TEACHING AND LEARNING SAVING MONEY WORKSHEET LESSON - PERSONAL FINANCE AND MONEY MANAGEMENT - SAVINGS ACCOUNT LESSON PLAN - SAVINGS ACCOUNTS - INTEREST RATES

SAVINGS ACCOUNT INTRODUCTION LESSON

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A worksheet lesson introducing students to the concept of a Bank Savings Account.

Also introduces the concepts of Deposit and Withdrawal.

LESSON LEARNED

Bank Savings Account

OTHER SKILLS REINFORCED

Addition

Percentages (optional)

Multiplication (optional)

SUGGESTED

GRADE LEVELS

6+

Worksheet is customizable for multiple levels.

Suggested Savings Account Lesson Plan for this Worksheet
A safe and easy way to save your money is with a bank savings account. A bank savings account allows you to deposit money (add money to your account) or withdraw money (remove money from your account) at any time. In return for keeping your money at the bank, the bank pays you money, also known as interest.

Interest will be earned on the money you have on deposit at the bank. Since you may deposit or withdraw money each day, the bank will calculate how much money you should receive in interest. You will also receive a periodic statement from the bank listing your deposits, withdrawals, interest, and account balances. Each bank may pay a different amount of interest, so it makes sense to look at several banks to decide which one to use.

For example, if you have $100 and save it in a bank savings account, and the bank pays 5% interest, then in one year you will have an extra $5.00 in interest, or $105 in total. Therefore, the bank paid you $5.00 for saving your money with them.

Savings Account WORKSHEET Instructions

This worksheet is an introduction to a bank saving account. Students need to fill in the table with the missing values for each of the problems.

The first column is the beginning savings amount. This is the amount that will be saved for one year. The next column is the interest rate that will be earned that year. The next two columns need to be filled in by the student. Interest is the dollar amount of interest earned for the year. The last column is savings in one year, which is the beginning savings plus the interest earned. As an option, the interest column may be automatically filled in, leaving the student only to calculate the ending savings amount.

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