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Financial Literacy Fun

Lesson Plan

Financial Literacy Fun

Understand basics of saving and budgeting

This lesson aims to introduce young students to financial literacy concepts such as saving, budgeting, and the value of money through interactive discussions and activities. Understanding these basics will help empower the students to make informed decisions about money in their daily lives.

Audience

Ages 7-8

Time

45 mins

Approach

Understand basics of saving and budgeting

Materials

Paper, Markers/Crayons, Saving and Budgeting Worksheet, Printable Money Cards, and Printable Budget Sheets

Step 1

Introduction

5 mins

  • Greet the students and introduce the topic of financial literacy.
  • Explain what money is used for and why it's important to manage it well.

Step 2

Discussion on Saving

10 mins

  • Lead a discussion on the concept of saving.
  • Ask students why they think it's important to save money.
  • Use real-life examples to show how saving can help buy something special in the future.

Step 3

Activity: Saving and Budgeting Worksheet

15 mins

  • Handout the 'Saving and Budgeting Worksheet'.
  • Guide students through the worksheet, explaining each section.
  • Assist students in filling out their worksheets, discussing how they might save for something they want to buy.

Step 4

Activity: Printable Money Cards

10 mins

  • Distribute 'Printable Money Cards' to students.
  • Role-play a small store scenario where students use the money cards to 'buy' items.
  • Discuss how they can use budgeting to decide what to buy and how much to save.

Step 5

Activity: Printable Budget Sheets

10 mins

  • Hand out the 'Printable Budget Sheets'.
  • Guide students through the sheets, explaining each section (income, expenses, savings).
  • Assist students in filling out their budget sheets, discussing the importance of balancing income and expenses.

Step 6

Closure

5 mins

  • Summarize the key points learned about saving and budgeting.
  • Ask students to share one thing they learned and how they plan to use it.
  • Praise the students for their participation and understanding.
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Worksheet

Saving and Budgeting Worksheet

This worksheet will help students list items they want to save for and make a simple budget to understand saving and spending.

What's a super cool thing you really want to buy?

Think of your favorite toy, book, or something really special.







How much do you think it costs? Have you seen it in a store or online?

Ask a parent or guardian for help if needed.







How much money do you get every week from your allowance or gifts?

Think about all the ways you receive money.







How much of your weekly money would you like to save?

Pick a small amount you can save each week.







How many weeks will you need to save your money to buy the cool thing?

Do a bit of simple math to figure this out.







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Worksheet

Printable Money Cards

These cards represent different denominations of money for use in activities. Print and cut them out for students to use in role-playing scenarios.




$1







$5







$10







$20




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Worksheet

Printable Budget Sheets

These sheets help students practice budgeting by categorizing their income, expenses, and savings. Print them out for students to fill in during the lesson.




Income: $___







Expenses: $___







Savings: $___




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