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5th grade · Social Studies · Unit 9 of 10

Earning & Saving

Savings plans and a kid business

What your child practices

Making a savings plan for a goal, estimating what a youth business can earn, income, expenses and profit, incentives, career choices and why people save differently.

Arizona Academic Standards learning standard: 5.E1.1; 5.E2.1 · financial risks, and the costs and benefits of choices

How we explain it

Children can open this short lesson before they practice.

  1. Income is money you earn. Profit is income minus costs.
  2. To find earnings, multiply the price by how many times you work.
  3. To plan saving, divide the goal by how much you save each week.

Example: Sam wants a $45 game and saves $9 each week. How many weeks will it take? Divide the goal by the weekly savings. 45 ÷ 9 = 5. Answer: 5 weeks

Earning & Saving in Arizona

In the Arizona Academic Standards, this is unit 9 of 10 in 5th grade Social Studies, after Reconstruction and before Colonies to Constitution.

Gradelings describes a child's practice on this unit as Beginning, Approaching, Meeting or Exceeding (Four practice steps). That reflects practice, not a report-card mark: the teacher decides the mark.

Source: Arizona Department of Education

Sample questions

A taste of this unit. In the app, questions change every time and get easier or harder to match your child.

  1. Question 1

    Priya charges $5 to walk a dog and walks 6 dogs this month. How much does Priya earn?

    • $30
    • $11
    • $25
    • $35

  2. Question 2

    An incentive is…

    • a law against trade
    • something that encourages people to act
    • a kind of coin

  3. Question 3

    Why might two families save different amounts?

    • one family doesn't care
    • saving is not allowed
    • their incomes, needs and experiences differ

  4. Question 4

    Lena charges $11 to walk a dog and walks 5 dogs this month. How much does Lena earn?

    • $66
    • $55
    • $16
    • $44

  5. Question 5

    Ana wants to buy a $28 bike and plans to save $4 each week. How many weeks will it take?

    • 8 weeks
    • 7 weeks
    • 11 weeks
    • 4 weeks

  6. Question 6

    Noah sells lemonade for $4 a cup and sells 24 cups. Supplies cost $48. What is the profit?

    • $48
    • $49
    • $96
    • $144

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