Practice making budgets, comparing choices, and planning how to use money wisely.
Read each problem carefully. Show your thinking and explain your choices in the space provided.
Making smart plans for saving, spending, and sharing money
Financial Literacy - Grade 4-5
- 1
Mia gets $12 for helping with chores. She wants to save $5, spend $4 on a book, and donate $2. How much money will she have left after following her plan?
- 2
A budget is a plan for how to use money. Write one sentence explaining why making a budget before spending can be helpful.
- 3
Jay has $20. He needs to buy a school notebook for $4 and lunch for $6. He wants to buy a toy car for $8. If he buys all three items, how much money will he have left?
- 4
Look at this weekly budget: Income $25, snack $5, gift for friend $8, savings $7, art supplies $3. How much money is planned for spending and saving altogether, and how much is left unplanned?
- 5
Lena wants to buy a soccer ball that costs $18. She has $6 now and can save $4 each week. How many weeks will it take her to have enough money?
- 6
Sort each item as a need or a want: winter coat, video game, pencils for school, movie ticket, lunch.
- 7
Omar has $15 to spend at the school fair. Ride tickets cost $6, a snack costs $4, and a game costs $3. He also wants to save at least $2. Can he buy all three fair items and still meet his savings goal?
- 8
A class is planning how to use $40 for a small party. They budget $15 for snacks, $10 for drinks, $8 for decorations, and $5 for games. Is their budget balanced, over budget, or under budget?
- 9
Nora has $30. Plan a simple budget that includes at least $5 for savings, at least $3 for giving, and some money for spending. Your amounts must add to $30.
- 10
A bar graph shows how Ben plans to use $24: $10 for savings, $6 for games, $4 for snacks, and $4 for gifts. Which category gets the most money, and how much more is it than the gift category?
- 11
Tasha planned to spend $7 on a craft kit and save $5 from her $14 allowance. Then she found out she must pay $4 for a field trip. How can she change her budget so she does not spend more than $14?
- 12
Eli uses three jars labeled Spend, Save, and Share. He puts $6 in Spend, $5 in Save, and $2 in Share. What is the total amount of money in the jars?
- 13
Rina earns $9 each week for 4 weeks. She wants to save half of her total earnings. How much will she earn in all, and how much should she save?
- 14
A school club has $50. They must spend $20 on supplies. They want to spend $18 on posters and $15 on snacks. Are the posters and snacks both possible after buying supplies? Explain.
- 15
Create a budget for $16 of allowance. Include money for saving and money for spending. Explain why your plan is a good choice.