Good mental model, but I feel its intended audience is people who have their basic needs met. You need at least X calories a day (ideally, healthy ones), you need a roof over your head, etc.<p>Keeping that context in mind, recognizing that many of our "needs" are actually "wants" (or at least on a spectrum), and that they are more under our control than income, is a superpower. Especially as your income grows, you adapt to the hedonic treadill and/or are under pressure to keep up with the Joneses.
i think this make sense once you've climbed up a certain amount on the maslow heirarchy of needs. then you can start to make choices about luxuries and must-haves.<p>for me, it's internet access, a warm bed, 3 nice meals, hot running water and peace and quiet (not living with noisy neighbours).<p>those are my needs. assuming good health.