Recently while waiting at an airport gate, Clark was recognized by a young woman who wanted to discuss her money difficulties and credit card debt with the consumer champ.

During the conversation, the young woman paused to take a call on her iPhone. When she returned, Clark asked her how much her iPhone cost each month. She sheepishly confessed it was $130/month!

The penny-pincher suggested it would be a no-brainer for the woman to start getting ahold of her finances by dropping the phone and getting a cheaper one. But she wouldn't consider switching; in her mind, her iPhone was a necessity.

However, the things we consider to be necessities are changing, according to the Social and Demographic Trends Project of the Pew Research Center.

Here are some stats that caught Clark's eye:

• 49% of Americans say a cell phone is a necessity
• 23% say cable or satellite is a necessity
• 8% say a flat-screen TV is a necessity
• Nearly 50% say air conditioning is a necessity
• Some 40% say a microwave is a necessity

And what changes are Americans making in their spending habits?

• Some 66% are shopping at discount stores
• 30% are spending less on cigarettes and alcohol
• 25% are reducing or canceling their pay TV
• 25% are going to a less expensive cellular plan
• Some 20% are growing their own vegetables and doing their own repairs on their cars or home

What's a need and what's really just a want in your life? Write in below and let us know!