Is that item a want or a need?

The age old dilemmhttp://www.blogger.com/upload-image.doa – is that item a want or a need? No doubt, one’s financial health plays a key role in making that determination. Apparently – geographical location plays more of a factor than you may think. The NY Times site has a great interactive tool, which shows how people across various countries spend their discretionary income – i.e. the cash that goes to clothing, electronics, recreation, household goods, and alcohol – on a per capita basis. You can access the tool through this link : http://www.nytimes.com/interactive/2008/09/04/business/20080907-metrics-graphic.html

Apparently, people in Greece spend almost 13 times more money on clothing as they do on electronics. People living in Japan spend more on recreation than they do on clothing, electronics and household goods combined. Americans spend a lot of money on everything, but then – this is the land of opportunity and instant gratification, so that’s no surprise….