Spending and Saving Money
About the Spending and Saving Money Lesson
The students identifies the choices people can make about spending and saving their money [banking system].
• The students understand the importance of managing their money earned by working.
1. Teacher instructs at least one daily lesson on explaining the purpose of a bank with respect to a savings account and a checking account. The teacher also explains the term ?allowance? and ?budget? while students write the key words in their journal.
2. Teacher organizes the class into four separate groups. Each group is given a pretend $20 bill from the Monopoly board game [or the teacher can create a pretend $20 bill using construction paper].
3. The group finds four items from their desk and/or backpack to price such as a pencil, a book, an eraser, and a pair of scissors.
4. Students within each group will decide together on a price for each of their four ?products? and write the price on a sticky Post it note and place the note on the product/item.