If you want to be able to save money and live on a budget, it helps to clearly understand the difference between your needs and wants. You probably understand that, say, food is a need and a latte is ...

When you’re building a budget, one of the first pieces of advice experts will give is to divide your expenses into your “wants” and “needs” and base your spending on certain percentages ...

One of the experts, Michelle Singletary, says, "Anytime you go shopping… you should ask yourself, is this a need or a want?" Is this how you decide when to spend money? Why or why not?