By Tokiso TKay Nthebe
We live in a world of instant everything—click, buy, delivered. Social media keeps us wanting more, and that “treat yourself” culture can blur the line between needs and wants.
Whether you’re a young professional building your career, a budding entrepreneur in Maseru, or a Mosotho living in the diaspora chasing dreams abroad—impulse spending can quickly derail your financial goals.
Let’s get back to basics and unpack the difference between a need and a want—and more importantly, how to avoid spending money on things you just want to need.
What is a Need?
A need is essential for your survival and wellbeing. Think:
- Food and clean water
- Shelter and clothing
- Healthcare and safety
Without these, your life and security are at risk. These should always take first priority in your budget.
What is a Want?
A want is something that adds joy, comfort, or status—but you can live without it.
Examples include:
- The latest iPhone
- Designer fashion
- Exotic getaways
- Fancy dinner dates
Wants are not “bad.” Budgeting for them responsibly makes life fulfilling. But unchecked, they can lead to debt, stress, and regret.
Ask Yourself: Do You Really Need It?
Often, we justify wants with statements like:
- “It’s on sale, so I’m saving money.”
- “I work hard—I deserve it.”
- “I need it for this event.”
- “All my friends have it.”
But before you swipe your card, pause and ask:
👉 Do I need it, or am I trying to convince myself I do?
How to Avoid Overspending
Here are four practical tips you can apply today:
- Write it Down: List your personal needs vs wants. Be honest. Seeing them helps you make better decisions.
- Plan for Your Wants: It’s okay to want nice things—just plan for them. How much do you need? When do you want it?
- Set Boundaries: Decide how much you’re willing to spend on wants each month. Use spending limits or alerts.
- Delay Gratification: Don’t buy on impulse. Sleep on it. If you still want it tomorrow—and can afford it—go for it. If not, skip it.
Final Thoughts
Before your next swipe, ask yourself:
Do I need this, or do I want to need it?
Remember:
“Don’t medicate stress and fatigue with impulsive buying. A shopping spree will only set you back even more.” – Unknown
Tokiso TKay Nthebe is an author, podcast host, financial coach and lead advisor at TKO Financial Wellness & Advisory who is passionate about financial wellness, education and financial planning. Subscribe to the FREE email newsletter for personal finance content and tips.
For more visit www.tkofinancialwellness.com or email info@tkofinancialwellness.com
Disclaimer: This article is not financial advice, please consult a financial adviser for financial advice.
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