Need vs. want? You’ve heard this concept before … that you should look at your spending and decide if a purchase is a need or a want. Given what’s happening for so many people now, where their needs are not being met, perhaps it’s time for a new view on this concept.
What would it mean to serve someone else’s need vs. your want?
The social contract with cyber Monday and giving Tuesday is so interesting when viewed from this perspective. Shouldn’t the days be arranged the other way around – where you give to those in need first and then you spend money on the wants for you or people on your list second?
We can see the significance of this if we just take a look at food insecurity, one of many issues that has been made worse by the pandemic. According to a Feeding America study pre-pandemic food insecurity had already been impacting 35 million people annually in the U.S. including 11 million children. These were actually the lowest numbers in 20 years. The pandemic has reversed those improvements made over the past decade since the Great Recession. So when Feeding America now projects that 1 in 6 (more than 50 million people) are experiencing food insecurity in 2020, including 1 in 4 children (approximately 17 million), we know that millions more are newly experiencing this basic need, right now.
I’m not suggesting feeling guilty or wrong with purchases and gifting, but instead suggesting you consider how much better you might feel by also digging deeper this year to help others – whether through charitable giving or direct financial gifts to those in need.
“How wonderful it is that nobody need wait a single moment before starting to improve the world.”
Every good wish,
P.S. When you’re ready and the time is right, let me know if you want to have a conversation about how to listen to and understand your own thoughts and beliefs when it comes to money. Email me at email@example.com and put “money thoughts” in the subject line.
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