The document discusses values, needs, and wants and how they influence financial decisions. It defines values as things that are desirable, influenced by others, and guide daily choices. Needs are necessities for life like food and shelter, while wants are unnecessary but desired items. Values shape perceptions of what people need and want. How people spend money depends on whether they value helping others or acquiring possessions.

1. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Exploring Values,
Needs & Wants

2. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
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

3. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
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

4. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
Needs vs. Wants
 Need - something necessary or required for life
 Brainstorm examples of needs
 Food, water, clothing and shelter

5. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
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?

6. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
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

7. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
You Decide!
 Car
 Nike Sneakers
 Hot Tub
 Computer
 Food
 i-Pod
 Cell Phone
 Clothes

8. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
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?

9. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
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!

10. © Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
2.17.2.G1
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!