Save, spend, borrow or lend?
I can choose what to do with my money and understand the consequences of my decisions.
Save, spend, borrow or lend?
I can choose what to do with my money and understand the consequences of my decisions.
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Lesson details
Key learning points
- Saving money means we can buy things we want.
- Decisions can be made as to how much money you spend or save.
- Lending money to other people needs to be thought through carefully.
- Borrowing money from other people needs to be thought through carefully.
Keywords
Consequences - Consequences are the results of an action.
Borrow - Borrow means to use someone else’s money. It will be paid back later.
Debt - A debt is an amount of money that needs to be paid back.
Lend - Lend means give someone money temporarily. It will need to be paid back later.
Owe - If you owe money, you need to pay someone back.
Common misconception
If you have borrowed money from someone, it's their responsbility to ask for it back.
It's the reponsibility of the borrower to remember and pay it back.
To help you plan your year 5 financial education lesson on: Save, spend, borrow or lend?, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 5 financial education lesson on: Save, spend, borrow or lend?, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
We use learning cycles to break down learning into key concepts or ideas linked to the learning outcome. Each learning cycle features explanations with checks for understanding and practice tasks with feedback. All of this is found in our slide decks, ready for you to download and edit. The practice tasks are also available as printable worksheets and some lessons have additional materials with extra material you might need for teaching the lesson.
The assessment exit quiz will test your pupils' understanding of the key learning points.
Our video is a tool for planning, showing how other teachers might teach the lesson, offering helpful tips, modelled explanations and inspiration for your own delivery in the classroom. Plus, you can set it as homework or revision for pupils and keep their learning on track by sharing an online pupil version of this lesson.
Explore more key stage 2 financial education lessons from the Priority spending unit, dive into the full secondary financial education curriculum, or learn more about lesson planning.
Equipment
Content guidance
- Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
Lesson video
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