Causes of Poor Savings Practice Saving – Basic 5 Social Studies Lesson Note (Second Term)

Method of teaching

Choose a suitable and appropriate method for the lessons.

Note – Irrespective of choosing methods of teaching, always introduce an activities that will arouse pupil’s interest or lead them to the lessons.

Reference materials

1. Scheme of Work
2. 9 – Years Basic Education Curriculum
3. Course Book
4. All Relevant Material
5. Online Information

Content of the lesson

Lesson 1 – introduction

Saving is money set aside for future purposes.

Everyone is expected to save money for the future.

The inability to save as expected is known as poor saving.

Causes of poor savings

There are a lot of reasons why people are unable to save money:

1. Ignorance
2. Low income
3. Inappropriate financial planning
4. Inability to manage income properly
5. High level of spending
6. Borrowing
7. Unemployment
8. Poor health
9. Physical disability
10. Lack of support
11. Having too many financial responsibilities

Lesson 2 – reasons for saving

People have different reasons for saving:

1. People save for interest, dividend or profit.
2. People save for business expansion.
3. People save for education.
4. People save for leisure time or vacation period.
5. People save for marriage, naming ceremony, etc.
6. People save for their own growth and development.
7. People save for projects such as building or buying house(s).
8. People save for their future generations.
9. People save business opportunities or investments purpose.
10. People save for emergency