Saving – Basic 4 Social Studies Lesson Note (Second Term)

What is Saving?

Saving means keeping part of your money or things for later use instead of spending everything now. It’s like storing food for tomorrow!

Why Do We Save? 🎯

1. For Future Needs 📅

• School fees next term
• New uniform when you outgrow the old one
• Birthday presents for friends

2. For Emergencies 🚨

• When sick and need medicine
• If something breaks
• Unexpected problems

3. To Buy Big Things 🎁

• New bicycle
• Computer/tablet
• Special shoes

4. To Help Others 🤝

• Help family members
• Give to charity
• Support friends in need

Ways Children Can Save

1. Piggy Bank (Kolo) 🐷

• Put coins daily
• Don’t break until full
• Count your progress

2. School Savings 🏫

• Save with your school
• Teacher keeps it safe
• Get it at term end

3. With Parents 👨‍👩‍👧

• Give money to parents to keep
• They help you save
• Learn from them

4. Bank Account 🏦

• Children’s savings account
• Very safe
• Earns small interest

How to Save Successfully

Do’s ✅

• Save small amounts regularly
• Save before spending
• Have a savings goal
• Be patient
• Keep your savings safe

Don’ts ❌

• Don’t spend all your money
• Don’t break your kolo too early
• Don’t borrow from savings
• Don’t show off your savings

Simple Saving Tips

• If you get ₦100, save ₦20
• Save your change
• Save gift money
• Avoid buying unnecessary things
• Think before you spend!

Example: Mary’s Savings Plan

• Gets ₦50 daily for lunch
• Spends ₦30 on food
• Saves ₦20 in her kolo
• After 50 days = ₦1,000 saved!
• Buys new school bag! 🎒

Remember!

“Little drops of water make a mighty ocean” – Small savings become big money!

EXERCISES

A. Fill in the blanks:

1. _______ means keeping money for later use.
2. We save for emergencies and _______ needs.
3. A _______ bank is also called kolo.
4. Children can open _______ accounts in banks.
5. Save _______ spending your money.

B. True or False:

1. We should spend all our money. _______
2. Saving helps during emergencies. _______
3. Only adults can save money. _______
4. Small savings can become big. _______
5. Piggy banks are not safe. _______

C. Match:

D. Circle good saving habits:

• Spending all pocket money
• Saving lunch money change
• Breaking kolo every day
• Having a savings goal
• Hiding money under bed
• Saving in bank account
• Buying sweets daily
• Saving gift money

E. Calculate:

If you save ₦10 every day:

• After 7 days = ₦_____
• After 30 days = ₦_____
• After 100 days = ₦_____

F. Short answers:

1. Where do you keep your savings?
2. What are you saving for?
3. Name two benefits of saving.

G. Complete the savings plan:

I get ₦_____ daily I spend ₦_____ on _____ I save ₦_____ in my _____ My goal is to buy _____

1. Think and Write:

What advice would you give a friend who spends all their money?