SS06 StoryReels
Personal Finance — Budgets, Saving, and Smart Choices
StoryReel
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Big Question
What is a budget — and why do I need one?
Money is scarce — no one has unlimited money. That means we have to choose how to use what we have. A budget is a simple plan that helps us make those choices wisely — covering our needs, including a few wants, and saving for the future.
Needs vs. Wants
Needs come first — then wants
A need is something you MUST have to be safe and healthy: food, shelter, clothing, and medical care. A want is something extra — nice to have but you could survive without it: toys, candy, games. In a budget, needs come first.
Saving
Why saving matters — little by little adds up
If you save $2 every week, in 4 weeks you have $8. In 10 weeks you have $20! Saving a little at a time is how people afford bigger things — and how they build a safety cushion for surprises and emergencies.
IncomeMoney that comes IN — allowance, gifts, chores
↓
SpendingMoney that goes OUT — for needs & some wants
↓
SavingMoney kept for later — for bigger goals
| NEED (must have) | WANT (nice to have) |
|---|---|
| Food to eat | Candy bar |
| Shoes to wear | Extra special shoes |
| A winter coat | A video game |
| School supplies | Trading cards |
Week 1Save $2 → Total: $2
↓
Week 44 × $2 = $8
↓
Week 1010 × $2 = $20 → Big goal reached!
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WPM
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