🧰 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
Typical age: 5–7 years
“If you showed your child 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?”
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- Making Something to Sell
Cross-domain: needs vs wants (Money & Finance) helps understand what makes a product desirable
- Fair Trade & Ethics
Needs vs wants thinking extends to ethical consumer choices
- Advertising & SpendingREQUIRED
Must understand needs vs wants to critically evaluate advertising
- Budgeting Pocket MoneyREQUIRED
Must understand needs vs wants to make budget trade-offs
- Saving Money
Understanding needs vs wants helps motivate saving decisions