Radar | Aug 28,2021
May 18 , 2019
By Tsion Fisseha
Growing up, I felt shackled by rules set for me way before I had the capability of making personal choices. I was always agitated by the things I was supposed to do as opposed to what my desires were.
Consequently, it was always a blood bath between my parents and I. We fought on what I wore, ate or even how I preferred to care for my hair. My mother kept making me put butter on my hair - despite my protestations - promising that I would love the end product. These battles recur during a person’s lifetime.
We fought, because I knew what I wanted, and they knew what I needed.
Many decisions are made in life. Usually, it is a sacrifice. Perhaps we want to study something that is more near and dear to our heart but often settle for a college major that promises a career that generates a stable source of income. We cannot get everything - this is a cosmic rule.
In a study done to test children’s capability in differentiating wants and needs, a series of photos were flashed in front of a television screen. The pictures ranged from food to water to shelter to shiny objects. The results showed that at a very young age, it was very difficult for the children to recognise the difference between what they needed and merely wanted.
If people are not careful, their children will come down with “affluenza,” a disease that causes them to confuse wants and needs, according to Michelle Singletary, author and award-winning columnist for The Washington Post.
We need to teach our children what my grandmother taught me - thinking twice about spending money we do not have on things we do not need to impress people we do not like anyway.
Despite the similarity of these words they completely adhere to two completely different narratives. While want recognises the desire to possess or do something, need leans toward what is required and more essential than what is desired. These terms are used interchangeably, because little to no effort is put into understanding their difference and the outcomes they have in one’s life.
This is why it is crucial to prioritise, recognise, avoid and pursue something or someone.
Economics substantially attempts to allocate scarce resources and by doing so needs a clear cut line of what one wants and what one needs. In this sense, it is clear that wants and needs profoundly affect the financial balance of the consumer.
As a child, I cried constantly, because I was told to go to sleep early even though I wanted to stay up late. I wanted to run around and play all day instead of sitting down to eat and watch movies when I needed to study. But as one grows up and grows old, one needs to analyse the difference between what is needed for survival and what makes one happy.
This is not to say that desire or wants are insignificant since these things are the ones that ultimately make the world go round by creating opportunities to acquire wealth and riches.
Wants and desires shape one’s hopes and dreams. These hopes and aspirations make it possible for innovation and creativity. Ultimately, finding the balance between these two concepts could result in a remarkable revolution in our lives.
But balance comes with distinction, so one must be aware of it before coming to a conclusion and deciding on what measures should be taken.
PUBLISHED ON
May 18,2019 [ VOL
20 , NO
994]
Radar | Aug 28,2021
Viewpoints | Nov 21,2018
Radar | Dec 07,2019
Editorial | Oct 07,2023
Advertorials | Jul 31,2023
Verbatim | Sep 17,2022
Radar | Nov 05,2022
Life Matters | Jun 24,2023
Sunday with Eden | Jul 20,2019
Editorial | Feb 27,2021
Photo Gallery | 96175 Views | May 06,2019
Photo Gallery | 88438 Views | Apr 26,2019
My Opinion | 67005 Views | Aug 14,2021
Commentaries | 65718 Views | Oct 02,2021
My Opinion | Apr 13,2024
Feb 24 , 2024 . By MUNIR SHEMSU
Abel Yeshitila, a real estate developer with a 12-year track record, finds himself unable to sell homes in his latest venture. Despite slash...
Feb 10 , 2024 . By MUNIR SHEMSU
In his last week's address to Parliament, Prime Minister Abiy Ahmed (PhD) painted a picture of an economy...
Jan 7 , 2024
In the realm of international finance and diplomacy, few cities hold the distinction that Addis Abeba doe...
Sep 30 , 2023 . By AKSAH ITALO
On a chilly morning outside Ke'Geberew Market, Yeshi Chane, a 35-year-old mother cradling her seven-month-old baby, stands amidst the throng...
Apr 13 , 2024
In the hushed corridors of the legislative house on Lorenzo Te'azaz Road (Arat Kilo)...
Apr 6 , 2024
In a rather unsettling turn of events, the state-owned Commercial Bank of Ethiopia (C...
Mar 30 , 2024
Ethiopian authorities find themselves at a crossroads in the shadow of a global econo...
Mar 23 , 2024
Addis Abeba has been experiencing rapid expansion over the past two decades. While se...
Apr 13 , 2024
A severe financial stranglehold has been imposed on the banking industry, underminin...
Apr 13 , 2024 . By MUNIR SHEMSU
In an unprecedented move, the central bank has published its inaugural stress test report, uncovering potential fault lines within the finan...
Apr 13 , 2024 . By MUNIR SHEMSU
In a bold departure from its historical position on foreign investment, the federal government has opened...
Apr 13 , 2024 . By AKSAH ITALO
A proposed excise tax stamp system draws controversy amongst industry leaders in the alcohol, tobacco, be...