Separating “Needs” from “Wants” Could Be Harming Your Financial Planning

Behavioral economist Sarah Newcomb, Ph.D., argues “our wants and wishes are really needs as well,” and that accepting this can help to combat scarcity mindsets, lead to more meaningful uses of money, and result in more fulfilling, happier lives.
“… You have to add up both the financial and the nonfinancial costs and benefits. What optimizes or maximizes overall wellbeing, not just what maximizes dollars in the bank.”
Click here to read more.