There are things you need to live a healthy life, like a place to live and food to eat. There are also things that you’d like, such as a warm vacation or new ski boots. It’s possible to have it all, but not all at once. If you can’t afford to pay your bills for necessities like rent/mortgage, groceries, and utilities, you’re not ready to soak up the sun on a sandy beach. When you learn to live by a ‘first things first’ rule and manage your spending carefully, you can create a budget that balances financial needs and wants while setting money aside for emergencies and long-term financial stability. It starts by clearly defining needs versus wants.