Budget for a weekly allowance

Front

What is a weekly allowance?

Back

A weekly allowance is a set amount of money given to a child or teenager by their parents or guardians each week, which they can spend, save, or donate.

Front

How do you calculate spending money from an allowance?

Back

To calculate spending money, subtract the amounts saved and given away from the total allowance.

Front

If Lily has a weekly allowance of $13, saves $3, and gives $2 to charity, how much does she have left for spending?

Back

Lily has $8 left for spending ($13 - $3 - $2 = $8).

Front

What does it mean to save money?

Back

Saving money means setting aside a portion of your allowance or income for future use instead of spending it all right away.

Front

How can you divide money between spending and giving?

Back

You can divide money by determining how much you want to save, how much to give to charity, and then using the remaining amount for spending.

Front

What is the purpose of giving money to charity?

Back

Giving money to charity helps support causes and people in need, teaching the value of generosity and community support.

Front

If Jim saves $5 and gives $2 to charity, how much of his allowance does he spend?

Back

Jim spends $8 of his allowance ($15 total - $5 saved - $2 given = $8 spent).

Front

What is the formula to find out how much money is left after saving and giving?

Back

Total Allowance - (Savings + Giving) = Money Left for Spending.

Front

If Wendy has $8 and keeps $5 for spending, how much does she have left to divide between savings and charity?

Back

Wendy has $3 left to divide between savings and charity ($8 - $5 = $3).

Front

How do you find out how many hours to work to reach a savings goal?

Back

To find out how many hours to work, divide the total amount needed by the hourly wage.