Teaching kids the difference between needs and wants

11 June 2015 / Published in Your Money

We’re passionate about teaching Kiwi kids to become cash clever, and knowing the difference between needs and wants is a very important skill for kids to have. This is something they may find hard to grasp until you teach them.

Put simply, a need is something you must have to survive; like food, water and a home. A want is something that’s nice to have, but you can actually live without; like an ice cream or a new skateboard.

Watch the video to see the story of Larry the fish – it will help explain the concept to your kids. The video also has an idea for a quiz you can do with your kids to help them further understand needs versus wants.

It’s really important to teach your kids this difference. Cash-clever kids know they have to take care of their needs, before they start thinking about what else they want.

Teaching kids needs versus wants
00:01:31 Play video icon

Thanks to the ASB GetWise programme we’ve helped over 400,000 Kiwi kids become cash clever. Check out the GetWise page for more tip videos and to download fun activities your kids can do at home.


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