Elementary: 3rd Grade Financial Literacy Concepts
EARN, SAVE, SPEND, GROW
Students will learn to set financial goals, save money, understand the value of money, and recognize how their choices impact their finances. Students should also grasp the basics of budgeting, income, and how banks assist with saving.
BIG IDEAS
- We can’t always get what we want.
- Money decisions affect the community.
- When we say ‘yes’ to purchasing one thing, we are saying ‘no’ to purchasing another.
- Budgeting is a great way to plan and an important habit to learn and practice.
- Using money responsibly requires careful attention, time, and understanding.
OPTIONAL QUESTIONS
- Why would I want to save?
- What happens if I spend more money than I have?
- Besides using cash, how else can I make purchases?
LEARNING OUTCOMES
- Recognize that choices have outcomes (benefits or consequences).
- Understand taxes and public goods.
- Identify ways people make a living in the community.
- Explain ways to make saving a habit and why saving is beneficial.
- Explain the purpose of a budget.
- Define income.
- Solve word problems involving earning, spending, and saving
Vocabulary
Social Studies Standards
My Community is Utah
Standard: YOUR RIGHTS AND RESPONSIBILITIES AS A COMMUNITY MEMBER Standard 3.3.6
Financial Literacy Concept: Money decisions affect the community. Understand taxes and public goods.
Concept Match: Taxes
Description: I can determine the benefits of public goods and services by evaluating a read aloud, two column list, and daily schedule.
Community Helpers Quiz
Standard: YOUR RIGHTS AND RESPONSIBILITIES AS A COMMUNITY MEMBER Standard 3.3.4
Financial Literacy Concept: Identify ways people make a living in the community.
Define income.
Concept Match: Earn
Description: Watch the "Together We Can" video to learn about community helpers and then take the quiz.
Neighborhood Good
Standard: YOUR RIGHTS AND RESPONSIBILITIES AS A COMMUNITY MEMBER Standard 3.3.7
Financial Literacy Concept: We can’t always get what we want.
Recognize that choices have outcomes (benefits or consequences).
When we say ‘yes’ to purchasing one thing, we are saying ‘no’ to purchasing another.
Concept Match: Economics
Description: Challenge your students to solve familiar problems and discover how they can impact their community by playing Neighborhood Good. Students will select issues within a fictional community that resonates with them, speak with neighbors to better understand the issue, and develop a plan of action. Students can address three different challenges or revisit a challenge to try different solutions.
Getting Involved in Your Community
Standard: YOUR RIGHTS AND RESPONSIBILITIES AS A COMMUNITY MEMBER Standard 3.3.7
Financial Literacy Concept: We can’t always get what we want.
Recognize that choices have outcomes (benefits or consequences).
When we say ‘yes’ to purchasing one thing, we are saying ‘no’ to purchasing another.
Concept Match: Economics
Description: Students will be able to define civic engagement and identify stakeholders in civic engagement and their roles.
Mathematics Standards
U.S. Mint Lesson Plans
Standard: NUMBER AND OPERATIONS IN BASE TEN Standard 3.NBT.2
Financial Literacy Concept: Money has value and can be saved or used in other ways.
Besides using cash, how else can I make purchases?
Concept Match: Save, Spend
Description: Browse the U.S. Mint Coin lesson plans. Use coins to teach kids math and finance concepts, as well as general information about the Mint and coins.
Raquel & Stella Set Goals for their Money
Strandards: OPERATIONS AND ALGEBRAIC THINKING Standard 3.OA.8
Financial Literacy Concept: Solve problems about earning, spending, or saving.
Concept Match: Earn, Save, Spend
Description: This lesson focuses on the idea that kids can save their money in a variety of ways.
Piggy Bank Math
Strandards: OPERATIONS AND ALGEBRAIC THINKING Standard 3.OA.3
Financial Literacy Concept: Solve problems about earning, spending, or saving.
Concept Match: Earn, Save, Spend
Description: Students use coin values to solve problems.
English Language Arts Standards
Searching for Blackbeard
Standard: SPEAKING AND LISTENING Standard 3.SL.1
Financial Literacy Concept: Sometimes we need to choose one financial goal over another.
Why would you choose one option over another?
Why would I save?
Concept Match: Save and Spend
Description: This lesson focuses on the students wants and making choices will be the most concrete skills and takeaways.
Gill Makes a Budget
Standard: READING Standard 3.R.9 and WRITING Standard 3.W.4
Financial Literacy Concept: Explain the purpose of a budget.
Budgeting is a great way to plan and an important habit to learn and practice.
What happens if I spend more than I have?
Explain ways to make saving a habit and why saving is beneficial.
Concept Match: Budget
Description: This lesson will focuses on how important budgets are when deciding if you can afford to buy something.
Toby and Ronan set a Budget
Standard: READING Standard 3.R.9 and WRITING Standard 3.W.4
Financial Literacy Concept: Explain the purpose of a budget.
Budgeting is a great way to plan and an important habit to learn and practice.
What happens if I spend more than I have?
Explain ways to make saving a habit and why saving is beneficial.
Concept Match: Budget
Description: This lesson will focuses on setting a budget to get what you want and need.
Money Minded
Standard: WRITING Standard 3.W.4
Financial Literacy Concept: Using money responsibly requires careful attention, time, and understanding.
Concept Match: Presenting Financial Plans
Description: This lesson will focuses on banks, deposits, loans, and interest, as well as how large purchases are made and why borrowing costs more over time.
Additional Resources:
- Finance In the Classroom Additional 3rd Grade Activities
- Take Charge America Money Lesson Plans Grades 1-5
- EconEdLink Education Personal Financial Resources
- Federal Reserve Teaching Resources K-5
- JA K-12 Self-Guided Program Resources Grades 3-5
- Start Small and Save Up: Grades K-5
- Practical Money Skills: Grade 3-6
- Family-At-Home Financial Fun Pack: Grade K-12
- Money Smart Educator Guide: 3-5
- Smart Path All-Access Learning: Enabling Students with Developmental Disabilities
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