Needs vs Wants Slides Needs vs. Wants
The Foundation of Your Budget
The Survival Backpack
"You are moving into your first apartment. You can only bring 10 items in your backpack to survive the first week."
Discussion Question:
What is the VERY FIRST thing you pack? Why?
Video Game Console
Food for 7 Days
Clean Water
Netflix Account
1 What is a NEED?
Definition:
Something you MUST have to survive, be healthy, or keep your job.
Rent / Housing
Basic Groceries
Electricity / Water
Essential Medicine
2 What is a WANT?
Definition:
Something that makes life more fun or comfortable, but you can live without it.
Movie Tickets
Designer Clothes
Eating at Restaurants
Newest iPhone
The "Must-Pays" (Obligations)
Some things aren't just "survival"—they are obligations. If you don't pay these, there are serious consequences.
Car Insurance
Required by law to drive.
Taxes
Required by the government.
Cell Phone Bill
Required to communicate/work.
Credit Card Min.
Required to keep good credit.
Scenario Challenge!
"You have $100 left for the month. You need Groceries ($80), but your friends are going to a Concert ($60)."
Choice A
Eat well, skip the fun.
Choice B
Go to concert, eat ramen noodles.
Which one is the "Budget Boss" choice?
Need or Want Sorting Worksheet Need or Want?
Independent Living Skills: Financial Prioritization
Name:
Date:
The Mission
You have just moved into your first apartment! You need to decide which items are NEEDS (essential for survival, health, or work) and which are WANTS (fun things that aren't necessary). For each item below, check the correct box and briefly explain why.
Monthly Rent
Keeping a roof over your head.
Need
Want
Why?
PlayStation Plus
Online gaming subscription.
Need
Want
Why?
Weekly Groceries
Healthy food and basic supplies.
Need
Want
Why?
Bus Pass
Transportation to and from work.
Need
Want
Why?
Starbucks Coffee
Morning latte before class.
Need
Want
Why?
Budget Boss Challenge
Imagine you have $20 left at the end of the month. You need to buy a prescription medicine for a cough, but your friend invites you to see a movie . What do you do? Write your choice below and explain why it is the responsible one.
Needs vs Wants Teacher Guide Teacher Guide
Lesson 1: Needs vs. Wants
Lesson Overview
This foundational lesson helps students understand prioritization in budgeting. For students with disabilities, distinguishing between a "desire" and a "requirement" is a critical functional life skill.
Materials Needed
Needs vs. Wants Slides
Sorting Worksheet
Empty Backpack (Prop)
Index Cards
1. The Hook: Survival Backpack (10-15 mins)
Use the physical backpack prop. Ask students to name items they think they need to survive one week in a new apartment. Write them on index cards. If the bag gets too full, force them to "toss" items.Key takeaway: Space (and money) is limited. We must choose.
2. Direct Instruction (15 mins)
Use the Slides to define Needs (Survival, Health, Work) and Wants (Comfort, Fun). Introduce Obligations —the "non-negotiables" like insurance or bills that keep you in good standing.
3. Guided Practice: Sorting (15 mins)
Distribute the worksheet. Complete the first two items (Rent and PS Plus) together as a class. Encourage debate—some students may argue a phone is a "Want," but guide them to see it as an "Obligation/Need" for employment and safety.
Differentiation Support
For Non-Readers: Use picture icons for the sorting activity instead of just text.
For Students with Anxiety: Emphasize that "Wants" are okay to have, but only after "Needs" are covered.
Extended Learning: Ask students to find one item at home that is a "Want" and one that is a "Need" to share next class.
Paycheck Power Slides Paycheck Power
Understanding Your Income
The Mystery Money
Imagine you worked 40 hours this week at $25/hour.
Total: $1,000
How much will actually be in your hand on Friday?
A) $1,000
B) $950
C) $750 - $800
"Wait... where did my money go?"
Gross vs. Net Pay
GROSS PAY
The total amount you earned before any taxes or deductions are taken out.
Mnemonic:
"Gross is Great!" (It's the big number)
NET PAY
The "take-home" pay. The amount left after all deductions are removed.
Mnemonic:
"Net is what you get!"
The "Deduction" Thief
Federal Tax
Money that goes to the US government for roads, military, and more.
Health Insurance
Payments for your doctor visits and medicine.
Social Security
Savings for when people get older or can't work.
"These are subtracted from your Gross Pay to get your Net Pay."
Anatomy of a Pay Stub
Earnings
Hours worked x Pay Rate
Deductions
Taxes, Insurance, Retirement
The Big Finish:
NET PAY
This is the amount you use to write your budget!
Paycheck Analysis Worksheet Paycheck Puzzle
Reading Your Earning Statement
Name:
Date:
Apex Grocery Store Inc.
