In today’s world, it is increasingly vital to teach kids the importance of spending and saving money. Elementary students need a good foundation of financial literacy to build upon their entire lives, so keep reading for some great spending and saving money activities for kids!
Low-Prep Spending and Saving Money Activities for Kids
Our students must learn why we spend and save money. We have to be able to buy the things that we need as well as save money for our future. Most of us don’t come into this life as trust fund babies, and we need to learn that the things we need have to be purchased before the things we want. It is never too early to teach your students how to save money to buy the things they want.
Vocabulary Posters and Activities
When I start a unit on spending and saving money, I like to first focus on vocabulary. I begin by teaching my students the words save and spend. Save means keeping your money in a safe place so that it can be used to buy things we want down the road. Spend means using your money to pay for the things you need or want.
I have a resource tailored to this topic exactly. Myhelp your students understand and apply the use of money in our world. If digital activities are more your speed, I have you covered as well with theseEconomic Spending and Saving Money Digital Activities.
By using these fun spending and saving activities for kids, your students will be able to apply what they learn in your lessons to real world applications. These lessons cover key concepts for basic economics for kids: the differences between needs and wants, saving and spending, as well as the importance of having a job, a bank, and making responsible choices with money. Included with the lessons are posters with vocabulary words and activities to practice how to use money.
Books and Nonfiction Readers
In addition to worksheets, vocabulary, and practice sheets on how money is spent in the real world, there are some great books to help your students understand the importance of spending and saving money.
Here are a few of my favorites:
A Chair for My Mother by Vera B. Williams
After a fire, friends and neighbors are quick to help a young girl and her mother furnish a new apartment. There is something missing, though. There is nowhere comfy and cozy for the girl’s mother to sit after a long day at work on her feet. The young girl quickly learns the value of money as she tries to earn and save enough to buy the missing furniture for her mother.
Coat of Many Colors by Dolly Parton
When a family couldn’t afford a new coat for a young girl, her mom sewed one from rags. Despite being made fun of for the coat, the girl comes to realize that there is love and memories sewn into every scrap of that coat.
When Times are Tough by Yanitzia Canetti
Even though times are tough and there isn’t enough money for all the things that this family wants, their love brings them together. They have what they need and what they don’t have, they make up for together.
Brainstorm Ways to Save
Next, get your students involved in really understanding how to make an economic plan. Brainstorm ways that they could save money in their own lives. You will get all kinds of answers, and your students will spark ideas in each other about what they could live without in their lives. This activity may even get conversations started at home and help your students’ parents with their financial plans!
Make a Savings Plan
Once your students have an idea of where they can save money and not spend so much, they can start a savings plan. Having a clear idea of what your students are saving for will help them stick to their goals. The savings planning sheet helps lay it all out. Your students list what they want to buy, how they can make money, and how they can save that money until they have enough to purchase what they want.
Practice Identifying Saving and Spending
In these economics for kids resources about spending and saving money, you will find all sorts of great information. Use the bundle packageEconomics Saving and Spending Money Worksheets and Digital Activities Bundlefull of google slides and physical worksheets, posters, and activities to really cement the importance of spending and saving money for your students. Throughout these resources, there are lots of great ways to practice identifying saving and spending.
FREE Social Studies Curriculum Pacing Guide
If you’re looking for even more social studies curriculum ideas beyond spending and saving money activities for kids, be sure to sign up for my year-long social studies curriculum pacing guide. It’s aFREEBIEfor you and will help you keep on track for social studies with your students.
Low-Prep Spending and Saving Money Activities for Kids
The spending and saving money activities for kids in this post are from my Spending and Saving Money Worksheet pack.
Click HERE for the printable unit and HERE for the digital version. OR save money by purchasing the paper and digital bundle HERE.
Also, be sure to save this post by pinning this to your Pinterest account. That way, you can easily come back to these ideas when you are ready to teach your class about saving and spending money.
For More Social Studies Activities, Visit These Posts!
NEW ECONOMICS BARTER AND TRADE WORKSHEETS (YOU WILL LOVE)
SIMPLE WAYS TO TEACH GOVERNMENT SERVICES ACTIVITIES FOR KIDS VIRTUALLY
5 IMPORTANT CHARACTER EDUCATION TOPICS TO TEACH
