Financial Literacy for Kids | Learn the basics of finance and budgeting

What is a need?

• Something you must have to survive

• Something that would be nice to have but you can live without

What are some examples of needs?

Select ALL that apply.

• Food

• Toys

• Somewhere to live

• Clothes to wear

What is a want?

• Something that you must have to survive. 

• Something that would be fun to have but you can live without. 

What are some examples of wants?

Select ALL that apply. 

• Food

• Toys

• Soda

• TV

What is a budget?

• Something that says what you want to buy.

• A plan for managing your money. 

• Spending on whatever you feel like. 

What is income?

• Money earned or received as gifts.

• Money you spend.

What can a budget do?

• Help you spend too much. 

• Help you go into debt.

• Keep you from spending money that you don't have.

What is debt?

• Money you borrowed from someone else that must be repaid.

• Money that was gifted to you. 

• Money you borrowed but DON'T have to pay back. 

What is saving?

• When you spend all your money that you have been putting away over time. 

• When you set money aside for the future and do not spend it right away. 

What are some places that you can put money you're saving?

• Your friend's house

• A piggy bank

• A savings account at a bank

• Your dad's wallet