Needs vs Wants

What You'll Learn

🧠 A new toy is a WANT. Knowing the difference is the first rule of smart money thinking. Here's how to do it: 1. Look carefully at the problem. What do you see? 2. Think about what you already know. Does this remind you of something? 3. Try an answer! It's totally okay to be wrong — that's how we learn. 4. Check: did it work? If not, try something else! You're building your thinking muscles. The more you practice, the stronger they get!

Key Concept: Distinguishing necessities from desires

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Think About This

🎒 You're at school and something happens that involves distinguishing necessities from desires. Your teacher asks the class to think about it. What do you notice? What questions pop into your head?

Thinking Steps

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👀 What Do I See?

Look at the problem about distinguishing necessities from desires. What do you notice?

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🤔 What Do I Know?

What do you already know that could help? Have you seen something like this before?

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💡 What's My Idea?

Think of an answer. Can you think of a second one too?

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⭐ What Did I Learn?

Check your answer. Was it right? What did you figure out? Tell someone!

Key Points

Master distinguishing necessities from desires

Apply financial & real life thinking in real situations

Build habits of financial & real life thinking

Key Vocabulary

Need

Something you must have

Want

Something you'd like but don't need

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Why This Matters in Real Life

Adults use these same skills when they make budgets, go grocery shopping, and save for big purchases like cars and houses.

Talk About It

Discuss these questions with a friend, parent, or classmate.

1Can you explain distinguishing necessities from desires to a friend using your own words?
2What was the most interesting thing you learned today?
3Draw a picture of what you learned and show it to someone!

Check Your Understanding

Question 1

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What is the main idea of distinguishing necessities from desires?