Smart Cents

Pick your goal

I am saving for:  

It costs about: $ 

I can save $  each week.

My savings tracker

Each week, write how much you saved. Then add it to the week before to find your running total. Example: save $3 in week 1 (total $3), then $2 in week 2. $3 + $2 = $5 total.

How many weeks to reach my goal?

The formula: goal cost ÷ money saved each week = number of weeks.
Example: a $24 game, saving $4 a week: $24 ÷ $4 = 6 weeks.

Now yours: goal cost $  ÷ $  saved each week =   weeks.

If it does not come out even, round up to the next whole week.

What changes if you save more?

Try a goal that costs $60. Use the same formula. The first row is done for you.

What happens to the number of weeks when the weekly amount goes up?

Name one thing you could skip buying this month to reach your goal faster.

Jobs and chores I could do to earn money

Write an idea on each line, then guess what it might pay.

• 1.     $ 
• 2.     $ 
• 3.     $ 
• 4.     $ 
• 5.     $ 
• 6.     $ 

Ideas to get you started: walk a neighbor’s dog, rake leaves, wash the car, help sort recycling, water plants.

Which idea would you like to try first, and why?

What makes someone worth hiring again?

Check each one you already do. Circle one you want to work on.

• Showing up when you said you would
• Finishing the whole job, not just the easy part
• Asking questions when you are not sure
• Being polite and careful with other people’s things
• Agreeing on the price before you start

What is your time worth?

Pick one job from your list on page 5.

The job:  

How long it takes:   minutes

What I would charge: $ 

If I did it 4 times a month I would earn $  (Example: $5 × 4 = $20)

Write a short offer you could give a neighbor. Say what you will do and what it costs.

Which is the better deal?

Two stores sell the same kind of markers in different boxes.

Step 1: copy each store’s price and number of markers into the table. Step 2: find the price for one marker: price ÷ how many. Step 3: circle the store with the lower price for one.

Practice finding the price for one

Price for one = price ÷ how many. The first row is done for you.

Advertising tricks to watch for

Ads try to make us want things. Draw a line from each ad phrase to what it really means. The meanings are mixed up.

Try them on something you want right now

The thing I want:  

1. Do I need it, or do I want it?  

2. Is this a fair price?  

3. Could I wait and save for something better?  

Savings and checking do different jobs

Write the word that fits each story

1. Maya brings her $10 birthday money to the credit union and puts it in her account. She makes a  .
2. Leo takes $5 out of his account to buy a book. He will   $5.
3. Theo checks the app and sees $42 in his account. $42 is his  .
4. Nia’s savings grew from $100 to $104 without her adding any money. The extra $4 is  .
5. If June’s credit union ever closed for good, she would still get her money back because it is  .

Fill in the balance column

This is your checking account. Start with $50.00. Add every deposit, subtract every withdrawal.

Answer using your register above

1. What is the final balance? $ 
2. How much money came in during March? (Do not count the starting balance.) $ 
3. How much went out? $ 
4. Balance just before the 3/15 movie: $ . If the ticket had cost $70, how short would you be? $ 
5. What could happen if you tried to buy something that costs more than your balance?

Simple interest at 4% a year

To find 4% of an amount, multiply by 4 and then divide by 100. Example: 4% of $100 is $100 × 4 = 400, then 400 ÷ 100 = $4.

The jar versus the credit union

You put $100 away and leave it alone for one year.

Fill in five years of growth

Grandma puts $1,000 in savings for you at 4% interest. That means every year, the credit union adds 4 dollars for every 100 dollars you have. Do these three steps every year:

1. Interest = starting amount × 4 ÷ 100. The 4 is the 4% interest rate, and it stays the same every year. Round to the nearest dollar.
2. New total = starting amount + interest.
3. Copy the new total into the next year’s starting amount.

Answer in a sentence

1. Was the interest you earned in year 5 bigger or smaller than in year 1? Why?
2. Your friend gets the same $1,000 but starts 3 years after you. When you reach year 5, your friend has finished only 2 years, so they have the same as your year 2 new total. How much more do you have? Year 5 new total − year 2 new total = $ 

Bank or credit union?

Read each pair out loud. Then circle the three that describe Fort McClellan.

Because a credit union works for its members instead of investors, it can often pay a little more interest on savings and charge a little less on loans.

Who would you like to help?

A group or cause I care about:  

Why it matters to me:

A class fundraiser

Your class sells cookies for $4 each and hopes to bring in $200.

1. How many do you need to sell?  
2. If 25 students each sell the same number of cookies, how many does each one sell?  
3. If each cookie costs $1.50 to make, what is your cost for all of them? $ 
4. After paying that cost, how much is actually left to give? $ 

That last number is called profit. It is what is left after you pay what it cost you.

Six questions

1. What is your savings goal, and how many weeks until you reach it?
2. Name two ways you could earn money this month.
3. What is one advertising trick you now know to watch for?
4. What is the difference between a savings account and a checking account?
5. Why does money grow at a credit union but not in a jar at home?
6. Name one way your credit union helps the community around it.