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Reflecting on needs versus wants


By thinking about their own expenses, students explore how differentiating between needs and wants can inform daily financial decisions and rules to live by.

Big idea

Understanding the difference between needs and wants helps you to be strategic about your spending.

Essential questions

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


  • Differentiate between needs and wants in daily spending choices
  • Consider how needs and wants influence their spending decisions

What students will do

  • Assess their own spending decisions by completing the “Reflecting on needs versus wants” worksheet.

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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.