Budgeting Basics: Needs, Wants, and Spending Choices

Learn the basics of budgeting with this middle-grade worksheet! To start, learners will see how a budget is broken down into income, expenses, needs, and wants. Then, students will identify whether items are needs or wants and make a purchase decision based on their budget. Lastly, learners must answer two reflection questions.

Financial literacy is vital for growing learners, and this activity aims to help students understand how personal budgets can be created and applied in their own lives. This can encourage learners to think through their own spending choices and determine their needs and wants, helping to prepare them for managing more complex budgets in the future.

Continue studying personal finance with Income, Expenses, and Savings: What's the Difference? and Examine a Personal Budget.