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Big Banks, Piggy Banks
Source: Council for Economic Education (EconEdLink) | Type: Lesson
When choosing a place to put their money, people consider how safe there money will be, how easy it is to access, and whether it will earn more money. Students explore how well different savings places achieve these objectives. Students learn that people who don’t want to carry money with them or keep it at home often choose to put their money in a savings account at a bank or credit union. These financial institutions protect money from theft and other losses. They also pay interest on money deposited. This lesson works well as a follow-up to the ABCs of Saving.
Grades:
Concepts:
- Banking
- Choice
- Decision Making
- Interest
- Money Management
- Savings
Standards:
- Economics 2: Marginal Cost/Benefit
- Economics 10: Role of Economic Institutions
- Economics 12: Role of Interest Rates
Related Resources:
Reviews
I think this lesson is too difficult for 1st graders
This lesson is a very nice way to introduce banking to younger students. I like the links that are used for quizzes, coloring, etc. I was happy to have stumbled
upon this lesson. Lots of fun.
This lesson is correctly defined K-2. There is something for everyone. For first grade, I like the Adventures with Dollar Bill, A Trip to the Bank, and the quizzes that follow. I think the printable label for making a bank from a coffee can is a great way to sum up such a unit. The deposit/withdrawal activity is, of course, too difficult for first graders. However, make it your own! Make cards using cents, and keep track of what comes in and out of a "faux" piggy bank using simple addition and subtraction.
