Savings and Checking Accounts

Designed for grades four through five, this lesson introduces students to two essential personal money management products. Children lean benefits of each, the concept of earning interest, and differences between the two accounts. Students also learn differences between debit and credit cards, plus how to write a check and tracking spending. Balancing a checkbook is the key activity associated with this lesson.

PA Standard:

• 6.5: Income, Profit, and Wealth — 6.5.3.A: Explain why people work, 6.5.3.G: Define saving and explain why people save, 6.6.3.H: Identify the role of banks (credit unions) in our local community.

Career, Education, and Work Standards:

• 13.2.3.D: Identify the importance of developing a plan for the future
• 13.3.3.D: Explain how money is used.