Needs vs Wants

Which of these is a need?

• clean air

• new jeans

• cool sneakers

• your favorite candy

Which of these is a want?

• food

• water

• shelter

• smartphone

Where would heavy, warm clothing be a true need?

• nowhere

• everywhere

• in a town with a cold, snowy climate

• in a very big city with a sunny climate

Living on a budget means you

• can never buy anything fun.

• should get everything that you want.

• don’t have to make choices about your money.

• are planning how to spend and save your money.

Which of these is an example of a good?

• a laptop

• an apple

• a backpack

• all of the above

Which of these is not an example of a service?

• babysitting

• mowing the lawn

• a vase of flowers

• fixing your computer

Using money to buy goods and services is called

• spending.

• investing

• wanting

• saving

If you are living on a budget, which of these would you buy first?

• the latest album by your favorite artist

• new sneakers because your old ones have a hole

• that sweatshirt everyone in your school is wearing

• an upgraded phone even though the one you have works

Which of these is an example of saving money?

• putting $10 in a bank

• buying a sandwich for $6

• walking around a toy store

• selling your old jeans for $5

What is the difference between a want and a need?

• A want is more important than a need.

• A need is more important than a want.

• You can never buy things you want, only things you need.

• You can never buy things you need, only things you want.