Hello, my name is Mr. Tazzyman and I'm really looking forward to today's lesson, which is all about financial education.

We are thinking about money, what it is, how it makes us feel, and the kinds of things that we use it for, how exciting.

Okay, make sure that you are ready to listen, ready to learn, and then we can get started.

Here's the outcome for the lesson then.

By the end, we want you to be able to say, confidently, "I know the difference between a need and a want, and I can make spending decisions." These are the key words that you are gonna hear today.

I'd like you to repeat them back to me.

I'll say my turn, say the word, and then I'll say your turn and you can repeat it back, ready? My turn, need, your turn.

My turn, want, your turn.

Great, here's the outline for the lesson then.

We're gonna start by thinking about needs and wants, and then we're gonna move on to looking at choices.

Today we're gonna meet Andeep and Jun.

They're going to help us by having different conversations, talking through some of their thinking and giving us some prompts and hints where we need them.

Hi Andeep, hi Jun, are you ready? Are you ready? Okay, let's go for it.

Jun is going on a long car journey.

Have you ever been on a long car journey? It can get quite boring sometimes, can't it? Unless there's lot to look at out the window.

"I will take water with me," says Jun.

That seems sensible, doesn't it? "I will take paper and crayons." Hmm, must enjoy drawing, that's a good idea.

That'll help pass the time.

Why has Jun chosen these items then? Well, he will get thirsty and he might get a bit bored.

Which does Jun need and which does he want? Hmm, so if you had to choose one of those as a need, something he definitely needed compared to something he definitely wanted, which would be which? "I need the bottle of water," says Jun.

"I want the crayons." Okay, let's check your understanding so far.

Jun also takes a snack and a pillow.

Which does Jun need and which does he want? Have a think about that and discuss your ideas.

Pause the video here.

Welcome back, the snack is a need and the pillow is a want.

He might need a snack as he goes on his journey.

The pillow he might want for comfort, but he doesn't need it.

It is raining.

"I'm going to jump in puddles," says Andeep.

Good idea, I like jumping in puddles.

"I'm going to dress up as a robot." Ah, that's also a good idea.

You're not going outside then.

Andeep puts on his anorak and his wellies.

Jun puts on his robot outfit and some wellies as well.

What do you notice? Compare those two, what can you see? There's wellies on Andeep and there's also wellies on Jun.

Who needs to wear wellies? Think about what they're doing.

Which of these two needs wellies and which of them wants wellies? Andeep says, "I need to wear wellies." Jun says, "I want to wear wellies." Andeep needs them because he's going to be going in puddles and wellies are designed to stop your feet from getting wet.

Jun wants to wear wellies 'cause he thinks they look good in his robot costume, but the actual waterproof nature of the wellies are not needed.

Okay, let's check your understanding so far.

This time, we've got a pair of gloves and you are going to need to think of a situation where you need gloves and where you want gloves.

So you're gonna complete these sentences.

You would need gloves if.

You might want gloves if.

Pause the video and give that a go.

Welcome back, Andeep has a need example.

He says, "You would need gloves to keep your hands warm." "You might want gloves to play in goal in football." So there are two different examples of the same item being needed or wanted.

Here's task A then for you to have a go at.

For number one, for each thing, think of a time when you might need it and a time when you might want it.

So for A, you've got a glass, when would you need it, when would you want it? For B, you've got a phone, when would you need it and when would you want it? And for C, you've got a stick, when would you need it and where would you want it? For number two, which of these do you need for school? You've got books, comic, clothes, crayons, lollipop, a toy car, and fruit and veg.

Which would you need for school? Pause the video and have a go at those tasks.

I'll be back in a little while for some feedback.

Welcome back.

Well, this is what we thought of.

You might have some different answers.

For 1A, you would need a glass if you were thirsty, so you could fill it with water and have a drink.

For a want, well, you might be playing with something like this.

You'd have to play with it carefully, but you might have a situation where you needed it for play.

Maybe you were pretending to have a drink or having some kind of teddy bear's picnic.

For B, when would you need a phone? Well, you'd need it if there was an emergency and you had to ring 999, but you might want it to be able to take photos.

For C for a stick, you might need it if you've lost a ball in the tree.

That sometimes happens, doesn't it? And you get a big stick and poke it out.

Want, well, you might want it to play with.

Sticks are brilliant to play with.

For number two then, this is what we put, although what I will say is that a lot of these are up for discussion.

It's not always easy to categorise them exactly as a need or want.

For books, we put need or want, for clothes, we put need, for crayons, we put need or want, and for fruit and veg we put need.

Andeep and Jun are gonna explain why for books they put need or want.

Andeep says, "You would need your reading book in school," and Jun says, "You might want to bring in a book to show your friends or teacher." Let's move on to the second part of the lesson then, choices.

Andeep is packing his bag for school.

"I have room for one more thing." You can see there, he's got a toy robot and his pencil case.

"I think you need one of these for school," says Jun.

What do you think? Which of these two items do you think that Andeep would need for school? His toy robot or a pencil case? "I need the pencil case," says Andeep, good choice.

"You want the robot," says Jun, correct.

Okay, let's check your understanding then.

You can pack one of these for a trip to the South Pole.

Which one do you need, gloves or a toy penguin? Hmm, pause the video here and have a think.

Welcome back.

You need the gloves, you want the toy penguin.

Although there are sometimes occasions where you could argue that a toy penguin might be a need.

If you are feeling particularly worried or nervous about something, soft toys like this toy penguin are sometimes really useful and you need them to be able to give yourself confidence and comfort.

Okay, it's time for task B.

Write a list of things to take to the seaside, which are needs and which are wants? We've got a couple of examples here.

Sun cream, is that a need? Yes, it is, 'cause you've got to stay protected against the sun.

Lollipop, that's a want, you don't have to have a lollipop, but it's a nice treat to have at the seaside.

Can you think of some other items then? And decide whether they're needs or wants.

Pause the video and give it a go.

Welcome back.

Here's what we came up with.

This was our list that we might take to the seaside.

Sun cream, a towel, a bucket and spade, you need that to build brilliant sandcastles, a beach ball, always fun to play about with, particularly in the sea, a hat to make sure that you keep the sun off your head, a deck chair, sitting and having a nice relax in a deck chair in the sunshine, lunch, got to make sure you're eating, a lollipop, that's a nice treat to have, and a drink, you've got to make sure you keep drinking, especially when it's hot on the beach.

Now we decided that sun cream was a need, towel was a need, bucket and spade was something that you might want even though it is a really important part of a beach experience.

A beach ball was a want, the hat was a need, deck chair was a want, lunch was a need, lollipop was a want, and a drink was a need.

That was our list, you might have had some other things and some other categorizations as well, and that's okay.

Pause the video here to feed back to one another with your lists and what you decided they would be, needs or wants.

Welcome back.

Here's a summary then of what we've learned today.

There are needs and wants.

Needs are things that are important to have.

Wants are things we would like to have but are not as important.

It is important to think about needs and wants when making choices.

The same thing can sometimes be a need and at other times it can be a want.

I hope you enjoyed that lesson today.

I really did and it got me thinking about what is a need and what is a want.

That can come up in all sorts of different situations and contexts.

My name's Mr. Tazzyman.

I hope to see you again soon for another financial education lesson.

Bye for now.