1. Exploring Values,
Needs & Wants

2. 2.17.2.G1
What are Values?
 Something that is desirable, worthwhile, and important
 Influenced by family, friends, teachers, coaches,
television, and movies
 Each person has different values which guide his/her
daily decisions
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 2
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

3. 2.17.2.G1
Best Friend Advertisement
 Write an advertisement for a best friend
 Include at least five qualities or characteristics you
desire or value in a friend
 Describe why those qualities are important
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 3
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

4. 2.17.2.G1
Needs vs. Wants
 Need - something necessary or required for life
 Brainstorm examples of needs
 Food, water, clothing and shelter
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 4
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

5. 2.17.2.G1
How Much Money Does
A Person Need?
 Families in India earn $1.00 to $2.00 a day.
 Could your family live off $1.00 to $2.00 a day?
 What do you think families in India think they
NEED?
 How do values influence needs?
 You need shelter, but do you NEED a mansion?
 You need clothes, but do you NEED designer clothes?
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 5
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

6. 2.17.2.G1
Needs vs. Wants
 Want - something unnecessary but desired
 May increase the quality of living or make a
person happier
 Brainstorm examples of wants
 MP3 player, Play Station, designer clothes
 How do values influence wants?
 If being popular or having all of the newest gadgets is
valued, a person may have a lot of wants
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 6
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

7. 2.17.2.G1
You Decide!
 Car  Food
 Nike Sneakers  i-Pod
 Hot Tub  Cell Phone
 Computer  Clothes
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 7
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

8. 2.17.2.G1
Spending Money
 How do values influence how people spend
money and make financial decisions?
 If an individual values helping others, he may decide to
give money to a church or other charitable groups
 How do needs and wants influence how people
spend money and make financial decisions?
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 8
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

9. 2.17.2.G1
Remember…
 Value - Something that is desirable, worthwhile,
and important
 Need - something necessary or required for life
 Want - something unnecessary but desired
 A person’s values and perception of needs and
wants influence personal financial decisions!
© Family Economics & Financial Education – Revised April 2007 – Get Ready to Take Charge of Your Finances – Exploring Values, Needs & Wants – Slide 9
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona