Florida SS.4.FL.3

SS.4.FL.3 is a Florida social studies standard. These are the benchmarks under it.

• SS.4.FL.3.1

  Identify ways that income is saved, spent on goods and services, or used to pay taxes.

• SS.4.FL.3.2

  Explain that when people save money, they give up the opportunity to buy things now in order to buy things later.

• SS.4.FL.3.3

  Identify ways that people can choose to save money in many places—for example, at home in a piggy bank or at a commercial bank, credit union, or savings and loa...

• SS.4.FL.3.4

  Identify savings goals people set as incentives to save. One savings goal might be to buy goods and services in the future.

• SS.4.FL.3.5

  Explain that when people deposit money into a bank (or other financial institution), the bank may pay them interest. Banks attract savings by paying interest. P...

01

What Students Need to Do

Students explain why people set money aside for future purchases or emergencies. They compare places to keep money and make a simple savings plan based on a goal.

02

What Mastery Looks Like

A student can name a savings goal, choose an amount to save regularly, and calculate when the goal will be reached. The student can explain what spending must wait and why a bank or credit union may be safer than keeping cash at home.

03

Common Misconceptions

Students may think saving means keeping only whatever money is left after spending. They may overlook the tradeoff between buying something now and reaching a later goal. Some think money in a bank disappears or cannot be accessed again.

04

How to Assess It

Give this exit ticket: “You want a $24 game and save $4 each week. How many weeks will it take, and what might you give up now?”

1. 01

   Give pairs $20 in play money, expense cards, and an $8 goal, then have them choose spending, saving, and explain one tradeoff.

2. 02

   Ask students to write: “Would you keep $50 in a jar or a bank account, and why?”

3. 03

   Play a savings race where students draw income and purchase cards, choose an amount to save, and track progress toward a $30 goal.

4. 04

   Have students price a desired classroom item and create a weekly savings plan showing the amount and time needed.

• SS.1.E.1.5

  Recognize the importance of saving money for future purchases.

• SS.8.FL.3.7

  Discuss the different reasons that people save money, including large purchases (such as higher education, autos, and homes), retirement, and unexpected events....