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MoneySmart: needs and wants

Learning objects MoneySmart: needs and wants

TLF ID M017879

This resource is two interrelated activities about distinguishing between needs and wants and shopping for best value. The first level shows Flynn, a young child who needs various items for school. Users choose the clothing and personal items they consider essential. They can swap items and review their choices. The second level involves choosing a new T-shirt for Flynn from three that are available. They look much the same but are priced and advertised differently. Users choose the best one. They can review their choices in response to feedback. The activities are straightforward with simple visual and audio cues.

Tags: Money Smart
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Educational details

Educational value
  • This is a useful resource for children in the first years of school. It is highly relevant for the self-awareness organising element of the personal and social capability. The teacher notes refer to the value of group discussions when the activities are shown on the electronic whiteboard. Working through the activities and discussing their choices with peers and their teacher helps children achieve level 1b of the learning continuum about recognising personal qualities and achievements. This level calls for children to identify their likes and dislikes, needs and wants, and explore what influences these.
  • As well as its value for the general capability, the activities are of use for the National Consumer and Financial Literacy Framework. They support learnings at the year 2 band in two of the three dimensions of the Framework. These learnings include identifying and describing the differences between needs and wants (Knowledge and understanding dimension), and comparing the cost of similar items and describing how advertising can influence consumer choices (Competence dimension).
Year level

F; 1

Topics Advertising Decision making Purchasing Pricing Number lines Needs (Economics) Numerical order Number words
Learning area
  • Mathematics

Other details

Contributors
  • Contributor
  • Name: Education Services Australia
  • Organization: Education Services Australia
  • Description: Data manager
  • Address: VIC, AUSTRALIA
  • URL: http://www.esa.edu.au/
  • Copyright Holder
  • Name: Australian Securities and Investments Commission
  • Organization: Australian Securities and Investments Commission
  • URL: http://www.asic.gov.au/
  • Publisher
  • Name: Australian Securities and Investments Commission
  • Organization: Australian Securities and Investments Commission
  • Description: Publisher
  • URL: http://www.asic.gov.au/
  • Resource metadata contributed by
  • Name: Education Services Australia Ltd
  • Organisation: Education Services Australia Ltd
  • Address: AUSTRALIA
  • URL: www.esa.edu.au
Access profile
  • Unknown
Learning Resource Type
  • Interactive
Rights
  • © Australian Securities and Investments Commission 2015. This material is licensed under a Creative Commons Attribution Non-Commercial Share Alike 4.0 Australia Licence.