Social Studies
Objective: I can explain how money makes trading easier and make a save, spend and share plan.
Standards: D2.Eco.5.3-5, D2.Eco.10.3-5
Builds on: Needs Week 13 Day 4, where your child swapped crackers and raisins, then used coins. One-minute check: "Why was swapping hard when I did not want raisins?" (You had nothing I wanted.)
- barter – trading goods or services directly, without money
- interest – extra money a bank pays people for keeping savings there; borrowers pay interest to the bank
- interest rate – how much interest is paid in a year for each dollar
Materials: 3 jars or envelopes labeled Save, Spend, Share, 10 play dollars (or 10 coins that each stand for $1), 4 small objects for a barter game (such as an eraser, a sticker, a toy car and a hair clip), Notebook, Pencil
- Warm-Up · 5 min
Spaced review from Week 24. Ask: "What is a budget?" (A plan for how to use money.) Then ask the big question: "How do people get money? What three things can they do with it?" Accept guesses.
- Mini-Lesson · 10–15 min
Say: "Barter means trading goods or services directly, with no money." "Lin grows carrots. She needs her roof fixed. The roofer does not want carrots." "Barter only works when each person wants what the other has." Say: "Money makes trading easier, because almost everyone accepts it. Lin sells carrots to anyone, then pays the roofer." "Money is also easy to carry and easy to count." Say: "People earn money by working. They can spend it, save it or share it." "A bank keeps savings safe. The bank may pay a little extra money, called interest." Lay the 10 play dollars in a row. Say: "Pretend each one is $10, so this is $100. After a year, the bank adds $2. That $2 is interest." "The interest rate tells how much the bank pays in a year for each dollar. Here it is 2 cents for each dollar. A higher rate means more interest." "People who borrow from a bank pay interest to the bank." Ask: "Is swapping a toy for a book barter?" (Yes. No money is used.) "Why do sellers take money?" (They can use it to buy what they want.) "When you save at a bank, who pays the interest?" (The bank pays you.) If stuck, say: "Does the other person want what you have? If not, what could you both use?"
- Activity / Source Work · 15–20 min
Part 1, barter game. 1) You hold the eraser and the sticker. Your child holds the toy car and the hair clip. 2) Your child picks one of your objects to want. Say: "I only want a marble." No one has a marble. Ask: "Can you get it by barter?" (No. I have nothing you want.) 3) Give your child the 10 play dollars. Sell the object for $1. Ask: "Why did that work?" (You accept money. You can buy a marble somewhere else.) Give the dollar back. Part 2, three jars. 4) Your child splits the $10 among Save, Spend and Share. Your child fills a chart: Jar | Dollars | Reason. One plan is $3, $5 and $2. Check that the three amounts add to 10. 5) Ask: "If you save $3 every week, how much is saved after 4 weeks?" ($12.) Plans vary. Look for a total of exactly $10 and a reason for each jar.
- Notebook Entry · 10 min
Your child completes: "Barter is ___. Lin could not barter with the roofer because ___. My plan is Save $__, Spend $__, Share $__. I am saving for ___." Sample: "Barter is trading without money. Lin could not barter because the roofer did not want carrots. My plan is Save $3, Spend $5, Share $2. I am saving for a kite."
- Exit Ticket · 5 min
Read each exit question aloud. Your child answers in the notebook. Praise clear reasons and checked sums.
Watch for: Thinking saved money is gone or cannot be used later.
Try: Show the Save jar filling up. Say: "This money is waiting for something important to you."
- Which one is barter: swapping two stickers for a pencil, or paying $1 for a pencil? Tell why.
- Bank A pays 1 cent a year for each dollar saved. Bank B pays 3 cents. Which bank has the higher interest rate?
- Eli puts $2 in his Save jar every week. How much is in the jar after 5 weeks?
Show answers
- Swapping stickers for a pencil. No money is used.
- Bank B.
- $10 (5 × 2 = 10)
Support: Use real coins. Your child counts them into two jars first, Save and Spend, then adds Share.
Extend: Your child picks something that costs $18 and saves $3 a week. Make a chart to find the number of weeks. (6 weeks.)
Homework: Your child puts a few real coins in the three jars from last week with a family member. Then your child names a goal for the Save jar. Look for a goal with a price.
Practice page · Week 25, Day 4
Social Studies
I can tell how money makes trading easier and make a save, spend and share plan.
Record your barter game.
| I had | I wanted | Did I get it? |
|---|---|---|
- 1.
Was it hard to trade? Why?
Make a three-jar plan for $12.
- 2.
Write how much goes in each jar: spend, save, share.
- 3.
Show that your jars add up to $12.
- 4.
You save $2 every week. How much will you have after 5 weeks?
- 5.
What is barter?
- 6.
What is interest?
Challenge: Why is money easier than barter?
Materials: small objects to trade · play money · three jars or cups