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teach children to save south africatm tcts satm is a national savings campaign which was first piloted in july 2008 after the successful launch and national interest generated this initiative was adopted as an annual programme of the south african banking industry and broader financial sector under the auspices of consumer education/financial education as an enabler of access development and transformation the aim of tcts satm is to teach children to save to foster a culture of saving and to promote volunteerism tcts satm highlights the important role that volunteer bankers/financial sector professionals can play in educating our nation s youth to become lifelong savers copyright © the banking association south africa july 2009 this resource may be adapted and copied for educational purposes provided that acknowledgement is given to the banking association south africa as producers of the original version the banking association south africa po box 61674 marshalltown 2107 www.banking.org.za[close]
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contents contents introduction to the tcts satm lesson plan checklist for facilitator activity 1 identify the difference between the needs and wants activity 2 make a savings plan activity 3 find out more about managing money portfolio story zanele s tips on saving portfolio activities curriculum links resources flash cards picture cards 2 3 4 6 9 13 14 22 25 26[close]
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introduction to the tcts satm lesson plan tcts satm lesson plan is supported by the department of education and is located in the economic and management sciences learning area of the school curriculum the facilitator for the activities in this lesson plan will be a volunteer banker/financial sector professional however teachers are encouraged to use the material as a supplementary resource for their own teaching portfolio activities for grades 4-7 are also provided which the teacher can use to assess learners progress as they work towards the achievement of specific learning outcomes los and assessment standards ass activities 1-3 are designed to be flexible so the facilitator can adapt them as needed to suit the abilities of learners in different grades the lesson plan focuses on the following learning outcomes lo1 the economic cycle the learner will be able to demonstrate knowledge and understanding of the economic cycle within the context of the economic problem the learner will be able to demonstrate knowledge and the ability to apply responsibly a range of managerial consumer and financial skills lo3 managerial consumer and financial knowledge and skills lo4 entrepreneurial knowledge and skills the learner will be able to demonstrate entrepreneurial knowledge skills and attitudes see page 22 curriculum links page for links to specific assessment standards and suggestions for integration with other learning areas key outcomes for the session facilitated by the volunteer facilitator at the end of the lesson the learner will be able to the difference between a need and want activity 1 make a savings plan activity 2 understand how budgeting can help us to spend money wisely activity 3 identify feedback is welcome any comments and suggestions from learners and teachers are encouraged these will help us to improve these resources in the future feedback can be sent to tcts satm programme coordinator e-mail tcts@banking.org.za fax 011 645 6821/40 22[close]
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checklist for facilitator materials needed lesson flash plan including portfolio activities of the savings plan page 7 template for activity 2 cards for activity 3 forms of education letter cards need/want for activity 1 copies picture evaluation department in the classroom introduce hand do yourself clearly out the need/want flash cards an icebreaker relax have fun 3[close]
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theme needs and wants d nee activity 1 identify the difference between needs and wants facilitator one of the most important things to help you learn about money is to know the difference between something that you `need and something that you `want 1 find out what learners already understand by the words `need and `want for example ask learners `can anyone tell me what the difference is between something you need and something you want `give me an example of something you need/want explain that something that you need is something you cannot live without something you must have explain that something that you want is something you would really like to have but can live without 2 give each learner a need/want flashcard and explain the activity for example `when i call out something you tell me if it is a need or want and hold up your flashcard to show me the word repeat instructions twice so that learners understand clearly 3 make two columns on the board/flipchart one headed `needs the other headed `wants during the activity write each item in the relevant column as learners decide if it is a `need or `want if there are different views or they incorrectly identify something as a want/need ask questions to clarify their ideas for example `could you live without x why do you want y make the session as interactive and participatory as possible ask learners if there are any other items they would like to classify as a need or want wa examples · we need clothes to keep us warm but is an expensive fashionable t-shirt a need or want want · is a pair of school shoes a need or want need ideas for items that can be discussed · house · sony playstation · food cakes bread vegetables kentucky fast foods · soccer boots · school books · school fees · camera · a pet dog/cat · water · movies · school uniform · music cds · rain coat · swimming pool · cellphone · bus fare · money · toys · chocolate · soap 4 nt[close]
