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Sometimes it's hard to distinguish whether something is a necessity or we just want that thing. Financial Literacy for Kids provides the basics about needs versus wants, budgeting, credit versus debit, and more. The points are easy to follow and understand. By the end, students will receive a good foundation of these points of financial literacy. A need is something that is necessary to survival. Food, water, and shelter are needs because we need those things to survive. Wants include much more, from toys and books to phones and cars. While it can be difficult to tell the difference sometimes, these definitions will help you find the answer. The video also reviews the concepts of saving versus borrowing. Saving money is something we do so that we can eventually buy something we want, like a new bike. This can take time. If you want something more immediately, you can borrow money. Borrowing money, however, means that you have to pay back the money you borrowed over time. And sometimes you h
