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Year 4

What is the difference between wants, needs and priorities?

I can make spending decisions by understanding needs, wants and prioritising.

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New
New
Year 4

What is the difference between wants, needs and priorities?

I can make spending decisions by understanding needs, wants and prioritising.

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Lesson details

Key learning points

  1. It is up to you to make decisions about your money.
  2. Needs should be prioritised over wants.
  3. Prioritising helps you to spend wisely.

Keywords

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

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

  • Priority - A priority is something that you think is more important than other things and should be dealt with first.

Common misconception

Pupils may think priorities are always what you would personally want or enjoy the most rather than being what is best in the context or situation.

Ask the children to share examples of times when they have had to accept not getting what they wanted. Stories about siblings and sharing are often good for this.


To help you plan your year 4 financial education lesson on: What is the difference between wants, needs and priorities?, download all teaching resources for free and adapt to suit your pupils' needs...

Use concrete objects and set up a 'shop' rather than the ones suggested on screen. You could invite children to come up and swap the order of different items around to reinforce that priorities are differ between people and concepts.
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Equipment

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Content guidance

  • Depiction or discussion of sensitive content
supervision-level

Supervision

Adult supervision recommended

copyright

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

Need

Correct Answer:Toy car,Want
tick

Want

Q2.
Alex goes to buy some sweets at the till but realises that he has lost his wallet. Which of these feelings is most likely to describe how Alex might feel knowing his wallet is lost?
Relaxed
Excited
Correct answer: Worried
Q3.
Izzy goes to buy her favourite snack from the shop. They are being sold as a two-for-one deal. Which of these feelings is most likely to describe how Izzy might feel?
Correct answer: Pleased
Cross
Awkward
Q4.
How might this situation make Jun feel? Jun saves up to buy a toy but goes to the shops and realises it’s more expensive than he thought so he doesn't have enough money.
Pleased
Correct answer: Cross
Awkward
Q5.
Andeep is in the toy shop. He can only buy one of these items. Which should he choose?
A fluffy panda.
A board game.
Correct answer: A present for his sister’s birthday the next day.
Q6.
True or false. You should never buy what you want.
True
Correct answer: False

6 Questions

Q1.
Match the words with their definitions.
Correct Answer:Need,Something essential or very important.
tick

Something essential or very important.

Correct Answer:Want,A thing you wish you could have.
tick

A thing you wish you could have.

Correct Answer:Priority,Something that you think is more important than other things.
tick

Something that you think is more important than other things.

Q2.
Imagine you are going camping. Look at the list of items to take and identify which of these is a want and not a need.
Water
Tent
Correct answer: Sweets
Sleeping bag
Q3.
Which of these items is the priority on a long car journey?
Correct answer: Water bottle
Pillow
Tablet for games
Q4.
The lists below are prioritised from most important to least important. If Alex is buying a birthday present for his baby sister, which prioritised list is the correct?
Book, headphones, soft toy
Correct answer: Soft toy, book, headphones
Headphones, soft toy, book
Q5.
Your school has cricket and hockey matches coming up soon. You have a budget of £200 for new equipment. Tick the items your school should choose to buy.
Basketballs £80
Tennis balls £40
Correct answer: Hockey sticks £90
Football goalposts £120
Correct answer: Cricket sets £100
Q6.
Your school has sports day and a football tournament coming up soon. You have a budget of £200 for new equipment. Tick the items your school should choose to buy.
Correct answer: Hurdles £60
Hockey sticks £90
Correct answer: Football goalposts £120
Correct answer: Hoops £20
Cricket sets £100