Minds On

Saving and spending money

Create a mind map about saving money. You can use the following prompts to guide you when creating your mind map.

  • What are the ways we save money?
  • Why might we save money?

Record your ideas in your mind map or another method of your choice.

It is okay if your mind map does not have a lot at first, you can always add to your map.

Action

Exploring

Student Success

Think-Pair-Share

Let’s solve the following word problem:

The owners of a local snack bar have decided to save to buy a new sign for the snack bar. After every $10.00 worth of snacks they sold, they would put $1.00 into a jar to save towards the sign. If they saved a loonie ($1.00 dollar) towards the sign for every $10.00 dollars in snacks sold, how much money would they have saved after they sold $50.00 worth of snacks?

Answer this question by using pictures, tally sticks, money manipulatives, or the following Ten Frame to count groups of 10 to 50.

Record your answer and how you found it in an audio recording, digitally, or in your notebook.

Let’s explore a Ten Frame together to find out how much money the snack bar saved towards their sign.

Step 1: Take $10.00 to represent the snacks sold and place it in frame 1

Step 2: At the same time, take a loonie ($1.00) and place it in frame 2

Repeat these steps four more times.

How much money is in each frame? After selling $50.00 worth of snacks, how much money is in the jar?

Note to teachers: See your teacher guide for collaboration tools, ideas and suggestions.

Consolidation

Deepening your understanding

Taking action

Thinking about the snack bar in the Action section, what else could they save for? Create your own question. What is the amount you want to reach?

Here is one way you could set up your question:

For every $____ (amount of dollars) sold, they save $_____.

Reflection

How do you feel about what you have learned in this activity?  Which of the next four sentences best matches how you are feeling about your learning? Press the button that is beside this sentence.

I feel...

Now, record your ideas about your feelings using a voice recorder, speech-to-text, or writing tool.