Celebrate #FinLitMonth with us by finding ideas for you and your students!

Grade 6-8
,
Lesson

A Penny Saved Is a Penny Earned…With Interest

Time: 45 mins,
Updated: February 1 2024,
Author: Sue Lynn Sasser, Conor Irons
Teacher Version
Objective Standards Summary
Print

Objective

Students will be able to:

  • Compare spending and saving.
  • Explain opportunity cost.
  • Define interest earned.

Standards

National Standards in Economics

National Standards in Financial Literacy

State Standards

Common Core State Standards

Concepts

Budgeting, Decision Making/Cost-Benefit Analysis, Opportunity Cost
Subjects:
Economics,Math,Personal Finance

Related Resources

Grades 9-12

Can We End Housing Insecurity?

Students compare the economic costs and benefits of helping people who are experiencing housing insecurity and consider the ethical implications.
Key Concepts: Decision Making/Cost-Benefit Analysis, Role of Government
90 mins
Lesson

Grades 9-12

Should Private Companies Operate Prisons?

Students analyze and rank the four general goals of corrections to help them determine their personal beliefs about what prisons...
Key Concepts: Incentives, Opportunity Cost, Profit…
60 mins
Lesson

Grades 9-12

Can You Be Fashionable and Ethical?

Students “produce” blue jeans and make business choices about production to simulate the decision of changing from more expensive, but...
Key Concepts: Costs of Production, Decision Making/Cost-Benefit Analysis, Externalities…
60 mins
Lesson