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1st grade · Social Studies · Unit 10 of 13

Earning, Saving & Sharing

How families earn, choose, save and trade.

What your child practices

Practices how people earn income, why families save, sharing and bartering, choosing between needs and wants, and natural, human and capital resources.

New York State Learning Standards learning standard: 1.10c; 1.10d · working to earn money, and choosing to spend, save or share it

How we explain it

Children can open this short lesson before they practice.

  1. People earn money by working.
  2. A consumer buys things. Saving is keeping money for later.
  3. We make choices when we can't have everything.

Example: Lena puts money in her piggy bank. She is… She does not spend it now. Keeping money for later is saving. Answer: saving

Earning, Saving & Sharing in New York

In the New York State Learning Standards, this is unit 10 of 13 in 1st grade Social Studies, after Goods and Services and before American Symbols & Heroes.

Gradelings describes a child's practice on this unit as Beginning, Approaching, Meeting or Exceeding (Four practice steps). That reflects practice, not a report-card mark: the teacher decides the mark.

Source: New York State Education Department (NYSED)

Sample questions

A taste of this unit. In the app, questions change every time and get easier or harder to match your child.

  1. Question 1

    Ana uses all her money on candy. Later she needs crayons. What happened?

    • she had no money left
    • the candy became crayons
    • she got free crayons

  2. Question 2

    Which one is a natural resource?

    • a hammer
    • a teacher
    • water

  3. Question 3

    Why might a family save money?

    • for something they need later
    • to forget it
    • to throw it away

  4. Question 4

    Zoe trades her apple for Noah's orange. That is…

    • voting
    • bartering
    • saving

  5. Question 5

    Which one is a want?

    • a new skateboard
    • clean water
    • food

  6. Question 6

    Why do people put money in a bank?

    • to feed it
    • to keep it safe and save
    • to make it disappear

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