Borrowing money is a normal part of personal finance for many people. Learning how to borrow responsibly and pay it back reliably will take your students far, and there are specific strategies that go into it.
You can find the materials you need to teach borrowing money, regardless of your students’ levels. Here are borrowing money lessons, worksheets, activities and games, and crucial tips for various grades. We also include narrowing money learning objectives for each grade, which are pulled straight from the National Standards for Personal Finance Education.
National Standards for Personal Finance Education
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Our free cheat sheet covers every learning objective in the National Standards for Personal Finance Education and the corresponding Kids' Money Lesson Plans - wecover each and every standard!
Pre-K
Pre-K students need to master money identification, awareness, and simple counting before they try to meet the objectives for borrowing money. They can work on their math skills and understand the general concept of lending at this level, so they are ready for the next steps. Here are some activities to get your pre-K kids prepared to learn.
For more resources on other topics, check out our Pre-K Money Lesson Plans Center.
Kindergarten
Learning Objectives
Kindergarten students work on money math and see how people differ in their financial situations. They should be able to:
- Explain the possible reasons for gifting money to others.
Kindergarten Borrowing Money Lesson Plans
- KMLP Kindergarten – Needs: In this lesson, students differentiate between needs and wants, understanding that individuals may borrow to meet requirements. They see how people differ in their finances and attitudes.
Kindergarten Borrowing Money Worksheets
Kindergarten Borrowing Money Games and Activities
- Going on a Coin Hunt
- Hungry Caterpillars
- Donut Shop Math
- Counting Money Busy Bag
- Muffin Tin Coin Counting
Tips for Teaching Borrowing Money to Kindergarten Students
- Start with showing how people borrow other resources besides money.
- Stress character qualities and how paying someone back is essential.
- Remind students that people go through ups and downs and may need to borrow at some point.
For more resources on other topics, check out our Kindergarten Money Lesson Plans Center.
1st Grade
Learning Objectives
1st-graders continue with coin identification and skip counting but also begin to see that people can overspend or owe money. They should be able to:
- Analyze how people differ in their values and attitudes about spending money.
1st Grade Borrowing Money Lesson Plans
- KMLP 1st Grade – Spending: Students learn about spending, how decisions are influenced, and why saving is essential. They read a book, watch a video, and complete an activity about needs, wants, and the purpose of borrowing.
1st Grade Borrowing Money Worksheets
- Money Word Problems
- Learn the Coins: The Nickel
- Counting by Tens: Dimes
- Money in the Bank
- Counting Coins to Get Ready for School
1st Grade Borrowing Money Games and Activities
- Jack Hartmann’s Skip Counting by 10
- Counting Money with Different Coins
- Money Unit for First Grade
- Counting Coins Sheets
- Money Activities
Tips for Teaching Borrowing Money to 1st Graders
- Continue to skip count with coins.
- Have a lending library, emphasizing the idea of borrowing.
- Set timelines on borrowed resources, so kids learn to be prompt when they borrow.
For more resources on other topics, check out our 1st Grade Money Lesson Plans Center.
2nd Grade
Learning Objectives
2nd-grade students see the many ways to save, spend, and borrow, and begin to analyze which works best for different people. They should be able to:
- Discuss the pros and cons of families/caregivers paying their children a weekly allowance.
2nd Grade Borrowing Money Lesson Plans
- KMLP 2nd Grade – Income: Students read a book about a group of students putting their money together towards a common goal. They learn about teamwork, supporting others, and putting in the effort to reach financial objectives.
2nd Grade Borrowing Money Worksheets
2nd Grade Borrowing Money Games and Activities
- Budget Worksheets
- Money Smarts Math Game
- Money Test
- Counting Money Task Cards
- Money War: A Game of Compare
Tips for Teaching Borrowing Money to 2nd Graders
- Let students work in groups often, building camaraderie and compassion.
- Show students that it’s okay to borrow and lend resources.
- Use play money and a classroom economy system.
For more resources on other topics, check out our 2nd Grade Money Lesson Plans Center.
3rd Grade
Learning Objectives
3rd-graders see that they can obtain resources even with limited resources. They should be able to:
- Explain the costs and benefits of trading goods and services between family members and friends.
3rd Grade Borrowing Money Lesson Plans
- KMLP 3rd Grade – Division of Labor: In this lesson, students see the power of collaborating with others. They see the importance of having a system such as a personal finance process they can use in the future.
3rd Grade Borrowing Money Worksheets
- Add Up the Change
- Understanding Word Problems: Money
- How Much Change?
- Shopping Problems
- Currency Values in Words
3rd Grade Borrowing Money Games and Activities
- Subtracting Money Word Problems
- Multiply Money
- Dividing Money
- Counting Money Game
- Break the Bank – Counting
Tips for Teaching Borrowing Money to 3rd Graders
- Use real money often.