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theme needs and wants facilitator now that we know the difference between needs and wants let us talk about how it can help us to make choices about what we buy and to save money 4 explain the following scenario/s and have a discussion about learners answers scenario 1 00 2 r20 r 10 rr50 you are given r120 to buy school shoes you also need school socks but you will be given the money to buy them at the end of next month when you get to the uniform shop some items are on special you have three choices which one will you go for give reasons for your choice a a fashionable shoe that you have always wanted but cannot wear to school r120 b an ordinary strong good quality shoe plus a pair of socks total r120 c an ordinary pair of shoes and extra money r100 plus r20 scenario 2 you have saved r50 for a school bag that you want when you get to the shop it has gone up and it is now r60 what do you do and why a go home and save another r10 b shop around for a cheaper bag in other shops c look for another bag that looks strong and costs r50 or less during the discussions acknowledge that making choices between needs and wants is not always easy for example learners may feel that it is important to wear fashionable clothes because it gives them a sense of identity helps them to fit in with a group i.e it helps to meet their `need to be accepted by their peers in this case ask learners which is a real friend someone who you enjoy being with and is there when you need him/her or someone who teases you just because you do not wear the right clothes acknowledge that choices about what we buy reflect our values the principles that guide us and things that are most important to us remember that advertising also influences people s choices about what to buy 5[close]
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theme saving money activity 2 make a savings plan facilitator what is saving 1 ask questions to find out what learners already understand by the word `saving explain that saving money means putting money away in a moneybox or in the bank so you can use it in the future sometimes saving is hard because there are always things that we think we need or want and these usually cost more money than we have but a good way to make sure we can afford to buy some of these things is to save in order to save you need to spend less money than you have for example if you have r1 try to only spend r80c so you can save 20c 2 show learners how a savings plan can help people to save make up a story about a fictitious person see the example about maria given below ask learners to help you to develop a savings plan for maria see the example on page 7 as you do this write up the plan on the board/flipchart example maria gets r10 a day she needs to buy lunch every day which costs r6 how much can maria save each day r4 at the end of one week how much money will maria save r4 x 7days r28 maria wants to buy a new dress that costs r56 how long will it take her to save r56 2 weeks 2 x r28 r56 note you can develop this example and add more needs/wants for maria to suit the level of learners mathematics skills 3 give learners the opportunity to develop their own savings plan give them a copy of the template see page 7 if you do not have enough time learners can make their plans in another lesson or in their own time note some learners may not get any money in that case they can develop a savings plan for maria or other fictitious person remember personal income and expenditure is a sensitive issue never force learners to share information about their personal circumstances rather allow them to learn through using fictitious stories or examples 6[close]
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theme saving money my savings plan every week i get r for example pocket money from your parents or any money you earn by doing odd jobs make a list of things that you buy for example lunch transport sweets and how much they cost put a star by the things that you need and add up those costs i get this money from every week i buy every week i spend r on things that i need every week i want to save r make a list of the things that you want but do not need to buy every week to do this i will spend less money on my saving goals if i save r every week next week i will have r in four weeks one month i will have r in two months i will have r i will put my savings in a money box and take it to the bank on the first saturday of each month 7[close]
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theme saving money facilitator how do banks help people to save 4 have a discussion about bank accounts explain why people have them and how they can help people to save outline the process of opening a savings account explain what the term `interest means in a simple way for example interest is the benefit you get for keeping your money in the bank the more money you have in the bank the more interest you will get and the faster your money will `grow opening a bank account before you open a bank account you will need to find out the answers to questions like these · how much do i need to open a bank account · where is the bank can you get there easily · does the bank have accounts for children · what other services does the bank offer for children · how much will you have to pay the bank for the services that you need · how much will you pay at other banks for the same services 8[close]
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theme budgeting it is recommended that this activity is only included in the lesson for grades 6 and 7 learners as it may be hard for grades 4 and 5 activity 3 find out more about managing money facilitator how can we make sure we spend money wisely 1 show children the two pictures and have a discussion about what has happened to this family see the story below and sample questions you can use the story to introduce learners to the concepts of debt interest and credit in simple way peter s family s experience peter s family really wanted the tv and sofa that they saw on special in a shop the shop said that it did not matter if they had not saved up enough money they could pay for the things by making a small payment each month for the first few months they paid the instalments then one month someone in the family got sick they had to use the money to pay the doctor they could not pay the shop they did not pay for a few months the shop came to take the tv and the sofa away but the family still has to pay the shop some money it furn ure deliv ery repo van new some questions to help guide the discussion in the second picture why do you think the parents are unhappy o d you think they made a good or bad choice to buy the goods before they had saved up more money advice can you give to this family to help them save what the purpose of this activity is to teach children to spend money wisely no matter how little they get they have to learn the culture of saving 9[close]
