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Year 1 Financial Literacy

Needs vs Wants

Learn the difference between things you need and things you want. It helps you make good choices!

What Are Needs?

Needs are things you MUST have to live. Food, water, a home, clothes, and love! Without needs, you would not be safe or healthy.

🍞

Food

💧

Water

🏠

A Home

👕

Clothes

What Are Wants?

Wants are things you'd LIKE to have. Toys, lollies, games, new shoes when your old ones still fit. Wants are fun, but you can live without them!

🧩

Toys

🍬

Lollies

🎮

Games

👟

New Shoes

Needs or Wants?

Is a sandwich a need or a want? A need — you need food!

Is a toy car a need or a want? A want — it's fun, but you don't need it to live.

Sometimes it's tricky to tell!

Making Choices

We can't have everything! Sometimes you choose between two wants. Which one do you want more?

Thinking about needs and wants helps us choose wisely.

Think About It

1. Can you name 3 needs and 3 wants?

2. Is a warm coat a need or a want? (Think about winter!)

3. Why can't we have everything we want?

Knowledge Check

Choose the correct answer for each question. Click "Check Answer" to see if you are right!

Question 1

A need is something you...

Question 2

Which of these is a NEED?

Question 3

Which of these is a WANT?

Question 4

Why can't we have everything we want?

Question 5

A warm jacket in winter is...

Key Concepts Summary

Year 1: Recognising Coins Year 2: Paying for Things