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In this free lesson, students learn about saving, savings goals, and income.

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In this lesson, students listen to the story of Ruby and Max, two bunnies that go shopping and make many spending decisions. They are introduced to short-term and long-term savings goals to help them save for the goods they want in the future. After a goal-sorting activity, students choose and illustrate their own savings goal.

Parents: Learn more about the Q&A using Bunny Money.

This lesson plan is designed for teaching grades K and 1.

Book written by Rosemary Wells / ISBN: 978-0-14-056750-2. This book is in print and available.
Common Core
Grades 1 and 2 English Language Arts Standards--Reading: Literature

Key Ideas and Details

RL.1.1, RL.2.1. Ask and answer such questions as who, what, where, when, why, and how to demonstrate understanding of key details in a text.

RL.1.3, RL.2.3. Describe how characters in a story respond to major events and challenges.

Integration of Knowledge and Ideas
RL.1.7, RL.2.7. Use information gained from the illustrations and words in a print or digital text to demonstrate understanding of its characters, setting, or plot.

Grades 1 and 2 English Language Arts Standards--Speaking and Listening
Comprehension and Collaboration
SL.1.2, SL.2.2. Recount or describe key ideas or details from a text read aloud or information presented orally or through other media.

Grades 1 and 2 Mathematics & Algebraic Thinking

Add and subtract within 20.
1.OA.2, 2.OA.2. Fluently add and subtract within 20 using mental strategies. By end of Grade 2, know from memory all sums of two one-digit numbers.

Understand and apply properties of operations and the relationship between addition and subtraction.
1.OA.4.Understand subtraction as an unknown-addend problem. For example, subtract 10 - 8 by finding the number that makes 10 when added to 8. Add and subtract within 20.

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Bunny Money Lesson for Grades K-1 | Education Resources | St. Louis Fed

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In this lesson, students listen to the story of Ruby and Max, two bunnies that go shopping and make many spending decisions. They are introduced to short-term and long-term savings goals to help them save for the goods they want in the future. After a goal-sorting activity, students choose and illustrate their own savings goal.

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Let's explore a little economics.

Today we are going to learn about income, saving, spending, and savings goals. You may want to have a piece of plain paper, some markers or crayons, and some tape for this lesson.

What would you do with $2 you earned helping your neighbors clean up their yard? You could spend it, or you could save it-right?

The payment people earn for work they do, is called income. Is there work you do around your house?

Maybe you set the table, help with the dishes, dust the furniture, walk the dog, or help with yard work. You may do that because it is work you do as part of your family. Or, maybe you are paid-you earn income for some of the work you do.

Sometimes you might receive money as income-payment for work. But sometimes, you probably receive money as a gift. Have you ever received money as a gift? Maybe for a birthday or another special day in your life?

What do you do with the income you earn or the money you receive as a gift? There are really two things that you can do with your income. You can save it, or you can spend it. Spending means using some income to buy things now. You probably know something about spending if you buy things! Saving means keeping some income to buy things in the future.

It is a really good idea to save for the future. A savings goal is something that you are saving to have in the future.

People have lots of savings goals-they save for emergencies like fixing a broken car, or for big items, like a new refrigerator.

People also save for their kids to go to college, for vacations, for when they retire, and for special things that they want.

It isn't easy to save-there are lots of things that we want to spend money on right now. It helps to remind yourself of your savings goal.

One thing you can do is draw a picture of your savings goal and place it where you can see it-to remind you why you are keeping your money for the future-and not spending it today.

Here's a picture of my savings goal. I have it hanging near my computer to remind me that I am saving-and to encourage me NOT to spend now. Here are some examples of other kids' savings goals. Do you have a savings goal?

Let's use your paper and your markers to draw a picture of your savings goal.

Hang it somewhere-maybe near your piggy bank-to encourage you to save, NOT spend, so that you meet your goal.

Here's a little song to help you remember about saving. We'll show you the words so you can sing along. Just follow the bouncing ball.

