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Year 1

Do I need that or do I want that?

I know the difference between a need and a want and I can make spending decisions.

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New
New
Year 1

Do I need that or do I want that?

I know the difference between a need and a want and I can make spending decisions.

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Lesson details

Key learning points

  1. There are things that we need and things that we want.
  2. Money doesn’t have to be spent all at once.
  3. Needs should be prioritised over wants.
  4. You need to evaluate spending choices carefully.

Keywords

  • Need - A need is to require something because they are essential or very important, not just because you would like to have them.

  • Want - A want is to have a desire or a wish for something. Sometimes the thing you wish to have is called a want.

Common misconception

Needs and wants are not always as clear-cut as we might like to think. Items that provide help with emotional wellbeing (teddy bears, blankets) are needs for many children, especially at Y1.

Don't shy away from discussing this if it is something that children mention. Needs and wants are very context-specific and subjective - children will want to acknowledge this.


To help you plan your year 1 financial education lesson on: Do I need that or do I want that?, download all teaching resources for free and adapt to suit your pupils' needs...

The situations given in the lesson are ones that might be commonly experienced by children but they can easily be swapped if you think there's a better context to deepen learning for your class. You could group real objects into needs and wants to help children understand.
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Equipment

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Content guidance

  • Depiction or discussion of sensitive content
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Supervision

Adult supervision recommended

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Licence

This content is © Oak National Academy Limited (2025), licensed on Open Government Licence version 3.0 except where otherwise stated. See Oak's terms & conditions (Collection 2).

Lesson video

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6 Questions

Q1.
Laura has 15 p. Which of the following snacks could she afford to buy if she wanted to?
Biscuit - 20 p
Correct answer: Apple - 5 p
Correct answer: Carrot sticks - 10 p
Correct answer: Cake - 12 p
Q2.
Jacob has 20 p. Which of the following mini toys can he afford?
Correct answer: Bubbles - 20 p
Correct answer: Balloon - 15 p
Correct answer: Glow Stick - 10 p
Car - 30 p
Q3.
True or false: Once you spend money, you can have it back.
True
Correct answer: False
Q4.
Which coin has the higher value?
An image in a quiz
Correct Answer: An image in a quiz
An image in a quiz
Q5.
Which coin has the lower value?
Correct Answer: An image in a quiz
An image in a quiz
An image in a quiz
Q6.
What is the total value of these coins?
An image in a quiz
15 p
16 p
Correct answer: 17 p
18 p
19 p

6 Questions

Q1.
Match the items with need or want.
Correct Answer:Food,Need
tick

Need

Correct Answer:Bubbles,Want
tick

Want

Q2.
Match the items with need or want.
Correct Answer:Fruit and vegetables,Need
tick

Need

Correct Answer:New game,Want
tick

Want

Q3.
Match the items with need or want.
Correct Answer:Shoes,Need
tick

Need

Correct Answer:TV time,Want
tick

Want

Q4.
Andeep is at the supermarket. He can only buy one of these items. Which should he choose?
Magazine
Correct answer: Sandwiches for lunch
Chocolate bar
Q5.
Jun is in the toy shop. He can only buy one of these items. Which should he choose?
Correct answer: A present for his brother’s birthday the next day.
A remote controlled car.
A giant jigsaw.
Q6.
True or false. You shouldn’t ever buy what you want.
True
Correct answer: False