Do I really need rest days?

I don't think you should do muscle training everyday, your muscles need a rest. On my rest days I take a long walk, do lighter cardio or even yoga. I am like you and don't feel right if I don't exercise everyday.

I get antsy on my rest day too but it's a good idea to have at least one per week but you can make it an active recovery day stretching, walking etc.

OK, I'll be the devil's advocate and say you don't need a full day of rest so long you're not pushing every session. For example, I'm Marathon training so for three days a week I'm upping either intensity or duration and one other run is a slow recovery run. On other days I'll happily power walk or swim for "active rest".

So basically if you're just being social with your badminton or not doing hardcore HIIT on your bike there's no reason you couldn't do something every day so long as at least one of your sessions doesn't push you.

Ok, so I try to exercise everyday, i use my exercise bike and my slam man (punch bag), i also play squash and badminton during the week.
My aim is to trim down and not to be bothered too much about building up muscle, though i realise that i will build muscle mass if exercising lots.

My question is do i need to have exercise rest days?
I mean I always feel terrible if i don't exercise, and not to mention guilty. I also seem to feel hungrier and more prone to give in to eating things i shouldn't.

What do you think?

I'd say if you're doing all that cardio and no weights you wont build muscle mass, the opposite in fact.

If doing weights you shouldnt exercise the same muscles for 48 hours else they havent had time to properly repair and that negates the effort.

I dont have rest days, I do weights 3 times a week and cardio other days.

Ok, just one more question, based on a few comments on this thread, should i be aiming to use the extra calories that i gain through exercise? Currently I don't, unless I'm on a treat day, instead i just bank them as extra calories off?

Yes, MFP is designed so you eat your "exercise calories" and still remain at your target daily deficit and lose weight. I can eat up to 1800 extra calories after a long run and still lose weight! Leave a little wiggle room though, as every method of estimation is prone to a degree of error.

Eat as many of your calories as you can, and take at least one day to "rest". If you feel the need to be active that day to fulfill a mental need or squash some guilt, take a leisurely walk, but don't push it. Whether you are doing cardio or weights, you are using your muscles, and they do go through wear and tear, just like anything in life that is being used.