Needs are the basics you must have to survive. You need clothing. In Canada, generally speaking, it is cold eight months out of the year. Socks are required! You need food to survive. You need a safe place to live. You need access to safe transportation.

Wants, on the other hand, are things you would like. Contrary to how you feel at the moment, you don't need these things to survive. You want to go out with your girlfriend or boyfriend on Friday. You want a new smart phone, even though you have one that works. You want your own car, even though you live two blocks from school and three blocks from where you work.

In the following sections, you will learn more about the costs of living on your own.