Needs vs. Wants:  Let’s say you’re in the dentist’s office with your child and you’re waiting for your “turn”.  🙂  You pick up a magazine and start flipping through it. This is the perfect opportunity to play the needs vs wants game. By the way, this works best if you use a child-friendly magazine like Parents or FamilyFun.

“Hey, look at this cool yo-yo. I like the designs on it. What d’ya think? Would they be a need or a want?”

Have your child share with you his thoughts then ask follow-up questions such as: “Why do you think that?” “What is a want?” “What is a need?”

Continue flipping through the magazine: “How about this toothpaste? A need or a want?” “Can you find another example of a need?”

It gets fun when kids have to justify their reasons why they think Lunchables is a need. And, who knows, maybe their arguments will convince you.

A need is something we depend on. A want is something we would like but don’t need. Knowing the difference between needs and wants helps kids prioritize their (and your!) spending.