I tend to post a lot about the various methods of reaching financial freedom, but all of these ideas rest upon the expectation that it's easy to exercise self-control. I'll be the first to admit that sometimes it's really tough to say no to buying something, sometimes it's can seem hard to be disciplined. But if you have set a goal for building wealth, you need to learn how to say no. Perhaps the most common way that we justify purchasing things is by claiming that we "need" them. That's not true and it needs to stop.

What Do You Really Need?

The modern definition of need has seemed to expand to cover everything from lattes to iPads, but my definition of need is something that you cannot live without. If you can live without something, you will persist even if you don't have it; you have identified something that would make you feel happy or that might add value to your life, but that doesn't make it a need.

Based on this realistic definition of needs, I can only identify two things that can honestly be classified as needs to be filled with money: food and shelter. Without food in your stomach or a place to live you would die, and probably die pretty quickly. Therefore it is always in your best interests to make sure that you have a safe place to live and food in your refrigerator. By purchasing these two basic necessities, you will ensure your own survival.