Financial Literacy

Spending

Activity Sheets

Download the activity sheets for this lesson by clicking on the button below

Lesson Description

In this interactive lesson, students explore how people use their earnings through a series of games, real-life examples, and discussions. The lesson begins by asking students what people do with their money once they earn it, introducing the concept of 'Spending Money.'

In Part 2, students participate in an identification activity to recognize what we spend our money on, like food, clothes, books, toys, utilities, and housing, with graphics on-screen to aid their understanding. This activity brings awareness of the different necessities in life that require money.

Part 3 introduces the critical financial literacy concepts of 'needs' and 'wants.' 'Needs' are defined as the essential items for survival and well-being, while 'wants' are desirable items that we don't necessarily require for survival. The differences between these two terms are discussed to help students understand that prioritising needs over wants is an important aspect of financial planning.

In Part 4, the lesson takes a playful turn with a 'Needs vs. Wants' game, where students are shown images of items and asked to categorise them as either a 'need' or a 'want.' The game includes a mix of necessities such as water, healthy food, and shoes, and luxury items like ice cream, video games, and movie tickets. This activity reinforces the concept of 'needs' and 'wants,' teaching students to discern between the two when they're planning to use their money.

Finally, Part 5 delves into how to spend money wisely, encouraging students to prioritise their needs and carefully consider their wants. Students are advised to save for their 'wants' and to give themselves a week to think before purchasing something they're unsure about. The lesson wraps up by encouraging students to practise these tips, setting them on a path to becoming smart spenders.

Through these activities, learners are guided to understand the basic principles of financial responsibility, providing them with foundational knowledge for a future of wise financial decisions.

Here's an ad - it's how we make money :)