Employee ID: 44920
Earnings
<table class="w-full"><tbody><tr class="text-sm font-bold border-b border-slate-100"><td class="py-2">Regular Pay (40 hrs @ $15.00)</td><td class="py-2 text-right">$600.00</td></tr><tr class="text-sm font-bold bg-slate-50"><td class="py-3 text-blue-800">Total Gross Earnings</td><td class="py-3 text-right text-blue-800">$600.00</td></tr></tbody></table>
Statutory Deductions
<table class="w-full text-sm"><tbody><tr class="border-b border-slate-100"><td class="py-2">Federal Income Tax</td><td class="py-2 text-right text-red-500">-$45.00</td></tr><tr class="border-b border-slate-100"><td class="py-2">Social Security (FICA)</td><td class="py-2 text-right text-red-500">-$37.20</td></tr><tr class="border-b border-slate-100"><td class="py-2">Medicare</td><td class="py-2 text-right text-red-500">-$8.70</td></tr><tr class="bg-red-50 font-bold"><td class="py-3 text-red-700">Total Deductions</td><td class="py-3 text-right text-red-700">-$90.90</td></tr></tbody></table>
Net Pay (Take Home)
$509.10
Step 1: Investigate the Stub
1. What is the Gross Pay?
$
2. How many hours did they work?
3. What is the biggest deduction?
4. What is the final Net Pay?
$
Step 2: Thinking Like a Budgeter
"The employee needs $550 for rent this week. Based on their Net Pay, can they afford it right now? Why or why not?"
Paycheck Analysis Key Answer Key
Paycheck Analysis Worksheet
Lesson 2: Paycheck Power
Step 1: Investigate the Stub (Answers)
1. Gross Pay
$600.00
Total earnings before deductions.
2. Hours Worked
40 Hours
Listed in the Earnings description.
3. Biggest Deduction
Federal Income Tax ($45.00)
Comparing $45.00, $37.20, and $8.70.
4. Final Net Pay
$509.10
The "Take Home" amount in the blue box.
Step 2: Thinking Like a Budgeter (Guidance)
Scenario: Can they afford $550 rent this week?
"No, they cannot afford it. Their Net Pay is only $509.10, which is $40.90 short of the $550 needed. Even though their Gross Pay was $600, they don't actually get to keep all of that money."
Instructional Tips
1
Emphasize the difference between Gross (Great!) and Net (Get!) throughout the lesson.
2
Discuss that while deductions feel like "losing" money, taxes pay for services the employee uses (public transport, safety, social programs).
Bank Branch Slides Bank Branch
Managing Your Money Safely
? Why use a bank?
Safety
Your money is protected and insured. If you lose your wallet, your bank account is still safe.
Tracking
The bank keeps a record of every penny you spend. This helps you stick to your budget.
The Two Big Accounts
CHECKING
The "Spending" Account
Paying bills
Buying groceries
Using your Debit Card
SAVINGS
The "Growing" Account
Emergency money
Big future goals
Saving for a car
How a Debit Card Works
A Debit Card takes money directly from your Checking Account.
Rules for Safety:
Never share your PIN number.
Cover the keypad at the ATM.
Only use "official" ATMs.
LENNY BANK
5555 1234 5678 9010
YOUR NAME
The Golden Rule
"If you don't have the money in your account, don't swipe the card!"
Overdrawing your account (spending more than you have) leads to FEES and STRESS.
The Ledger Legend Worksheet The Ledger Legend
Transaction Tracking Simulation
Name:
Date:
Your Mission
You are tracking your spending for one week. For every purchase or deposit, you must update your Check Register below. Start with a Balance of $200.00 .
Monday
Buy a lunch sandwich at Subway for $12.50.
Tuesday
Deposit birthday money from Grandma: $50.00.
Wednesday
Buy a new video game at GameStop for $64.99.
Friday
Pay your monthly cell phone bill: $45.00.
Date Description Payment (-) Deposit (+) Balance 01/01 STARTING BALANCE --- --- $200.00
Final Check
Look at your final balance. If you wanted to buy a new pair of shoes for $150.00 on Saturday, do you have enough money? Explain how you know.
Banking Simulation Guide Simulation Guide
Lesson 3: Mock ATM Experience
Purpose
"For many students, an ATM can be intimidating. This simulation builds the muscle memory and procedural knowledge needed to navigate banking menus safely."
1 Preparation
Create a "Mock ATM" using a cardboard box or a laptop screen showing a banking menu.
Provide each student with a physical "Bank Card" (could be a laminated card) and a "Secret PIN."
Print "Transaction Scripts" for students to follow.
Student Simulation Script
Step 1: The Approach
"Look around. Is there anyone standing too close? If not, insert your card."
Step 2: Security
"Place one hand over the keypad. Type your 4-digit PIN secretly."
Step 3: Navigation
"Select 'Withdrawal' from the 'Checking Account'. Choose '$20.00'."
Step 4: Completion
"Wait for your money. When the machine asks, 'Would you like another transaction?', select NO. TAKE YOUR CARD!"
Observation Checklist
Covers PIN while typing
Identifies 'Checking' vs 'Savings'
Removes card immediately
Puts money away before leaving
Shop Smart Slides Shop Smart
The Art of Smart Spending
SALE!
The Brand Battle
"Is a $5.00 name-brand cereal better than a $2.50 store-brand cereal?"
