Teaching kids the difference between needs and wants

We’re passionate about teaching Kiwi kids to become cash clever, and knowing the difference between needs and wants is a very important skill for kids to have. This is something they may find hard to grasp until you teach them.

Put simply, a need is something you must have to survive; like food, water and a home. A want is something that’s nice to have, but you can actually live without; like an ice cream or a new skateboard.

Watch the video to see the story of Larry the fish – it will help explain the concept to your kids. The video also has an idea for a quiz you can do with your kids to help them further understand needs versus wants.

It’s really important to teach your kids this difference. Cash-clever kids know they have to take care of their needs, before they start thinking about what else they want.