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Financial Wants and Needs: 5th 6th 7th 8th Grade Financial Literacy

Attributes

Subject

Money, Math, Life Skills, Special Resources, Life Studies, Finance, Home Economics, Social Studies

Grades

Grade 5, 6, 7, 8

Types

Worksheets & Printables, Worksheets

File

PDF

Editable

Author

Grace Under Pressure

Rating

Add To Collection

About This Product

Financial Wants and Needs: Middle School Personal Financial Literacy Hands-On Activity

Here’s a financial literacy worksheet to help teach your middle school students (who are in 5th, 6th, 7th, or 8th grade) about personal financial literacy & budgeting while reviewing and solidifying their knowledge of wants vs. needs (which is often a part of your social studies curriculum as well!)

This is an important topic that often never gets explicitly addressed in lessons. Make sure your students can identify things they actually need to survive versus all the wants corporations try to sell us everyday!

How to Use: This lesson is ready to use immediately.

First print 2 pages of worksheets per student. Do NOT double-side, as your students will cut out the words on the 2nd page.
Teach the information on the first page handout. The key terms: budget, financial needs & financial wants.
Give your students time to brainstorm 3 things they spend money on that are financial needs (i.e. new clothes when old ones wear out, groceries, school supplies), and three categories they spend money on that are financial wants (i.e. eating out, new toys, trendy items).
Next, your students will do the cut & paste activity. There are twenty items to cut out: 10 are wants & 10 are needs. Students will sort them and glue them on the t-chart.
Make sure to have a class discussion at the end so students can share their ideas. This is a great way to practice speaking and listening skills. Note that some students may classify some of the items differently than others do and that's not always incorrect! For example, perhaps having a car could be a need where you live if there is not public transportation.

Grades to Use With:

This lesson is made for your middle school students in 5th, 6th, 7th and 8th grade who are learning about early personal finance & financial literacy ideas.
It could be used in your social studies class when discussing wants and needs.
It could even be used in high school life skills classes too!

What's Included: 3-Page PDF

Teacher Instructions & Answer Key
Student Handout
Student Sorting Worksheet