Lesson
Needs vs Wants and Smart Spending
Students learn how to tell needs from wants and why opportunity cost matters when they spend.
Needs vs Wants and Smart Spending
What students learn
Students learn that needs are the things a person must have, while wants are optional. Open with to set up the comparison.
Why it matters
Money choices get easier when students can sort essentials from optional purchases. gives them a clear example of what can be delayed.
Learn the idea
Every choice has a tradeoff. helps students name what they give up when they choose one thing over another.
Try it
Give the student five items: lunch, shoes, a game, school supplies, and a movie ticket. Ask them to sort each item into needs or wants and explain one tradeoff.
Parent guide
Keep the discussion practical. Ask what would happen if a want came before a need, and let the student explain why some choices should wait.