A focused Grade 6 learning session for Financial Literacy — Budgeting and Saving using visual models, worked examples, strategy guidance, and a short mastery check.
Student goal: I can solve problems involving financial literacy - budgeting and saving.
Financial Literacy — Budgeting and Saving means choosing a model, naming what each number means, and explaining the strategy.
Question: Tyrone earns \($80\) per week. His budget allocates \(20\%\) for food, \(15\%\) for entertainment, and \(10\%\) for savings. How much does he spend on food?
Why it works: Food budget is \(20\%\) of \($80\): \(0.20 \times 80 = $16\).
Answer: \($16\)
Question: A family's monthly expenses are: Rent \($800\), Utilities \($150\), Food \($400\), and Transportation \($250\). What is their total monthly expense?
| Expense | Amount ($) |
|---|---|
| Rent | 800 |
| Food | 400 |
| Transportation | 250 |
| Utilities | 150 |
| Total | ? |
Answer: \($1600\)
Question: Elena's income is \($400\) per month. After saving \(35\%\), how much does she have available for spending and expenses?
Answer: \($260\)
Question: A student saves \($15\) out of every \($100\) earned. What percentage of earnings does the student save?
Why it works: The ratio is \(\frac{15}{100} = 0.15 = 15\%\).
Answer: \(15\%\)
Financial Literacy — Budgeting and Saving becomes easier when students connect the question to a model, use clear steps, and explain why the answer fits.
Understand the model before choosing the operation.
Use scratch paper. The explanation matters more than simply seeing whether the choice is correct.
Marcus earns \($250\) per week mowing lawns. He budgets \(40\%\) for expenses, \(25\%\) for savings, and the rest for spending. How much does he save each week?
Answer C: \($62.50\) (25% saved)
Savings are \(25\%\) of \($250\): \(0.25 \times 250 = $62.50\).
Sophia receives \($120\) allowance per month. She spends \(30\%\) on music lessons. How much does she spend on music lessons?
Answer A: \($36\) (30% correct)
Calculate \(30\%\) of \($120\): \(0.30 \times 120 = $36\).
A student saves \($15\) out of every \($100\) earned. What percentage of earnings does the student save?
Answer B: \(15\%\)
The ratio is \(\frac{15}{100} = 0.15 = 15\%\).
Tyrone earns \($80\) per week. His budget allocates \(20\%\) for food, \(15\%\) for entertainment, and \(10\%\) for savings. How much does he spend on food?
Answer A: \($16\)
Food budget is \(20\%\) of \($80\): \(0.20 \times 80 = $16\).
Aisha's monthly budget is shown in the pie chart above. If her monthly income is \($2000\), how much does she allocate to rent?
Answer C: \($600\)
Rent is \(30\%\) of income: \(0.30 \times 2000 = $600\).
From the pie chart above, how much does Aisha allocate to food and utilities combined?
Answer D: \($900\)
Food and utilities: \(25\% + 20\% = 45\%\) of \($2000 = 0.45 \times 2000 = $900\).
A family's monthly expenses are: Rent \($800\), Utilities \($150\), Food \($400\), and Transportation \($250\). What is their total monthly expense?
Answer C: \($1600\)
Sum all expenses: \(800 + 150 + 400 + 250 = $1600\).
A teen earns \($300\) per month. If their total expenses are \($180\), what is the surplus (amount left over) as a percent of income?
Answer A: \(40\%\)
Surplus is \($300 - $180 = $120\). As percent: \($120 \div $300 = 0.40 = 40\%\).
A family budgets \($1500\) per month but has actual expenses of \($1700\). What is the shortfall (amount over budget)?
Answer B: \($200\)
Shortfall is Expenses minus Budgeted Amount: \($1700 - $1500 = $200\).
Marcus saves \($50\) per month. At this rate, how much will he save in one year?
Answer C: \($600\)
One year has 12 months: \($50 \times 12 = $600\).
A student saves \($25\) every two weeks. How much will she save in 8 weeks?
Answer C: \($100\)
In 8 weeks, there are \(8 \div 2 = 4\) two-week periods. Total saved: \($25 \times 4 = $100\).
