How can you squirrel away money for the future?

This image was part of the Which Clever Caption Do You Like Best competition from the Tampa Bay Times. This is a perfect image to use when talking about squirreling away money. What does "squirreling away money" mean? What are some words that come to mind when you consider saving money? 

What do squirrels, Benjamin Franklin, and Macklemore have in common? Check out our new Nearpod activity to find out!

Here are the Nearpod links:

• Preview link (view the lesson)
• Editable link (download to your Nearpod account)
• .pdf (to use as a slideshow or print pages)

Here are more activities to help you squirrel away money! Find some information about saving in the NIE supplement Focus on Finance, section on Saving (pp. 5-6). How can saving allow individuals to get more goods in the future?

What is "interest" and how does it help you buy more goods in the future? To discover more about interest rates, watch this Better Money Habits video!

Show what you know: Download the squirrel image (or another squirrel image of your choice) into an app that allows you to add a new caption, speech bubble, or slogan under the theme of squirreling away money. Create your own meme!

• Use PowerPoint to design your meme and save it as a .jpg to share.
• Use an online meme generator
• Download the free app Chatterpix (Apple and Android) to create a talking meme!

Once you have added your text to your image, share it with your friends and family. 

Extension: What is the difference between real and nominal interest rates? Nominal interest rates tell savers the dollar value of how savings will grow. Real interest rates tell savers about the purchasing power of their savings, which includes adjusting for inflation. Watch Mr. Clifford as he explains the difference!

For more on the difference between real and nominal interest rates, check out the Khan Academy videos.

Financial Literacy Standard : 
​SS.912.FL.3.3:Compare the difference between the nominal interest rate which tells savers how the dollar value of their savings or investments will grow, and the real interest rate which tells savers how the purchasing power of their savings or investments will grow. (Explain how saving can result in getting more goods and services in the future).
​SS.912.FL.3.2:Examine the ideas that inflation reduces the value of money, including savings, that the real interest rate expresses the rate of return on savings, taking into account the effect of inflation and that the real interest rate is calculated as the nominal interest rate  minus the rate of inflation.