Tess Trawick

EDCI 554
Lesson Four: Saving and Spending
Sub-Question: What does it mean to save and to spend? What is opportunity cost?
Objective: Students will be able to explain that opportunity cost is the thing they give up when
making a choice. Students will be able to explain that saving means setting something aside to use
it in the future.

History SOL 1.7 The student will explain the difference between goods and services and describe
how people are consumers and producers of goods and services.
History SOL 1.8 The student will explain that people make choices because they cannot have
everything they want.
History SOL 1.9 The student will recognize that people save money for the future to purchase
goods and services.
History SOL 1.10 The student will apply the traits of a good citizen by a) focusing on fair play,
exhibiting good sportsmanship, helping others, and treating others with respect; b)
recognizing the purpose of rules and practicing self-control;
English SOL 1.1 The student will continue to demonstrate growth in the use of oral language.
c) Participate in a variety of oral language activities, including choral speaking
and reciting short poems, rhymes, songs, and stories with repeated patterns.
d) Participate in creative dramatics.
English SOL 1.3 The student will adapt or change oral language to fit the situation.
c) Ask and respond to questions.
Visual Arts SOL 1.5 The student will create art from real and imaginary sources of inspiration.

Materials
Piggy bank
Small pieces of paper
The Grasshopper and the Ants Readers Theater scripts
I Want worksheet (extension)

Procedures:
1. Ask students to think about what they would buy if they could save their money up for a
whole year (link). Have them sketch and label their drawing on a small piece of paper.
Give students two minutes to turn and talk with a partner about what they chose and how
they would save their money to buy the item. Allow a couple students to share their ideas
with the class. Then pass around the piggy bank and have all students fold their piece of
paper and slip it into the piggy bank. Explain that we save money to buy goods or
services in the future.
2. Explain to students that we will be doing a readers theater. List the roles on the board
and pick volunteers for each role (Need: 1 narrator, 1 grasshopper, 10 solo parts, a small
group of ants). Pass out the scripts and read aloud to the class. Have students highlight
their speaking parts and give them a few minutes to practice their lines with a buddy or
by themselves. When they feel ready, arrange the class at the front of the room and
begin the skit. (kinesthetic, interpersonal, auditory-musical)
3. After the skit, discuss the following questions:






What were the ants saving for? [Food for the winter]
What did the ants give up? [Time playing or relaxing]
What was the grasshopper's opportunity cost? [Food for winter]
What have you had to give up to get something else? [answers will vary]

4. Emphasize that saving for the future requires patience and giving up some things you
might want today, but it can be worth it when you get what you want the most.

Extensions
Have students create savings goals and create plans to reach one of their savings goals using the
I Want worksheet.

Assessment
Student answers to the discussion questions will assess understanding of the definitions of
opportunity cost, choices, and saving.

Differentiation
Various levels of questioning were used to engage students of all abilities. Advanced students
were challenged with higher level thinking questions.
The teacher deliberately assigned students roles based on the amount of reading involved and
the students reading ability.
Turn and talk was utilized to offer all students a chance to share their thinking.

Technology Integration
Use the SmartBoard to display the script when reading together as a class.