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  1. Hey!
    I should try that to help out my mom, cause I doubt that Santa’s going to get that laptop I wanted. See, my mom said if Santa doesn’t get me a laptop, she will get me one.
    So, cross your fingers for me for Santa to came through!
    See you tomorrow!
    mak – makayla

    • We’re crossing our fingers for you, Mak, but we also hope you’ll be really happy with whatever Santa brings you! We think some gifts are awesome when they are in the “needs” category more than in the “wants” one. It’s cool how Santa knows what we really need AND what we really want! :-)

  2. This video taught me how to spend money on things I need, like food, instead of things I want like candy and electronics. THANKS FOR ANOTHER GREAT WONDER, WONDEROPOLIS. I LEARN SOMETHING NEW EVERY TIME I WATCH. GOODBYE!

    • It makes us super happy to know that you learn something new every time you visit Wonderopolis, Dominique! We learn something new here every day, too! Learning together is fun in Wonderopolis, and it helps us become smarter! :-)

    • Thanks so much for letting us know what you thought about today’s Wonder of the Day®, Kimberly! We appreciate your opinion of the video, too! :-)

  3. I liked the video because my friend Jimmy was in it. You are cool, Wonderopolis. I work on cars to get money. I clean the house. I need food.

    • Wow, Josh! Your mom’s boss sounds like a super nice guy! Have you worked on a budget before? Are you saving up your money for something special? :-)

  4. Thanks for the “wonder” today!
    We know that we should save our money, and that there are many ways to make income: doing extra chores around the house, collecting bottles, laundry, and whatever Mom will pay us for.

    We “wonder” what YOU are saving up for?? We all have stuff we are saving up for.

    I wonder what the wonder will be tomorrow! :)

    • Chores are always a GREAT way to earn a little extra money, 5A in Gibbons! We save up for LOTS of things here in Wonderopolis! Special books to read and share, music downloads, vacations with our families, yummy treats that we don’t get to eat every day…there are many things! We like saving up and using our own money to purchase our “wants.” It gives us a great sense of accomplishment! :-)

  5. IIIIIIIIIIIIIIII lllllllllllllllllllllllllooooooooooovvvvvvvvvvveeeeeeee wonderopolis because royalty is awesome to me and wonderopolis.
    Sincerely,
    Taralee

    • Hi, Taralee! We’re so happy that you LOVE Wonderopolis! It’s awesome that you visited this Wonder of the Day® today and learned some cool things about using a budget! :-)

  6. Dear WONDEROPOLIS,
    This was a great WONDER! I learned a lot about budgets. I always have trouble saving money and never have enough to buy what I want, so making a budget would be a good idea for me. Thanks for such an awesome WONDER!

    Saydi from TEAM CAISSE :D

    • We think it’s AWESOME that you are going to try to start using a budget to save for the things you want, Saydi! Please make sure to update us on how your savings are going and what you buy yourself when you’ve saved enough money! :-)

    • That’s SUPER, Davey! We are so glad you visited today’s Wonder of the Day® and learned how a budget works! We hope you have fun saving for that dinosaur toy! :-)

  7. I learned that Alex can buy a bike and jimmy couldn’t buy a bike. Saving and buying something later. I want to buy an xbox 360 with it and a t.v with it, too.

    • We’re glad you have a goal in mind for what you’d like to use your budget to save up for, Ronald! That’s a super smart idea! Good luck with your budget and saving for your goal…we know you can do it! :-)

  8. A budget is when you spend your money on something that you don’t need (candy and chocolate). I WONDER about the next WONDER. Have a WONDERFUI day!

    • It’s true that some people use budgets to save for “wants,” Tomiya! Some grown-ups, though, also use budgets to help them make the best use of their money so they can pay for “needs” (like rent or a house payment, electricity, or food), too! Budgets can help lots of different people in lots of different ways! Thank you for your comment! :-)

  9. I do chores to earn money. I get 5$ or10$. I use my budget for crane machines and candy machines. Sometimes I save my money for legos and video games.

