(s) Students will be able to: Explain the difference between wants and needs. Apply the concept of wants and needs to their own lives, such as by budgeting and making smart financial decisions that improve their lives now and in the future. Learn how wants and needs change with the times through technological advances. Wants & Needs Needs are usually things like shelter, food, water, clothing, health care, and energy (fuel for heat and light). A need is a requirement or a necessity. Other things are wants. A want is a desire for or something to wish for. The cottage where Herbert Hoover was bo