🐷 Need or Want? Planning My Budget

Hello! Today we will learn to tell a need from a want. Then we will plan our pocket money wisely.

Some things are needed to live. Our tummies get full: that is food. We have a home over our heads: that is shelter. We stay warm: that is clothing. These are called needs.

Then there are wants. A new toy, a game, a bicycle... lovely things! But we can still live without them. Our wants never end, and that is perfectly normal.

Let’s sort them! Bread, a coat and water go in the need basket. A toy, ice cream and a game go in the want basket. Families often set money aside for needs first, and then look at wants.

Maya’s weekly pocket money is $10. Maya splits it into three jars. $6 goes in the spend jar, $3 in the save jar and $1 in the share jar. 6 plus 3 plus 1 makes exactly $10!

Sam wants a toy. It costs $12. If Sam saves $3 every week: week 1, $3. Week 2, $6. Week 3, $9. Week 4, $12! Sam can buy the toy in four weeks. Saving takes patience, but it gets us what we want.

If we write our income and our expenses in a table, we have made a budget. Income is the money that comes in to us: $10 pocket money. Expenses are the money that goes out: notebook $4, snack $2, money box $3, sharing $1. That is $10 altogether. Money left: zero!

A smart shopper thinks while shopping. First they read the label: the price and the use-by date. Then they compare the price of the same product. Most important, they ask themselves: do I really need this?

Like money, water and electricity are limited. We turn off the tap while we brush our teeth. We switch off the light when we leave a room. This is called saving. It is good for the family budget and for nature.

Summary: a need is something we must have to live, and a want is something nice to have. We split our pocket money to spend, save and share. We write income and expenses in a table. We do not waste water or electricity. Now try it in Kroki ve Pusula!