Save, Spend, Share
What is Money?
- It is a medium of exchange. It is the way we get things that we want.
- What if we didn’t have money? Maybe you wanted bananas but only had ping pong balls. You would have to find someone with bananas who wanted ping pong balls.
What can you do with money?
- Where can you save it? Under your bed, in a sock, in a piggy bank, or at a bank or credit union. What happens if you lose the sock or break the piggy bank? Or can’t remember where you put it. At a credit union, your money can’t be lost or stolen. And it earns interest.
- What is interest? Money earned for keeping your money in your account.
- Two things you can spend it on.
- Needs – things that are necessities such as food, clothing, shelter, and medicine. One person’s needs and wants may be different from another’s, but in general needs are items or activities you must have to live.
- Wants – almost everything else like video games, new toys, and candy. Wants are thing you would like to have or do, but that you could live without.
- You might share money between friends and family. (Have you ever received money for your birthday?)
- Make a donation to an organization. (Red Cross, your church, the Humane Society)
- Maybe it's not giving of money, but time or an item. (giving blood, serving lunch at the homeless mission, cleaning out your closet and donating the clothes)