Alabama Social Studies SS24.K.4
The Standard
Explain the process of earning, saving, and spending money.
2024 Alabama Course of Study: Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain that people can earn money by doing work. They describe saving as keeping money for later and spending as using it to buy something.
What Mastery Looks Like
- A student can tell where money came from in a simple story. Given three play dollars, they can buy a two-dollar item and show the dollar they have left to save.
Common Misconceptions
- Some children think money appears whenever they want it. Others think spending money does not change how much they have, or that saving means buying something right away.
How to Assess It
- Show a picture of a child earning three dollars for walking a dog and a toy priced at two dollars. Ask, "Where did the money come from? What could the child spend and save?"
Lesson moves
Ways to Teach It
Give each child three play dollars as pay for a pretend pet-sitting job, then have them buy a two-dollar item and save one dollar.
Ask, "You earned three dollars. Would you buy a two-dollar snack or save for a four-dollar book? Why?"
Play a sorting game with picture cards showing someone getting paid, buying a pencil, and putting money in a jar.
Circle a snack price in a grocery flyer and ask how someone could earn the money to buy it.
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Printable SS24.K.4 Worksheet
A ready-to-print activity worksheet aligned to SS24.K.4, with an answer key for the teacher on its own page. No account needed.
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Related Standards
- SS24.K.5
Describe the concept of exchange and how money is used to purchase goods and services.
- SS24.1.3a
Explain the concept of using money to acquire goods and services to satisfy needs and wants.
- SS24.2.4
Explain the economic processes of production and distribution, including the roles of producers, consumers, goods, and services.
- SS24.E.8a
Analyze how spending and production decisions made by households, businesses, and government determine overall levels of income, employment, and prices.
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