If they choose to spend all or some of their money, they have to decide what they want most. Explain that when people decide to save some of their money, they have two important decisions to make about where it should be saved. First, they must decide where it will be most safe. However, safety isn't the only issue. The second important consideration is putting the money in a place where the saver receives interest.
Interest is the payment someone receives for keeping money in a savings account.
They must include a spending rhyme and a saving rhyme. Students should help their parents develop a plan for saving part of the money.