Good spending habits examples for elementary schoolers

📚 Quick Study Guide

• 💰 Needs vs. Wants: 🤔 Needs are things you *must* have, like food, clothes, and shelter. Wants are things you *like* to have, like toys or candy. Knowing the difference helps you spend smarter.
• 🐷 Saving Money: 🏦 Putting money aside for later is called saving. You can use a piggy bank or a savings account at a bank.
• 💸 Budgeting: 📝 A budget is a plan for how you will spend your money. It helps you make sure you have enough money for the things you need and want.
• 🎁 Sharing: ❤️ Giving some of your money or things to others in need is called sharing or donating. It's a great way to help people!
• 💡 Making Choices: 🤔 When you have to choose between two things, think about which one is more important or will make you happier in the long run.
• ⭐ Goal Setting: ✨ Deciding what you want to save money for, like a new bike or a special toy, can help you stay motivated to save.

Practice Quiz

1. Which of these is a NEED?
   1. A. A new video game
   2. B. A healthy lunch
   3. C. A fancy toy
   4. D. Extra candy
2. What is it called when you put money aside for later?
   1. A. Spending
   2. B. Saving
   3. C. Borrowing
   4. D. Wasting
3. What is a plan for how you will spend your money called?
   1. A. A loan
   2. B. A budget
   3. C. A debt
   4. D. A tax
4. Giving some of your money to help others is called:
   1. A. Spending
   2. B. Saving
   3. C. Sharing
   4. D. Borrowing
5. Which of these is an example of a WANT?
   1. A. A warm coat in winter
   2. B. Healthy food
   3. C. A brand new toy
   4. D. A place to live
6. What can help you stay motivated to save money?
   1. A. Buying things right away
   2. B. Setting a savings goal
   3. C. Borrowing money
   4. D. Wasting money
7. Why is it important to know the difference between needs and wants?
   1. A. To spend all your money quickly
   2. B. To save money and spend smarter
   3. C. To borrow more money
   4. D. To waste money on unnecessary things