Financial Literacy, Spending and Saving, Making Choices
Practice choosing between needs, wants, saving, and spending
Financial Literacy, Spending and Saving, Making Choices
Practice choosing between needs, wants, saving, and spending
Financial Literacy - Grade 2-3
- 1
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?
A need is something important for daily life or school. A want is something fun but not necessary.
Mia should buy the notebook first because it is something she needs for school. The toy ring is a want and can wait. - 2
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?
Jay will need to save for 4 weeks because 2 + 2 + 2 + 2 = 8. - 3
Circle the items that are needs: winter coat, candy bar, toothbrush, video game, lunch.
Think about which items help a person stay safe or healthy.
The needs are winter coat, toothbrush, and lunch. These help keep a person warm, healthy, and fed. - 4
Lena has $10. She wants a book that costs $6 and stickers that cost $4. Can she buy both items? Explain your answer.
Yes, Lena can buy both items because $6 + $4 = $10. She will have $0 left. - 5
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?
Think about what happens when you save money for something that costs more.
A good reason to save the money is that Aiden can get closer to buying the art set. Saving helps him reach a bigger goal. - 6
Look at this money plan: Save $3, Spend $2, Give $1. How much money does the plan use in all?
The plan uses $6 in all because $3 + $2 + $1 = $6. - 7
Sofia wants a jump rope that costs $9. She has already saved $4. How much more money does she need to save?
Subtract the amount she already has from the total cost.
Sofia needs to save $5 more because $9 - $4 = $5. - 8
Ben gets $6 for his birthday. He spends $2 on a snack. How much money does Ben have left?
Ben has $4 left because $6 - $2 = $4. - 9
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?
Spending all of your money means there is none left to save.
Nora will have $0 left for the bike bell if she buys the puzzle. She may choose to wait and save if the bike bell is more important to her. - 10
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?
Sam brought 75 cents because 25 + 25 + 25 = 75. - 11
Which choice shows saving? Choice A: Kim puts $4 in her piggy bank. Choice B: Kim spends $4 on gum. Explain your answer.
Saving means keeping money for the future.
Choice A shows saving because Kim keeps the money in her piggy bank to use later. - 12
Eli has $12. His money plan is to save half and spend half. How much should Eli save, and how much should he spend?
Eli should save $6 and spend $6 because half of $12 is $6. - 13
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.
Compare the prices to the amount of money Grace has.
Grace can buy the crayons because they cost $3 and she has $6. She cannot buy both items because $3 + $5 = $8, which is more than $6. - 14
Marcus saves $1 on Monday, $1 on Tuesday, $2 on Wednesday, and $2 on Thursday. How much did he save in all?
Marcus saved $6 in all because $1 + $1 + $2 + $2 = $6. - 15
Tara has $9. She needs socks for $4 and wants a comic book for $6. Can she buy both? What is a smart choice?
Add the two costs, then think about which item is a need.
Tara cannot buy both because $4 + $6 = $10, and she only has $9. A smart choice is to buy the socks first because they are a need, then save for the comic book.