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Year 5

Wants, needs, priorities and influence.

I can explain the difference between what I need, what I want and what others want me to buy.

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New
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Year 5

Wants, needs, priorities and influence.

I can explain the difference between what I need, what I want and what others want me to buy.

Download all resources
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Share activities with pupils
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These resources will be removed by end of Summer Term 2025.

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These resources were created for remote use during the pandemic and are not designed for classroom teaching.

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Lesson details

Key learning points

  1. Different things influence the choices I make with my money.
  2. It is up to you to make decisions about your money.
  3. Needs should be prioritised over wants. Influences need to be carefully considered.

Keywords

  • Influence - Influence means having the ability to change the character or behaviour of someone or something.

  • Influencer - An influencer is someone who promotes or recommends products or a certain lifestyle.

Common misconception

If someone is famous (or wealthy) we should pay them attention.

Just because someone has a lifestyle we might envy or want to emulate, it does not mean that their opinions and values are any more valid than those of our friends and families.


To help you plan your year 5 financial education lesson on: Wants, needs, priorities and influence., download all teaching resources for free and adapt to suit your pupils' needs...

Discuss with the children whose opinions they listen to. Has this changed over time? When we're very young, we listen to our parents most but our friends become more important as we grow up. Ultimately, we have to make choices of our own, think for ourselves and take reponsibility for our actions.
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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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Starter quiz

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6 Questions

Q1.
Find the missing words. __________ the results of an action.
Correct answer: Consequences are
Income means
Earn means
Owe means
Q2.
What does lend mean?
Correct answer: Give someone money temporarily. It will need to be paid back later.
Give someone money. They do not need to pay it back.
The amount of money you earn from doing a job.
Money given to a friend.
Q3.
Jacob lends money to a friend. Before they pay it back, they ask to borrow more. What should Jacob do?
Refuse to lend more until they have paid him back
Hand over the money
Correct answer: It depends on the friend. Does Jacob trust them?
Q4.
What are the problems with lending money?
Correct answer: The money might not get paid back.
A friend might need the money for a very short time and quickly pay it back.
Correct answer: You might need the money to buy something yourself.
They might lend you money when you need it.
Q5.
Complete the good advice. You should only borrow money __________.
Correct answer: from a good friend, a sibling or a trusted adult.
if there's something you really want.
Correct answer: if you can afford to pay it back quickly.
if you already owe someone else money.
Q6.
Jacob wants a football kit. It costs £11.50. Jacob has already saved £8.50. How much money would he need to borrow to buy the kit? £
Correct Answer: 3, three, 3 pounds, 3.00

Exit quiz

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6 Questions

Q1.
What does influence mean?
The place where two rivers meet.
The state of having lots of wealth.
Correct answer: Having the ability to change the behaviour of someone.
Q2.
What is a debt?
Money that you have on you.
Money that is in a safe place.
Correct answer: Money that needs to be paid back.
Money that is not in a safe place.
Q3.
What is the aim of advertising?
Correct answer: Get you to buy a particular product.
To entertain you.
Tell you about the best product available.
To help you make the best choice for you.
Q4.
Aisha has some money to spend. She wants some advice on what to buy. Who would give her the best guidance?
Someone who hardly ever buys anything.
Correct answer: Someone with similar tastes to her.
Someone who's always buying things.
Someone who likes very different things.
Q5.
Jacob lends £1 to a friend. A week later, they ask to borrow more money. Jacob does not have much money. What should he do?
Give them the money and tell them not to worry about paying it back
Refuse to lend the money and never speak to them again
Correct answer: Explain that they need to pay the £1 back before he lends anymore
Correct answer: Lend the money but say he cannot lend anymore until they pay him back
Q6.
Aisha sees a toy she wants for £7.75 She has £5.25 and asks to borrow some money from her mum. How much does she need to borrow? £
Correct Answer: 2.50, £2.50, 2 pound 50 p

Additional material

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