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Saving Money

CONCEPTUAL
Life Skills›Money & Finance|Ages 5—7|ID: mt_zrCyqhngYm

Why people save money; piggy banks and saving jars; setting a savings goal; the idea that not spending now means having more later

Mastery Evidence

  • Explain why someone might save money instead of spending it straight away
  • Describe a savings goal they could set and how they would work towards it
  • Tell you what delayed gratification means in their own words (waiting to get something better)

Assessment Prompt

“If [child] received some birthday money, could they explain why it might be smart to save some of it rather than spending it all at once?”

Prerequisites2

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  • Needs & Wants soft

    Understanding needs vs wants helps motivate saving decisions

    • What Money Is hard

      Must understand money exists and is limited before distinguishing needs from wants

  • What Money Is hard

    Must understand what money is before learning to save it

Unlocks2