Do I need that or do I want that?
I know the difference between a need and a want and I can make spending decisions.
Do I need that or do I want that?
I know the difference between a need and a want and I can make spending decisions.
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Lesson details
Key learning points
- There are things that we need and things that we want.
- Money doesn’t have to be spent all at once.
- Needs should be prioritised over wants.
- You need to evaluate spending choices carefully.
Keywords
Need - A need is to require something because they are essential or very important, not just because you would like to have them.
Want - A want is to have a desire or a wish for something. Sometimes the thing you wish to have is called a want.
Common misconception
Needs and wants are not always as clear-cut as we might like to think. Items that provide help with emotional wellbeing (teddy bears, blankets) are needs for many children, especially at Y1.
Don't shy away from discussing this if it is something that children mention. Needs and wants are very context-specific and subjective - children will want to acknowledge this.
To help you plan your year 1 financial education lesson on: Do I need that or do I want that?, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 1 financial education lesson on: Do I need that or do I want that?, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
We use learning cycles to break down learning into key concepts or ideas linked to the learning outcome. Each learning cycle features explanations with checks for understanding and practice tasks with feedback. All of this is found in our slide decks, ready for you to download and edit. The practice tasks are also available as printable worksheets and some lessons have additional materials with extra material you might need for teaching the lesson.
The assessment exit quiz will test your pupils' understanding of the key learning points.
Our video is a tool for planning, showing how other teachers might teach the lesson, offering helpful tips, modelled explanations and inspiration for your own delivery in the classroom. Plus, you can set it as homework or revision for pupils and keep their learning on track by sharing an online pupil version of this lesson.
Explore more key stage 1 financial education lessons from the An introduction to money unit, dive into the full primary financial education curriculum, or learn more about lesson planning.
Equipment
Content guidance
- Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
Lesson video
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Prior knowledge starter quiz
6 Questions
Q1.Laura has 15 p. Which of the following snacks could she afford to buy if she wanted to?
Q2.Jacob has 20 p. Which of the following mini toys can he afford?
Q3.True or false: Once you spend money, you can have it back.
Q4.Which coin has the higher value?
Q5.Which coin has the lower value?
Q6.What is the total value of these coins?
Assessment exit quiz
6 Questions
Q1.Match the items with need or want.
Need
Want
Q2.Match the items with need or want.
Need
Want
Q3.Match the items with need or want.
Need
Want