This activity is adapted from a lesson by Andrew T. Hill, Ph.D., Federal Reserve Bank of Philadelphia, written to accompany the book Uncle Jed’s Barbershop by Margaree King Mitchell (ISBN: 0-689-81913-7).
Prior knowledge is needed before playing the game. Review these concepts as needed.
Income: Payment people earn for work they do.
Saving: Keeping some income to buy things in the future.
Savings goal: A good or service that you want to buy in the future.
Spending: Using some or all of your income to buy things you want now.