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← Money Smart: Weighing Needs & Wants

Grades 2–3 reading level

Money Smart: Weighing Needs & Wants

Adapted with AI from the original open resource by FDIC. Nothing is invented — only the reading level changes.

Lesson 3: Weighing Needs and Wants

What Is This Lesson About?

In this lesson, you will learn about needs and wants.

  • A need is something you must have to live a healthy life. Things like food, water, clothes, and a home (shelter) are needs.
  • A want is something you would like to have, but you could live without it. Things like ice cream, toys, candy, and video games are wants.

You will read fun stories, sort pictures, and make a mini-book about your own needs and wants. You will also learn how to choose what matters most when you can't have everything you want.

Big Questions to Think About

  • What are needs and wants?
  • How do I choose between my needs and my wants?

Getting Started: Needs and Wants in Our Classroom

First, your teacher will read you a story. Two good choices are Lily Learns About Wants and Needs by Lisa Bullard, or If You Give a Mouse a Cookie by Laura Numeroff.

Before reading, guess what the characters in the story might need and what they might want.

Next, your class will make a chart with two sides:

  • One side says "Things We Need for Our Classroom" — like pencils, paper, and desks.
  • The other side says "Things We Want for Our Classroom" — like markers, stickers, and toys.

Look around your classroom. Can you find one item for each side of the chart?

Money Smart Tip: After talking about classroom needs and wants, it helps to think about how everyone can share supplies and take good care of them.

Learning the Difference Between Needs and Wants

Imagine someone is shopping for school supplies. Think about these questions:

  • What might she need to buy?
  • What might she want, but not really need, for school?

Talk about how she might decide what to buy.

Then, you will get a handout called My Needs and Wants Mini-Book. Your teacher will show you how to fill in each page and put the book together. You can write words, or draw and glue on pictures of things you need and want.

Choosing Between Needs and Wants

Can we always get everything we want? Not always! Sometimes we have to choose between a need and a want. Sometimes we even have to choose between two things we want.

Think about the story your class read. What choices did the characters make?

Talk about three things the main character wanted. Then think about:

  • If you were the main character, how would you choose?
  • Which would be your first choice? Your second choice? Your third choice?
  • What made you choose that way?

After talking about the story, you will practice sorting needs and wants. You can do this by:

  • Filling out the Needs and Wants handout, or
  • Playing the Pet Needs Game. Pick a pretend pet, then sort things it might need (like food and water) from things it might want (like toys).

Wrap Up: Class Reflection

Think about what you learned:

  • What are needs and wants?
  • How do you choose between things you need and things you want?

Share your ideas with your class!

More Fun Activities

Reading Corner

Here are some books you might read that connect to needs and wants:

Bunny Money by Rosemary Wells: Max and Ruby want to buy their grandma the best birthday present. But some surprises come up, and they have to spend their saved money carefully.

  • Think about: Do Max and Ruby need to buy a present? What did they need to buy? What did they want to buy? What could you do for someone's birthday if you had no money?

Sam and the Lucky Money by Karen Chinn: Sam gets money for Chinese New Year. He learns he doesn't have enough to buy everything he wants. He learns that some things money can't buy.

  • Think about: What would you buy with a gift of money? Have you ever gotten money as a gift? What did you want most? What did you need?

Almost Zero by Nikki Grimes: Dyamonde really wants red sneakers, but they cost a lot of money! Her mom teaches her about wants, needs, and smart choices.

  • Think about: Have you ever wanted something as much as Dyamonde wanted her sneakers? How do you choose between a want and a need?

Talking and Writing

Think or write about:

  • What is something you need in your classroom or bedroom?
  • What is something you want in your classroom or bedroom?
  • What are three things you want, and three things you need?
  • If you could only pick one thing you want, how would you choose?

Math Corner

Sorting Game: Sort classroom objects (like crayons, toy animals, or a milk carton) into two bags — one for "Needs" and one for "Wants."

Poster Activity: Draw a line down the middle of a paper. Write "Needs" on one side and "Wants" on the other. Cut out pictures from magazines and glue them on the correct side. Then write a number sentence like this:

___ Needs + ___ Wants = ___ Total

Story Problems

Your teacher will show you story problems about needs and wants. You can solve them together as a class or in small groups!

Original licensed under Public Domain. This adaptation is provided free by OER.ai.