Spend + save + share must add up to the whole allowance. To find a missing part, take the other two from the total. Multiply to see what builds up over several weeks.
allowancemoney a child gets each week
savingsmoney kept to use later
interestmoney a bank pays you for saving
credit uniona bank owned by the people who save there
Watch for: Parts that don't add up to the whole allowance. Multiplying the whole allowance instead of just the saved part over several weeks. Thinking a piggy bank earns interest.
At home: If your child gets pocket money, try three jars labeled spend, save and share, and decide together how much goes in each.
Sample sheet and answer key
Luna's Space Adventure
Grade 4 · Saving plans and banks · 4.10D
NameDate
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
What banks do
Banks and credit unions keep money safe, lend it and pay interest.
Banks pay interest to savers and charge interest to borrowers.TrueFalse
Only banks, not credit unions, keep people's savings.TrueFalse
Money in a piggy bank earns interest.TrueFalse
A bank lends money for free, with no interest.TrueFalse
Saving up
1
Luna gets $8 a week. Luna spends $1, shares $3 and saves the rest. How many weeks until Luna has saved $12 for a jump rope?
weeks
2
Zed puts $225 in a savings account. The bank pays $6 interest each year. How much is there after 3 years?
dollars
Jar or bank?
Jar: add $6 a month. Bank: add $5 a month, plus $2 interest.
Month
Jar
Bank
Start
$20
$20
1
$26
$27
2
3
4
More after 4 months?
How much more?
How much more after 12 months?
Sheet
Luna's Space Adventure
Grade 4 · Saving plans and banks · 4.10D
Answer key
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
What banks do
Banks and credit unions keep money safe, lend it and pay interest.
Banks pay interest to savers and charge interest to borrowers.TrueFalse
Only banks, not credit unions, keep people's savings.TrueFalse
Money in a piggy bank earns interest.TrueFalse
A bank lends money for free, with no interest.TrueFalse
Saving up
1
Luna gets $8 a week. Luna spends $1, shares $3 and saves the rest. How many weeks until Luna has saved $12 for a jump rope?
8 − 1 − 3 = 4, then 12 ÷ 4 = 3
3weeks
2
Zed puts $225 in a savings account. The bank pays $6 interest each year. How much is there after 3 years?
3 × 6 = 18, then 225 + 18 = 243
243dollars
Jar or bank?
Jar: add $6 a month. Bank: add $5 a month, plus $2 interest.
Month
Jar
Bank
Start
$20
$20
1
$26
$27
2
$32
$34
3
$38
$41
4
$44
$48
More after 4 months?Bank
How much more?$4
How much more after 12 months?$12
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.
