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1st grade · Math · Unit 16 of 16

Spend, Save & Give

Income, spending, saving and giving

What your child practices

Personal financial literacy: your child learns that income is money earned, that people use it for goods and services and choose between wants and needs, tells spending from saving, and thinks about giving to help others.

Texas Essential Knowledge and Skills (TEKS) teks student expectation: 1.9(A); 1.9(B); 1.9(C); 1.9(D) · income, goods and services, wants and needs, spending and saving, and charitable giving

How we explain it

Children can open this short lesson before they practice.

  1. Income is money you earn by working.
  2. Spending is using money to buy things. Saving is keeping it for later.
  3. Giving is sharing money to help others.

Example: Max keeps $1 in his piggy bank for a ball. Is he spending or saving? He is keeping the money for later. Answer: saving

Spend, Save & Give in Texas

In the Texas Essential Knowledge and Skills (TEKS), this is unit 16 of 16 in 1st grade Math, after Coin Values.

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: Texas Education Agency (TEA)

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

    Giving money to help people in need is called…

    • charitable giving
    • spending
    • borrowing
    • earning

  2. Question 2

    A haircut is something someone does for you. It is a…

    • service
    • good

  3. Question 3

    Which is a good?

    • a haircut
    • a backpack
    • a music lesson
    • a car wash

  4. Question 4

    Who earns income?

    • a worker who gets paid
    • a toy
    • a pet dog
    • a baby

  5. Question 5

    You use your money to buy a snack. You are…

    • spending
    • saving

  6. Question 6

    Why do people sometimes choose between a want and a need?

    • wants are free
    • money never runs out
    • money is limited
    • needs are free

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