HASS · Foundation

Active learning ideas

Financial Literacy: Earning, Saving, Spending

Active learning builds real-world connections for young students learning financial literacy. When children handle coins during role-play or sort pictures into jars, abstract ideas like earning and saving become concrete. These experiences help students see money as part of daily life, not just a concept from a screen or a parent’s wallet.

• ACARA Content Descriptions
• AC9HE7K03

• 25–40 min
• Pairs → Whole Class
• 4 activities

Activity 01

• Role Play
• 35 min · Small Groups

Role Play: Community Market Stall

Divide class into buyers and sellers. Sellers set prices for play items using laminated goods. Buyers earn play money by completing quick chores like tidying blocks, then shop with a budget. Debrief on choices made.

Identify various ways individuals can earn income.

Facilitation Tip

During the Community Market Stall, position yourself as a customer who asks questions like 'How much does this cost?' to prompt students to explain their pricing and value.

What to look for

Give each student a card with a picture of an item (e.g., an apple, a toy car, a house). Ask them to write or draw one word next to it: 'Earn', 'Save', or 'Spend'. Then, ask them to circle if it is a 'Want' or a 'Need'.

• Apply
• Analyze
• Evaluate
• Social Awareness
• Self-Awareness

Activity 02

• Outdoor Investigation Session
• 25 min · Pairs

Saving Jar Sort: Needs vs Wants

Provide picture cards of items like food, toys, clothes. Students sort into 'needs' and 'wants' jars, discuss why, then 'save' play coins in jars for a class goal like new books. Track progress on a chart.

Explain the importance of saving money and different saving strategies.

Facilitation Tip

When running the Saving Jar Sort, circulate and ask students to justify their sorting choices silently at first, then share with a partner to build reasoning skills.

What to look for

Show students pictures of different community helpers (e.g., a doctor, a builder, a teacher). Ask: 'How do these people earn money?' Then, show pictures of items (e.g., a bicycle, a loaf of bread, a piggy bank). Ask: 'If you had some money, would you spend it on this, or save it? Why?'

• Remember
• Understand
• Analyze
• Social Awareness
• Self-Awareness
• Decision-Making

Activity 03

• Outdoor Investigation Session
• 40 min · Individual

Earning Jobs Board: Classroom Coins

Create a jobs board with tasks like watering plants or stacking chairs. Students pick jobs to earn play coins, record earnings, then vote on saving for group reward or spending on stickers. Review at end.

Analyze factors that influence personal spending decisions and budgeting.

Facilitation Tip

For the Earning Jobs Board, assign roles that reflect real chores so students see how effort connects directly to classroom currency.

What to look for

During a role-play activity at a pretend shop, observe students as they 'buy' items. Ask individual students: 'How did you get this money?' (to check understanding of earning) and 'Why did you choose to buy this today?' (to check understanding of spending decisions).

• Remember
• Understand
• Analyze
• Social Awareness
• Self-Awareness
• Decision-Making

Activity 04

• Outdoor Investigation Session
• 30 min · Whole Class

Budget Story Circle: Celebration Planning

Read a story about planning a party. In circle, students allocate pretend $10 budget to food, decorations, games. Draw budgets and share decisions, noting trade-offs.

Identify various ways individuals can earn income.

Facilitation Tip

In the Budget Story Circle, keep the discussion focused on one celebration item at a time to avoid overwhelming students with too many choices.

What to look for

Give each student a card with a picture of an item (e.g., an apple, a toy car, a house). Ask them to write or draw one word next to it: 'Earn', 'Save', or 'Spend'. Then, ask them to circle if it is a 'Want' or a 'Need'.

• Remember
• Understand
• Analyze
• Social Awareness
• Self-Awareness
• Decision-Making

A few notes on teaching this unit

Start with hands-on activities before abstract discussions. Young children learn best when they move, sort, and talk about money in context. Avoid worksheets with money symbols until they can physically handle coins. Use repetition and real-life examples, like planning a small class celebration, to show how earning, saving, and spending work together. Research shows that role-play and storytelling help young learners attach meaning to financial terms and actions.

Successful learning looks like students confidently linking effort to earning, distinguishing needs from wants with examples, and explaining why saving matters. By the end, children should use everyday language to describe choices they make with money in class or at home.

---

Watch Out for These Misconceptions

• During Role Play: Community Market Stall, watch for students who believe money appears automatically at the stall without linking it to effort or labor.

  Use the stall setup to model earning by assigning students clear tasks like stocking shelves or greeting customers, then pay them classroom coins directly after completing their work.

• During Saving Jar Sort: Needs vs Wants, watch for students who believe saving means never spending money again.

  During the sorting activity, ask students to add a third jar labeled 'Spend Soon' to show that saving can be temporary for planned purchases, like a small treat after a bigger goal.

• During Earning Jobs Board: Classroom Coins, watch for students who confuse needs and wants when deciding how to spend earned coins.

  After they earn coins, have students write or draw one need and one want they could purchase, then discuss why the need might be more important.

---

Methods used in this brief

• Role Play
• Outdoor Investigation Session