Borrow vs Saving

If you wanted to buy a toy but did not have the money, what could you do?

• Borrow the money

• Steal the toy

• Save money

If you borrow something, do you give it back?

• No

• Yes

If Frankie decides to save half of her allowance, how much is she saving per week?

• $50

• $20

• $10

• $5

If she saves $10 per week, how many weeks will it take to save $500

• 5 weeks

• 50 weeks

• 5 days

• 50 days

What is the "term of the loan"?

• The period of time for her to pay the money back

• The amount of money she owes

• The definition of the word "loan"

• The interest she will owe

What would you do?

• Borrow the money

• Nothing

• Save the money

• Buy a cheaper toy

What is the difference between borrowing and saving?

• When you save, you have to pay it back

• When you borrow money, you do not have to pay it back

• When you borrow, you give the money back

  When you save, it is your own money

What is interest?

• Extra money you pay back when you borrow

• The amount of time it will take to pay back the money

• Another word for loan

• Another word for saving