Marketing Tricks:
Fancy Packaging
"Famous" Cartoons
Expensive TV Commercials
The Secret:
Usually, the ingredients are EXACTLY THE SAME!
"Save $2.50 by choosing the generic brand."
The "Unit Price" Hack
Don't just look at the big price. Look at the Small Number on the shelf tag.
SHELF TAG
$4.99
Total Price
15¢ / OZ
UNIT PRICE
Why does this matter?
It tells you which one is actually cheaper per ounce or per item. Sometimes "Big" boxes are actually more expensive than "Small" boxes!
Total Price ÷ Count = Unit Price
3 Rules for Grocery Success
The List
If it's not on the list, don't put it in the cart!
No Hunger
Never shop while you're hungry. You'll buy more "Wants."
Coupons
Use digital apps or flyers to find items that are on sale.
Mission: Grocery Grab!
"You have $20.00. You must buy Bread, Milk, Eggs, and a Treat. Can you do it using Unit Pricing?"
LET'S SHOP!
Grocery Grab Worksheet Grocery Grab
Unit Price Comparison Challenge
Name:
Date:
The Mission
You are at the store trying to get the most for your money. For each category, compare the two items and circle the one that is the Better Value (cheaper unit price).
Category: Milk
Option A
Small Carton (32 oz)
$2.56
Unit Price:
8¢ per oz
Option B
Large Jug (128 oz)
$3.84
Unit Price:
3¢ per oz
Category: Potato Chips
Name Brand
Cool Ranch Chips
$5.00
Pack of 10 bags
Unit Price:
50¢ per bag
Store Brand
Great Value Chips
$3.00
Pack of 10 bags
Unit Price:
30¢ per bag
The "Treat" Rule
You saved $2.00 by choosing the store-brand chips. Now you want to buy a candy bar for $1.50 . Is this a "Need" or a "Want"? Is it okay to buy it now?
Grocery Grab Key Answer Key
Grocery Grab Worksheet
Lesson 4: Shop Smart
Category Comparisons (Correct Answers)
Category: Milk
Option B: Large Jug
3¢ per oz
Buying in bulk is usually cheaper per unit than small containers.
Category: Chips
Store Brand
30¢ per bag
Generic brands offer the same quantity for a significantly lower price.
Reflection: The "Treat" Rule
Teacher Guidance:
"The candy bar is a WANT . It is 'okay' to buy it if the student has budgeted for treats or, as in this scenario, has SAVED money elsewhere (by choosing the store-brand chips). This reinforces that saving in one area allows for freedom in another."
Key Learning Point
The goal of this activity isn't just to find the cheapest item—it's to realize that information (unit prices) helps us make choices that stretch our limited income.
Budget Boss Slides Budget Boss
Taking Control of Your Life
0 Zero-Based Budgeting
In a Zero-Based Budget, every single dollar you earn has a specific "job" to do.
Income - Expenses = $0
Assign your dollars to:
Needs (Rent/Food)
Obligations (Bills)
Wants (Fun)
Savings (Emergency)
Types of Expenses
FIXED
The price is the SAME every month. Hard to change.
Rent
Car Payment
VARIABLE
The price CHANGES based on your choices. Easy to cut!
Groceries
Dining Out
How to Be a Budget Boss
01
List Net Pay
Know exactly what you "get."
02
Pay Needs
Housing and food first!
03
Pay Bills
Obligations and debt.
04
The Rest
Savings and then fun.
Mission: Life Launch
"I will give you a job and an apartment. You must make the math work to survive the month without going into debt."
TIME TO BUILD!
Life Launch Budget Project Life Launch Budget
The Final Financial Plan
Name:
Your Scenario
Job Title:
Monthly Net Pay:
Fixed Cost
Monthly Rent:
Expense Category Type Estimated Cost ($) Rent (Housing) Fixed Filled from above Groceries (Food) Variable Utilities (Elec/Water) Variable Transportation (Bus/Gas) Variable Cell Phone Bill Fixed Emergency Savings Goal Entertainment (Wants) Variable Total Monthly Expenses: $
The "Zero" Check
Subtract your Total Expenses from your Net Pay. What is left?
$
"If your number is positive, put it in Savings. If it is negative, you must cut a 'Want' or 'Variable' expense. Congratulations, Budget Boss!"
Budget Scenario Cards Life Scenario Cards
Cut these out and distribute to students for the final project.
SCENARIO A
Job
Fast Food Crew Member
Monthly Net Pay
$1,850.00
Rent (Studio Apt)
$850.00
"Living alone in a small studio. You walk to work."
SCENARIO B
Job
Warehouse Associate
Monthly Net Pay
$2,400.00
Rent (Roommate Share)
$650.00
"Sharing an apartment with 2 friends. You drive a used car."
SCENARIO C
Job
Dog Groomer Assistant
Monthly Net Pay
$2,100.00
Rent (Suburban Apt)
$1,100.00
"Nice apartment outside the city. You take the bus."
CUSTOM SCENARIO
Write your own scenario here!
