Music Connection:
Use this song to reinforce the concepts of Consumers and Trade and Money. Have the students do the clapping on the spelling of M-O-N-E-Y, just as is usually done with the song, Bingo. Explain that consumers who borrow must repay a loan at a later date, (but not literally "tomorrow" as the song states.

Borrowing Money
(Tune: Bingo)

Verse 1:
Consumers want to buy some things.
And sometimes they will borrow.
M-O-N-E-Y,
M-O-N-E-Y,
M-O-N-E-Y,
And money's what they borrow.

Verse 2:
They buy the things they want today,
But pay for them tomorrow.
M-O-N-E-Y,
M-O-N-E-Y,
M-O-N-E-Y,
Is what they pay tomorrow.

 

(By Martha Hopkins & Donna Wright) Used with permission. From Financial Fitness for Life: Pocket Power, K-2

Copyright © 2001, National Council on Economic Education, 1/2009 Name changed to Council for Economic Education (CEE), New York, NY. All rights reserved.

(From KidsEcon Posters©: www.kidseconposters.com)