# Don’t Miss This Great Intro to Budgets for Grades 3-5!

Financial planning for kids? You bet.

Repeat after us: It’s never too early to learn how to budget. Set your grade 3-5 students up for future financial success with this “Plans and Goals” lesson and activity sheet. It’s all part of our Adventures in Math resource center!

## What’s in the “Plans and Goals” lesson?

This lesson is divided into six parts:

Part 1—Vocabulary/Concept Development: 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 2—Think About Budgets: Get students to start thinking about a budget in terms of how their school and families spend their money.

Part 3—Want or Need? Write down a list of items and have students categorize them into wants and needs.

Part 4—Spend Wisely: Learn how to tell a good deal from a bad deal.

Part 5—Hands-On Activity: Using strips of colored paper, demonstrate the concept of markups and profits.

Part 6—Profit 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.