How to Teach Kids Wants vs Need Value Of Money #finance #kids #animation

How to Tech Kids Wants vs Need-Value Of Money #finance #kids #animation

In this video, we will explore how to teach kids the difference between wants and needs, and the importance of understanding the value of money. As parents or caregivers, it's important to help our children develop healthy spending habits and make informed financial decisions.

We'll start by discussing the difference between wants and needs, and why it's important to prioritize needs over wants when it comes to spending money. We'll provide examples of common wants and needs that kids might have, and talk about strategies for helping them make good choices about how to use their money.

Next, we'll dive into the concept of the value of money, and why it's important to understand that money has a limited supply. We'll talk about the idea of opportunity cost - the idea that when we spend money on one thing, we're giving up the opportunity to spend it on something else. We'll provide examples of how to talk to kids about the value of money and how to make choices based on that value.

Throughout the video, we'll provide practical tips and strategies for helping kids develop healthy spending habits, including setting goals, making a budget, and practicing delayed gratification. By the end of the video, viewers will have a better understanding of how to teach kids the difference between wants and needs, and help them make informed financial decisions that will benefit them in the long run.

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