Read & Listen: Needs, Wants, & Saving Money
OVERVIEW
On this page, you will read about needs, wants, and saving money.
- First, read the text.
- Then, listen to audio of the text.
READ & LISTEN
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Image Links to an external site. by DFID - UK Department for International Development, CC BY SA 2.0 Links to an external site.; Image Links to an external site. by Andi_Graf, CC0 1.0 Links to an external site.
Read:
Things we need are things that we have to have to live, like food, water, and a home. These are needs.
There are lots of things that we want because they are fun, they make us feel good, or other people have them. These are wants.
We must use our money first for the important things we need. We can save extra money to have some things we want.
Listen:
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Read:
Saving money makes life easier. You can save money for things you want. You can also save money for emergencies. It helps to have a goal. A goal can be short-term. For example, if you want to buy new clothes, you can save for two to three (2-3) months. Then, you can go shopping.
A long-term goal takes more time. For example, you can plan to save money for college or a house. If you have a budget, it helps you save money for your goals. A safe place to save money is in the bank. If you have a savings account, you earn interest. Interest will make your balance grow bigger.