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Ages 7+ · Money · Saving and budgets
Saving with a friend
Agree on a fairplanBoth put coinsin the jarCount the jartogetherBuy it together
Saving together.
The big ideaFriends can save together for something shared. Agree on a fair plan first.

How it works

Ria and Jo wanted a striped tent that cost 20 pretend coins, a lot for one child.

Alone, Ria needed 7 weeks and Jo needed 10. Together they save 5 coins a week, so it took 4 weeks.

They agreed on a fair plan first, and wrote down who puts in what.

Weeks to save 20 coins02468107Ria alone10Jo alone4Togetherweeks
Two jars filling at once get there sooner.
Coins in the jar051015205Sat 110Sat 215Sat 320Sat 4coins
The jar grows 5 coins each Saturday.

Example 1: Together each week

  1. Ria saves 3 coins and Jo saves 2.
  2. 3 + 2 = 5
  3. So the jar gets 5 coins every week.

Example 2: Count to 20

  1. Each Saturday adds 5 coins.
  2. 5 + 5 = 10
  3. 10 + 5 = 15
  4. 15 + 5 = 20
  5. The jar is full after 4 Saturdays.

Example 3: Another pair of friends

  1. Mina saves 4 coins and Lee saves 3.
  2. 4 + 3 = 7 coins a week together.
  3. In 2 weeks: 7 + 7 = 14 coins.

Example 4: Why together is sooner

  1. Ria alone needs 7 weeks.
  2. Together they need 4 weeks.
  3. 7 − 4 = 3
  4. So saving together is 3 weeks sooner than Ria alone.
Weeks to save 20 coins024687Ria alone4Togetherweeks
Alone and together.

Words to know

together
Both friends putting coins in the same jar.
fair plan
Agreed first, so both friends know who puts in what.
shared
Belongs to both friends, like the tent.

Watch out

Try it

  1. Ana saves 2 coins and Ben saves 2 coins. How many together each week?
  2. Cy saves 5 coins and Dan saves 3 coins. How many together in 2 weeks?
  3. Name one thing that makes saving together fair.
Answers: 1. 4 coins · 2. 16 coins · 3. A plan agreed first, or writing down who puts in what
Try at homeWith a grown-up, talk about something the family could save for together, and how each person helps.
For grown-upsTalk about something your family could save for together, and how each person helps. Pretend coins are enough for practice; the idea is the fair plan, agreed first and written down.
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