Early Spending and Saving Decisions

Component: Spending & Saving Money | Grade Level: Grade 4-6

Learning Targets:

Targets for knowledge, skills, and behaviours below are possible targets. It is not expected that all will be covered by a single Teaching Unit. Teachers can select their learning targets using the Teaching Units provided (to the right), adaptations of these Teaching Units, or Units/Lesson Plans they develop on their own.


  • The difference between needs and wants
  • Spending and saving are two choices in how to use money
  • People can “save” different things in different ways – not just money
  • Others can try and influence money decisions
  • Spending uses money today, saving stores it for future use
  • Why saving – money and other things – is important and the possible benefits
  • Where money can be saved and the role of banks
  • Why we can’t always get things we want
  • Waiting and saving may be needed to get some things


  • Use money to purchase things needed and wanted
  • Save money
  • Open a bank account
  • Assess how advertising can try to affect money decisions


  • Consider the benefits that can come from saving for the future
  • Consider whether something is needed or wanted before making a purchase
  • As possible, save some of their money for the future
  • Consider the influence of advertising before making a spending decision

Teaching Unit:

Early Spending and Saving Decisions

It is important for everyone to understand the difference between needs and wants – and why most people can’t have everything they want – and that every decision involves trade-offs.

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