By: Jeena Cho

Until today, I believed that credit counseling was a complete waste of time (and money), another barrier from allowing people to get debt relief, and people don’t learn a darn thing . Well, I was wrong. At least one of my client reported learned something.

She learned the difference between “need” and “want.” She went on to explain that this year for Christmas, she would not be walking down the center isle at Costco, filling her cart full of toys for her kids because that is a “want” - not a need. Instead, she was going to buy each of her children backpacks and school supplies - something they “need.” Her children’s college education plan was also funded.

Christmas was going to be very different this year. I could tell that she was somewhat pained by this decision, and maybe (I’m speculating here) felt she was letting her kids down by not buying all the “cool toys.”

I had to restrain myself because I just wanted to give her a huge hug. I could not have been any more proud of her! She was learning to live within her means and learning to budget. She wasn’t spending every dime in her bank account (or worse, going into debt) so she can spoil her kids. Instead, she was planning for their future and teaching them a valuable lesson in money management too.

Need vs. Want - What a great lesson!

Image credit: *L*u*z*A*