1. The ABC’s of Saving By Jeannie Fitting

2. Framework M 12.2.4 Recognize and identify attributes of a penny.

3. Lesson Objectives: Students will: Identify the steps for success in saving. Give examples of how saving for the future means giving up things today. Set a savings goal and develop a plan to reach it.

4. Description We save money to get things we can’t afford to buy now. Saving for the future requires patience but it can be worth it when we get what we want the most. Successful savings depends on three elements which are presented to students as the ABCs of saving. A is for Aim: setting a goal. B is for Bank: creating a place to put savings. C is for Coins and currency: making saving money a habit. Students participate in an activity in which they must distinquish between short- term and long-term goals. In a second activity, they discover that when they decide to save for a future goal, they are giving up the opportunity to buy something now. What they give up is their opportunity cost—the thing they wanted second most. The well-known fable about The Grasshopper and the Ants helps illustrate this point. Big Banks, Little Banks (http://???) can be used as a follow-up lesson introducing students to the advantages and disadvantages of different savings places.

5. Key Economic Vocabulary Money management Opportunity cost Savings Trade-offs Trade-offs among goals

6. Purpose of Lesson In this lesson, you will identify the steps to being a successful saver and learn how saving for tomorrow requires giving something up today.

7. The Ant and the Grasshopper http://unitedstreaming.fortsmithschools.org/videos/10623/chp 892413_700k.asf

8. Steps to Saving “A” is for Aim: Set a goal.The first step to saving is deciding on a goal that you want to save for. It might be a toy for yourself, a gift for a friend, or money to spend on a trip you plan to take.

9. Things that don't cost much money and take only a few weeks or months to save for are called short-term goals. Saving money to go to the movies or to buy a small toy are short-term goals. Things that cost more money and take longer to save for are long-term goals. Saving for a bicycle or a video game player are common long-term goals for kids. A long-term goal for an adult might be a new house, a car, or paying for college.

10. Short-Term or Long-Term Remind yourself of your goal by putting a picture of it in a place where you will see it everyday. On a door or a mirror in your room are good places. Have students choose the "Short-Term or Long-Term?" to learn about other short- term (less time to save for) and long-term goals (more time to save for).Short-Term or Long-Term?

11. If You Made a Million