Understand the idea.
Ask what the person needs now
A need is something important for safety, health or taking part in an activity. A want is something someone would enjoy but can do without in that situation. Read what the person is doing before deciding.
An item can be a need in one story and a want in another. Explain your choice using the story. Different people and families can have different needs, so listen to their reasons.
Plan when money is limited
When money will not buy everything, check what must be bought first. Read its price and compare it with the money available. Spending on something else first might leave too little for the need.
Once the need is met, a person may save money or choose a want they can afford. A sensible answer tells us both the choice and why it fits the person's situation.
See the method in action.
Ready for the activity
Lena must bring a pencil to drawing club. She has two dollars. A pencil costs two dollars and a ribbon costs one dollar. What should she buy first?
Worked solution
- 1
Find what Lena must bring.
The club requires a pencil, so she needs it to take part.
- 2
Check that she can pay for the pencil.
Her two dollars match the pencil price.
- 3
Check what buying the ribbon first would leave.
One dollar would not be enough for the two-dollar pencil.
- 4
Choose the pencil first.
This uses her money to meet the activity need.
The pencil, so she can take part.
When the need is already met
Omar already has drinking water and lunch packed. He has two dollars of spending money. He can save it or buy a two-dollar sticker. Name one sensible choice.
Worked solution
- 1
Check the needs in the story.
Omar already has lunch and drinking water for the trip.
- 2
Choose to save the spending money.
Saving keeps the money available for something he chooses later.
- 3
Explain why another answer can also fit.
The two-dollar sticker also fits his spending money, so buying it is possible if that is his goal.
For example, save the two dollars for something later. Buying the sticker is also possible if that is his chosen goal.
Try it yourself.
Check your understanding
A child has no hat for an outdoor school activity. The school says a hat is required. Is getting a hat a need for this activity?
Show answer & reasoning
Yes.
Yes. The child has no hat and the school requires one for the outdoor activity. Getting a hat meets the stated need to take part safely.
Keep practising
6 worksheet questions
Read the questions online
- Maya needs a pencil for class. She has three dollars. A pencil costs one dollar and a toy costs three dollars. Which should she buy first?
- A shop has a two-dollar drink and a four-dollar toy. Bo has only two dollars and needs a drink. Can Bo buy the drink?
- Ari's lunch is already packed. Ari wants a badge. Is the badge needed for lunch in this story?
- Name one reason a person might save money instead of buying a toy now.
- A class needs paper costing four dollars. It has five dollars. A decoration costs two dollars. Can it buy both? What should come first?
- Jo says, 'Everyone must choose the same want.' Is Jo right? Explain.
Read the worked solutions
- Maya needs a pencil for class. She has three dollars. A pencil costs one dollar and a toy costs three dollars. Which should she buy first?
It is needed for class. The toy would use all her money.
The pencil. - A shop has a two-dollar drink and a four-dollar toy. Bo has only two dollars and needs a drink. Can Bo buy the drink?
The drink costs the same amount as Bo has.
Yes. - Ari's lunch is already packed. Ari wants a badge. Is the badge needed for lunch in this story?
Lunch is already supplied.
No; it is a want in this story. - Name one reason a person might save money instead of buying a toy now.
A sensible answer explains a future goal; other reasonable reasons are acceptable.
For example, to buy a needed item later. - A class needs paper costing four dollars. It has five dollars. A decoration costs two dollars. Can it buy both? What should come first?
Four and two make six, which is more than five. The paper is the stated need.
It cannot buy both. Buy the paper first. - Jo says, 'Everyone must choose the same want.' Is Jo right? Explain.
People can enjoy different things. A sensible choice fits the person's situation and available money.
No.
Curriculum reference & lesson scope
Australian Curriculum v9 and SA Curriculum Mathematics
Year 1 money modelling, needs and wants, simple class enterprise and consequences of financial choices. Activities use supplied pretend prices and whole-dollar amounts.
Official curriculum source ↗