3 1 3 lets save money

5 Mom explained that Megan and Kyle had saved their money in two different ways.. Megan had saved her money in her piggy bank.. But Kyle had saved his money in a bank savings account.. M

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Scott Foresman Reading Street 3.1.3

ISBN 0-328-13329-9

ì<(sk$m)=bddcjb< +^-Ä-U-Ä-U

Suggested levels for Guided Reading, DRA,

in the Pearson Scott Foresman Leveling Guide.

Let’s Save Money!

by Sharon Franklin illustrated by Ruth Flanigan

Genre Comprehension

Skills and Strategy Text Features

Narrative

nonfi ction

• Sequence

• Author’s Purpose

• Visualize

• Charts

• Glossary

Scott Foresman Reading Street 3.1.3

ISBN 0-328-13329-9

ì<(sk$m)=bddcjb< +^-Ä-U-Ä-U

Suggested levels for Guided Reading, DRA,

in the Pearson Scott Foresman Leveling Guide.

Genre Comprehension

Skills and Strategy Text Features

Narrative

nonfi ction

• Sequence

• Author’s Purpose

• Visualize

• Charts

• Glossary

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1 Reread page 12 Use a graphic organizer

like this to explain Kyle’s allowance and what he does with it

2 What did you see in your mind as you read

page 8?

3 What do the words nickels, dimes, and

quarters have in common? Use the three

words in three complete sentences

4 Find the graphs on page 7 How much

money was there after five years? After ten years?

Reader Response

1.

2.

3.

4.

Editorial Offices: Glenview, Illinois • Parsippany, New Jersey • New York, New York Sales Offices: Needham, Massachusetts • Duluth, Georgia • Glenview, Illinois

Coppell, Texas • Ontario, California • Mesa, Arizona

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Every effort has been made to secure permission and provide appropriate credit for

photographic material The publisher deeply regrets any omission and pledges to

correct errors called to its attention in subsequent editions.

Unless otherwise acknowledged, all photographs are the property of Scott Foresman,

a division of Pearson Education.

Photo locators denoted as follows: Top (T), Center (C), Bottom (B), Left (L), Right (R),

Background (Bkgd)

Illustrations by Ruth Flanigan

ISBN: 0-328-13329-9

protected by Copyright, and permission should be obtained from the publisher

prior to any prohibited reproduction, storage in a retrieval system, or transmission

in any form by any means, electronic, mechanical, photocopying, recording, or

likewise For information regarding permission(s), write to: Permissions Department,

Scott Foresman, 1900 East Lake Avenue, Glenview, Illinois 60025.

2 3 4 5 6 7 8 9 10 V0G1 14 13 12 11 10 09 08 07 06 05

3

Megan was a saver She saved every letter her grandmother sent her She always saved the pointy end of her ice cream cone for last She had even saved a kitten from drowning!

But Megan’s friend Kyle had saved more money than she had Megan was puzzled about how he did it

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Megan and Kyle had each saved $10.00

a month for one year At the end of the

year, they compared their money Megan

had $120.00 and Kyle had more Megan

didn’t understand why She asked her mom

to help solve the puzzle

5

Mom explained that Megan and Kyle had saved their money in two different ways Megan had saved her money in her piggy bank But Kyle had saved his money

in a bank savings account Mom said that money grows in a bank savings account

Let’s find out how money can grow

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Banks earn money by lending out the money you deposit, or put into your bank

account Since the bank uses your money,

it pays you interest Your money will earn

interest for as long as you keep it in the

bank If you need to take money out of

your bank account, you will not be fined

7

Imagine putting $5,000.00 in a savings

account for college The bank pays

5 percent yearly interest After a year, there would be $5,250.00 in the account

The extra $250.00 is the interest earned

In five years the account would grow to

$6,381.41 And in ten years, there would

be $8,144.47 in your college account!

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Before you open a savings account, ask

yourself four questions: Why do I want to

save money? How much do I want to save?

When will I need the money? How much

can I save each week or month?

9

In January Megan decided she’d like

to save one hundred dollars for a family trip that June If she saved five dollars each week, she would reach her goal This time, Megan wanted to save her money

at a bank Megan and her mom went

downtown to open a savings account!

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At the bank, Megan wrote her name, address, and other information on a form

She gave the bank teller her first five-dollar

deposit The teller gave Megan a book to

record her deposits She showed Megan

the kind of statement she would receive

four times each year The statement would

show her deposits and interest

11

Then the teller told Megan about the bank savings club Members received a prize after every ten deposits Megan was excited to be a savings club member!

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Kyle receives an allowance of five dollars a week Each week he puts two

dollars into his savings account Kyle

donates one dollar to a food bank at the

grocery store for people who do not have

enough to eat Finally, Kyle keeps two

dollars to spend for himself!

13

As you can see, it is possible to save your money and still have some left over to

spend Nickels, dimes, and quarters quickly

add up to dollars And with interest earned

in a bank savings account, you may be rich

in savings sooner than you think!

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Ask an adult to help you get started on

a savings plan Remember to make a plan

that allows you to save money but gives

you some spending money too

15

Once you have your plan worked out, you can make it work Keep your goal in mind and don’t give up You’ll have fun watching your money grow!

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Glossary

college n a school

of higher learning,

where a person can

study after high

school, that gives

degrees or diplomas.

dimes n coins of the

United States and

Canada equal to ten

cents.

downtown n The

main part or business

part of a town or

city

fined v made

to pay money as

punishment for

breaking a law or

regulation.

nickels n coins of

the United States and Canada equal to five cents.

quarters n coins of

the United States and Canada equal to twenty-five cents.

rich adj having a

great deal of money, land, goods, or other property.