Financial Literacy, Budgeting, Planning How to Spend
Making smart plans for saving, spending, and sharing money
Financial Literacy, Budgeting, Planning How to Spend
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?
Add the planned amounts first, then subtract from the total money.
Mia will have $1 left. She planned to use $5 + $4 + $2 = $11, and $12 - $11 = $1. - 2
A budget is a plan for how to use money. Write one sentence explaining why making a budget before spending can be helpful.
Making a budget is helpful because it lets you plan for needs, wants, and savings before the money is gone. - 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?
Needs and wants can both be in a budget, but you still need to check the total cost.
Jay will have $2 left. The items cost $4 + $6 + $8 = $18, and $20 - $18 = $2. - 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?
The planned amount is $23 because $5 + $8 + $7 + $3 = $23. There is $2 left unplanned because $25 - $23 = $2. - 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?
Find how much more money she needs before counting weeks.
It will take Lena 3 weeks to have enough money. She needs $12 more, and saving $4 each week for 3 weeks gives her $12. - 6
Sort each item as a need or a want: winter coat, video game, pencils for school, movie ticket, lunch.
Winter coat, pencils for school, and lunch are needs. A video game and a movie ticket are wants because they are enjoyable but not necessary. - 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?
Check whether the leftover amount is at least $2.
Yes, Omar can buy all three items and still save $2. The three items cost $6 + $4 + $3 = $13, and $15 - $13 = $2. - 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?
Their budget is under budget. The planned costs are $15 + $10 + $8 + $5 = $38, so they have $2 left. - 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.
There is more than one correct budget as long as the amounts follow the rules and total $30.
One possible budget is $10 for savings, $5 for giving, and $15 for spending. These amounts add to $30 and meet the savings and giving rules. - 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?
Savings gets the most money. It is $6 more than gifts because $10 - $4 = $6. - 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?
The field trip is a need, so another category may need to be smaller.
One possible change is for Tasha to buy the craft kit for $7, pay $4 for the field trip, and save $3. The total is $14, so she does not spend more than she has. - 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?
The total amount in the jars is $13. The sum is $6 + $5 + $2 = $13. - 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?
First multiply to find her total earnings for 4 weeks.
Rina will earn $36 in all because $9 x 4 = $36. She should save $18 because half of $36 is $18. - 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.
Add all the costs and compare the total to $50.
No, the posters and snacks are not both possible after buying supplies. Supplies, posters, and snacks would cost $20 + $18 + $15 = $53, which is $3 more than the club has. - 15
Create a budget for $16 of allowance. Include money for saving and money for spending. Explain why your plan is a good choice.
One possible budget is $6 for saving and $10 for spending. This is a good choice because it lets the student enjoy some money now while still saving for the future.