
Grades 6-8, 9-12
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When choosing a place to put their money, people consider how safe their 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.
Inform your students that there are many places where people can keep their money. Tell the students that depending on what they want to do with their money, some places are better than others.
NOTE: Be sure to tell students what a credit union is. At this age, students should not be excepted to know what one is, and therefore, a definition of a credit union should be provided.
ACTIVITY 1:
Follow along with this informational activity to learn all about where you can keep your money.
THINK ABOUT IT:
ACTIVITY 2:
When you go to a bank or credit union, what would you expect to see? Complete this interactive activity to see if you know what belongs in a bank and what doesn’t!
More Fun!
The Adventures of Interest Ray explains what interest is, how people get it, and why the bank gives it to people. Use the Space Bar to advance the stories. (if the file doesn’t show up right away; refresh your screen)
There are many different places people can put money and other things they value to protect the items from being lost or stolen. The advantage of putting money in a savings account at a bank or credit union is that money grows if it is deposited here. Banks and credit unions pay us interest for letting them use our money.
Grades 6-8, 9-12
Grades Higher Education, 6-8, 9-12
Grades 9-12
Grades 9-12