Students will be able to:
In this personal finance activity, students will use Mint to learn about savings accounts and interest.
For students to be able to access Mint successfully, they must use the same computer or device every time they access Mint. Otherwise, they will be forced to re-create a new account.
Paid advertisements appear in Intuit Mint. The Council for Economic Education does not endorse or evaluate the advertised product, service, or company, nor any of the claims made by the advertisement.
Prior to introducing students to Mint, follow the steps within the teacher checklist to familiarize yourself with Mint. This simulation reinforces savings and interest. Before starting the Mint activity, students should know the following:
Students will do the following in this activity:
Upon logging into Mint:
Students will complete questions on the Comparing Savings Accounts Student Worksheet. Additionally, the following reflection question is given to conclude and assess.
A new bank is opening in your city. On the sign out front, in big letters, it reads:
“New Customers: 3.5% APY on Savings Accounts!Only for the first 6 months, then the APY adjusts to 0.25% APY”
For Scott, who plans to save for many years, is this a good offer? Why or why not?
Grades K-2, 3-5