Uses of Money, Spending and Saving Choices for Primary 1

Class: Primary 1
Term: Third Term
Week: 10
Age: 6 years
Duration: 45 minutes
Subject: Social and Citizenship Studies
Curriculum Theme: Digital Economy and Financial Literacy
Focal competence: Making informed choices about spending and saving
Key competencies/values: Communication; Critical Thinking
Skills:

• Using specimen of money as a means of exchange

Previous Lesson: Money, Origin, Types and Forms
Topic: Money: Uses, Spending And Saving
Subject Matter: Uses of money and simple choices about spending and saving

Specific Objectives

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

Cognitive Domain

• State uses of money.
• Distinguish a simple spending choice from a saving choice.
• List uses of money.
• Explain simple legitimate ways money is acquired.

Psychomotor Domain

• Demonstrate a simple use of money as a means of exchange.

Reference Materials

The following resources were used in planning this lesson:

• 2025 Revised 9 Years Basic Education Curriculum
• Relevant State Unified Scheme of Work
• Social and Citizenship Studies for Primary 1, Pupil’s Book
• The HeadTeacher Scheme of work

Instructional Materials

The teacher will teach this lesson with the aid of:

• Specimen money
• Real money (for demonstration)
• Relevant pictures of goods and services
• Scenario cards for spending/saving choices
• Real or model objects for a pretend shop (e.g., toy fruits, pencils, small snacks)
• Chart paper for class discussion or role-play

Rationale for the Lesson

This lesson helps Primary 1 pupils understand the fundamental role of money in their daily lives. It introduces them to practical concepts of spending and saving, enabling them to make basic financial choices. This understanding is crucial for developing early financial literacy and responsible citizenship.

Prerequisite/Previous Knowledge

Pupils are familiar with different objects in their environment and have seen adults using money to buy things.

Lesson Content/Board Summary

Money: Uses, Spending And Saving

What is Money?

Money is what we use to buy things we need and want. It can be paper notes or coins.

Uses of Money

We use money for many things, such as:

1. Buying needed goods like food, clothes, and books.
2. Paying for services like transport (okada, bus) or school fees.
3. Saving for future needs or bigger things.
4. Helping others (giving to charity).

What is Spending?

Spending means using money to buy things or pay for services right now. When you buy a biscuit with your money, you are spending.

What is Saving?

Saving means keeping money for later instead of spending it now. We save money in a piggy bank or in a bank account. We save for things we want to buy in the future, like a new toy or school bag.

Spending Choices vs. Saving Choices

Sometimes, we have to choose between spending our money now or saving it for later.

1. Spending Choice: Using money to buy a sweet today.
2. Saving Choice: Keeping the money to buy a bigger toy next week.

We should think about what we need and what we want. Needs are things we must have to live (like food and water). Wants are things we would like to have but can live without (like a new toy).

How Money is Acquired (Gotten)

People get money in simple, good ways, such as:

1. Parents working jobs.
2. Selling goods in a market.
3. Doing services for others (e.g., a tailor sewing clothes).

Teaching Methods/Instructional Techniques

Discussion, Demonstration, Role-play, Question and Answer, Explanation, Practical Activity

Instructional Procedures

Step 1: Introduction

Time: 5 minutes

Teaching Skill: Activating Prior Knowledge

Teacher’s Activity: The teacher asks pupils what they know about money and where they see their parents use it. The teacher shows real money (notes and coins) and asks pupils to identify them.

Pupils’ Activity: Pupils share their ideas and identify the money shown by the teacher.

Learning Point: Introduction to money

Step 2: Uses of Money

Time: 7 minutes

Teaching Skill: Explanation/Illustration

Teacher’s Activity: The teacher explains that money is used to buy things and pay for services. The teacher shows pictures of goods (food, clothes) and services (bus ride, school fees) and asks pupils how money is used for each.

Pupils’ Activity: Pupils identify uses of money from the pictures and give examples.

Learning Point: Money for goods/services

Step 3: Understanding Spending

Time: 5 minutes

Teaching Skill: Concept Definition

Teacher’s Activity: The teacher explains the meaning of “spending” as using money to buy something now. The teacher gives simple examples like buying a sweet or a pencil.

Pupils’ Activity: Pupils listen and give their own simple examples of spending.

Learning Point: Meaning of spending

Step 4: Understanding Saving

Time: 5 minutes

Teaching Skill: Concept Definition

Teacher’s Activity: The teacher explains the meaning of “saving” as keeping money for later. The teacher shows a piggy bank and explains why people save money (e.g., for a new toy, school bag).

Pupils’ Activity: Pupils listen and suggest reasons for saving money.

Learning Point: Meaning of saving

Step 5: Pretend Shop Activity (Demonstrating Exchange)

Time: 8 minutes

Teaching Skill: Practical Demonstration/Role-play

Teacher’s Activity: The teacher sets up a simple pretend shop with model items (e.g., toy fruits, pencils) and specimen money. The teacher demonstrates how to buy an item using money.

Pupils’ Activity: Pupils take turns acting as buyers and sellers, practicing using specimen money to buy items from the pretend shop.

Learning Point: Money as means of exchange

Step 6: Spending vs. Saving Choices

Time: 5 minutes

Teaching Skill: Guided Discussion

Teacher’s Activity: The teacher presents simple scenarios (e.g., “You have N20. Do you buy a sweet now or save it to buy a bigger toy next week?”) and guides pupils to discuss their choices, explaining the difference between spending and saving.

Pupils’ Activity: Pupils discuss the scenarios and state whether they would spend or save, explaining their reasons.

Learning Point: Spending vs. saving choices

Step 7: Evaluation/Review

Time: 5 minutes

Teaching Skill: Questioning/Assessment

Teacher’s Activity: The teacher evaluates the learning by asking the following questions:

1. Mention two things we use money for.
2. What does it mean to spend money?
3. What does it mean to save money?
4. Give an example of a spending choice.
5. Give an example of a saving choice.

Pupils’ Activity: Pupils answer orally and in writing.

Learning Point: Understanding money concepts

Step 8: Note-Taking

Time: 4 minutes

Teaching Skill: Guided Writing

Teacher’s Activity: The teacher guides pupils to copy the essential Board Summary notes on uses of money, spending, and saving into their notebooks.

Pupils’ Activity: Pupils copy the notes carefully into their notebooks.

Learning Point: Recording lesson notes

Step 9: Conclusion

Time: 1 minute

Teaching Skill: Consolidation

Teacher’s Activity: The teacher briefly reminds pupils that money is important for buying things and that it’s good to think about whether to spend or save.

Pupils’ Activity: Pupils listen and acknowledge the importance of money decisions.

Learning Point: Money decisions recap

Continuous Assessment/Further Study

Type: Homework

Instruction: Ask your parents or guardians the following questions and write down their answers in your notebook:

1. What do they use money for at home?
2. Do they save money? If yes, why?

Lesson Keywords

• Money – What we use to buy things.
• Spend – To use money to buy something now.
• Save – To keep money for later.
• Goods – Things we buy, like food or clothes.
• Services – Work done for us, like transport or teaching.

Differentiation

For weaker learners: Provide more one-on-one guidance during the pretend shop activity. Use only two items in the shop for simpler choices. Focus on identifying only one use of money.
For faster learners: Encourage them to create their own simple spending and saving scenarios. Ask them to name more ways people get money legitimately.

Suggested Lesson Videos

For further understanding, search on YouTube for: uses of money for kids primary 1 nigeria

Teacher Guide for Using This Lesson Plan

Before the lesson, gather all instructional materials, especially specimen money and items for the pretend shop. Arrange the classroom to facilitate the role-play activity. Begin by engaging pupils with questions about their experiences with money to activate prior knowledge. Clearly explain the difference between spending and saving using simple, relatable examples. The pretend shop activity is central to this lesson; ensure all pupils get a chance to participate in demonstrating money exchange. Guide discussions on spending versus saving choices, emphasizing simple needs versus wants. Allow pupils to copy the Board Summary notes after the main concepts have been taught and reviewed. Encourage pupils to discuss the homework questions with their families to reinforce learning at home.