Start with the basics
Needs are things we must have to be safe and healthy — food, shelter, clothing, and medical care. Wants are things we would like to have but could live without. Helping kids understand this difference is one of the most valuable money lessons you can teach early.
Make it a game
The Wants vs. Needs activity cards in our Loonie Learners printables section are a great starting point. Show your child a picture of an item — ice cream, a bicycle, a house, a jacket — and ask them to sort it. There are no trick answers; the conversation matters more than the correct category.
Connect it to real decisions
Next time you are at the grocery store, narrate your decisions out loud. “We need bread and milk. The cookies are a want — we can get them sometimes, but not every week.” Children learn faster through observation than instruction.