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Description

Short activity to teach cubs about methods of saving money

Resources

None

Instructions

Start by talking about how you can gain money, save money and give money away-
You can gain money through working or selling, but some ways of saving money also gain you money- this is called interest.

Does anyone know any ways of saving money? Spending less, but what do you do with that money youre not spending?
Putting it into a bank account- types of savings account: cash isa, high interest savings accounts
Buying premium bonds
Investment/ buying stocks
Gambling eg the lottery

Get the cubs to line up in the middle of the hall.
The left wall of the hall is low risk
The middle is medium risk
The right is high risk

Read out types of ways of gaining/saving money , the cubs go to which level of risk they think it is.

Savings accounts- low risk, but also generally not a lot of gain
Premium bonds- low risk, if your very lucky can give gains
Gambling- high risk. With things like the lottery, might not spend a lot and _could_ get lots in return, but not likely, and can be addictive which leads to losing lots of money!
Buying stocks/ shares- high risk- potential for high reward, but stocks can also decrease in value! Meaning you can easily lose money on them.

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Badge Links

• Money Skills - Cultures