – Is this something I need or something I want?