Needs and Wants
Welcome Back to ELO! For the next few days, we are going to be learning about something called economics. We will share activities to help you understand the difference between needs and wants, between goods and services, and about why and when people might spend or save money.

Today’s Activities

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Something Good

Before reading, Something Good, think about the times that you have been to the grocery store with a grown-up.

  • What kinds of things do they sell in the grocery store that you like?
  • Are there some things that grown-ups buy that you don’t like?

Follow along with this funny story about a little girl named Tyya, who wants her dad to buy “good” food at the store.

Can you think of a time that you really wanted something from a store and someone did not buy it for you?

What might be a reason that people can’t always buy something that they want? You’re right! One of the biggest reasons is that they might not have enough money. You will practice shopping today in math activities.

Tyya’s dad didn’t buy everything that Tyya put in the cart. Did you know that there are three different ways to spell the word buy? Homophones are words that sound the same but mean something different. Watch this GoNoodle to review homophones.

Choose a pair of homophones from this list. Write a sentence and draw a picture for each word in one pair.

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Pretend Store

Do you think Tyya’s dad had enough money for the 100 boxes of ice cream and 300 chocolate bars?

Today, you will set up a pretend store. Price and label some household items using even dollar amounts. $1, $3, $5, etc. Post-it notes would work great for price tags if you have them.

Pretend you have $20 to spend. What combinations of items in your pretend store could you buy?

Go shopping again, but this time, only bring $10 with you. How would this change what you could buy?

If you have extra time today, you can review coins and their values. Use this worksheet to decide what you can buy with the coins you have.

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Needs vs Wants

In today’s story, Tyya’s dad probably would have liked to buy more than he did, too.

Instead, he focused on buying things that his family needed.

  • The things that we need and the things that we want can be very different.
  • Needs are defined as things that we must have in order to survive, such as food, water, and shelter.
  • Wants are things that we would like to have but don’t need for survival.

Use this needs and wants sort to help review the difference.

Challenge: Pretend that you won a free trip to a destination of your choice. Here’s the catch. You can only bring TEN items in your suitcase. You can bring five items that would be considered a need and five items that would be considered a want. Draw a big suitcase. Inside, using words or pictures, write or draw your five needs, and five wants.

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Just Dance!

Now, we have learned about the differences between needs and wants.

You may have to work extra hard in your life to achieve some things that you want. Don’t give up, always have high hopes and Just Dance!

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Piggy Bank

Make your own piggy bank.

Ask a grown-up to help you choose a jar or container to collect your money. (You could use a mason jar, tissue box, pringles tube, etc)

You may use anything you can think of to decorate your piggy bank. (paper, stickers, glitter, magazine cut-outs, etc)

When your piggy bank is finished, take a picture and send it to your teacher.

Now, you can start saving so you can buy something that you really want!

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