📖

Earning, Saving, and Spending

Economics: Understanding Markets and Money

Day 73of 180
Week 15of 36
30Minutes
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🖨️ Download Worksheet (PDF)
🎯 What You'll Learn

Learning Objectives

1

Understand basic principles of personal finance

2

Create a simple budget

3

Learn biblical principles of money management

4

Practice decision-making with limited resources

📖 Scripture Connection

Proverbs 22:7

“The rich rules over the poor. The borrower is servant to the lender.”

— Proverbs 22:7 (WEB)

Understanding the importance of financial wisdom and avoiding unnecessary debt

📦 Materials Needed

  • Budget worksheet
  • Colored pencils
  • Calculator
  • Play money
  • Notebook
📚 Step-by-Step

Lesson Plan

1Opening (5 min)

Play a quick money management game where students make quick financial choices

💭 Review Question: What does it mean to be responsible with money?
2Teaching (10 min)

Introduce concepts of earning, saving, and spending wisely

📌 Key Talking Points:
  • Different ways to earn money
  • Importance of saving for goals
  • Distinguishing between needs and wants
  • Biblical principles of stewardship
💬 Discussion Questions:
  • How can you earn money at your age?
  • What are some things you want to save for?
  • How might God want us to use money?
3Activity: My Personal Budget Adventure (10 min)
worksheet

Students create a monthly budget with imaginary income and expenses

📝 Instructions:
  1. List potential income sources
  2. Write down necessary expenses
  3. Calculate savings goals
  4. Identify areas to give or donate
🔄 Variations:

Simpler: Pre-filled worksheet with guidance

Challenge: Include percentage-based budgeting and investment concepts

4Closing (5 min)

Review budget worksheets and discuss key learnings

📝 Review Questions:
  • What was the most challenging part of budgeting?
  • How can saving money help you in the future?
  • What did you learn about being a good steward?
🙏 Prayer:

Dear God, help us be wise and responsible with the resources You provide.

Coming up: Tomorrow we'll explore the dangers of debt and how to avoid financial traps

💎 Memory Verse

Luke 16:11

“If therefore you have not been faithful in the unrighteous mammon, who will commit to your trust the true riches?”

— Luke 16:11 (WEB)

🎯 Activity: Create hand motions to remember key words

👨‍👩‍👧 For Parents

Teaching Notes

📚 Background:

Fifth graders are developing understanding of money management

💡 Teaching Tips:
  • Encourage real-world conversations about money
  • Help children set small savings goals
  • Model wise financial decisions
🤔 Common Struggles:

Understanding delayed gratification and long-term financial planning

👀 Signs of Understanding:

Ability to distinguish between needs and wants, interest in saving

🚀 Want More?

Extension Activities

  • Create a savings jar at home
  • Research different ways kids can earn money
  • Family discussion about household budgeting

Ready for Tomorrow?

Great job completing today's lesson!

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