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Similar to Exploring Needs and Wants (20)
Exploring Needs and Wants
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What are Values?
Something that is desirable, worthwhile, and important
Influenced by family, friends, teachers, coaches,
television, and movies
Each person has different values which guide his/her
daily decisions
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 2
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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Best Friend Advertisement
Write an advertisement for a best friend
Include at least five qualities or characteristics you
desire or value in a friend
Describe why those qualities are important
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 3
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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Needs vs. Wants
Need - something necessary or required for life
Brainstorm examples of needs
Food, water, clothing and shelter
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 4
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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How Much Money Does
A Person Need?
Families in India earn $1.00 to $2.00 a day.
Could your family live off $1.00 to $2.00 a day?
What do you think families in India think they
NEED?
How do values influence needs?
You need shelter, but do you NEED a mansion?
You need clothes, but do you NEED designer clothes?
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 5
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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Needs vs. Wants
Want - something unnecessary but desired
May increase the quality of living or make a
person happier
Brainstorm examples of wants
MP3 player, Play Station, designer clothes
How do values influence wants?
If being popular or having all of the newest gadgets is
valued, a person may have a lot of wants
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 6
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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You Decide!
Car Food
Nike Sneakers i-Pod
Hot Tub Cell Phone
Computer Clothes
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 7
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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Spending Money
How do values influence how people spend
money and make financial decisions?
If an individual values helping others, he may decide to
give money to a church or other charitable groups
How do needs and wants influence how people
spend money and make financial decisions?
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 8
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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Remember…
Value - Something that is desirable, worthwhile,
and important
Need - something necessary or required for life
Want - something unnecessary but desired
A person’s values and perception of needs and
wants influence personal financial decisions!
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 9
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona