When the lines between needs and wants are blurred, curbing our spending becomes an impossible task. Teach your children this crucial tool and empower them for life. 

This month’s goal: Showing children how to identify needs and wants. 

Pointers to cover:

• How to tell the difference between a need and a want.
• How to prioritize between needs and wants.
• When a want can turn into a need.
• How to pay for wants that aren’t built into a monthly budget.
  
  

Conversation starters 

For kids under age 9:

• What are some things you need in order to survive?
• Can you list some things you wish you could have?
• Is it more important to pay for the things we need or for the things we want?
• How can we pay for some wants?
  
  

• Can you list all of your wants and needs?
• When can a want become a need? Does it ever happen the other way?
• Why is it important to allow ourselves to have some of our wants?
• Do our needs change throughout our lives?
• Do wants ever fade away?
• Can you think of a plan that can help you buy something on your “want” list?