In personal finance, what is considered a need?

Managing your money (spending,saving and investing)

The HFN(Hierarchy of Financial Needs) identifies financial parallels to physiological needs (income), safety (insurance), love and belonging (credit), esteem (savings), and self-actualization (investments)

Explanation:

INCOME: The most basic financial need is income to cover basic living expenses, such as food, housing, and utilities. INSURANCE: To protect earnings, people must insure against unforeseen events that create setbacks. CREDIT: To acquire assets such as a car, home, or education otherwise unattainable through income alone, people need credit. SAVINGS: When individuals save, they put away resources for specific goals. The ability to save demonstrates discipline and engenders confidence, a sense of achievement.INVESTMENTS:This is the stage where people can invest in ventures that carry risk as well as the potential for return. It represents a turning point because people have investments to generate income, rather than relying solely on earned wages.