Banking · Saving · Video Lesson
What Is Saving?
A free video lesson introducing students to the concept of saving — why it matters, how to get started, where to keep savings, and how saving today creates financial security for the future. No account required.
What Students Learn
Learning objectives
- What saving means — setting aside money now rather than spending it immediately
- The difference between short-term savings goals (clothes, gifts) and long-term goals (car, college, home)
- Why saving for emergencies matters — the goal of 3–6 months of living expenses in reserve
- Where to save safely — savings accounts, checking accounts, CDs, and money market accounts
- Why keeping money at a financial institution is safer than keeping cash at home — and how savings can earn interest
- The concept of deferred consumption — choosing to save now in exchange for greater financial security later
Video Lesson
Watch: What Is Saving?
This short video introduces saving as a financial habit — covering what saving is, why it matters, and how to approach it regardless of income level. Works well as an opener for a saving or banking unit, or as a standalone lesson for younger grades or life skills classes.
For Teachers
How to use this lesson
Show the video to the whole class, then use the discussion questions below to deepen understanding. Encourage students to share their own saving experiences — what they have saved for, where they kept the money, and what motivated them to save.
Discussion questions: What is something you have saved for? What was harder — starting to save, or sticking to it? What would happen if you had a car repair or medical bill and no savings? Why is keeping money in a bank account safer than keeping it at home?
Well-suited for Grades 5–8 as a first introduction to saving, and for high school or adult ed as a review of foundational concepts before moving into savings accounts, interest, or retirement planning.
Read the Lesson
What is saving?
Saving is when you don’t spend all the money you’ve earned — you set some of it aside instead. It’s the process of putting money away for future use rather than spending it immediately.
Why should we save money?
You can save toward short-term goals, like new clothes or a gift, or long-term goals, like a car or a house. Saving also helps cover unexpected expenses, such as medical bills or car repairs — emergencies that can’t be predicted and can create a large financial burden without enough savings.
Saving can help a person or family become financially secure. You can also invest your savings and potentially make a profit, so you have funds to spend later while also growing the amount you have. Saving money is a good habit to build daily.
Where can you save?
Where you save depends on how much you’re saving and what you’re saving for. Some smaller savers keep money in a can or piggy bank — fine for small amounts and short-term saving, but not recommended long-term.
For real savings, consider deposit accounts such as savings accounts, checking accounts, certificates of deposit, and money market accounts at a bank, savings institution, or credit union. Money kept at a financial institution is protected against loss, unlike cash at home that could be lost or stolen — and it can also earn interest.
How much money should you save?
Start by building an emergency fund. Unexpected financial emergencies are one of the most important things to save for — aim for three to six months of living expenses to stay financially secure.
After that, consider saving a percentage of your income — a common goal is 10% or more, if you’re able.
How do you start saving?
Don’t treat savings as whatever is left over after every want and need is met — decide up front how much of each paycheck you want to save. Saving is a trade-off: spending less now for more financial security later. Knowing what you’re willing to give up makes a savings goal easier to reach, so try to limit spending and focus on saving.
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