Needs and Wants
People have needs and wants. A need is something you must have to live. Food, water, clothes, and a safe home are needs.
A want is something that is nice to have, but you can live without it. A toy, a game, and a treat are wants.
Families cannot buy everything they want. They have only so much money. So they must make choices. A family may spend money on food and a warm coat first. Later, they may save money for a new game.
Knowing the difference between needs and wants helps people choose well.