Have each student bring in one penny a day for the course of a month, semester or the entire school year. At the end of the time period, have students guess how many pennies are in the jar. Count them out and then ask students to make a list of items that they need for the classroom and a list of items that they want for the classroom. Take a vote to see if the students think they should buy the wanted or needed items.
Put two signs on either side of the classroom. One should say "need" and the other should say "want." Call out a list of items one at a time. Ideas include cell phone, coat, Internet, water, credit card and food. Ask the students to move to the side of the room that represents whether they need or want that item. Have the students defend why they chose their side and listen to the opposing side.
Allow students to make individual collages or work together to create several or one classroom collage(s). The students should go through magazines and cut out pictures of items that people need and items that people want. They will glue the pictures onto construction paper or poster board with the titles "needs" and "wants" on them. When a student says he wants or needs something, ask him to look at the boards to determine if he is using the correct language and if it is really a need.
Distribute a survey with different questions on it that relate to the daily lives of students. For example, ask how they get to school and if they need that method of transportation or if it is just a convenience for them. After they have answered the questions, bring the group into a large discussion. Ask students to share their answers, and brainstorm a list of ways that students can use to determine if something is a need or a want.