Creating a savings first aid kit

Updated Jun 02, 2022

Students learn the importance of developing an emergency savings fund to deal with unexpected challenges and unplanned expenses.

Big idea

Planning ahead for unexpected events makes it easier to face financial challenges.

Essential questions

How can I prepare myself financially for unexpected events?
How can I start to build an emergency savings fund?

Objectives

Determine what a financial emergency looks and feels like
Make an action plan to save money for an emergency fund

What students will do

Use the “Creating a savings first aid kit” worksheet to figure out what a financial emergency looks and feels like.
Create a plan for building an emergency savings fund.

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Teacher guide

cfpb_building_block_activities_creating-savings-first-aid-kit_guide.pdf

cfpb_building_block_activities_como-crear-un-kit-de-ahorro_guia.pdf

Student materials

cfpb_building_block_activities_creating-savings-first-aid-kit_worksheet.pdf

cfpb_building_block_activities_como-crear-un-kit-de-ahorro_tabla.pdf

Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.

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Key information for this activity

Building block

(What are the building blocks?)

Executive function
Financial habits and norms

Topic

Save and invest (Banking options, Building emergency savings, Choosing how to save, Saving for long-term goals, Saving for short-term goals)

School subject

CTE (Career and technical education), Math, Social studies or history

Audience

Grade level: High school (9-10), High school (11-12)

Age range: 13-15, 16-19

Student characteristics: English language learners, Special education, Low income, Rural, Urban

Activity characteristics

Activity type: Small group, Whole class, Available in Spanish

Teaching strategy: Personalized instruction, Project-based learning

Bloom’s Taxonomy level: Apply, Analyze

Activity duration: 45-60 minutes

National standards

(What are the national standards? )

Standards: II. Spending, III. Saving

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