If you spend all of your income,
Spend it every day
If you're tempted by the small stuff
Or don't keep your money safe.
You'll end up with stuff around you,
Lots and lots of stuff today.
If you spend all of your money,
You won't reach your goal.

Chorus: Save some money now! Save some money now!
Save some money now, now, now, now, now!
Save some money now! Save some money now!
Save some money now, now, now!

If you save some of your money,
Save some every day.
If you save some of your money,
You can reach your goal that way.
Don't be tempted by the small stuff,
And keep your money safe.
If you save some of your money,
You can reach your goal.

Chorus: Save some money now! Save some money now!
Save some money now, now, now, now, now! Save some money now!
Save some money now! Save some money now, now, now!

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Saving and Savings Goals - Explore Economics Video Series

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In this short video, kids learn about income, spending, saving, and savings goals, and they are encouraged to save for the future.

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Curious George Saves His Pennies 1-2 grade

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Curious George Saves His Pennies 1-2 grade

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Curious George Saves His Pennies Lesson for Grades 1-2

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Students create a savings goal, come up with ways they can earn money to reach their savings goals, and determine how many weeks it will take them to reach their goals.

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What Makes Something Useful as Money? Video

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What Makes Something Useful as Money? Video

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What Makes Something Useful as Money? Explore Economics Video Series

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This video shows items that have been used as money in the past and explains why something used as money should be relatively scarce, generally acceptable, portable, durable, and divisible.

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It's never too soon to begin teaching basic financial concepts, such as human capital, decision-making, saving, and using credit, to young students. Ella's Adventures allow your students to follow young Ella as she learns important life lessons.

Ella Saves Today Online Module

Young children are not likely to think past their piggy banks when it comes to safe places to set money aside for those special items. In this short module, they'll learn that a bank account offers security and a return on savings.

Give Ell Credit Online Module

Using some form of credit is a necessity for most adults. Unfortunately, some misuse credit, and the consequences can be devastating. The earlier young people learn about credit, the more likely they are to use it responsibly as adults. Read and listen to this story to learn what credit is, why people use credit, and how interest can affect the final cost of a good or service when bought on credit.

Invest in Yourself

"Human capital" refers to the knowledge and skills that people obtain through education, experience, and training. You invest in your human capital through education, on-the-job training, and practice. Read and listen to this story to learn why school and studying is valuable in helping to grow your human capital.

Once Upon a Decision Online Module

How do you make tough decisions? Do you take a guess at the correct solution? Do you ask someone else to make the decision for you? Do you simply use "eeny, meeny, miney, mo?" Read and listen to this story about Ella, who has decisions to make, and learn about the tool that helps Ella solve her problems.

These online modules are designed for teaching grades 2, 3, and 4.
Teachers:
Awards

This lesson received the 2019 Curriculum Gold Award of Excellence from the National Association of Economic Educators.
Read more about our award-winning resources "

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If you have difficulty accessing this content due to a disability, please contact us at 314-444-4662 or economiceducation@stls.frb.org.

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Ella's Adventures Online Modules for Grades 2-4

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It's never too soon to begin teaching basic financial concepts such as decision making and saving to young students and children. Learn more with these online modules.

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Power point for bankers in elementary school presentations - revised

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This fun video explains how compound interest works: interest is earned on the amount you initially deposit, or the principal, and on the interest you earn.

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Get Smart About Credit is a free, educational event designed to raise awareness among teenagers about the importance of personal finance skills.

Used by schools and community organizations across the country, this engaging presentation - delivered by a banking professional - will help teens and young adults make smart decisions about spending money. This event provides emerging adults with lessons that will last a lifetime.

How It Works

Types of Participating Organizations

High schools

Religious organizations

Scouts & community organizations

There are 5 simple steps to hosting "Get Smart About Credit" as a virtual or an in-person presentation.

Step 1: Request a banker-led presentation for your organization by completing the simple FinEdLink form.

