Standard 3 : Saving



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General Information

Number: SS.4.FL.3
Title: Saving
Type: Standard
Subject: Social Studies
Grade: 4
Strand: Financial Literacy (Adopted in 2023)

Related Benchmarks

This cluster includes the following benchmarks
Code Description
SS.4.FL.3.1: Identify ways that income is saved, spent on goods and services, or used to pay taxes.
SS.4.FL.3.2: Explain that when people save money, they give up the opportunity to buy things now in order to buy things later.
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.
SS.4.FL.3.4: Identify savings goals people set as incentives to save. One savings goal might be to buy goods and services in the future.
SS.4.FL.3.5: Explain that when people deposit money into a bank (or other financial institution), the bank may pay them interest. Banks attract savings by paying interest. People also deposit money into banks because banks are safe places to keep their savings.


Related Access Points

This cluster includes the following access points.

Access Points

Access Point Number Access Point Title
SS.4.FL.3.AP.1: Recognize ways that income is used.
SS.4.FL.3.AP.2: Recognize that saving money involves choices
SS.4.FL.3.AP.3: Identify places where people can save money.
SS.4.FL.3.AP.4: Identify the relationship between saving money and future purchases.
SS.4.FL.3.AP.5: Recognize the advantages of saving money in a bank.


Related Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Lesson Plan

Name Description
Which Bank is Consumer Friendly?:

This MEA is a student's exploration of banking. In the first task, they will create a model that will rank banks from most consumer friendly to least consumer friendly. In the second task, they will need to modify their models to address additional banks and additional criteria. Students can then test their models while researching real banks and determining their level of consumer friendliness.

Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. Click here to learn more about MEAs and how they can transform your classroom.