Savings GamesBuilding the value and benefits of saving into the public education curriculum

Lessons Learned from Dad As the oldest of eight children, one would

think saving would have been impossible. BUT my father always saved – even if only a

small amount each payday. When I asked my parents how did you start

saving, they answered with some of the lessons about daily living they learned in school. To raise the individual savings rate in America, let’s bring those lessons back!

For example: Pre-K & Kindergarten Learn to recognize pennies, nickels,

dimes and quarters. Buy small items at the classroom

store where everything costs less than 25 cents!

It’s special to be shopkeeper for the day.

First Grade Learn to recognize paper money. Use play money in $1.00, $5.00,

$10.00 and $20.00 denominations Play games with a pretend savings

passbook and enter how much you earn each game day.

Second or Third Grade

What’s that dot? Learning the decimal point.

Do I NEED it? Or do I just WANT it?

Fourth Grade A visit from TIAA-CREF A savings game with TIAA-CREF

– everyone starts with $1.00 Add to your TIAA-CREF account

during the year Celebrate the best savers at

year end (not the amount because that would disadvantage some students) but the consistency of saving

Fifth or Sixth Grade Your TIAA-CREF rep returns – everyone

knows the rep by now and is excited A new savings game begins – the

students who are most diligent about saving are in a contest for a prize at year end.

Add to TIAA-CREF accounts during the year

Students write about and discuss ways of making money and ideas for balancing saving and spending.

Seventh or Eighth Grade Continue saving with the TIAA-CREF passbook Conversations with adults – parents or others –

and class discussions: How do you decide how much to save and how

much to spend? How do you avoid spending money you want to

save/have saved? What are some things you do to manage your

money? How do you keep track? How do you decide when something is a need

or a want? The TIAA-CREF rep attends 8th grade graduation

and awards a prize to the student who wrote the best essay on the value of saving money!

HighSchool Practical matters – how to balance a checkbook,

how to create a spending/saving budget, how to make saving a lifelong habit, how to keep saving (even a little) despite pressures to spend.

Jobs, perhaps at the school, babysitting, dog walking, mowing lawns and so forth. Does half go into savings?

Practical discussions around “value” and “sale” and “need” versus “want” – there’s a lot of pressure in high school to wear expensive, trendy clothes. How do you keep up without going broke? Do you have to keep up?

HighSchool cont.

What’s a stock? What’s a bond? How is a bank different from other places to save?

How do you choose TIAA-CREF or Fidelity or another vendor?

What is a risky investment versus a safe one? What mix of savings is good at different ages?

At graduation, the TIAA-CREF rep awards a scholarship to the senior(s) who have consistently saved throughout K-12.

Information on Saving Money MoneyInstructor.com PBS Kids TIAA CREF

Fiction and Non-Fiction for Kids Double Fudge by

Judy Blume Money Hungry by

Sharon Flake True Believer by

Virginia Euwer Wolff

The Kid’s Guide to Money: Earning It, Spending It, Growing It, Sharing It by Steve Otfinoski

Smart-Money Moves for Kids by Judith Briles

Ultimate Kids’ Money Book by Neale Godfrey

How Money Helps You Reach Your Goals

Short term need or want:

Movie ticket & popcorn $15.00

Think about: If I take $15.00 out of

my savings, can I still save enough on time to go on the camping trip?

Is there another way to make some more money?

Long term need or want:

Camping trip $150.00

Think about: How much can I save

each week? How long will it take

me to save this much? The trip is in 3 months

– can I reach this goal by then?

“Out of Sight”

Once you put money into savings, you may be tempted to spend it because you know it is there.

Keep some money to spend and let the money you’ve saved grow.

Check out your monthly statements and watch the interest and your additional savings contributions add up!

Make Saving FUN: Savings Games!