Lesson 2 – Responsible Spending & Needs vs. Wants

Level 2: Lesson 2 – Responsible Spending & Needs vs. Wants

Needs: Things you must have to live comfortably and safely (e.g., food, clothing, shelter).

Wants: Things you would like to have but can live without (e.g., toys, games, gadgets).

Responsible spending: Making wise choices about how you use your money.

Impulse buying: Buying something without thinking carefully about it first.

Comparison shopping: Checking prices at different stores before making a purchase.

Bargain: A good deal or savings on something you want.

Budgeting tools: Apps, charts, or other methods to help you track your income and expenses.

Financial responsibility: Understanding how to manage your money effectively and use it wisely.

Consumerism: The desire to acquire goods and services.

Spending

Needs

Wants

Responsible Spending

Impulse Buying

Comparison Shopping

Bargain

Budgeting Tools

Financial Responsibility

Consumerism

Making your money last isn’t just about being a tightwad – it’s about being a smart adventurer who explores the world of finance with confidence! Here’s why:

Needs Master

Fueling your body and mind with healthy food and school supplies are like packing essential gear for your adventures. They come first, keeping you energized and ready to explore!

Budgeting Buddy

Creating a spending plan is like drawing a map of your financial world. You chart how much you have, how much things cost, and how much fun you can have! Budgeting keeps your journey balanced and avoids getting lost in unnecessary detours.

Smarter Spender

Knowing the value of your money makes you a savvy explorer. You can compare prices, find hidden deals, and avoid impulsive purchases that leave you empty-handed. It’s like discovering the juiciest fruit at the market – you get the most value for your effort!

Want vs. Need Wizard

Not everything sparkly is worth buying! Learning the difference between “needs” and “wants” is like sorting your travel essentials from souvenirs. Needs come first, ensuring you have a safe and enriching journey, while wants can wait for future adventures.

Goal Getter

Having a clear “destination” in mind, like saving for a new skateboard or concert ticket, fuels your motivation. It’s like planting a flag on your map, reminding you why you’re making smart choices with every penny.

Wrap Up!

Remember, responsible spending isn’t about saying no to everything – it’s about making informed choices that keep your adventures exciting and sustainable. So, grab your budgeting compass, navigate the world of wants and needs wisely, and watch your financial journey unfold with every smart decision!