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A review lesson where students apply everything they learned about needs, wants, and choices.
Imagine you have $\$5$ in your pocket. You see a delicious chocolate bar AND a pair of warm mittens for the snow. You can only pick one. How do you decide which one is more important?
Every day, we use things to help us live. Some things are needs. These are things we must have to stay safe and healthy, like water, healthy food, a home, and clothes. Other things are wants. These are things that are fun to have, but we can live without them. Examples of wants are toys, stickers, and ice cream. When we understand the difference, we can make better decisions with our money.
Quick Check
If you are very thirsty, is a glass of water a need or a want?
Answer
A glass of water is a need because our bodies must have water to stay alive.
Since we don't have enough money to buy everything in the world, we have to make a choice. A choice is when you pick one thing over another. When you choose to spend your money on a want, you might not have enough left for a need. Being a 'Smart Chooser' means looking at your options and picking the one that is most important right now.
1. Sam has $\$1\ and a shiny sticker for $\$1$.
4. Sam chooses the apple.
5. This is a smart choice because the apple is a need that helps his hunger, while the sticker is just a want.
Quick Check
What happens to the other option when you make a choice?
Answer
When you make a choice, you give up the other option because you cannot have both.
Sometimes, the thing we need or want costs more money than we have today. This is where saving comes in! Saving means putting your money away in a safe place, like a piggy bank, instead of spending it. By saving a little bit of money every day, like $\$1 + \$1 + \$1$, you will eventually have enough for something big. Saving is a choice to wait so you can get something even better later.
Maya wants a new bike that costs $\$50\ today.
1. Maya sees a cool toy car for $\$5\ for my bike.'
3. Maya chooses to save her $\$5\ closer to her big goal of buying the bike!
Leo has $\$20\.
2. Leo also really wants a new space robot game (a want). The game costs $\$20$.
3. If Leo buys the game, his feet will be cold and wet in the snow.
4. Leo chooses the boots. He justifies this by saying, 'I need to stay warm to stay healthy. I can save my birthday money later for the game!'
Which of these is a NEED?
If you have $\$2$ and you spend it all on candy, how much do you have left to save?
Saving money means spending it as fast as you can.
Review Tomorrow
Tomorrow, look around your house and try to find three things that are 'needs' and three things that are 'wants'.
Practice Activity
Start a 'Goal Jar.' Write down one thing you want to save for, and draw a picture of it to keep near your piggy bank!