Grade 3 · Social Studies
Quarter 2 · Week 3 · TEKS
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This Grade 3 social studies lesson focuses on economics, specifically on understanding the purposes of earning, spending, saving, and donating money. Students will identify different ways people earn money, how they choose to spend or save it, and the importance of donating. They will also learn to create a simple budget that allocates money for spending and saving, helping them develop foundational financial literacy skills.
Students should understand basic money concepts such as what money is used for and recognize coins and bills.
Earning money means receiving money in exchange for work or services. Examples include doing chores, having a job, or selling something. It is important to help students understand that money is earned by providing effort or value to others.
Spending money means using money to buy goods or services. Students should learn that spending is necessary for obtaining things they want or need, such as food, clothes, or toys. Discuss how spending decisions can affect how much money is left.
Saving money means keeping some money aside instead of spending it right away. Saving helps people prepare for future needs or emergencies. Introduce the idea of saving as a way to reach goals, like buying something special later.
Donating means giving money or goods to help others or support causes. Explain that donating is a way to share and help people in need, and it is an important part of being a responsible community member.
A budget is a plan for how to use money. It helps people decide how much money to spend and how much to save. Teach students to allocate money by dividing it into categories, such as spending and saving. Use a simple worksheet where students can decide how to split a given amount of money.
If you earn $10 from doing chores, and you want to save $4 and spend the rest, how much money will you spend?
You start with $10. If you save $4, subtract that from $10 to find out how much is left to spend: 10 - 4 = 6. So, you can spend $6.
You will spend $6.
You have $15. You decide to save $5 and donate $3. How much money do you have left to spend?
Add the money saved and donated: 5 + 3 = 8. Subtract this from the total money: 15 - 8 = 7. So, you have $7 left to spend.
You have $7 left to spend.
Begin by asking students if they have ever received money as a gift or for doing chores. Show images or play money and ask what they might do with the money.
Students share their experiences with money and discuss what they might spend money on or save for.
This activity activates prior knowledge and introduces the concept of earning and using money in everyday life.
Provide scenarios or role-play situations where students earn money (e.g., doing chores), then decide how to spend, save, or donate it. Use play money for hands-on practice.
Students participate in role-play, earning play money, and then making choices about spending, saving, and donating.
Hands-on activities help students understand the practical aspects of managing money and the choices involved.
Define and explain the terms earning, spending, saving, and donating. Use examples and relate them to students' experiences. Introduce the concept of a budget as a plan for money.
Students listen and take notes or draw pictures representing each term. They ask questions to clarify understanding.
Clear definitions and examples help students build vocabulary and conceptual understanding of economic terms.
Guide students to create a simple budget using a worksheet. Provide a fixed amount of money and ask them to decide how much to spend and how much to save. Discuss their choices as a class.
Students complete the budget worksheet, allocating money to spending and saving categories. They share their budgets and explain their decisions.
Creating a budget reinforces the idea of planning money use and balancing spending and saving.
Ask students to explain ways people earn, spend, save, and donate money. Have them present their budget and reasoning. Use an exit ticket where students list one way to earn money and one way to save money.
Students verbally explain the four purposes of money and complete the exit ticket independently.
Assessment through explanation and exit ticket confirms students’ understanding of key concepts and skills.
Students participate in role-play, earning play money, and then making choices about spending, saving, and donating.
Name one way a person can earn money.
A person can earn money by doing chores.
List two things people might spend money on.
People might spend money on food and toys.
If you have $20 and want to save $8, how much money can you spend?
You can spend $12 because 20 - 8 = 12.
Explain why it is important to save some money instead of spending it all.
Saving money is important because it helps you have money for future needs or emergencies.
Create a simple budget for $30, deciding how much to spend and how much to save. Explain your choices.
Example: Spend $20 and save $10. I chose to spend more because I need some things now, but I save some to be prepared for later.
Use pictures and real objects to explain earning, spending, saving, and donating. Provide sentence starters for explaining budget choices.
Use simple language and visuals to explain key terms. Pair ELL students with peers for discussion and role-play.
Challenge students to include donating in their budget. Ask students to explain how earning money can affect spending and saving choices.
Encourage students to talk with their family about money management and practice creating a simple budget with their allowance or gift money.
Students learned about the four purposes of money: earning, spending, saving, and donating. They practiced identifying examples of each and created simple budgets to allocate money for spending and saving. This lesson builds foundational skills in managing money responsibly and making thoughtful financial decisions.
Use the exact standards alignment and retrieved-source provenance stored with this enrichment.