future. SS.4.FL.3.5 Explain that Describe the Saving Social 4 Financial when people advantages of Studies Literacy deposit money saving money in a into a bank (or savings account other financial rather than putting institution), the the money into a bank may pay piggy bank. them interest. Banks attract savings by paying interest. People also deposit money into banks because banks are safe places to keep their savings. SS.4.FL.4.1 Discuss that Explain the reason Using Credit Social 4 Financial interest is the why, when a Studies Literacy price the person borrows borrower pays $100 to buy a new for using cell phone, he or someone she will have to else’s money. pay back more than the $100 at a future date. SS.4.FL.4.2 Identify Identify goods Using Credit Social 4 Financial instances when and services Studies Literacy people use people often credit, that they purchase with the receive use of a loan. something of value now and agree to repay the lender over time, or at some date in the future, with interest. SS.4.FL.5.1 Explain that after Describe the Financial Social 4 Financial people have difference Investing Studies Literacy saved some of between saving their income, and financial
future. SS.4.FL.3.5 Explain that when people deposit money into a bank (or other financial institution), the bank may pay them interest. Banks attract savings by paying interest. People also deposit money into banks because banks are safe places to keep their savings. Describe the advantages of saving money in a savings account rather than putting the money into a piggy bank. Saving Social Studies 4 Financial Literacy SS.4.FL.4.1 Discuss that interest is the price the borrower pays for using someone else’s money. Explain the reason why, when a person borrows $100 to buy a new cell phone, he or she will have to pay back more than the $100 at a future date. Using Credit Social Studies 4 Financial Literacy SS.4.FL.4.2 Identify instances when people use credit, that they receive something of value now and agree to repay the lender over time, or at some date in the future, with interest. Identify goods and services people often purchase with the use of a loan. Using Credit Social Studies 4 Financial Literacy SS.4.FL.5.1 Explain that after people have saved some of their income, Describe the difference between saving and financial Financial Investing Social Studies 4 Financial Literacy
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