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Needs & Wants

CONCEPTUAL
Life Skills›Money & Finance|Ages 5—7|ID: mt__ab4knIaSL

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

Mastery Evidence

  • Sort a set of pictures into 'need' and 'want' categories and explain their choices
  • Give an example of something everyone needs and something that is a want
  • Explain why a family might choose to buy a need before a want

Assessment Prompt

“If you showed [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?”

Prerequisites1

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  • What Money Is hard

    Must understand money exists and is limited before distinguishing needs from wants

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