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Money Matters Blog

Friday, December 15, 2017

School Spotlight: South Canton Scholars Students Learn Needs Vs. Wants

NHA Partnerships with Community Financial
Community Financial’s school partnerships extend to National Heritage Academies in the Plymouth and Canton areas. Our NHA partners include: Plymouth Scholars, Achieve, Canton, and South Canton Scholars Charter Academies.

South Canton Scholars, located on South Canton Center Road, has been a partner with us since 2011. Here are some pictures of SCS fifth and seventh grade students volunteering at their school credit union.
7th grade fall volunteers are ready to assist middle school members.
5th grade fall volunteers actively helping members save their money.
Fifth grade student volunteers making posters and
operating the computer for the Student-Run Credit Union. 

Needs vs. Wants 

Education Partnership Coordinator, Karie Gonczy,
teaching kindergarten students about needs and wants.
What are your basic needs? What do you want? These are important questions that students ponder every day, without even knowing it! These questions come up in speaking with kids at our Student-Run Credit Unions and during classroom presentations with our Education Partnership Coordinators. Frequently, our coordinators help students to be conscious of their needs and wants, and their spending decisions. Do you really need that piece of candy? Do you really want to spend all of your money on a souvenir at Disney world? Do you need to save your money for college? 

Karie Gonczy helping students decide between needs and wants.
Recognizing our needs and wants is a common curriculum goal in Michigan. It is important to have a basic understanding of needs versus wants in applying simple and complex budgeting plans. Students learn through our Student-Run Credit Union program that your basic needs come first (food, clothing, shelter, and water).

After our basic needs are met, you can then begin to get the things that you want. Sounds easy, right?! Well, in our complex world of spending (where credit cards and loans enter the equation), needs and wants may become blurred. That’s why it’s important to have a strong sense of your needs and wants at an early age.

Here are some pictures of South Canton Scholars kindergarten students with their completed needs and wants activity.

Your Turn: What are you saving for? Tell us some of your “wants?” What are some ways that you budget for your needs and wants?

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