Social Studies: Needs vs. Wants

Developed by Jessica M.

Edited by Miranda C.

Photo of Jessica M

Essential Question

What are your needs and wants?

Background Knowledge

Student should have some idea about saving money, spending money, and earning money (allowance, gifts,  etc).  

Materials

  1. 2 Sheets of paper  
  2. Pencil or marker  
  3. Objects that are gathered around the students room or houses  

Safety Protocol

Students need to be careful when gathering materials. They should ask for permission before taking something that might not belong to them.

Activity Procedure

Step 1: With your parents permission, gather 12 items from your room or from around your house. You can pick any 12 items! 

How do you determine the difference between a need and a want?  

Step 2: Think about the difference between a need and a want. What is different about them? A need is something that you must have to survive (water, shelter, etc.), while a want is something you desire to have (toys, books, etc.). Place the items that you need in a pile and place the items that you want to have in a separate pile.  

What jobs can you do to earn money?  

Step 3: Use your blank sheet of paper to create a T-chart. One side will be labeled need and the other side will be labeled want (see example below). Write down the names of the items in your piles. If you have less than 3 items in your need pile, I challenge you to try and find 2 more items!  

NeedWant

What does it mean to save your money?  

Step 4: Now, think of something you really want. It might be a new toy or new game. 

What jobs can you do to earn money?  

Step 5: Think of different ways that you can earn money to save for the item that you really want. 

Step 6: Write a letter to your parents telling them about the item that you want and your plan to earn that item. Be specific with what you are going to do to earn the item you want.  

 Step 7:  I challenge you to spend the next few weeks trying to earn and save money for something that you really want. Ask your parents, grandparents, or an older sibling for some more ideas on how to earn money.  

Step 8: With parent/guardian permission, share the results of your activity on social media using #AUHomeWorks!