Saving Money When You are Broke Lesson

In this lesson, students will learn eight important steps for saving money. They will learn how to save money by assessing their financial situation, creating a budget, cutting expenses, prioritizing paying off high-interest debt, building an emergency fund, looking for additional income sources, automating their savings, and staying committed and accountable to their goals.


Use this video lesson on the topic of budgeting and saving money. Learn related concepts of:

  • Assessing finances
  • Creating a budget
  • Cutting expenses
  • Prioritizing debt
  • Building an emergency fund
  • Finding income sources
  • Automating savings
  • Goal setting


8-12th grades. Middle School. High School. Adult Education.


45-60 minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.


Hand out the worksheet below (see the GET LESSON button near the bottom of the page).

Show students the video and have and have them complete the worksheet.  Review the questions on the worksheet.  A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.

How to Save Money When You are Broke

After watching the video, have students tell what the most important things they learned from the video.

Additional Resources

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Lesson Plan: Saving Money When You Are Broke


  • Students will learn the importance of budgeting and saving money, even when their income is limited.
  • Students will learn strategies for cutting expenses and paying off debt.
  • Students will learn how to build an emergency fund and look for additional income sources.
  • Students will be able to create a budget and develop a plan to save money.


  • Video: “How to Save Money When You Are Broke”
  • Whiteboard and markers
  • Handout: Budget Worksheets
  • Quiz: “Saving Money When You Are Broke” (see below).


Ask students if they have ever felt broke or struggled with money management. Introduce the video and explain that it will provide tips and strategies for saving money when you are broke. Encourage students to take notes during the video and ask questions at the end.


Play the video “How to Save Money when You Are Broke.” After the video, ask students what they learned and what strategies they found most helpful.  se the whiteboard to write down key concepts and strategies discussed in the video.

Discussion Questions:

  • Why is it important to have a budget?
  • How can you prioritize paying off debt?
  • What are some strategies for cutting expenses?
  • Why is it important to have an emergency fund?
  • How can you look for additional income sources?


Budgeting Worksheet: Provide students with a handout that includes a budgeting worksheet. Have students fill out the worksheet using their own expenses and income. Then, have them identify areas where they can cut back and allocate money towards savings and debt payments.

Group Activity: Divide students into groups and assign each group a scenario, such as a single parent with one child, a college student with a part-time job, or a recent graduate with student loan debt. Have each group create a budget and a plan to save money based on their scenario.

Personal Reflection: Have students write a personal reflection on their current financial situation and what steps they can take to improve it. Encourage them to be specific and set goals for saving and debt reduction.


Distribute the quiz “Saving Money When You Are Broke” to students. The quiz should include multiple choice answer questions based on the video and class discussions. The quiz should assess students’ understanding of key concepts and strategies for saving money when you are broke.


Review key concepts and strategies discussed in the video. Encourage students to continue to budget, save, and seek out additional income sources. Provide resources for financial education and counseling, such as the website mentioned in the video. Thank students for their participation and encourage them to apply what they have learned to their own lives.

Lesson Resources

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