Questions: 1. Based on what we learned, what advice would you give to a Millenial? 2. What is YOUR definition of "spending plan"? Directions: Watch the video and answer the following questions. Video: Needs vs Wants A key part of creating a budget that works for you is determining your needs from your wants. Watch the video to learn more about how you can distinguish between the two. Then, answer the questions. 1. Define Need: 2. Define Want: 3. When deciding if you should buy something, what can you ask yourself to determine if the item is a need or want? 4. Why do you think people spend so much money on their wants despite the financial costs?