Lesson 5: Every little helps!



  • Single class period

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Some people are natural savers, but there are lots of people who never think to put money aside now for the future. In this lesson, students think about what it means to save and why it is beneficial to do so. They will also evaluate the different places that people choose to put their savings.

Step-By-Step Instructions

Activity One: Review of Lesson 4 Homework Task

1.  Ask students to swap their printed bank statement from Lesson 4: Homework Task with the person sitting next to them.

2.  Ask a sample of students to present the bank statement.

3.  Ask the class whether they could see any evidence of saving in any of the bank statements presented?  Invite them to explain their answers.

Activity Two: Every little helps!

1.  Explain to the class that they are going to think about the reasons people might save.

2.  Invite students to brainstorm all the phrases they know which use the words ‘save’, ‘saver’ or ‘saving’ and record their responses on the white/blackboard.

3.  Invite students to think of the images that come into their minds when they consider phrases like: ‘saving for a rainy day’ or ‘a penny saved is a penny earned’. You may wish to explain that the phrase ‘Saving for a rainy day’  means to reserve money on a regular basis to pay for an unexpected future event or purchase and ‘A penny saved is a penny earned’ means it is as useful to save the money that you already have as it is to earn more.

4.  Ask students why people save (i.e. put away money now for later use). Depending on your group you may wish to provide one or more of the following prompts:

  • Save for a specific money goal
  • Save to pay for unexpected future costs
  • Save to reduce the need to borrow

5.  Ask students where people put their savings. Depending on your group you may wish to provide one or more of the following prompts:

  • Under the mattress
  • Piggybank
  • Savings account
  • Credit Union
  • An Post

6.  Invite students to identify the advantages and disadvantages associated with each of these places. For example: people who keep their savings under their mattresses have easy access to their money but do not earn any interest and run the risk of losing their money if, for example, their house is robbed.

7.  Conclude by explaining that it is important to be clever about managing and protecting savings and that saving even a very small amount each week is good, as it all adds up over time – every little helps.

Homework Task

Invite students to write a short paragraph outlining the benefits of regularly saving some money (e.g. €10 per month).

The steps for reviewing this homework task are given at the start of Lesson 6.

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