- Have students keep a detailed accounting of their classroom cash.
- Show students real-life situations where people may borrow money.
For more resources on other topics, check out our 3rd Grade Money Lesson Plans Center.
4th Grade
Learning Objectives
In this grade, students take the leap from borrowing to credit, seeing the various motivations for lending. They should be able to:
- Describe the reasons why businesses and individuals sometimes lend money to others.
4th Grade Borrowing Money Lesson Plans
- KMLP 4th Grade – Credit: Students learn about credit as a form of borrowing. They watch videos, play games, and create posters to show their understanding of the various concepts.
4th Grade Borrowing Money Worksheets
- Spending and Saving Money
- Sam’s Sweet Shop
- Real Life Money Word Problems
- Money Skills
- Budget and Finding Change
4th Grade Borrowing Money Games and Activities
- Adventure Man and the Counting Quest
- Dolphin Dash
- Word Problems on Money
- Counting the Total Money
- Calculating the Difference
Tips for Teaching Borrowing Money to 4th Graders
- Give students pretend credit cards to practice.
- Teach responsibility with every lesson on borrowing.
- Stress the importance of budgeting, saving, and accounting for spending.
For more resources on other topics, check out our 4th Grade Money Lesson Plans Center.
5th Grade
Learning Objectives
5th-graders begin to see the pros and cons of borrowing and learn how to use credit wisely. They should be able to:
- Predict the possible consequences of having a lot of debt payments relative to income.
5th Grade Borrowing Money Lesson Plans
- KMLP 5th Grade – Credit and Debit: Students look at credit cards, understanding they are a way to borrow money for a purchase. They see different forms of payment and learn the risks of borrowing and using credit.
5th Grade Borrowing Money Worksheets
- My Money Habits
- Understanding a Credit Card Statement
- Loan Shark Worksheet
- Simple Interest
- 5th Grade Money Math
5th Grade Borrowing Money Games and Activities
Tips for Teaching Borrowing Money to 5th Graders
- Your students learn algebra this year: work it into money education for practice.
- Work on multiplication and long division with credit and borrowing.
- Share real-life examples of times to borrow money.
For more resources on other topics, check out our 5th Grade Money Lesson Plans Center.
6th Grade
Learning Objectives
6th-graders learn about ancient civilizations, and teachers can apply their lessons on borrowing to these topics. They should be able to:
- Justify the use of credit for a specific purchase.
6th Grade Borrowing Money Lesson Plans
- KMLP 6th Grade – Shortage: Students see the significance and need of borrowing money in times of shortage. They analyze historical events to see the benefits and drawbacks of credit.
6th Grade Borrowing Money Worksheets
6th Grade Borrowing Money Games and Activities
- Allowance and Spending Plans
- Money Responsibility
- Saving and Investing
- Class Credit Cards
- Loan Myths and Realities
Tips for Teaching Borrowing Money to 6th Graders
- Use a mix of current and historical events to show how borrowing is a part of life.
- Explain that borrowing is a necessity for many individuals.
- Remind them of the importance of emergency funds and budgets.
For more resources on other topics, check out our 6th Grade Money Lesson Plans Center.
7th Grade
Learning Objectives
7th-grade students look at scarcity and opportunity cost and how they relate to borrowing and learn how to obtain credit. They should be able to:
- Identify financial institutions and businesses that offer consumer credit.
7th Grade Borrowing Money Lesson Plans
- KMLP 7th Grade – Foundations of Economics: This lesson covers several important topics, including tradeoffs of borrowing money. They look at current events to see how these principles come into play daily and find out more about consumer credit.
7th Grade Borrowing Money Worksheets
7th Grade Borrowing Money Games and Activities
Tips for Teaching Borrowing Money to 7th Graders
- Discuss opportunity cost as it relates to borrowing.
- Have students research loan types, including auto, home, and college.
- Use realistic currency, cards, and checks to practice.
For more resources on other topics, check out our 7th Grade Money Lesson Plans Center.
8th Grade
Learning Objectives
8th-graders delve deeper into the costs and benefits of borrowing and how to regulate their creditworthiness. They should be able to:
- Discuss how a borrower’s credit history can impact their borrowing costs.
8th Grade Borrowing Money Lesson Plans
- KMLP 8th Grade – Managing Credit: Students see how credit reports and scores work in this lesson. They also learn about the many types of loans available to consumers and when people might need them.
8th Grade Borrowing Money Worksheets
- Spending Plan Shake-up
- Uncle Mort
- Understanding Ways to Pay for Education After High School
- Mapping Your Journey
- Asking for a Loan
8th Grade Borrowing Money Games and Activities
Tips for Teaching Borrowing Money to 8th Graders
- Focus on budgets and money management.
- Use real-life situations like shopping to show the significance of having enough money.
