LESSON PLAN

Financial Literacy: Plans, Budgets, and Making Change

Apothem Team

Grade 5 · Number

LESSON AT A GLANCE

Warm-up

5 min

Explore

15 min

Consolidate

10 min

Practice

12 min

Exit ticket

3 min

Warm-up

Making change drill: purchase $48.75, pay$ 100. Change? Count up: $48.75 to$ 49.00 = 25 cents. To $50 =$ 1. To $100 =$ 50. Total: $51.25. Verify:$ 48.75 + $51.25 =$ 100.00. Quick, reliable, no subtraction required.

Explore

Budget creation: each student receives a monthly income scenario ( $80,$ 120, or $200 per month). They allocate it across 4 categories (food/supplies, entertainment, savings, giving) using percentages: 20% entertainment, 40% savings, 20% giving, 20% other. Calculate dollar amounts. Is this a balanced budget?

Consolidate

Practice

Students make change for 4 purchases from $100,$ 200, or $500 payments, create a monthly budget for a given income, and build a financial goal plan. Exit ticket: purchase$ 847.33, pay $1,000. What is the change?

Exit ticket

TIP Require students to verify change calculations by adding purchase + change = amount paid. Verification is as important in financial mathematics as in equation solving.

WORKED EXAMPLES

Purchase:

634.79. Payment:

700. Calculate change using counting up.

$634.79 to$ 635 = 21 cents. $635 to$ 700 = $65. Total change:$ 65.21. Verify: $634.79 +$ 65.21 = $700.00.

Monthly income $150. Budget: 30% savings, 40% spending, 20% giving, 10% emergency. How many dollars go to savings?

30% of $150 = 0.30 x$ 150 = $45 per month to savings.

MATERIALS

•Play money to $1,000

•Budget planning sheets

•Financial goal planning templates

•Decimal calculation practice sheets

WATCH FOR

!Students may forget to verify change calculations. Require verification every time.

!Students may allocate budget categories without checking they sum to 100% of income. Always confirm the total equals income before finalizing a budget.