---
title: "Saving Money"
description: "Why people save money; piggy banks and saving jars; setting a savings goal; keeping money for later and adding more toward a goal"
canonical: https://lightmysky.com/learn/life-skills/saving-money-mt_zrCyqhngYm
source: https://lightmysky.com/learn/life-skills/saving-money-mt_zrCyqhngYm.md
retrieved: 2026-11-12
---

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# Saving Money

Why people save money; piggy banks and saving jars; setting a savings goal; keeping money for later and adding more toward a goal

Subject: Life Skills · Area: Money & Finance · Ages 5 to 7
Page: https://lightmysky.com/learn/life-skills/saving-money-mt_zrCyqhngYm

## Ready when they can

- Explain why someone might save money instead of spending it straight away
- Describe a savings goal they could set and how they would work towards it
- Explain delayed gratification in their own words, such as waiting for something they want more instead of having a treat now

## Lesson: Saving Money for Later

Saving money means keeping some to use later. You can save for something you need or want. A money box or jar can hold your savings. Money in a jar does not grow by itself. Adding more money helps you work toward a savings goal.

*(drawing: Sam starts with no coins and adds 2 each week. Each bar shows all the coins he has saved by then.)*

**Example.** A savings goal is something you plan to save money for. At our pretend shop, all coins have the same value. Sam starts with none. His toy costs 8 coins. He saves 2 each week and spends none. His totals are 2, 4, 6, 8. He has enough after 4 weeks. If you have less than the price, keep saving.

For weekly savings, make one group of coins for each week. Count all the coins to find the total saved. To find how many weeks a goal takes, count the groups. Stop when the total reaches the price. These dots show 3 weeks of saving 2 coins.

Sometimes you choose to wait for something you want more instead of having a treat now. This is called delayed gratification. Waiting can feel hard. It can help you keep money for your goal.

Spending money leaves less to save. If you spend every coin, none are left for your goal. When you have enough, you can use your savings to buy it. Saving does not mean keeping money forever.

**Recap.** Saving keeps money for later. Pick a goal, add money when you can, and count how close you are.

*Original lesson, questions and flashcards written for this dataset.*

## Practice

8 questions on this page, each with its working shown.

## Needs first

- [What Money Is](https://lightmysky.com/learn/life-skills/what-money-is-mt_SsS7GptD_o)

## Optional connections

- [Needs & Wants](https://lightmysky.com/learn/life-skills/needs-and-wants-mt__ab4knIaSL)

## Opens up

- [Budgeting Pocket Money](https://lightmysky.com/learn/life-skills/budgeting-pocket-money-mt_Qzbh-_v0Gq)
- [Banks & Saving](https://lightmysky.com/learn/life-skills/banks-and-saving-mt_uSUqTjOl8m)