- Highlight how banks can be partners in their borrowing and saving goals.
For more resources on other topics, check out our 8th Grade Money Lesson Plans Center.
9th Grade
Learning Objectives
9th-grade students begin to look at borrowing as it applies to their lives. They should be able to:
- Compare the short-term and long-term costs and benefits of renting versus buying a home in their city of residence.
9th Grade Borrowing Money Lesson Plans
- KMLP 9th Grade – Investment: Students see that borrowing wisely can help in their overall money management. They watch a video and learn about investments, including how to fund different investment vehicles (e.g., housing).
9th Grade Borrowing Money Worksheets
- Federal Financial Aid
- Determining How Down Payments Affect Loans
- FAFSA
- Student Loan Calculator
- How Much Student Debt
9th Grade Borrowing Money Games and Activities
- Talking With Your Family About Paying for Higher Education
- Promoting Global Credit
- Calculating Loan Payments
- Describing Credit Scores
- Defining Debt Consolidation
Tips for Teaching Borrowing Money to 9th Graders
- Have students create detailed savings plans, showing them the effect of borrowing.
- Let students borrow and loan in-class items, charging interest to classmates.
- Use examples of borrowing and credit in other subjects, if possible.
For more resources on other topics, check out our 9th Grade Money Lesson Plans Center.
10th Grade
Learning Objectives
10th-grade students focus on borrowing in education and post-secondary life. They should be able to:
- Describe the different sources of funding for postsecondary education.
10th Grade Borrowing Money Lesson Plans
- KMLP 10th Grade – Personal Finance: Students learn to reflect on their saving, spending, investing, and borrowing tolerances and habits. They see how much college costs and how to use a business plan to project budgets and borrowing requirements.
10th Grade Borrowing Money Worksheets
- Analyzing a Credit Report
- Choosing a Student Loan
- Should You Use Credit?
- Renting a Place
- What’s Worth Saving For?
10th Grade Borrowing Money Games and Activities
- Saving for a Special Purpose
- Building and Retaining Good Credit
- What Car Should I Buy?
- Set A Savings Goal
- College Financial Aid Options
Tips for Teaching Borrowing Money to 10th Graders
- Dedicate class time to researching how to get into college and loan types.
- Have students present their findings about borrowing money often.
- Bring in guest speakers and financial aid advisors to talk to the class.
For more resources on other topics, check out our 10th Grade Money Lesson Plans Center.
11th Grade
Learning Objectives
11th-graders research the pros and cons of borrowing, learn how to analyze credit offerings, and decide when to use loans or credit. They should be able to:
- Describe how failing to repay a loan can negatively impact a person’s finances and life.
11th Grade Borrowing Money Lesson Plans
- KMLP 11th Grade –Loans and Credit: In this lesson, students learn all about credit and how to borrow on good terms. They distinguish between higher-quality alternative loans, calculating interest rates and the impact on the total amount owed over time.
11th Grade Borrowing Money Worksheets
- Angela Builds Her Credit
- Cruz Buys a Car
- Dirk Avoids Financial Disaster
- Financial Awareness
- Draw Your Own Savings
11th Grade Borrowing Money Games and Activities
- Balancing Fairness With Self-Interest
- Evaluating Credit Card Offers
- Budgeting for Income and Expenses
- Lights, Camera, Budget
- Shady Sam
Tips for Teaching Borrowing Money to 11th Graders
- Have students compute loan amounts over different time periods.
- Have kids research real-time data about the cost of living and borrowing in their city.
- Be genuine and honest about the dangers of debt.
For more resources on other topics, check out our 11th Grade Money Lesson Plans Center.
12th Grade
Learning Objectives
12th-graders get their plans in action, including determining how to boost their credit and maximize their borrowing. They should be able to:
- Assess the value to a potential lender of the information contained in a credit report.
12th Grade Borrowing Money Lesson Plans
- KMLP 12th Grade – Managing Credit: Students learn how to build credit, read a credit card agreement, and break down a credit card statement. They gain a solid understanding of borrowing money through videos, articles, and PowerPoints.
12th Grade Borrowing Money Worksheets
- Miya Builds Her Wealth
- Xavier Saves His Finances
- Wishful Wants or Necessary Needs?
- Bank or Bust
- The Danger of Debt
12th Grade Borrowing Money Games and Activities
Tips for Teaching Borrowing Money to 12th Graders
- Have each student create detailed, realistic plans and goals for post-secondary life.
- Students can make budgets that include monthly debt repayments as quickly as possible.
- Explain that a big part of an adult’s financial future and character is their repayment habits.
For more resources on other topics, check out our 12th Grade Money Lesson Plans Center.
More Resources
- How to Teach Loans to Students
- How to Teach Car Loans to Students
- How to Teach Home Loans to Students
- How to Teach Personal Loans to Students
