Personal Finance Literacy

Marty’s parents give him $10 each week for his chores.

He saves $5 every week out of that money?How much total money he will have saved after 4 weeks?

• 19

• 40

• 20

Tags

CCSS.3.OA.A.3

Which situation describes a bank deposit?

• Belinda needs to pay her rent. She goes to the bank and gets some money.

• Marlene’s mom stops at an ATM machine. She uses her ATM bank card to get some money.

• Oscar has $55. He does not want to lose the money, so he goes to the bank to open a savings account.

In March, Viola’s savings account had a balance of $243. In April, her balance was $263. Which statement could explain what happened to Viola's savings account during these two months?

• She withdrew $20.

• She deposited $20.

• She spent $20.

Tags

CCSS.2.NBT.B.7

Barbara went to the bank to get $20 out of her account to take with her on vacation.

Which statement is true?

• Barbara withdrew $20 from her bank account.

• Barbara spent $20 at the bank.

• Barbara deposited $20 into her bank account.

Tags

CCSS.7.NS.A.1C

Pamela wants to buy a sticker book that costs $32. She saves $5 a week. Which statement about Pamela's savings is true?

• She will have enough money to buy the book if she saves 7 weeks.

• She will have enough money to buy the book if she saves for 6weeks.

• She will have enough money to buy the book if she saves for 5 weeks.

Tags

CCSS.3.OA.D.8

Which situation is an example of borrowing?

• Aunt Celia gives Anthony an envelope with money for his birthday.

• David and Julian put their money together to buy a bicycle they will share.

• Loretta asks her sister for money to buy a magazine and says she will pay her back later.

Gabriel had saved $45. He wants to buy a pair of shoes that cost $50. He asked his father to lend him the rest of the money so he can buy the shoes today. He promised to pay his father back when he gets his $10 allowance at the end of the week. Which statement best describes this situation?

• This is responsible borrowing because Gabriel really wants the shoes.

• This is responsible borrowing because Gabriel will be able to pay his father back and still have some of his allowance left over.

• This is irresponsible borrowing because Gabriel lied to his father about the price of the shoes.

Tags

CCSS.RL.1.3

CCSS.RL.4.3

CCSS.RL.5.3

CCSS.RL.2.1

CCSS.RL.K.3

Which situation is an example of lending?

• Danielle takes a $10 bill from her savings box and puts it in a birthday card for his brother Thomas.

• Victor is selling shirts for his team. His customer will pay him when he gives them the shirts.

• Letty will use her money to help Mariah pay for a necklace if Mariah pays her back later.

Randy needs $25 to have enough money to buy a bicycle.

He asks his brother Jim to lend him the $25 from his savings. Randy promises to pay Jim back at the end of the month. Which statement might be a benefit for Jim if he lends the money to Randy? Which statement might be a benefit for Jim if he lends the money to Randy?

• Randy might not have the money to pay Jim back at the end of the month.

• Randy may let Jim ride his bike to show his thanks for letting him borrow the money.

• Jim will not have the money to spend until Randy pays him back.

Tags

CCSS.RL.1.3

CCSS.RL.4.3

CCSS.RL.5.3

CCSS.RL.2.3

CCSS.RL.3.3

Sarah is saving money to make a cake for her Mom's birthday. The list below shows the cost of items Sarah needs to make the cake.

- Cake mix: $4 per box

- Frosting: $3 per can

- Candles: $1 per box

Sarah will need one box of cake mix, two cans of frosting, and one box of candles. What is the total cost of the cake Sarah will make?

• $8

• $16

• $11

Tags

CCSS.3.OA.D.8