Needs, Wants & Wallets! Script

Introduction & Hook: What's in Your Wallet? (10 minutes)

(Display Needs, Wants & Wallets! Slide Deck - Slide 1)

"Good morning/afternoon, everyone! Today, we're diving into a topic that is super important for your life right now, and even more so as you get older: managing your money. I want to start with a question that gets right to the heart of it: What's the difference between something you need and something you want?"

"Take a moment to think about it. What comes to mind when you hear 'need' versus 'want'? Don't overthink it, just share your initial thoughts."

(Allow students to share responses. Guide them towards basic definitions without giving away too much.)

"Great ideas! We often hear these terms, but sometimes it's tricky to really tell them apart, especially when we really, really want something! Today, we're going to clarify that, and then we're going to put that understanding into practice to start building your very own 'budget blueprint.' Why is this important? Because understanding this difference is the first step to being smart with your money, reaching your financial goals, and feeling less stressed about finances. These are skills you'll use for the rest of your life."

Needs vs. Wants Deep Dive (15 minutes)

(Display Needs, Wants & Wallets! Slide Deck - Slide 2)

"Before we go further, let's quickly touch on why budgeting is a superpower. It helps you take control of your money, save for things you really care about, reduces financial stress, and prepares you for a successful future. Who doesn't want all of that?"

(Display Needs, Wants & Wallets! Slide Deck - Slide 3)

"Let's get specific. When we talk about needs, we're talking about things that are essential for your survival and basic well-being. Think 'survival'! Without these, life becomes very difficult, if not impossible. Can anyone give me an example of something that is absolutely a need?"

(Call on students, prompt for examples like food, shelter, water, basic clothing, transportation, healthcare. Guide them if they offer wants.)

"Excellent examples. These are the non-negotiables. You need food to live, a place to sleep, clothes to wear, and a way to get around."

(Display Needs, Wants & Wallets! Slide Deck - Slide 4)

"Now, let's look at wants. Wants are things that make your life better or more enjoyable, but you don't actually need them to survive. Think 'desires'! These are often things we aspire to have, or things that add comfort or entertainment. What are some examples of wants?"

(Call on students, prompt for examples like eating out, new video games, designer clothes, streaming services, etc.)

"Fantastic! So, while you need food, eating at a fancy restaurant every night is a want. You need basic clothes, but a brand-new designer jacket is a want. It's about distinguishing the essential from the extra."

My Budget Blueprint Activity (25 minutes)

(Display Needs, Wants & Wallets! Slide Deck - Slide 5)

"Now it's your turn to apply this thinking. I'm going to hand out a worksheet called 'My Budget Blueprint Worksheet'. On this worksheet, you're going to brainstorm and list different items or services you either spend money on now, or you anticipate spending money on in the future. For each item, you'll decide if it's a Need or a Want, and then, this is the important part, you'll estimate or research its cost."

"For example, you might list 'Lunch' as a need, but then you might think about 'Eating out for lunch' which could be a want, and then estimate the cost. Or, if you use a phone, the phone service itself might be a need for safety/communication, but the latest iPhone model might be a want. Think carefully about each item."

(Distribute the My Budget Blueprint Worksheet).

"You have about 20-25 minutes for this activity. I'll be walking around, so if you have questions or need help brainstorming, just raise your hand. Try to be realistic with your costs. If you're unsure about a cost, make a reasonable estimate."

(Circulate, assist students, and encourage them to think critically about their items and costs.)

Share & Reflect (10 minutes)

"Alright, let's bring it back together. I'd love for a few of you to share one or two items from your worksheet. Tell us what it is, whether you classified it as a need or a want, and what you estimated the cost to be. And importantly, tell us why you put it in that category."

(Call on 3-4 students to share. Facilitate discussion and gentle challenge if classifications seem off, reinforcing the definitions.)

"Thank you for sharing! It can be tough sometimes, right? Our wants can feel a lot like needs. So, what was challenging about this activity? Was anything surprising?"

"Think about this: if you only have a limited amount of money, which is a reality for most of us, how does understanding needs versus wants help you decide what to spend your money on?"

"Exactly! Budgeting is all about making conscious choices. By knowing what you need and what you want, and by understanding the costs of those things, you're taking powerful steps towards managing your money effectively. This isn't just a classroom exercise; these are real-life skills that will empower you to achieve your financial goals and live a more secure life. Keep practicing this distinction as you go about your day!"

My Budget Blueprint Worksheet

Name: _____________________________

Date: _____________________________

Instructions:

Think about the things you spend money on now, or things you will need or want to spend money on in the future (e.g., when you get your first job, move out, etc.).

For each item:

1. List the Item: Write down the item or service.
2. Need or Want?: Circle whether it is a NEED or a WANT.
3. Estimated Cost: Write down how much you think it costs (per week, month, or year – specify!). If you don't know, make your best guess!

Reflection Questions:

1. What was the hardest part about deciding if something was a "Need" or a "Want"? Explain why.
   
   
   
   
   
   
   

2. Were there any items you thought were needs but realized were actually wants (or vice versa)? What changed your mind?
   
   
   
   
   
   
   

3. Why is it important to know the cost of items, even if they are needs?
   
   
   
   
   
   
   

4. If you had a limited amount of money, how would knowing the difference between needs and wants help you make decisions about what to buy?