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Budgeting for needs and wants


Students explore the difference between needs and wants and practice making budget choices.

Big idea

Understanding the difference between needs and wants can help you make spending decisions that are best for you.

Essential questions

  • How can you tell the difference between a need and a want?
  • How does understanding the difference between needs and wants help you make financial decisions? 


  • Differentiate between needs and wants in daily decision-making
  • Consider how needs and wants influence spending decisions

What students will do

  • Identify the difference between needs and wants.
  • Practice making budget choices based on needs and wants.

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Teacher guide


Student materials


Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.