Needs and Wants

Life Skills · Money & Finance · ages 5-7

Name ______________________ Date ____________

Which of these is a want?
- Water
- Toy car
- Winter coat
Which of these is a need?
- Bread
- Toy robot
- Candy
A need is something you must have to stay safe and healthy.
Circle one: True False
Mia's family has a little money this week. They can buy new shoes or a video game. Which should they buy first?
- New shoes
- Video game
- Neither
Look at three pictures: bread, a toy robot, and a winter coat. Which one is the want?
- Bread
- Toy robot
- Winter coat
Sam sorted 5 pictures into needs and wants. 3 were needs. How many were wants?
Answer: ______________
Ana's family has just enough money for rent. Or they can spend it at the toy store. If they pick the toy store, what might happen?
- Nothing bad happens
- They will have more money next week
- They might not have enough money for rent
Leo says a bike is always a need since everyone wants one. Is Leo right?
- Leo is right, bikes are always needs
- Leo is wrong. Wanting something does not make it a need
- Leo is right because bikes cost money

Answer key

For grown-ups. Fold this page away before handing over the rest.

Toy car · A toy car is fun, but you can live without it.
Bread · Bread is food. Everyone needs food to stay healthy.
True · That's exactly right. A need is something everybody must have.
New shoes · Shoes are a need. Needs come before wants when money is tight.
Toy robot · Bread and a coat keep you fed and warm. The robot is just for fun.
2 · 5 pictures total. Take away 3 needs. That leaves 2 wants.
They might not have enough money for rent · Wants can wait, but needs cannot. If money runs out, the family may not pay rent.
Leo is wrong. Wanting something does not make it a need · Wanting something does not make it a need. A bike is still a want.