Money and simple budgeting

What they’re learning

Your child is learning to make simple financial decisions: total costs, compare choices, work within a budget, and explain trade-offs.

Explain it to my child

A budget is a plan for money. If you have $20, choosing one item may mean you cannot choose another. Math helps you see the trade-off before buying.

Try it together

Give a pretend budget of $25 and make a menu of household “items” with prices. Ask your child to choose 2–4 items without going over budget and calculate what remains.

Practice

1. You have $30 and spend $18.75. What remains?
2. Two items cost $6.40 and $8.35. Total?
3. Which is cheaper: three $2 items or one $7 item?
4. You save $4 each week. How much after 6 weeks?
5. A $20 budget includes $12.50 and $5.25 purchases. Is there enough for a $3 item?

Check understanding

• Can your child stay within a budget and show their calculation?
• Can they explain a trade-off rather than only finding a total?