Deciding between needs and wants can be tough. Financial Literacy—Needs and Wants explains the difference between needs and wants. But it goes further and describes what opportunity cost is. This will help your kids learn how to make decisions, not between needs and wants, but between wants and more wants.


If Frankie chooses the rollerblades, she will miss out on a movie night with her friends. If she chooses to go to the movie, she will not be able to afford the rollerblades, which will be on sale for one day only. If she doesn't buy them then, she will not be able to get them. There is an opportunity cost tied to each decision. One thing you can do to help you make decisions like this is to create a pros and cons list!

Financial Literacy: Needs, Wants, & Opportunity Costs

financial-literacy-needs-wants-opportunity-costs

Let's do English ESL general grammar practice. Deciding between needs and wants can be tough. Financial Literacy—Needs and Wants explains the difference between…