Grade 5 · Financial Literacy · Transactions and Budgets
Plan a Balanced Budget
A budget is a plan for money. It helps someone compare earnings with expenses and save toward a goal.
The big idea
Every budget choice affects what remains
If a club earns $120, spends $68.50 on supplies, and saves $20, it has $31.50 left for other expenses.
Work it through
Check the club budget
- 1. List total earnings: $120.00.
- 2. Add planned expenses and savings: $68.50 + $20.00 = $88.50.
- 3. Subtract: $120.00 − $88.50 = $31.50.
- 4. Adjust the plan if spending would exceed earnings.