WorksheetsNeeds vs. Wants & Smart Spending
Total questions: 32
Worksheet time: 23mins
Which of these is a need?
Concert ticket
Rent
Designer sneakers
Netflix subscription
Which of these is a want?
Groceries
Doctor's visit
Unlimited data plan
Basic cell phone plan
What does it mean to prioritize your money?
Spend it only on fun things
Decide what is most important first
Always save all of it
Give it away to others
If you only have $50, which choice shows a smart priority?
Buying new video game
Paying phone bill
Going to a movie
Ordering delivery food
Which is the best example of a choice between a need and a want?
Paying rent vs. buying groceries
Doctor's visit vs. concert ticket
Taking subway vs. eating food
Buying water vs. paying rent
Which is both a need and a want depending on the situation?
Medicine
Chocolate
Video games
Jewelry
Why is it important to know the difference between needs and wants?
To always buy wants first
To make better spending decisions
To make life more fun
To never spend money
Which of these is a need in winter?
Warm coat
New video game
Concert ticket
Starbucks coffee
Which of these is a want?
Medicine
Rent
Designer handbag
Groceries
What is a budget?
A list of wants
A plan for spending and saving money
A way to make more money
A shopping list
Which expense should come first when prioritizing?
Concert ticket
Rent
Netflix subscription
New sneakers
Which is a want upgrade?
Basic phone plan
Unlimited data plan
Why should savings be considered a need?
For emergencies and future goals
For vacations only
To buy more wants
It is not important
Which of these is a smart financial choice?
Spending all money on wants
Saving some money every month
Buying luxury items first
Never paying rent
If your phone breaks, replacing it is a…
Want
Need
Luxury
None
If your old phone works fine, upgrading to the newest model is a…
Need
Want
Necessity
None
Paying for groceries is a…
Need
Want
Extra
None
Buying candy and snacks every day is a…
Need
Want
Necessity
Why is rent considered a need?
Because everyone likes big apartments
You need shelter to live safely
Rent is optional
To impress friends
Which is an example of prioritizing a need?
Paying for groceries before a concert ticket
Buying sneakers before rent
Spending on Netflix before phone bill
Choosing Starbucks over groceries
What happens if you spend all your money on wants?
You will still have savings
You may not cover your needs
You will be fine
You will get more money
Which choice shows responsible money management?
Setting aside money for savings
Spending all money on entertainment
Ignoring bills
Borrowing without paying back
Which of these is both a want and need depending on the person?
Medicine
Gym membership
Rent
Groceries
Which of these is a fixed expense?
Rent
Concert tickets
Snacks
New shoes
Which of these could be cut if your money runs low?
Rent
Doctor's visit
Netflix subscription
Groceries
Which of these is a fixed expense?
Rent
Doctor's visit
Netflix subscription
Groceries
Which of these is an example of a want rather than a need?
Paying rent
Paying for electricity
Buying a new gaming console
Purchasing groceries
If you have a limited budget, which expense should you cut first?
Streaming service subscription
Groceries
Rent
Medicine
Why is it important to save money before spending on wants?
To avoid paying bills
To impress your friends
To buy more luxury items
To ensure you can afford your needs and emergencies
Which of these is an example of a need rather than a want?
Upgrading to the latest headphones
Buying a designer watch
Purchasing movie tickets
Paying for water bill
If you have to choose between paying for medicine and buying a new jacket, which should be prioritized as a need?
New jacket
Both equally
Medicine
Neither
Which of these is a good example of a want?
Paying for internet service
Purchasing groceries
Paying rent
Buying a concert ticket