Step 2: The ABA Foundation will match you with a banking professional in your community who is available to conduct the presentation.

Step 3: You and the banker volunteer decide on the details of the presentation.

Step 4: You hold the event at your chosen date and time.

Step 5: Handouts and other materials will be available to share with participants as downloads, or to take home and share with others.

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Bring financial education to teens & young adults in your community | American Bankers Association

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A free, turnkey event available as an eLearning or in-person presentation for teenagers and young adults in your community.

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Get Smart About Credit is a free, educational event designed to raise awareness among teenagers about the importance of personal finance skills.

Used by schools and community organizations across the country, this engaging presentation - delivered by a banking professional - will help teens and young adults make smart decisions about spending money. This event provides emerging adults with lessons that will last a lifetime.

How It Works

Types of Participating Organizations

High schools

Religious organizations

Scouts & community organizations

There are 5 simple steps to hosting "Get Smart About Credit" as a virtual or an in-person presentation.

Step 1: Request a banker-led presentation for your organization by completing the simple FinEdLink form.

Step 2: The ABA Foundation will match you with a banking professional in your community who is available to conduct the presentation.

Step 3: You and the banker volunteer decide on the details of the presentation.

Step 4: You hold the event at your chosen date and time.

Step 5: Handouts and other materials will be available to share with participants as downloads, or to take home and share with others.

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Bring financial education to teens & young adults in your community | American Bankers Association

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A free, turnkey event available as an eLearning or in-person presentation for teenagers and young adults in your community.

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Teach Children to Save is a free, banker-led personal finance presentation complete with engaging activities that encourage children to develop a saving habit early in life.

Used by teachers and community organizations across the country, this presentation - given by a real-world expert - will teach children sound money skills that will last a lifetime.

Teach Children to Save is designed for organizations like:

Elementary and Middle Schools

After School Programs

Parent Teacher Associations

How It Works

Types of Participating Organizations

Elementary and Middle Schools

After School Programs

Parent Teacher Associations

There are 5 simple steps to hosting "Teach Children to Save" as a virtual or an in-person presentation.

Step 1: Request a banker-led presentation for your organization by completing the simple FinEdLink form.

Step 2: The ABA Foundation will match you with a banking professional in your community who is available to conduct the presentation.

Step 3: You and the banker volunteer decide on the details of the presentation.

Step 4: You hold the event at your chosen date and time.

Step 5: Handouts and other materials will be available to share with participants as downloads, or to take home and share with others.

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Bring "Teach Children to Save" to children in your community

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A free, turnkey event available as an eLearning or in-person presentation for kids in your community.

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Sammy Rabbit's Money School is a fun-filled membership that teaches kids and families the importance of developing great habits (especially money habits) and dreaming big through engaging activities and educational resources. Join Sammy Rabbit on an adventure towards financial literacy and a brighter future!

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You want your kids to be good with money. Maybe you're great with money, or maybe you're feeling totally inadequate because if you're being totally honest, you've never kept a budget yourself.

Either way, we've got you covered!

The 'Don't Bust Your Budget' Game

We've got an awesome FREE Download for you that will help teach budgeting, even if you've never kept a budget.

This fast-paced game lets kids try out keeping a budget as if they've just started living on their own for the first time. Their objective? Don't bust their budget! If they can make wise enough decisions through each round, they might be able to stay in budget! It only takes about 20 minutes to play and can be played as a family, co-op, classroom, or youth group. No prep needed. Each player or group just needs one game board and 20 counters. (We like to use jelly beans!)

I was first introduced to a version of this game when as youth leaders, we were trying to teach a group of kids between 13 and 17 about money management and budgeting.

The kids learned a ton, we learned a lot about where there we gaps in their understanding, and everyone had fun! Which, if you're talking about a lesson on money management + teenagers and you can use the word FUN in that scenario... Means things went really well.

In fact, I instantly knew I wanted to help more families, classrooms, and youth groups have the experience we'd had.

