4.10.E
The Standard
describe the basic purpose of financial institutions, including keeping money safe, borrowing money, and lending
Texas Essential Knowledge and Skills for Mathematics
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students describe why people use banks and credit unions. They explain how these institutions keep money safe, lend money, and allow people to borrow money.
What Mastery Looks Like
- Students can explain that banks and credit unions protect deposited money and provide loans. They correctly identify who borrows, who lends, and who must repay the money.
Common Misconceptions
- Students may think deposited money stays in a personal box at the bank. They may confuse borrowing with lending or think borrowed money does not need to be repaid.
How to Assess It
- Give an exit ticket with three situations: depositing birthday money, getting a car loan, and giving a loan. Students label each as keeping money safe, borrowing, or lending.
Lesson moves
Ways to Teach It
Set up a classroom bank where students deposit play money, request loans, and record each transaction on simple account slips.
Ask students to explain why someone might keep money in a bank instead of at home.
Play a card sort where teams match financial situations to keeping money safe, borrowing, or lending.
Compare saving for a bicycle with borrowing money for it, including who provides the money and who repays it.
Keep exploring
Related Standards
- 3.9.E
list reasons to save and explain the benefit of a savings plan, including for college
- 6.14.F
describe the value of credit reports to borrowers and to lenders
- 3.9.D
explain that credit is used when wants or needs exceed the ability to pay and that it is the borrower's responsibility to pay it back to the lender, usually wit...
- 2.11.E
identify examples of lending and use concepts of benefits and costs to evaluate lending decisions
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