Save for Future Wants & Needs (K–2) | Standards-Aligned Lesson Plan

Save for Future Wants & Needs: Financial Literacy Lesson Plan (Grades K–2)

Big Idea: Saving today prepares you for both future wants and future needs.

Lesson Overview

Concept: Future Planning & Delayed Gratification
Time: Approximately 30 minutes
Core Habit: Save before you need it.
Key Phrase from Story Book:
“Someday you may want or need those carrots.”
“Wouldn’t it be great if you had them then?”

Standards Alignment

CEE (K–4)	Jump$tart (K–2 / Intro 3–5)	SEL / CASEL
People save for future needs and wants.	Explain why people save for future expenses.	Self-Management: Learning to delay gratification.
Planning helps people meet goals.	Identify short-term and long-term goals.	Responsible Decision-Making: Thinking ahead and planning.

Learning Objectives

By the end of this lesson, students will be able to:

Explain the difference between a want and a need.
Describe why saving helps with both wants and needs.
Predict a future situation where savings would be helpful.
Complete the sentence: “I save so I can ______ later.”

Key Concepts

Needs: Things we must have to live and stay safe (food, clothing, shelter).

Wants: Things that are nice to have but not necessary for survival (toys, treats, games).

Saving: Keeping something now so you can use it in the future.

Planning Ahead: Thinking about what might happen later and preparing for it today.

Delayed Gratification: Choosing to wait now so you can benefit later.

Starting early helps children understand that saving is not just about money — it is about being prepared.

Materials and Supplemental Resources

It's a Habit, Sammy Rabbit! Note: Any of the following will work: Full color story book or Read and Color Activity Story Book / Bilingual Read and Color Activity Story Book / Author Reading
Sammy Dictionary for Kids (See: want; need; saving; habit)
Sammy Song Series (See: Get in the Habit, The Secret, S-A-V-E, Wants and Needs)
Paper and crayons for drawing activity
Optional: Two labeled containers (“Wants” and “Needs”)

Lesson Time Guide

2 min: Introduce Big Idea and story lines.
5 min: Read aloud / play author reading video.
8 min: Guided Discussion (3 levels).
7 min: Future Me Drawing Activity.
3 min: Transfer to Money.
5 min: Exit Ticket assessment.

Lesson Activities

1. Guided Discussion (8 Minutes)

Move through three levels of questions to help students process the concept:

Level 1 (Recall): What are carrots in the story used for? What does “someday you may want or need them” mean?
Level 2 (Understand): What is something you need every day? What is something you want but do not need?
Why would it be great to already have savings when you need them?
Level 3 (Apply): What might you need later this week? What might you want next month? How could saving help you be ready?

Highlight Phrase:
“Wouldn’t it be great if you had them then?”
(Them = carrots or savings. Then = when you need or want them.)

2. Future Me Drawing Activity (7 Minutes)

Students draw a picture of themselves in the future needing or wanting something.

Examples:

A warm coat on a cold day
Lunch at school
A birthday toy
Emergency money
School supplies

Under the drawing, students complete:

“I saved so I could ______.”

Encourage students to explain their picture to a partner.

Emphasize: Saving helps you feel ready and confident.

3. Transfer to Money (3 Minutes)

Help students connect carrots to real money:

“If carrots were dollars, what would saving look like?”
“What happens if you spend everything today and then need money tomorrow?”
“How does saving help you feel prepared?”

Keep answers concrete and simple.

Bonus Activity and Assessment: Future Needs or Wants?

Purpose

Students apply what they learned about saving for future wants and needs by deciding whether each example shows a situation where saving ahead is helpful.

Big Idea Reinforced

Saving today prepares you for both future wants and future needs.

Instructions (Teacher Script)

Say:

“In the story, Sammy Rabbit learned that saving helped him be ready for the future. Today, we are going to think about saving money.”

“Grown-ups take care of important needs like food and meals. But we still make choices about how we use and save our money for future wants and future needs.”

“Now we are going to read some sentences. If saving ahead would help in that situation, check YES. If saving ahead would not really make sense, check NO.”

Student Worksheet

Place a check by Yes or No.

Check “Yes” if saving ahead would help in this situation.
Check “No” if saving ahead would not help or is not needed.

Would saving ahead help?

“Sammy wants a new kite but has no money saved yet.”
Yes ________ No ________
“Sammy wants to buy a toy later this week and is saving money for it.”
Yes ________ No ________
“Sammy needs new school supplies next month and has not saved any money yet.”
Yes ________ No ________
“Sammy spent all his money today and now has none saved for something he wants later.”
Yes ________ No ________
“Sammy saves some of his allowance each week for a future goal.”
Yes ________ No ________
“Sammy has enough money for a small treat and decides to save part of it for later.”
Yes ________ No ________
“Sammy spends all his birthday money right away and does not save any for later.”
Yes ________ No ________
“Sammy saves his change every week so he can buy a skateboard in a few months.”
Yes ________ No ________

Discussion & Reflection Questions

After students respond, ask:

Which examples show planning ahead?
Why is saving helpful for future wants?
Why is saving helpful for future needs like school supplies?
What can happen if we spend all our money right away?
How does saving help us feel prepared and confident?

Extension (Grades 1–2 Writing or Drawing)

Complete the sentence:

“I save so I can ________________________________ later.”

Or draw a picture of yourself saving now for something you want or need in the future.

Differentiation and Assessment Strategies

Learner Strategies

ELL / Bilingual: Use bilingual edition; act out wants vs. needs with real classroom objects.
Needs Support: Provide picture cards labeled WANT and NEED for sorting before drawing activity.
Advanced: Goal Extension: “If you save $1 each week for 4 weeks, how much do you have?” “Is that for a want or a need?”

SEL Connection

Self-Management: Practicing patience and waiting.
Responsible Decision-Making: Thinking about consequences before spending. Saving builds confidence because children feel prepared.

Assessment – Exit Ticket

Standard/Support: Answer orally: “Why is it smart to save before you need something?”
Advanced: Complete the sentence: “I save today so that I can ______ tomorrow.”

Family Connection and Home Extension

Conversation Starters: Ask a grown-up about something they saved for. Was it a want or a need?
Optional Activity: At home, label two jars: “Wants” and “Needs.” When money is received, decide where it should go.
Encourage families to use the phrase: “Save before you need it.”
Money School: Join the Money School Membership at SammyRabbit.com/join.

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