Money maths · lesson 21 of 30 · free

Needs and wants — Money maths for kids

A need is something we must have to live, stay healthy and safe, or go to school — food, water, clothes, medicine, school books. A want is nice to have but we can live without it — a new video game or a fancy phone cover. Smart money users pay for needs first.

▶ Watch how it works

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The method

Must have or nice to have? — “a need keeps us healthy, safe or at school; a want is extra”

  1. Ask: can I live, stay healthy and go to school without it? If not, it is a need.
  2. If it is extra or just for fun, it is a want.
  3. Pay for needs first; money left for wants = money − needs.

Use it for: Making a shopping list, spending birthday money, and financial literacy lessons in Class 6–8.

Worked example: For Isha, is “a warm blanket” a need or a want? Need

  1. A warm blanket keeps her healthy in the cold.
  2. She cannot do without it, so it is a need.

Check: Without a warm blanket in winter she could fall ill — so it must come first ✓

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✏️ Practice

Work it out in your head or on paper, type the answer and press Check. Stuck? Press “Show me how”.

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🏁 Lesson 21 test

20 sums. Check each answer, then go to the next one. Get 16 or more right to pass.

🏅 Sign in with Google to earn the 🧺 Need-or-Want Wizard badge when you pass — and a certificate when you finish all 10 lessons of Part 3 · Money sense. You can still take the test without signing in.

🖨️ Needs and Wants Worksheet

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