1.9 OVERVIEW

The student will recognize that people save money for the future to purchase goods and services.

SUGGESTED INSTRUCTIONAL STRATEGIES

• Read a trade book or create a story that demonstrates a character that is saving money for a specific purpose. Discuss with students how and why the character is saving money.
• Ask the students to think of something they would like to have but are unable to buy.
• Ask students to think about how they might work to earn the money to buy the item. Once they earn some money, what do they need to do if they have not earned enough money for what they want? Discuss saving and why people save. How long do they think it will take?
• Have students write or draw in their journals a list of items they would save for.
• Introduce a sample classroom management technique in which the class as a whole works to earn a reward.
• Review school and classroom rules and expectations for good behavior.
• Discuss the term compliment and what it means.
  -Practice and role-play giving and receiving compliments (review SOL 1.10 on Traits of Good Citizens). -The class can work to earn compliments throughout the day for proper hallway behavior, from resource teachers, cafeteria workers, etc. Brainstorm a list of possible rewards that the class can work to earn (such as extra recess time, Popsicle or popcorn treats, educational video time, etc.) Allow the class to vote for its choice by using a graph system, like in the previous session, or by establishing a ballot box.
  -As the students or the class receive compliments or verbal praise keep track of the number of compliments and save them. Save up to a designated goal and then trade for the reward. Review the concept of saving and link it to choices.
  -Begin the collection and saving of compliments again for another reward.
• Read related stories and/or watch videos and identify characters and situations where money is saved for future purchases.
• Invite a banker, accountant, or financial advisor to visit the class and talk about savings and/or visit a bank.
• Incorporate a weekly classroom store where students earn “money” or points that they can save or spend on prizes or incentives.
• Create a classroom bank or let students create and role-play with a bank with play money as a learning center.

WEB SITES

http://www.pen.k12.va.us/VDOE/Instruction/info.pdf
This Virginia Department of Education resource provides a discussion of the concepts and principles in the economics strand of the History and Social Science Standards of Learning.

http://www.econedlink.org/lessons/index.cfm?lesson=EM318
This EconEdLink lesson will help students understand that work is a source of income. They will identify banks as places where money can be saved and recognize that banks serve the vital function of keeping money safe.

http://www.practicalmoneyskills.com/english/at_school/teachers
This resource, sponsored and developed by VISA, presents a series of lessons and activities designed to help students understand what money is and make decisions about spending by introducing children to the concept of placing money into categories and learning to plan for spending decisions.

http://www.moneymanagement.org/Education/Resources/Bears/index.asp
Here is a lesson on savings from The Berenstain Bears’ Trouble with Money.

http://www.moneymanagement.org/Education/Resources/Kermit/index.asp
Here is a lesson on saving from Kermit the Hermit.

http://chumby.dlib.vt.edu/melissa/posters/firstposter.html
Social studies curriculum resources poster sets are available for grade one.

LITERATURE LINKS

Saving money for goods and services

Axelrod, Amy. Pigs Will be Pigs. New York: Aladdin Paperbacks, 1997. A hungry pig family turns the house upside down looking for enough money to buy dinner at a local restaurant.

Trapani, Iza.
How Much is that Doggie in the Window?. Whispering Coyote Pr, 2001.
Longing to buy a special puppy, a boy tries to find the money he needs.

Viorst, Judith.
Alexander, Who Used to be Rich Last Sunday. New York: Aladdin Books, 1988.
Alexander tries to save his money for a major purchase, but soon discovers all the things he can do with a dollar.