Social Studies Grade 2

Week 27 of 32 • Page 3

Donating

Donating is giving part of what you have to others. Donations can be money, resources, or time. Many people donate resources such as food and clothing. People donate extra food to a food bank for those who need it. Others donate money to people and organizations that solve community problems. You can also donate your time by serving others. When you volunteer to clean a park, you are donating time.

Highlight three ways someone can donate.

Banks, Credit Unions, and Credit Cards Many people save their money in a bank or credit union. You can set up a checking or savings account, where you can store your money. Banks can also help you invest your money. People can ask for a loan from a bank. A loan is money a bank gives to someone so they can pay for something expensive. When someone takes a loan, they agree to pay the money back to the bank. They also pay interest on the loan. Interest is extra money we pay back over time in order to use money now. Many banks and other companies give people credit cards. Credit cards are small pieces of plastic. They let you buy something now and pay for it later. People who have credit cards agree to pay the money back each month. They also pay interest if they don’t pay the full amount they owe every month.

Made with FlippingBook Annual report