Key Questions

👉   Why we spend money
👉   Which factors influence our purchase decisions
👉   Different types of spending

Key Concepts

👉   Needs
👉   Wants
👉   Opportunity Cost

Questions about the video "Spending Money"

Students will watch the video “Spending Money” and discuss the following concepts covered:

• How can a spending choice affect your money plans?  
• What’s an example of a small purchase that could add up over time? Over a month? A year?
• What are some ways you can plan your purchases and think about your money goals?

Questions about the video "Wants vs Needs"

Students will watch the video “Wants vs. Needs” and discuss the following concepts covered:

• How can you tell the difference between a need and want?  
• Why is it important to think about future needs when making money decisions?  
• Can you give some examples of your wants and needs?  

Questions about the video "Opportunity Cost"

Students will watch the video “Opportunity Cost” and discuss the following concepts covered:

• Why is it a good idea to think about opportunity costs?
• What are some examples of opportunity costs for your time? For your money?  

Activity 1: Spending Safari

Students will participate in a spending “safari” to explore their favorite type of purchase and determine their motivations or influences. They will be able to identify factors to consider when making money decisions.

Activity 2: Needs vs Wants

Students will learn how people with different incomes and responsibilities can have different or similar wants and needs. Students will be able to identify wants and needs based on income and responsibilities.