Tag: maslow

I’ve asked myself that question many times and it’s a tough one to answer. You’ve probably heard of Maslow’s Hierarchy of Needs:

• Physiological needs – water, food, shelter, etc.
• Safety needs – personal security, employment, health.
• Love and Belonging – family, friends, intimacy.
• Esteem – respect, self-esteem, status.
• Self-actualization – the desire to be all you can be.

It’s quite interesting that Maslow narrowed it down to five crucial needs, but when you look at each separately there’re many facets of what a need truly is. And each of us have many different kinds of needs that are individually important.

I might need a new pair of shoes, but my old ones still fit regardless of the fact that one has a hole in the sole. You could say this isn’t really a need, it’s a want because no one can see the hole. The shoe still fits perfectly and if I avoid walking where there might be glass or other sharp objects, the shoe still does what a shoe does.

Wants are far more subjective than needs which makes them harder to identify because they’re more personal to how we want to live and what living comfortably means. A new pair of shoes would make me feel better about myself because, well, they’re new and maybe more noticeable and folks might think I’m pretty hip because I’m wearing the latest style.

On the other hand, my need for a new pair becomes a lot more relevant than wearing the latest style if I’m sitting at a restaurant, with my leg on top of my knee and the shoe with the hole in the sole is visible. I’m sure folks who notice would think to themselves “that fella needs a new pair of shoes.”

I was discussing this need/want topic with my wife recently who’s thinking about purchasing a want. We’re both retired, and unfortunately haven’t met the “$1,000,000” figure often mentioned (as a need for retirement) by financial planners. I look for reasons to justify a want purchase by looking at our needs. Have all five been met?

If you can answer yes, then I say go ahead with the want purchase. If you’re like us, you’ll have a common sense discussion and come to a mutual agreement. Or not. (I just thought I needed to add that little negaitve aspect whether I wanted to or not.)