So I created 'Don't Bust Your Budget' an adaptation from the original game we played that Wednesday night.

You can download it for yourself right here!

What I love about this game.

It only takes about 20 minutes to play!

No planning or prep is needed! (My favorite kind of activities!!)

It can be played as a family, co-op, classroom, or youth group.

All you need is to print the "game board" and then grab something to be counters. (We prefer jelly-beans, but even dried beans will work.)

It helps illustrate Steven Covey's "first things first" principle beautifully. You know, the one about how we should prioritize the most important things ahead of everything else. (In this scenario, think rent and food, before fun and entertainment.)

3 Tips for Teaching Kids about Budgeting & Money Management

1. Start simple! Why do so many people bury their heads in the sand when it comes to money management? It certainly not because they've heard it's a good strategy. It's because all of this money stuff can feel so dang intimidating. Let your main objective when playing 'Don't Bust Your Budget' be to help kids feel empowered, not defeated.

2. Talk about money in a positive way! You might enjoy this video about how the ultra-wealthy talk about money with their kids.

3. Look at your own money mindset. As parents and leaders, we are modeling money habits and mindsets for our kids. If you don't love your own feelings of money, read a book or find a podcast that can help you change them and as you go through the process, keep talking to your kids about money, wealth, and what you're learning!

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How to teach kids about Money & Budgeting (Simple Game)

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You want your kids to be good with money. Maybe you're great with money, or maybe you're feeling totally inadequate because if you're being totally honest, you've never kept a budget yourself. Either way, we've got you covered! We've got an awesome FREE Download for you that will help teach budgeting, even if you've never kept a budget.

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This video teaches the concept of Money. Money is anything that is used to buy and sell goods and services. In different times and places, many different items have served as money: gold, silver, shells, cattle, tobacco and printed paper currency. [TRANSCRIPT]

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Alexander, Who Used to Be Rich Last Sunday

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Alexander, Who Used to Be Rich Last Sunday

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Teach money, opportunity cost, saving, and spending using the book "Alexander, Who Used to be Rich Last Sunday."

In the story, Alexander, Who Used to Be Rich Last Sunday, Alexander receives a dollar from his grandparents that he plans to save, but he spends it all, a little at a time. In this lesson, students count by twos to fill a container with 100 pennies. They are asked whether 100 pennies is the same amount of money as one dollar. They listen to the story and as Alexander spends his money, students come up and remove the correct number of pennies from a container. At the end of the story, students are again asked if 100 pennies is the same amount of money as one dollar. Students discuss the choices that Alexander made and give advice on how he could save his money to reach his goal of buying a walkie-talkie.

Objectives

Students will be able to

define saving, spending, opportunity cost, and savings goal;

explain why it can be hard to save money;

count to 100 by 2s;

recognize that $1 equals 100 cents; and

create and analyze bar graphs.

Essential Question

Why is it hard to save for things we want in the future?

This lesson plan is designed for teaching grades K, 1, and 2.

Book written by Judith Viorst / ISBN: 0-689-71199-9. This book is available in print and electronic format.

Braille and Talking Book versions are available via the National Library Service for the Blind and Print Disabled. Library of Congress catalogue numbers are provided for accessible versions. The books can be accessed through BARD (Braille and Audio Reading Download). The book is available in Talking Book LCCN 2002997217.

Parents: Learn more about the Q&A using Alexander, Who Used to Be Rich Last Sunday.

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If you have difficulty accessing this content due to a disability, please contact us at 314-444-8624 or economiceducation@stls.frb.org.

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Lesson: Teach Money, Opportunity Cost, Saving, Spending with the book Alexander, Who Used to be Rich Last Sunday

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This free lesson for grades K-2 helps students understand making choices and the opportunity costs they encounter when saving for a goal, something they want to purchase.

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Questions and answers on the economic concepts saving, goals, and borrowing using the book Less Than Zero.