2.2 Paying for needs, wants, and aspirations

Question 1

3 reasons why people spend money

Answer 1

1. pay for essential items they need 🤞
2. pay for optional items they want now 👇
3. save for items they aspire to buy in the future 🔮

Question 2

Needs

Answer 2

items people must have to survive, such as food, drink and a place to live.

Question 3

Wants

Answer 3

Wants are optional items that are desirable but not necessary.

Question 4

Aspirations

Answer 4

Items or experiences that people wish to have in the future.