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theme budgeting facilitator one thing that can help this family is to budget 2 explain that a budget is a plan that helps you work out how to save and how to spend to budget you need to know how how much money you get your income much money you usually spend every week or month your expenses a budget will help you to see how much money you can save if your expenses are more than your income you need to find out how you can spend less for example by looking at each item in the budget and asking questions like is this something that i really need to buy this month how can i save money so that next month i can buy the nice shirt i want 3 ask learners to help you develop a budget for peter s family see the example below and the guiding questions draw a budget sheet on the board and complete the relevant sections as learners identify the items ideas for questions to help guide the discussion hat w what what if if does this family need to know for their budget their needs and wants are their needs for example rent food clothes transport are their wants for example toys new furniture a tv their total expenses are less than their income how much could they afford to save every month their total expenses are more than their income what should they do spend less items do they really need to buy every month what hat w items do they not need every month for example take away food visits to cinema some clothes peter s family s budget for one month sources of income for example parents salaries grants amount r total income expenses the things we buy every month total expenses balance income expenses money for unexpected things emergencies or treats savings to put into a moneybox/savings account 10[close]
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theme budgeting facilitator keeping track of your expenses can help you to budget 4 explain that keeping track of how much you spend helps you to see if you are keeping to your plan your budget if one month you spend more think about how you can spend less another month emphasise that it is important to make sure that you have some money to save that is the money you may need when you have unexpected expenses for example to pay for medicine if you are sick or to buy a special birthday present ask learners for their ideas of how they can keep track of the money they spend every week month suggest that one way is to keep a notebook in which they regularly write down what they buy you could draw a table they could use for this like the one below keeping track of what i spend at the beginning of august i had r40 my goal to save r5 date 1 august 09 3 august 09 what i bought sweets r5 bus fare to visit friend r6 amount left r35 r29 note the issue of personal income and expenses is sensitive allow learners to use fictitious expenses that are reasonable for learners their age and context rather than asking them to reveal details of their own or their family s finances 11[close]
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ending the session show learners zanele s story and briefly say what it is about explain that in another lesson their teacher will read the story with them and ask them to do a portfolio activity based on the story and what they have learned in this lesson allow a few minutes at the end of your session to check their understanding of some of the key points and get some feedback from learners you could use questions such as o d you think saving a little bit of money each month is a good idea why/why not ho w is going to make a savings plan or tell a friend or family member about saving when they get home did you enjoy most about this session part did you enjoy least hat w hich w hat w do you think i can do to make the activities more interesting/fun when i visit another school else would you like to find out if i was invited to come to visit your class again hat w thank learners for their participation remember to leave a copy of the lesson plan and any relevant resources with the teacher encourage the teacher to stay in touch with the tcts satm programme coordinator and let us know how the portfolio activity goes contact details tcts satm programme coordinator e-mail tcts@banking.org.za fax 011 645 6821/40 thank you dankie siyabonga rea livhuwa siyabulela rea lebowa rea leboha rea leboga hakhensa siyathokoza siyabonga 12[close]
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tips on saving z zanele s need or want anele is a 10 year old girl she lives with her loving aunt uncle and cousins in mpumalanga zanele s aunt ntsiki is a dressmaker she makes beautiful seshweshwe dresses for the women s social gatherings she is an entrepreneur because she has her own business from which she makes a living every month aunty ntsiki buys food for the family she buys lots of fresh vegetables and fruits because they are affordable and healthy she also buys more beans than meat they are a great source of protein but not as expensive as meat in the evenings when zanele s uncle zamani returns from work the whole family sits in the kitchen they switch off the lights in the other rooms to save electricity aunty ntsiki cooks dinner while zanele and her cousins either do their homework or help with the food preparations as well as saving electricity zanele and her family are careful about what they throw away they sort their waste into separate containers for paper glass plastic and cans unemployed people in their area collect these materials and make money by selling them to recycling companies the recycling companies break down the materials so they can be used again to make new things recycling saves raw materials it also reduces the amount of waste that goes to landfill sites municipal rubbish dumps bottles paper zanele s long-term goal is to go to university her shortterm goal is to be able to buy presents for her family on their birthdays and to have money for other things she wants every week zanele saves her coins in a moneybox at the end of the month she has r5 that she puts in a bank account to keep it safe and earn interest for her short-term plans like buying the r20 scarf for her aunt r10 jigsaw puzzle for her cousin and r25 sewing kit for herself she always thinks of different fun ways of making and saving money for example her aunt gives her r8 every weekday for transport and school lunch some days she also gets a lunch box when she gets a lunch box she spends less money at the school tuck shop if she also spends less on sweets she can save r5 a week at the moment she has to buy the presents on her list in two weeks time the holidays are beginning and she has come up with a plan to sell popcorn in the first week of the holidays to raise more money she will try to sell 10 packets of popcorn a day for 5 days she will sell each packet for r1 to make 50 packets of popcorn she will buy a big bag of popcorn for r10 cooking oil for r5 and a pack of 50 small plastic bags for r5 zanele s family is very proud of her for taking the initiative to save 13[close]
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