Exploring Values Needs Wants 2 17 2 G

Exploring Values, Needs & Wants

2. 17. 2. G 1 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

2. 17. 2. G 1 Best Friend Advertisement ¡ Write an advertisement for a best friend l l 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

2. 17. 2. G 1 Needs vs. Wants Need - something necessary or required for life ¡ Brainstorm examples of needs ¡ l 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

2. 17. 2. G 1 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? l l 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

2. 17. 2. G 1 Needs vs. Wants Want - something unnecessary but desired ¡ May increase the quality of living or make a person happier ¡ Brainstorm examples of wants ¡ l ¡ MP 3 player, Play Station, designer clothes How do values influence wants? l 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

2. 17. 2. G 1 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

2. 17. 2. G 1 Spending Money ¡ How do values influence how people spend money and make financial decisions? l ¡ 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

2. 17. 2. G 1 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