Life skills // Money & Finance

Needs & Wants

The difference between things we need (food, shelter, clothing) and things we want (toys, treats); that we sometimes have to choose because money is limited

Ages
5 to 7
Type
Concept
Builds on
1 topic
Leads to
5 topics

Quick check

If you showed the learner pictures of a winter coat, a toy robot, and a loaf of bread, could they tell you which ones are needs and which is a want?

Ask this to see whether the topic is secure.

Topic // Mastery

What mastery looks like

What a learner can do once this topic is secure.
  • Sort a set of pictures into 'need' and 'want' categories and explain their choices
  • Give an example of something everyone needs and something that is a want
  • Explain why a family might choose to buy a need before a want

Topic // Map

Where this fits

What to learn first and what this topic opens up, with the reason for each link. Required links come first.
  • RequiredMust come first
  • HelpfulHelps, but not essential

Before this

1 topic
  • What Money IsRequired

    Money & Finance // Ages 5 to 7

    Must understand money exists and is limited before distinguishing needs from wants

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Needs & Wants

Ages 5 to 7 // Concept

Leads to

5 topics
  • Budgeting Pocket MoneyRequired

    Money & Finance // Ages 7 to 9

    Must understand needs vs wants to make budget trade-offs

  • Advertising & SpendingRequired

    Money & Finance // Ages 7 to 9

    Must understand needs vs wants to critically evaluate advertising

  • Making Something to SellHelpful

    Entrepreneurship // Ages 5 to 7

    Cross-domain: needs vs wants (Money & Finance) helps understand what makes a product desirable

  • Saving MoneyHelpful

    Money & Finance // Ages 5 to 7

    Understanding needs vs wants helps motivate saving decisions

  • Fair Trade & EthicsHelpful

    Money & Finance // Ages 7 to 9

    Needs vs wants thinking extends to ethical consumer choices

Life skills // Money & Finance

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