A focused Grade 6 learning session for Personal Financial Literacy using visual models, worked examples, strategy guidance, and a short mastery check.
Student goal: I can solve problems involving personal financial literacy.
Personal Financial Literacy means choosing a model, naming what each number means, and explaining the strategy.
Question: The table below shows how Maria budgets her monthly allowance of \($80\). How much of her allowance does Maria allocate to Savings?
| Category | Percentage |
|---|---|
| Entertainment | \(25%\) |
| Savings | \(30%\) |
| Food | \(20%\) |
| Other | \(25%\) |
Why it works: \(30\%\) of \($80\) is \(0.30 \times 80 = $24\).
Answer: \($24\)
Question: The circle graph shows Ramon's monthly budget allocation (total income \($1000\)). How much does Ramon allocate to Entertainment?
Answer: \($150\)
Question: The receipt below shows items from a store with \(6\%\) sales tax. What is the sales tax on this purchase?
| Item | Price |
|---|---|
| Notebook | $5.00 |
| Pen pack | $3.50 |
| Folder | $2.00 |
| Subtotal | $10.50 |
| Tax (6%) | ? |
| Total | ? |
Answer: \($0.63\)
Question: David has assets worth \($1200\) (laptop, savings, bike). He has debts of \($300\) (money owed to parents). What is his net worth?
Why it works: Net worth = Assets \(-\) Debts \(= $1200 - $300 = $900\).
Answer: \($900\)
Personal Financial Literacy 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.
Alina earns \($400\) each month. She saves \(15\%\) of her income for college. How much does she save each month?
Answer C: \($60\)
\(15\%\) of \($400\) is \(0.15 \times 400 = $60\).
Marcus earns \($250\) per week. He wants to save \(20\%\) of his earnings. How much will he save in one week?
Answer D: \($50\)
\(20\%\) of \($250\) is \(0.20 \times 250 = $50\).
The table below shows how Maria budgets her monthly allowance of \($80\). How much of her allowance does Maria allocate to Savings?
Answer A: \($24\)
\(30\%\) of \($80\) is \(0.30 \times 80 = $24\).
Jordan receives \($120\) monthly as income. He spends \($45\) on lunch, \($30\) on entertainment, and \($20\) on transportation. How much does he have left?
Answer B: \($25\)
Total expenses: \($45 + $30 + $20 = $95\). Remaining: \($120 - $95 = $25\).
Sarah opens a savings account with \($500\) earning a simple interest rate of \(4\%\) per year. Using the formula \(I = P \times r \times t\), how much interest will she earn in \(2\) years?
Answer D: \($40\)
\(I = $500 \times 0.04 \times 2 = $40\).
Tanya earns \($600\) per month. Her fixed expenses are \($180\) for rent, \($60\) for utilities, and \($60\) for food. What percentage of her income goes to these fixed expenses?
Answer C: \(50\%\)
Total fixed expenses: \($180 + $60 + $60 = $300\). Percentage of income: \(\frac{$300}{$600} = \frac{1}{2} = 50\%\).
Keisha uses a debit card to purchase a video game for \($45\). What will happen to her bank account?
Answer B: The balance decreases by \($45\)
A debit card draws directly from her bank account, reducing the balance by the purchase amount. Credit cards defer payment (she borrows); interest is earned on savings, not debit purchases; and balances don't increase from purchases.
David has assets worth \($1200\) (laptop, savings, bike). He has debts of \($300\) (money owed to parents). What is his net worth?
Answer B: \($900\)
Net worth = Assets \(-\) Debts \(= $1200 - $300 = $900\).
Emma wants to save for a bike that costs \($200\). She saves \($25\) per month. How many months will it take her to save enough for the bike?
Answer D: \(8\) months
\(\frac{$200}{$25 \text{ per month}} = 8\) months.
The bar chart below shows monthly household expenses for the Chen family (total income: \($2400\)). How much of the family's monthly income is spent on Food?
Answer C: \($480\)
According to the bar chart, the Food category is labeled as \($480\).
A jacket originally costs \($80\). The store is offering a \(25\%\) discount. What is the sale price?
Answer B: \($60\)
Discount amount: \(25\%\) of \($80 = 0.25 \times 80 = $20\). Sale price: \($80 - $20 = $60\).
