What credit is: borrowing money now and paying it back later, usually with extra called interest. Your child also sorts planned from unplanned spending and names money choices.
Paid back = amount borrowed + interest. If a number is missing, add to find what's paid back, or subtract to find the interest or the amount borrowed.
creditborrowing now and paying back later
interestthe extra paid for borrowing money
borrowerthe person who gets the money
lenderthe person or bank that lends it
savingsmoney put aside for later
Watch for: Writing the amount borrowed as what's paid back, and leaving out the interest. Adding when the blank is the interest or the amount borrowed: subtract instead. Calling borrowed money income: a loan has to be paid back.
At home: Lend your child 10 pennies and ask for 11 back next week. Talk about why a lender asks for extra: that extra is interest.
Sample sheet and answer key
Luna's Space Adventure
Grade 3 · Spending, credit and saving · 3.9D
NameDate
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
Planned or unplanned?
Planned spending is decided ahead of time.
At the checkout, Luna grabs a snack that was not on the list.PlannedUnplanned
Max buys a birthday gift that was in Max's budget.PlannedUnplanned
Nova's bike tire goes flat, and Nova pays to fix it.PlannedUnplanned
Credit costs extra
A borrower pays the lender back, plus interest.
Borrower
Borrowed
Interest
Pays back
Zed
$19
$28
Luna
$25
$10
Max
$5
$59
Money choices
Write income, spending, saving, credit or giving.
Luna gets a $8 loan to pay back next month.
Nova keeps $14 in a piggy bank for later.
Zed earns $16 for walking dogs.
Orion spends $23 on a movie ticket.
Plans and payments
A savings plan: the same amount put away each week.
1
Zed is saving $40 for a rainy day and puts away $5 each week. How many weeks will it take?
weeks
2
Orion planned to spend $43 on school clothes. A shoe broke, so Orion also spent $7 on shoes, which was not planned. How much did Orion spend in all?
dollars
Sheet
Luna's Space Adventure
Grade 3 · Spending, credit and saving · 3.9D
Answer key
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
Planned or unplanned?
Planned spending is decided ahead of time.
At the checkout, Luna grabs a snack that was not on the list.PlannedUnplanned
Max buys a birthday gift that was in Max's budget.PlannedUnplanned
Nova's bike tire goes flat, and Nova pays to fix it.PlannedUnplanned
Credit costs extra
A borrower pays the lender back, plus interest.
Borrower
Borrowed
Interest
Pays back
Zed
$19
$9
$28
Luna
$25
$10
$35
Max
$54
$5
$59
Money choices
Write income, spending, saving, credit or giving.
Luna gets a $8 loan to pay back next month.credit
Nova keeps $14 in a piggy bank for later.saving
Zed earns $16 for walking dogs.income
Orion spends $23 on a movie ticket.spending
Plans and payments
A savings plan: the same amount put away each week.
1
Zed is saving $40 for a rainy day and puts away $5 each week. How many weeks will it take?
40 ÷ 5 = 8
8weeks
2
Orion planned to spend $43 on school clothes. A shoe broke, so Orion also spent $7 on shoes, which was not planned. How much did Orion spend in all?
43 + 7 = 50
50dollars
Answer key
New problems every time, three levels (gentle, core and stretch), themes to pick from, a second page if you want one. Each sheet comes with an answer key and a one-page guide for grown-ups.
