The primary focus of the benchmarks is to have students understand the concept of saving. You can use the Secret Millionaire's Club SMC Save Your Money Webisode or comic book to introduce the concept.
Learning Background Knowledge of Standards 1) Project Activity 5 (18-20) Piggy Bank Primer: Saving and Budgeting on a screen (or have students read in their individual copies). Students review the concepts of choices, benefits, costs, and opportunity cost from the Buying Goods and Services lesson. Students explain and write about the fact that when people save money, they give up the opportunity to buy things later. 2) Use Activity 7 (24) Piggy Bank Primer: Saving and Budgeting. Students discuss and write about why they can't have everything they want and how they can prioritize their wants (refer to the activity on pages 8-9 where they have to decide which goods and services they can buy now and which ones they must save to buy. |
SAVING
SS.4.FL.3.1 Identify ways that income is saved, spent on goods and services, or used to pay taxes. SS.4.FL.3.2 Explain that when people save money, they give up the opportunity to buy things now in order to buy things later. SS.4.FL.3.3 Identify ways that people can choose to save money in many places—for example, at home in a piggy bank or at a commercial bank, credit union, or savings and loan. SS.4.FL.3.4 Identify savings goals people set as incentives to save. One savings goal might be to buy goods and services in the future. SS.4.FL.3.5 Explain that when people deposit money into a bank (or other financial institution), the bank may pay them interest. |
Decisionomics Activity for Saving
DECISIONOMICS ACTIVITY: How do you make good saving decisions? Revisit the children's literature you used for Buying: Alexander Who Used to be Rich Last Sunday, Those Shoes, or Something Good. Ask the following standards-related questions about spending decisions:
Planning and Goal Setting: Remember what you read in Piggy Bank Primer: Saving and Budgeting. Now use two or more of the following to identify ways people can save money. Where can they save money?
Assessing Outcomes: Discuss your ideas with members of your group. Do you think you made some good saving decisions for the character? What other ideas did you get from others?
Create a Multimedia PSA: Working in small groups, students create a Public Service Announcement (PSA) that identifies at least four saving ideas from the texts listed on this site. Students should plan their PSA:
Additional Lesson Plans:
Saving Strawberry Farm Whiteboard lesson
Planning and Goal Setting: Remember what you read in Piggy Bank Primer: Saving and Budgeting. Now use two or more of the following to identify ways people can save money. Where can they save money?
- Hands on Banking (use the interactive or project the mobile text-based version)
- Help Your Family Save Money (print out the comic)
- The Mint on Saving (print it out)
- Great Minds Think: A Kid's Guide to Money (p. 8 on Saving Money in the Bank)
Assessing Outcomes: Discuss your ideas with members of your group. Do you think you made some good saving decisions for the character? What other ideas did you get from others?
Create a Multimedia PSA: Working in small groups, students create a Public Service Announcement (PSA) that identifies at least four saving ideas from the texts listed on this site. Students should plan their PSA:
- Beginning: Explain the problem and introduce the solution - Hi, we are from Savings for You and we have some advice.
- Middle: Discuss some saving suggestions you found in the texts - Here are some suggestions we have for you so you can save money: (each student writes a suggestion on a cue card).
- End: End with a great slogan or quote about saving.
- Then they can videotape their PSA's.
- Share these with each other, the school, parents, and the greater community.
- For a more scripted PSA, you can use the RWT planning sheet.
Additional Lesson Plans:
Saving Strawberry Farm Whiteboard lesson