Self-fulfillment needs

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The last part of the pyramid includes self-actualization needs. This would cover expenses on things which you dream of. Even though Maslow listed some needs which can be attributed to self-development (such as creativity), these should be rather addressed before having lifestyle expenses.

The reason for this is that we, humans, often don’t really know what we want. We dream of possessions that we are sure will make us happy, just to discover that once we have it, the emptiness isn’t gone. With dreams about possessions we usually try to address some psychological needs, which are not necessarily evident to us.

personal finance

Do not try to “buy” your happiness. Whenever you want to spend money on a more expensive item, think – what feeling do you associate in your head with having the item, and reason to yourself what it actually means to feel this way and whether the possession of your dream item will definitely bring you this feeling.