A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- Discretionary SpendingMoney spent on nonessential things you want but could go without, like dining out, hobbies, or entertainment.
- 50/30/20 RuleA simple guideline that splits after-tax income into 50% needs, 30% wants, and 20% savings and debt payoff.
- Fixed ExpensesCosts that stay roughly the same amount each month, like rent, insurance premiums, or a loan payment, making them easy to plan around.
- Spending PlanA forward-looking plan for where each dollar of income will go before you spend it, covering bills, saving, and everyday costs.
- Impulse PurchaseAn unplanned buy made on the spur of the moment, often driven by emotion rather than need, that can quietly derail a budget.
- Conscious SpendingDeliberately directing money toward what you value most while cutting back guilt-free on things that matter less to you.
Turn this into a brick
Knowing what Needs vs. Wants means is knowledge — the first half. A brick gets placed when you act on it.
More in Budgeting & Cash Flow
Plain-English education — not personalized legal, tax, or investment advice.