    • Way to go for earning your own money, Noah! We’re super proud of you! Those sound like some really fun “wants” that you use your budget for! :-)

    • Hi, Asher! we really appreciate your suggestion for a future Wonder about satellites! We think it is a GREAT idea! It takes some time to create a Wonder of the Day®, though. We have to research all the best information from many different resources, look high and low for the best videos and links to accompany each Wonder, and make sure everything is just right! Some Wonders take longer to create than others. Thank you for your Wonder suggestion and for being a GREAT Wonder Friend! :-)

    • Thanks for letting us know what you learned by visiting this Wonder of the Day®, KV! It’s OK to spend your money on “wants” instead of “needs” sometimes, you just have to use your budget to help you save for them! :-)

  10. Every time when I try to set up a budget to decrease my expenses and buy my wants, I always can’t help keeping it up. Because once I got my favorite things,I may not so care to save money. I know It’s a bad habit, so I seldom buy things that I want but not need.

    • That is still a WONDERful step forward, Bonnie! We are so proud of you for being able to budget your money! Way to go, Wonder Friend! Keep it up! :-)

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Have you ever wondered…

  • How can you use a budget?
  • What’s the difference between wants and needs?
  • How can you increase income and reduce expenses?

Wonder Gallery

kid-counting-coins_shutterstock_2733262 customhttp://www.dreamstime.com/stock-photo-budget-image17660650http://www.dreamstime.com/royalty-free-stock-photos-muslim-saving-money-concept-image28185028http://www.dreamstime.com/stock-images-cute-little-black-girl-holding-smiling-piggy-bank-african-ch-isolated-white-background-children-image31109864Vimeo Video

Try It Out

Ready to take your learning about budgets to another level? Find a friend or family member to help you explore one or more of the following activities:

  • Can you distinguish between your wants and your needs? Get out some paper and grab a pencil. Make a list of all the things you’ve spent money on in the last week. Don’t just count the money you personally spent. Also count the money your friends and family members spent on or for you. Once you have your list completed, make a new list with two columns: one for wants and one for needs. Classify all of your recent purchases by including them in one of the columns. What did you learn from this exercise? Do you spend more money on wants or needs? If you needed to cut back on spending, what could you eliminate? For a more tips on managing budgets, check NCFL’s Day at Dollar General interactive tools.
  • One way of reaching your financial goals is to set up a budget and make sure you’re not spending more money than you make. If your budget is out of whack, you can cut expenses. Of course, you can also improve your income, too. Brainstorm some ways you can make additional income. Be creative. It’s not always possible simply to get a better job or work longer hours. Can you think of any creative ways you can maximize your income?
  • Up for a challenge? There’s no better way to see how you can use a budget than to set one up for yourself. It’s easy to do. Just grab a pencil and a notebook and get started! If you have access to a computer and know how to create a spreadsheet, you can easily create an electronic budget, too. Depending upon how often you have money coming in, you may want to set up your budget either weekly or monthly. It’s up to you. If you get an allowance once a week, a weekly budget would probably be the easiest way to keep track of things. Write down your income on one side and your expenses on the other. How do they compare? Are you spending all of your money each week? Write down your goal on your budget. If you want to save up enough money to buy a certain item, write down what the item is, how much it costs and how soon you would like to buy it. Based upon your income and expenses, figure out how long it will take you to save for the item you want. For example, if you make $10 each week and spend $5 each week on expenses, you can save $5 per week. If you want to buy new soccer cleats that cost $50, it’ll take you 10 weeks to save enough money to buy them. Discuss your budget with a friend or an adult. Ask them for their help in thinking of ways you can increase income and decrease expenses to reach your goal faster. They might also be able to help you make smart financial decisions. For example, your parents might have a coupon for the shoe store or know of a place where the cleats you want are on sale. If you spend less on the cleats, you’ll be able to save the money you need even faster. Good luck in reaching your goal! If you remember these basic budgeting tips as you grow older, you’ll find that you make smarter decisions and are able to save money for all sorts of things!

Still Wondering

Check out the Budget Blast lesson from iCivics to learn how to develop a realistic personal budget and to distinguish the difference between wants and needs.

 

Test Your Knowledge

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