1G11 – Making and Saving Money

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Class Summary

Student will learn to understand why we use money and why saving money is important. Students will be able to list some benefits of saving money.

Lesson Slide

1G11 – Making and Saving Money

Main Teaching Points

  • Explain: Difference between a want and a need. You can give examples, such as we need food, but we want ice cream.
  • Describe: The difference between wants and needs.
  • Show: Slides with wants and needs. Students can classify various things as a want or a need.

Discussion Questions

  • What is money?
  • How do we get money?
  • What does it mean to save something?
  • What are some things you save?
  • Why do you think it is important to save?
  • Why shouldn’t you save all of your money? (You might have to buy food.)
  • How can we donate some of our money?

In-Class Activities

  • Make a Piggy: Make a piggy bank and set goals for saving money.
  • Pretend Spending: Have your kids create some pretend money, then give them advertorial flyers from their favorite store and let them ‘spend’ $50 of pretend cash. Review the value of their ‘purchases’ together and discuss budgeting, wise spending, and wants and needs.