Florida SS.8.FL.3.7
The Standard
Discuss the different reasons that people save money, including large purchases (such as higher education, autos, and homes), retirement, and unexpected events. Discuss how people's tastes and preferences influence their choice of how much to save and for what to save.
Florida Next Generation Sunshine State Standards for Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain why people set money aside for near-term goals, future plans, and financial surprises. They compare how personal interests and priorities change savings goals and amounts.
What Mastery Looks Like
- Given a household budget, students choose several savings goals and assign a reasonable amount to each. They explain their choices using the household’s needs, interests, and future plans.
Common Misconceptions
- Students may treat savings as whatever remains after spending instead of a planned budget item. They may confuse emergency funds with predictable expenses or assume people with equal incomes should save identical amounts.
How to Assess It
- Exit ticket: Two people earn the same amount but have different interests and plans. Name one savings goal for each and explain why their monthly amounts might differ.
Lesson moves
Ways to Teach It
Give pairs $1,000 in play money and goal cards, then have them divide funds among college, transportation, housing, emergencies, and retirement.
Ask students to write: Why might two people with the same income choose different savings goals and monthly amounts?
Run a budget challenge where teams draw preference and surprise-expense cards, revise savings plans, and explain each change.
Have students price a used car online, choose a monthly savings amount, and calculate how long reaching the down payment would take.
Keep exploring
Related Standards
- 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.5.1
Explain that after people have saved some of their income, they must decide how to invest their savings so that it can grow over time.
- SS.8.FL.3
Identify and compare the different means and risks of saving and investing money, including the impact of inflation and interest rates.
- 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.
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