The financial goals in your life are derived from needs and desires. We all have needs and desires. We want cars, houses, vacations, more money, health, family, financial security, independence, but where do we start and where do we want to get to? What needs do we have now and how much money do we have to achieve our financial goals?
Maslow’s pyramid contains the needs that we have over time, depending on the stages of life. We have basic needs, without which we cannot survive, but also needs that denote a high standard of quality of life. The needs at the base of the pyramid do not require a lot of money, those at the top do.
What are your financial goals in your life?
Maslow’s pyramid has five steps. On each step, the needs we have are presented. We will see which are the needs that require money and, thus, I will interpret Maslow’s Pyramid from this perspective: the financial perspective. People want money. People have needs. Let’s see what needs are and what money implies throughout life!
Level I presents physiological needs, such as: food, clothing, shelter. These needs can be satisfied by a minimum wage, even with financial help from parents. If we are talking about a young person, money is not a problem. At this age, entertainment, going out are at the top. The basic needs representing supporting minimal expenses, survival are not as great as those later on. For a person who has “taken flight” from their parents’ house, the responsibility is to also support a rent. Responsibility increases, but still the costs target only one person: oneself.
Level II of Maslow’s pyramid involves long-term needs. Here we are talking about the need to have a roof over your head (purchasing a home or at least making a down payment for your own home), financial security. In terms of current demographics, this also includes creating a pension supplement fund.
Level III. Maslow allocates here needs related to belonging to a social group. The expenses that come with starting a family. Now we are thinking about bringing a new member into the world, so the financial support of his needs is added to all the others.
Level IV includes needs for self-esteem, independence, financial freedom, passive income. This level is attributed to a high standard of living: luxury vacations, outings to luxury restaurants, luxury cars, villas and other particular benefits, “special” personal interests, from the category: V.I.P. All of this requires a lot of money.
Level V is attributed to those needs for self-realization. Financially, we are talking about allocating substantial amounts of money for donations, inheritances. At this level, financial support for needs no longer targets a single person, a group, but a community.
Why do you need financial education to achieve your financial goals in life?
Maslow’s pyramid integrates all those needs for which we allocate money; financial needs that are increasing throughout life. To be achieved, they involve not only money, but also financial education. Financial education represents efficient money management. Efficient money management helps us to save and invest in order to quickly and safely advance to the top and fulfill ourselves financially.
We want a lot of things in life. We want to be rich, that is, to reach the last level very quickly. Unfortunately, without realizing the importance of basic needs.
Health is one of the most important pillars in our lives, implicitly in our financial life. If we don’t have health, we can’t move forward, to perfect ourselves financially. Even if we have a luxury car, villa and private plane, health problems darken our joy of owning them. And if the problems are serious, then we will even have to sell them to regain our health. This can happen for our health or for our family members.
In the process of getting rich, we must become aware of the pillars of financial life and strengthen them: money and health. We have seen that if we no longer have health, we must work to regain it and, only then, continue or start over with the accumulation of wealth. What matters a lot is the financial implications of solving health problems. Money and income consolidation represent the other important pillar in our lives. To achieve our needs we need a very simple equation and, as simple as it is, it is as effective:
V(enit) – E(conomii)=Ch(eltuieli)
Fulfillment is achieved over time. If we have little money we need to involve a longer period in which to constitute large sums of money. If we have more money, then the time involved in this process is shorter. At the investment level, there are other processes, strategies that shorten, as much as possible, but not miraculously, the time involved in achieving needs and bring greater benefits.
In investments, we must allocate, in addition to money, time (patience). The effects of capitalization and the implications of the “eighth wonder of the world”, as it was called, show their benefits starting with the eighth year. Fulfilling needs can be achieved through various investments and through the diversification process: allocating money to several investment solutions, in order to maximize profit.
How can you plan to achieve the financial goals in your life?
How much money do we need to achieve ourselves financially? This is the first question we can ask ourselves, then it is necessary to work, save money, invest it in order to be able to support those financial objectives that we have set for ourselves. By working, we earn money that we can save and by investing, we increase our account and support our effort to work, save, invest.
Level I will be achieved and consolidated by protecting your income. Here you work to support yourself. If your health is causing you problems, then it must be protected. By protecting your health, at this stage you are laying the foundations for a solid construction, a fulfilled financial life.
Level II, which aims to build long-term financial goals, involves financial reserves – money for short-term, medium and long-term financial security. The emergency fund that is used in case income decreases or health problems arise must be secured. Then we save to have money to provide a roof over our heads and additional income in retirement. According to the demographic situation, we need to save to ensure a decent living in retirement. Time helps us, even if now, at this level, the contribution is small.
At level III of Maslow’s pyramid, financial involvement aims to allocate money to support the basic needs of another family member. Now we are starting a family and the needs are double. We need to ensure the sustainability of a family and the financial implications target goals such as: a family car, a home of our own, and a more than decent and secure standard of living.
High levels – desires within your financial goals
Level IV involves money for vacations, a bigger house, free time spent in luxury; needs or desires of you and your family. Now money can bring other money and support our future needs due to the increase in the standard of living. Shortening the path to fulfillment can be achieved through diversified investments. These target several options in which money works for you and brings a growing passive income. Investments can be investment funds, real estate or businesses.
Level V brings with it financial relaxation from passive income. Financial freedom gives us the opportunity to make substantial donations, acts of charity, completing the achievement from a financial point of view. Here, inheritance contracts involve considerable material goods for our heirs. Basic needs are ensured, investments provide security for their realization and the needs of others.
Invest in yourself and in the financial goals of your life!
All needs in life require money to achieve them. Financially, we must educate ourselves and be able to support all these needs. It depends on each person at what level they are now: what needs they have and what needs they need to support. We must all be aware that, throughout life, we have needs that require more and more money to satisfy them. We can make money and we can achieve ourselves financially. We can be aware of what needs we have, what needs we will have and what money we have and will be able to have, in the future, so that the financial situation involves more money, more needs fulfilled.
Invest in yourself, then put your money to work for you! Work, save and invest can be the motto for achieving financial needs and desires. Regardless of the stage in life we are in, we need money. And, as the human being is one that requires evolution; financial evolution is also created with the ability to manage money. A solid financial education allows us access to the upper levels of Maslow’s pyramid, providing financial fulfillment. Find out the necessary steps you will take in planning and achieving your financial goals by downloading the e-book at the bottom of the page, right side. https://www.psihologiabanilor.ro/planificare-financiara/
Success in becoming aware of money (and the financial needs in your life)!
©2025 PSIHOLOGIA BANILOR - All Rights Reserved - Powered by 
