One. "Save - Deposit." Save - keep, protect and grow your future!
Two. "Save - Spend less!" Save, spend less, refers to the practice of giving away, releasing, or choosing to use your money to purchase something you want or need for less money than you would typically pay. This decision can be either advantageous or detrimental. It proves beneficial when the item you are spending on aligns with a premeditated purchase, enabling you to derive more value from your money. Conversely, it is generally unwise when the expenditure is unplanned and impulsive, leading to what is commonly known as an impulse purchase. To make the most of your financial decisions, it's crucial for children or anyone to distinguish between planned and impulse spending.
We believe being exposed to and mastering the language of money at an early age will help kids form a better relationship with it. One of the most important personal finance terms to introduce a child to and have them associate with money is the word "save."
It is crucial to be clear about the definition of the word save.
Why? The word save has several meanings.
We suspect many kids are most familiar with the word save when used in the contexts of rescuing a person, retaining data on computer or in a sports scenario.
And, as it pertains to money, kids may be most familiar with the term save or saving as it applies to "spending less." They have probably heard and seen the word used most in this context.
Therefore, it is vital to kids financial capability and wellness that parents, teachers and community leaders introduce them to the word save in the context of depositing, keeping, puting away, holding onto and storing "up" money for use at another time - a later time - a time in the future.
Suggested Strategies
Have kids do the interactive skit in the video above
Listen to music using the word "save" and complete activities. See resource section below.
Read kids a story book on "saving"
Play "Save-Deposit". See video below
When defining the word save: share one, two or three additional synonyms or short definitions with it
Use the word save in one or two sentences
Have kids copy and write out one or more sentences with the word save
Resources
Here are some “free” and “low cost” resources to help you teach children the lessons cited about.
Story Book and Activity Book: Sammy’s Big Dream!
Song: S-A-V-E
Activities: Save
Song: Get in the Habit
Activities: Get in the Habit
Coloring Book: Saving is a Great Habit
Sammy's Slogans
Sammy Spotlight
Check out Sammy’s spotlight page. See how community leaders are using Sammy resources to inspire big dreams and teach kids great money habits.
Join Sammy Rabbit. He is reimagining financial literacy education.
NOTE
This is one in a series of financial literacy education videos and blogs from Sam X Renick and Sammy Rabbit intended for parents, teachers, and community leaders on how to teach groups of kids about a variety of basic money concepts.