Needs Needs are things you must have in order to live. (food, water, shelter)
Wants are things you would like but are not necessary in order to live. (cake, sweets, fashionable clothes, mp3 players, computer games) Wants
This is money you have, which you can spend or save. (Pocket money, earnings, birthday money, Christmas money) Income
These are the things that you spend your money on. (Snacks, sweets, games, trips to the cinema, bowling, swimming) Expenses
This is the money that you dont spend right away. You keep it somewhere safe to spend later on something you are waiting to buy. Short-term savings (for a concert, school trip, new clothes/boots) Long-term savings (saving for the future) Savings
How much money do you get every week? Decide how much you will spend. Decide how much you will save – maybe for going on holidays. Budgeting
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