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Days 6 & 7 – Math Models Needs vs. WantsElena Gonzálezelena@mcisd.We often say we need things, but let’s be honest: Most of the time that actually means we just want it reeeeeeeally bad. Let's think about how this kind of thinking can affect our finances.In your own words, what is the definition of an actual need? ____________________________ _____________________________________________________________________________Bonus: If you have access to a dictionary (physical OR online), look up the definition of "need" (noun) and write it here: _________________________________________________________ __________________________________________________________________________________________________________________________________________________________What are some specific (material) things you actually, truly need? ________________________ _____________________________________________________________________________In your own words, what is the definition of a want? __________________________________ _____________________________________________________________________________What are some specific (material) things you want? ___________________________________ _____________________________________________________________________________The thing is, it's totally ok to buy things sometimes just because you want them! But before you buy anything, whether you think you actually need it or know you just want it, you should take a little time to make sure you're spending your money wisely.For example, it's great to spend $150 on a cool pair of shoes IF:(1)you can afford to buy them without using money you need for more important things, and(2)you'll wear them regularly and take good care of them.But it's probably NOT ok to buy them if:(1)you won't have money to buy gas or lunch for the next two months and/or(2)you'll get tired of them in a month and not wear them or not take care of them after that.Before spending your hard-earned money (or your parents' hard-earned money), there are questions you can ask yourself to determine whether the purchase is a wise move at that particular time. These include:Do I truly need this?If so, do I need it today or can it wait a few days/weeks/months?If I don't actually need it, why do I want it? What's drawing me to it?Is it something I'll use more than once?Do I already own something that can serve the same purpose?Is there something similar but less expensive that I could buy instead?What would happen to my life if I don't buy it?Would buying it hinder me from buying something I need or want more than this?Write TWO more questions you could ask yourself to help make a wise decision:______________________________________________________________________________________________________________________________________________________List TWO reasons it's good for you sometimes to get things you just want.______________________________________________________________________________________________________________________________________________________List TWO reasons it's good for you sometimes to NOT get things you just want.______________________________________________________________________________________________________________________________________________________List TWO things you truly need that your parents/grandparents didn't need at your age.______________________________________________________________________________________________________________________________________________________List TWO things your parents/grandparents truly needed at your age that you don't need.______________________________________________________________________________________________________________________________________________________Write 2-3 sentences explaining in SPECIFIC terms (NOT just some vague statement like "because the world has changed"!) why your needs are different from the needs of your parents or grandparents at your age. _______________________________________________ __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ................
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