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Year 2

Spending choices: save, spend or give?

I know that I can choose what to do with my money.

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New
New
Year 2

Spending choices: save, spend or give?

I know that I can choose what to do with my money.

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Lesson details

Key learning points

  1. Not being able to afford something we want can affect how we feel.
  2. Money doesn’t have to be spent all at once.
  3. Money that isn’t spent is saved – it doesn’t disappear and can be spent later.
  4. By saving money over time, you can afford more expensive things.

Keywords

  • Charity - Organisations for helping people or other things that are in need.

  • Spend - To give money to pay for goods and services.

  • Save - To save is to keep money instead of spending it, especially in order to buy a particular thing.

Common misconception

Many children are not familiar with the idea of saving or not spending their money.

Discuss times that the children may have bought something and then regretted it later. It's a good idea to think whether you really want something before you buy it.


To help you plan your year 2 financial education lesson on: Spending choices: save, spend or give?, download all teaching resources for free and adapt to suit your pupils' needs...

A good way to start the lesson might be to ask the children whether they have ever saved up for or had to wait for something. How did they feel when they had to wait and then received the item/object? Is it good to sometimes wait for things?
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Equipment

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Content guidance

  • Depiction or discussion of sensitive content
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Supervision

Adult supervision recommended

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Licence

This content is © Oak National Academy Limited (2025), licensed on Open Government Licence version 3.0 except where otherwise stated. See Oak's terms & conditions (Collection 2).

Lesson video

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6 Questions

Q1.
Find the missing word. means feeling sad or disappointed at something you have done.
fair
guilty
jealous
Correct answer: regretful
Q2.
Find the missing word. means doing something or forgetting to do something and feeling bad.
fair
Correct answer: guilty
jealous
regretful
Q3.
Andeep and Laura get paid to help out in the garden. Andeep does more work. Which of these could be fair?
Correct answer: Andeep gets paid more.
Laura gets paid more.
Correct answer: They get paid the same.
They don't paid because Laura did not do much work.
Q4.
Andeep finds £1 on the ground. How might he feel?
Correct answer: happy
Correct answer: excited
jealous
angry
Q5.
Laura is given £5 she spend. She toys a toy. The following day, she sees something she really wants but cannot afford it. How might she feel?
happy
excited
Correct answer: regretful
worried
Q6.
Laura finds £1 coins in different places. Some she keeps. Which ones should she give to someone responsible to try and find the owner?
£1 coin found in a forest
Correct answer: £1 coin found in her classroom
£1 coin found in the middle of a park
Correct answer: £1 coin found in her school library

6 Questions

Q1.
Andeep has £5. He spends £3. How much money does he have left?
Correct answer: £2
£3
£4
Q2.
Match together the words and the meanings.
Correct Answer:charity,an organisation that helps people or animals in need.
tick

an organisation that helps people or animals in need.

Correct Answer:save,keep or store
tick

keep or store

Correct Answer:spend,use to buy something
tick

use to buy something

Q3.
Laura has £10. She spends £7 and gives the rest to charity. How much does she give to charity?
Correct Answer: £3, 3, three
Q4.
Andeep has three £1 coins. Laura has two £2 coins. Who has more money?
An image in a quiz
Correct answer: Laura
Andeep
They have the same amount
Q5.
Laura has £5. She is given another two £1 coins. How much does she have in total?
£6
Correct answer: £7
£8
£9
Q6.
Andeep has £9. He is given another £2 and then he spends £6 on a toy. How much money would he have left?
£3
Correct answer: £5
£6
£11

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