For parents
Needs vs wants: how to explain it to young children
“Need” and “want” are two of the first money words a child can understand. A need is something we must have to stay safe and healthy. A want is something nice to have, but we can live without it.
Use real things from your home
Water, food, a blanket and medicine are needs. A new toy, a balloon or a second ice cream are wants. Point to real things rather than pictures.
Play “Need or Want?”
Say an object and let your child shout “Need!” or “Want!”. Swap roles so they test you too.
Accept that some things are both
Shoes are a need; sparkly shoes with lights may be a want. It is fine for a child to say “a bit of both” – that is real thinking.
Link it to choosing
When there is only enough money for one thing, we buy the need first. Use a small example: one coin, a glass of milk or a kite.
Don’t make wants sound bad
Wants are not wrong. We often save for them, and that makes getting them even better.
Book 3, The Kite or the Milk?, tells this story through Plodu, who has ten coins and must choose between a blue kite he wants and the milk and bread his family needs. Read it together and ask: what would you have chosen?
