Which statement best describes the difference between needs and wants, and how prioritizing needs supports financial responsibility?

Which statement best describes the difference between needs and wants, and how prioritizing needs supports financial responsibility?

• A. All spending should be considered equally, regardless of needs or wants
• B. Needs are essential; wants are desires; prioritizing needs first helps save and avoid debt
• C. Wants are more important than needs
• D. There is no difference

Answer: (B)