Ask where the money comes from and when: a debit card and a check spend your own money, a credit card borrows it, and interest is the cost of borrowing. Interest = price × the rate.
debit cardspends money from your bank account
credit cardborrows money you pay back later
checka signed paper that tells your bank to pay
interestextra paid for borrowing money
Watch for: Thinking a debit card is borrowed money. Forgetting that unpaid credit card bills cost more than the price. Working 10% of $40 as $40 ÷ 10 = $0.40 instead of $4.
At home: Look at a real receipt together and ask how it was paid. Talk through what would happen if it had gone on a credit card and wasn't paid off.
Sample sheet and answer key
Luna's Space Adventure
Grade 5 · Ways to pay · 5.10C
NameDate
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
Which way to pay?
Circle the way to pay each one describes.
Spends your money, not borrowed moneyCheckDebit cardCredit cardOnline
Amount written in numbers and wordsCheckDebit cardCredit cardOnline
Can pay the same bill every monthCheckDebit cardCredit cardOnline
Paid on time, it builds good creditCheckDebit cardCredit cardOnline
Pros and cons
Is each one true or false?
A check is the fastest way to pay.TrueFalse
A check leaves a paper record of what you paid.TrueFalse
Online payments can't be used to pay bills.TrueFalse
What credit costs
This card adds 10% interest (10¢ on every dollar) when the bill isn't paid in full.
Bought on credit
Price
Interest
Total paid
Art kit
$29.00
Headset
$59.00
Soccer ball
$17.00
Book
$10.00
Which fits best?
Circle the best way to pay for each.
Lunch, with money already in the bankCheckDebit cardCredit cardOnline
Mail pay to a neighbor, keep a recordCheckDebit cardCredit cardOnline
Grade 5 · Sheet
Luna's Space Adventure
Grade 5 · Ways to pay · 5.10C
Answer key
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
Which way to pay?
Circle the way to pay each one describes.
Spends your money, not borrowed moneyCheckDebit cardCredit cardOnline
Amount written in numbers and wordsCheckDebit cardCredit cardOnline
Can pay the same bill every monthCheckDebit cardCredit cardOnline
Paid on time, it builds good creditCheckDebit cardCredit cardOnline
Pros and cons
Is each one true or false?
A check is the fastest way to pay.TrueFalse
A check leaves a paper record of what you paid.TrueFalse
Online payments can't be used to pay bills.TrueFalse
What credit costs
This card adds 10% interest (10¢ on every dollar) when the bill isn't paid in full.
Bought on credit
Price
Interest
Total paid
Art kit
$29.00
$2.90
$31.90
Headset
$59.00
$5.90
$64.90
Soccer ball
$17.00
$1.70
$18.70
Book
$10.00
$1.00
$11.00
Which fits best?
Circle the best way to pay for each.
Lunch, with money already in the bankCheckDebit cardCredit cardOnline
Mail pay to a neighbor, keep a recordCheckDebit cardCredit cardOnline
Answer key
Something wrong with this sheet? A wrong answer, a hard-to-read picture? Report it
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.
