Meaning And Modes Of Savings for Primary 4

Class: Primary 4
Term: 2nd Term
subject: National Values Education
Curriculum Theme: Social Studies
Previous Lesson: Agricultural Industry And Division Of Labour
Topic: Meaning and Modes of Savings
Content/Learning Area: Meaning of savings, Modes of savings
Time Allocation: 40 minutes

Performance Objectives

By the end of the lesson, pupils should be able to:

• Cognitive Domain: Define savings and list five modes of savings.
• Affective Domain: Explain the importance of savings and demonstrate a willingness to save.
• Psychomotor Domain: Illustrate modes of savings using drawing or role-play.
• Social Domain: Discuss with peers how savings can be useful in group projects or family situations.

Reference Materials

The following resources were used in planning this lesson:

1. 9 – Years Basic Education Curriculum
2. Abuja Educational Resource Center Scheme of Work
3. NAPPS National Unified Scheme of Work
4. Online Information from: Merriam-webster – Saving Definition & Meaning
5. Relevant Textbooks

Instructional Materials

To deliver this lesson, the teacher will use the following materials:

1. Pictures or charts showing various modes of savings.
2. A piggy bank.
3. Play money or real coins/notes.
4. Whiteboard and marker.

Rationale for the Lesson

Understanding the meaning and modes of savings equips pupils with financial literacy skills and the knowledge to manage their resources wisely.

Prerequisite/Previous knowledge

Pupils have an understanding of agriculture and it’s role in generating income, which sets the foundation for discussing savings.

Lesson Content

meaning and Modes of Savings

Savings means keeping money aside for future use instead of spending it promptly. This helps in times of need or to achieve a financial goal.

Modes of Savings

Modes of savings refer to the different ways one can set aside money for future use. These include:

1. Piggy Bank: A small container used to save coins or small amounts of money.
2. Bank Account: A safe place to save money and earn interest.
3. Cooperative Society: A group of people saving money together for mutual benefit.
4. Savings App or Wallet: Digital platforms to save money securely.
5. Investments: Saving money by buying shares or bonds for future profit.
6. Esusu: A conventional rotating savings scheme common in Nigeria, where a group of people contribute a fixed amount regularly and one person receives the total sum each time.
7. Thrift Collector (Ajo): A person who collects small daily or weekly savings from individuals and businesses, returning the accumulated sum at an agreed-upon time, minus a small commission.

Teaching Methods

To deliver this lesson,‌ ⁤the teacher will⁤ adopt⁤ the following methods: Set Induction, Explanation, Discussion, Group Activity, Guided Writing, Oral Questioning, Summary.

Instructional Procedures

To deliver this lesson, the teacher will adopt the following steps:

Step 1: Introduction (Set Induction)

Time: 5 minutes
Teaching Skill: Set Induction
Teacher’s Activity: Asks pupils what they do with extra money they receive.
Pupils’ Activity: Respond and share personal experiences.

Step 2: Explanation of Savings

Time: 10 minutes
Teaching Skill: Direct instruction
Teacher’s activity: Explains savings and its benefits, shows a piggy bank.
Pupils’ Activity: Listen attentively and ask questions.

Step 3: Modes of Savings Discussion

Time: 10 minutes
Teaching Skill: Discussion
Teacher’s Activity: Discusses and lists modes of savings (e.g., piggy bank, bank account).Pupils’ Activity: Contribute ideas and identify the modes.

Step 4: Practical Saving Activity

Time: 8 minutes
Teaching Skill: Group activity
Teacher’s Activity: Provides play money and asks pupils to act out saving scenarios.
Pupils’ Activity: Actively participate in group tasks.

step 5: Note-Taking

Time: 5 minutes
Teaching Skill: Guided writing
Teacher’s Activity: Writes key points on the board for pupils to copy.
Pupils’ Activity: Copy the notes from the board.

Step 6: Evaluation/Review

Time: 2 minutes
Teaching Skill: Oral questioning
Teacher’s Activity: asks questions based on the lesson objectives.
Pupils’ Activity: Respond to questions.

Objective-aligned checks:

1. Define savings and list five modes of savings.
2. Explain the importance of savings and demonstrate a willingness to save.

Step 7: Conclusion

Time: 2 minutes
Teaching Skill: Summary
Teacher’s Activity: Summarizes the lesson and emphasizes its importance.
Pupils’ Activity: Reflect on what they learned.

Lesson Keywords

• Savings – keeping money aside for future use.
• Piggy Bank – A small container for saving coins.
• Bank Account – A safe place to save money and earn interest.
• cooperative Society – A group saving money together.
• Investment – Saving money by buying shares or bonds.

Lesson Evaluation

To evaluate the learning, the teacher asks pupils to:

1. Define savings in their own words.
2. List five modes of savings.
3. Explain why saving money is important.
4. Role-play saving money in a piggy bank.
5. Discuss how savings can definitely help in an emergency.

Assignment/Homework

1. Ask your parents or guardians about other ways to save money.
2. Start a small piggy bank and save a little money each day.
3. Draw a picture of yourself saving money for something you want.

Differentiation

• For slower learners: Provide simpler definitions and focus on basic modes like piggy banks.
• For advanced learners: Encourage research on different types of investments and their risks.
• For visual/auditory/kinesthetic learners: Use visual aids, discussions, and hands-on activities to cater to different learning styles.

Note for Teachers

Encourage pupils to think of creative ways to save and share their ideas with the class.Use practical examples to make the concept relatable. Happy teaching!