Financial Literacy Grade 2-3

Financial Literacy: Spending and Saving: Making Choices

Practice choosing between needs, wants, saving, and spending

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Practice choosing between needs, wants, saving, and spending

Financial Literacy - Grade 2-3

Instructions: Read each problem carefully. Think about the best money choice. Show your work in the space provided.
  1. 1
    A child choosing between a school notebook and a toy ring.

    Mia has $5. She can buy a notebook for school for $3 or a toy ring for $3. The notebook is needed for class tomorrow. Which choice should Mia make first, and why?

  2. 2
    A child saving money in a jar for a soccer ball.

    Jay earns $2 each week for helping at home. He wants to save $8 for a soccer ball. How many weeks will Jay need to save if he saves all of his money each week?

  3. 3
    A winter coat, candy bar, toothbrush, video game, and lunch shown together.

    Circle the items that are needs: winter coat, candy bar, toothbrush, video game, lunch.

  4. 4
    A child with money looking at a book and stickers.

    Lena has $10. She wants a book that costs $6 and stickers that cost $4. Can she buy both items? Explain your answer.

  5. 5
    A child deciding between buying a toy car or saving for an art set.

    Aiden has $7. He can spend $5 on a toy car today, or he can save the $5 toward a $12 art set. What is one good reason to save the money instead of spending it today?

  6. 6
    Three money containers for saving, spending, and giving.

    Look at this money plan: Save $3, Spend $2, Give $1. How much money does the plan use in all?

  7. 7
    A child saving money for a jump rope.

    Sofia wants a jump rope that costs $9. She has already saved $4. How much more money does she need to save?

  8. 8
    A child buying a snack and keeping some money.

    Ben gets $6 for his birthday. He spends $2 on a snack. How much money does Ben have left?

  9. 9
    A child deciding whether to buy a puzzle or save for a bike bell.

    Nora sees a puzzle for $8. She has $8, but she is also saving for a bike bell that costs $10. If she buys the puzzle, how much money will she have left for the bike bell?

  10. 10
    Three silver coins being placed into a collection jar.

    A class is collecting coins for a field trip. Sam brings 3 quarters. Each quarter is worth 25 cents. How many cents did Sam bring?

  11. 11
    A child either saving money in a piggy bank or spending it on gum.

    Which choice shows saving? Choice A: Kim puts $4 in her piggy bank. Choice B: Kim spends $4 on gum. Explain your answer.

  12. 12
    A child splitting money into two equal piles for saving and spending.

    Eli has $12. His money plan is to save half and spend half. How much should Eli save, and how much should he spend?

  13. 13
    A child choosing between crayons and a small toy.

    Grace wants to buy crayons for $3 and a small toy for $5. She has $6. Which item can she buy now without borrowing money? Explain.

  14. 14
    A child adding coins to a savings jar over several days.

    Marcus saves $1 on Monday, $1 on Tuesday, $2 on Wednesday, and $2 on Thursday. How much did he save in all?

  15. 15
    A child choosing between needed socks and a wanted comic book.

    Tara has $9. She needs socks for $4 and wants a comic book for $6. Can she buy both? What is a smart choice?

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