SS.4.FL.3.5

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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.

Remarks

Describe the advantages of saving money in a savings account rather than putting the money into a piggy bank.

General Information
Subject Area: Social Studies
Grade: 4
Strand: Financial Literacy (Adopted in 2023)
Standard: Saving
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
5021060: Social Studies Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 - 2023, 2023 and beyond (current))
7721015: Access Social Studies - Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current))

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
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 benchmark.

Lesson Plan

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.

Type: Lesson Plan

STEM Lessons - Model Eliciting Activity

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.

Student Resources

Vetted resources students can use to learn the concepts and skills in this benchmark.

Parent Resources

Vetted resources caregivers can use to help students learn the concepts and skills in this benchmark.