Section outline

  • Financial Literacy

    Over the next few weeks we will be looking at managing money and income. We will explore money, spending, credit & debt, budgeting, saving and investing

    Learning Outcomes
    By the end of this unit you will be able to:
    • Define and give examples of “needs” and “wants”.
    • Explain simple budget choices that prioritise “needs” and “wants”.
    • Create a simple budget for an activity or event, prioritising “needs” and “wants”.
    • Use simple money management tools to monitor a given budget, for example, a spreadsheet.
    • Identify regular financial commitments whānau have to make.
    • Create a budget for a specific activity and timeframe.
    • Identify regular financial commitments individuals/whānau/groups have to make.
    Needs & Wants

    A NEED is a good or service essential for living. We need it to survive. Our basic needs as humans are food, warmth & shelter.

    A WANT is a good or service which people would like to have, but which is not essential for living. Our wants are UNLIMITED!

    All businesses seek to satisfy people's needs and wants. Business success often depends on achieving this and making customers happy.

    Business & Our Lifestyles

    The things we like to have and the things we like to do form our lifestyle.

    Task: For each of the businesses below describe the need or want that they try to satisfy.