Financial planning and decisions

What they’re learning

Your child is making increasingly realistic financial decisions involving budgets, saving goals, price comparisons, and the difference between needs and wants.

Explain it to my child

A financial plan is deciding what money is for before spending it. A goal can change today’s choice: spending $10 now may mean waiting longer for something important later.

Try it together

Pick a pretend saving goal of $60. Compare saving $5, $10, or $15 per week. Then introduce a small weekly expense and see how it changes the timeline.

Practice

1. Save $8/week for 6 weeks: total?
2. A $45 item is discounted by $5. New price?
3. Budget $75; spend $28.50 and $19.25. Amount left?
4. Which reaches $100 faster: $10/week or $15/week?
5. You want $80 and have $32. How much more is needed?

Check understanding

• Can your child compare options using numbers and explain the trade-off?
• Can they work backward from a savings goal?