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In Business / College | 2025-07-03

In personal finance, one makes decisions based on needs vs. wants. What is considered a need?
A. something one would like to have
B. something one does not budget for
C. something one can afford
D. something one cannot live without

Asked by maneflyy

Answer (2)

In personal finance, a need is something one cannot live without, such as food, shelter, and healthcare. This is distinct from wants, which are non-essential items that can enhance quality of life. Recognizing this difference is essential for effective budgeting. ;

Answered by GinnyAnswer | 2025-07-03

A need in personal finance is something essential for survival, such as food, shelter, and healthcare. In contrast, wants are non-essential items that can improve quality of life. Recognizing these differences is key for effective budgeting.
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Answered by Anonymous | 2025-07-04

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