Lesson
Wants, Needs, and Spending Choices
Summary
Every dollar can only be spent once, and that simple fact shapes every money decision we make. Explore opportunity cost, the difference between wants and needs, and how personal values guide spending choices.
Warm-Up: The $5 Decision
- Ask students what they'd do with a surprise $5 bill
- Call on a few students to share their reasoning
Instruction
- Define wants and needs with class-generated examples
- Discuss how personal values shape spending choices
Share: Want or need?
- Work through the want/need list as a class vote
- Pause on tricky items (bike, phone, shoes) to discuss "it depends"
Activity: Wants and Needs Workbook
- Students complete the Wants and Needs exercise, workbook pg. 9-10
- Students practice identifying wants vs needs while working within limited resources
Wrap-Up & Assessment
- Name one "want" and one "need."
- Share one value you have that could help you make spending choices.
| Est. Time | Activity | Description |
|---|---|---|
| 3 min | Warm-Up: The $5 Decision |
|
| 10 min | Instruction |
|
| 8 min | Share: Want or need? |
|
| 6 min | Activity: Wants and Needs Workbook |
|
| 3 min | Wrap-Up & Assessment |
|
Lesson Prep
Elementary Personal Finance Workbook
Offline activities covering financial vocabulary, budgeting, and saving.
Class Presentation
Includes a 16-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
Presentations, Ready to Go
- Built-in PresentationPresent full screen, straight from Banzai
- Copy to Google SlidesMake an editable copy for your class
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- Teacher NotesSlide-by-slide guidance, printable as one handout
Unit 1: Earning, Spending, and Saving
Be Your Own Boss
Owning a business isn't just about selling things — it's about solving problems for people who'll pay you to fix them. Explore what it means to be an entrepreneur, the difference between products and services, and why taxes take a bite out of every paycheck.
Wants, Needs, and Spending Choices
Every dollar can only be spent once, and that simple fact shapes every money decision we make. Explore opportunity cost, the difference between wants and needs, and how personal values guide spending choices.
Smart Shoppers
Learning how to navigate external influences like peers and advertising, as well as understanding price and quality comparisons, will help you begin to make smart shopping choices based on your own values.
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