Repeat after us: Itās never too early to learn how to budget. Set your grade 3-5 students up for future financial success with this āPlans and Goalsā lesson and activity sheet. Itās all part of ourĀ Adventures in Math resource center!
Whatās in the āPlans and Goalsā lesson?
This lesson is divided into six parts:
Part 1āVocabulary/Concept Development:Ā Provide your students with an allowance scenario and some choices, and have them vote on what they would personally choose to do with it.
Part 2āThink About Budgets:Ā Get students to start thinking about a budget in terms of how their school and families spend their money.
Part 3āWant or Need? Write down a list of items and have students categorize them into wants and needs.
Part 4āSpend Wisely: Learn how to tell a good deal from a bad deal.
Part 5āHands-On Activity: Using strips of colored paper, demonstrate the concept of markups and profits.
Part 6āProfit Parade Activity Sheet: Show what you know with these money math problems!
Standards
- Develop an understanding of personal financial literacy, including budgeting, spending, saving, charitable giving, and profits.
- Participate in group discussions.
- Reason abstractly and quantitatively.
- Communicate mathematical ideas, reasoning, and relationships.
- Apply mathematics to solve problems arising in everyday life.
- Solve problems using the four operations with whole numbers and fractions.
- Use place value understanding and properties of operations to perform multi-digit arithmetic.
- Solve multi-step word problems.
- Analyze information, formulate a plan or strategy, determine a solution, justify the solution, and evaluate the problem-solving process and the solution.
- Represent and interpret data.
