1. Making a Savings Decision
Where will you keep your savings?
SS.4.FL.3.3 Identify ways that people can choose to save money in many places-for example, at home in a piggy bank or at a commercial bank, credit union, or savings and loan

2. Essential Questions: Why is saving available in different places?
What are the different places you can save your money?
How can you decide on the right savings plan?
Say: Today we will look at how to save our money in different places and how to choose among our savings options.

3. Why Save?
When we save our earnings from doing chores or allowance we have an opportunity to make decisions as a buyer.
Many people do not save their money and later have trouble paying for the things they need.
When we save we make a smart decision to have available income to support our needs and wants more easily.
Say: How do you earn money?
Say: Do you save your allowance or chore money for items you would like to buy?
Do: Request responses

4. Piggy Bank
A common place where people begin to save their money from a young age is in a piggy bank or jar at home.
You have the money in a piggy bank always available to you.
The money in the piggy bank will remain the same amount unless you take money out from it for different reasons and you do not replace it.
Most of the time coins are saved in piggy banks to create larger amounts and carrying large amounts of coins is inconvenient.
Say: How many of us have a piggy bank or jar of savings at home?

5. Commercial Bank
These banks deal primarily with deposits and loans from corporations or large businesses
These banks will provide you with a checking or savings account to store your money for future use
The checking account is where you hold money that you will use often for necessities using written checks or an ATM card.
The savings account choices give you a place to store your money and earn interest on the money you allow the bank to hold for you that they can provide other customers to borrow.
Say: If you choose to save your money in a bank it is a good idea to compare different interest rates that the bank will pay you to save with their bank.
Explain: If you have a savings account with $1,000 and a 5% interest rate. 5% of $1,000 earns you $50.

6. Credit Union
A cooperative bank that is privately owned and controlled by its members.
The primary purpose of this type of bank is to provide credit at low rates to its members.
The members that contribute a certain amount of a deposit of money in their account can receive credit.
This bank will also set competitive interest rates to persuade its members to save with their bank.

7. Savings and Loan
These banks specialize in accepting savings deposits and making mortgage loans. They do not offer loans to commercial businesses.

8. Closing Which location best suits you? Will you choose to save?
Say: Think about the different choices we have discussed that are available for you to save your money. Which of the choices is best fit for you?