In the following excerpt, the author is attempting to convey the need for people to create an exhaustive list of their needs and wants. He's calling this a "needs and wants" list.
Based on what I've researched, there are a few ways I could introduce this concept of this type of list to the reader:
The use of italics, such as the case when introducing technical concepts or terms for the first time to the reader:
Preparing a needs and wants list is a great place to start when analyzing your life.
The use of quotation marks, just as I used above.
Making a "needs and wants" list helps make everything easier.
Nothing at all, as the concept of a needs and wants list is a familiar concept.
Prepare your needs and wants list tonight.
I'm strongly leaning towards the use of quotation marks, but, despite fervent googling, I can't quite find any specific or consistent examples in a case such as this.