Needs and Wants
Aligned to JS:FD-K — Jump$tart National Standards in K-12 Personal Finance Education & Advance CTE Career Clusters.
What this lesson teaches
A need is something you must have to live and stay healthy — food, water, clothes, a safe place to sleep. A want is something nice to have that you could live without. Sorting the two helps you decide what to spend on first when there is not enough money for everything.
Worked examples
Example 1
Food, water, a coat in winter and a bed are needs. A video game, candy and a new toy are wants.
Example 2
Some things are both. Shoes are a need, but shoes with your favorite character on them are partly a want — you needed shoes, you wanted those shoes.
Example 3
If you have $5 and you are hungry, buying lunch comes before buying a toy. Needs get paid first.
Practice questions
- Name two needs and two wants in your home.
- Is a warm coat in winter a need or a want? Why?
- Your family has money for only one thing today: groceries or a movie. Which comes first, and why?
Watch the lesson
Every lesson comes with a video taught in English and Spanish — the same video the QR code in the printed workbook opens.
▶ Watch this lessonEn español
Necesidades y deseos
Una necesidad es algo que debes tener para vivir y estar sano — comida, agua, ropa, un lugar seguro para dormir. Un deseo es algo bonito de tener pero sin lo cual podrías vivir. Separar los dos te ayuda a decidir en qué gastar primero cuando no alcanza para todo.
Ejemplo 1: La comida, el agua, un abrigo en invierno y una cama son necesidades. Un videojuego, los dulces y un juguete nuevo son deseos.
Ejemplo 2: Algunas cosas son las dos. Los zapatos son una necesidad, pero unos zapatos con tu personaje favorito son en parte un deseo — necesitabas zapatos, querías esos zapatos.
Ejemplo 3: Si tienes $5 y tienes hambre, comprar el almuerzo va antes que comprar un juguete. Las necesidades se pagan primero.
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