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Spending, Borrowing, and Saving
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Budgeting: Spending, Borrowing, and Saving
Jennifer Johnson
Standards
5.E.2.1: Explain the importance of developing a basic budget for spending and saving.
5.E.2.2: Evaluate the costs and benefits of spending, borrowing and saving.
#1
https://www.ducksters.com/money/budgeting_money.php
This website explains first what a budget is and why it is important. It also outlines how to figure out your expenses and income. After figuring all that information out, it explains what your budget should look like and how much you want to save. Lastly, it has a section on how to spend your money wisely.
#2
https://www.ducksters.com/money/how_to_save_money.php
This article explains why you might want to save your money and where to store the money you want save. It talks about interest and how you can receive interest by placing money in the bank. It also details small ways to help your family save as a child and why it's important to learn to save now.
#3
https://www.youtube.com/watch?v=1el4U_cve40
The story told is about a hen who wanted pink feathers, but didn't have enough money so she got a credit line and payed in eggs over time. The hen who she got the idea of the pink feathers from changed her color to green. This confused the hen who was in debt because she didn't understand how she could afford it. The green feathered hen told her it's about waiting until the right time for promotional offers. The story shows the importance of spending your money wisely and know the full costs of things before getting into it.
#4
https://www.youtube.com/watch?v=a5UMk5H0P_A
The scene is a young girl and a older man talking about spending money. The young girl wants the sweater that all the girls at her school have so that she can look cool. The older man gives her wise advice about not worrying about what everyone else wants because trends come and go and there will always be the new "cool" thing. He taught her how to spend and save so she can be wise about her money.
#5
https://www.youtube.com/watch?v=CqD3hnjZBTM
This video explains how banks work in terms of storing your money, loaning money, and making profit. This video shows how borrowing money can have it's consequences because you don't just pay back what you borrowed, but interest gets added to it.
#6
This shows the importance of spending your money wisely.
#7
https://www.wikihow.com/Save-Money-as-a-Kid
This gives kids ideas on ways they can save money for the things they want. The list gives them ideas on how to earn money as well as a system to save the money.
#8
This book details how the two children decided to save, spend, or donate the money they earned as allowance.
#9
This outlines needs vs. wants to teach children how to spend money wisely.
#10
This shows the importance of budgeting your money. If you would have just spent instead of budgeting, you may have not had enough money for something important because you spent more on something than you really had.