Elementary School · Grades 3 to 5 · Unit 1

🐷 Basics of Saving (Core)

Saving money is one of the most powerful habits you can start right now. The earlier you begin, the bigger the reward!

Core Lesson · Unit 1: Money Foundations

Why Save Money, and How to Start

Every time you put money aside instead of spending it right away, you are building your future. Small amounts saved consistently grow into big ones over time.

$ $ $
The Power of Saving

Three Big Reasons to Save 💡

1

Reach Goals That Cost More Than You Have Right Now

A new bike, a book you have been wanting, a special gift, some things cost more than one allowance. Saving week by week turns wishes into real things you can hold in your hands.

2

Be Ready for Surprises

Sometimes things break or unexpected costs appear. People with savings handle those moments without panic. People who spent everything have to go without or ask for help.

3

Money in a Bank Grows All By Itself

Banks pay you extra money called interest just for keeping your savings there. Your money earns more money while you sleep, play, and go to school!

Watch $50 Grow With Interest 📈

You save $50. The bank adds 10% each year. Here is what happens:

You start
After Year 1
$55
After Year 2
$60.50
After Year 5
$80.53 🎉
What is interest? Interest is a bonus the bank pays you for keeping your savings there. The bank uses your money to help others, and shares a little of what it earns with you. The longer you save, the more interest you collect!

Spending vs. Saving 🤔

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Spending

You use money now and get something in return right away. Once spent, it is gone. Great for needs and planned wants you are ready to enjoy!

🐷

Saving

You hold onto money and let it grow. It stays available for bigger future goals. The more you save and the longer you wait, the more you end up with!

The Three Jar Method 🏺

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Save Jar

Set this aside the moment money comes in. Do not touch it until you reach your goal. Even $1 per week is $52 in a year!

🛍️

Spend Jar

Money for things you enjoy right now, a snack, a small toy, a fun outing. Spending money you planned for feels great!

🤝

Give Jar

A little set aside to help others. Giving builds generosity and makes your community stronger.

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Did You Know?

The piggy bank got its name from "pygg", a type of orange clay used in the Middle Ages to make pots where people stored coins. When potters started shaping pygg jars to look like pigs, the piggy bank was born! The habit of saving has been smart for hundreds of years, and still is today.

The Golden Rule of Saving: Save FIRST, before you spend anything. The moment money comes into your hands, put your save amount aside right away. That way saving always happens, not just when there happens to be something left over.
✏️ Check for Understanding: answer both questions to continue
Multiple Choice
1. What is interest?
True or False
2. The best time to put money into your savings is after you have finished spending on everything else.
⬆ Answer both questions above to unlock.