Add/Subtract with Money

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With our Add/Subtract with Money lesson plan, students learn how to recognize the value of money and how to add and subtract with it.

Included with this lesson are some adjustments or additions that you can make if you’d like, found in the “Options for Lesson” section of the Classroom Procedure page. One of the optional additions to this lesson is to cut out items from magazines that have prices listed and have students spend play money at the “store” that carries those items, recording what items they would purchase and how much change they should receive.

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Description

What our Add/Subtract with Money lesson plan includes

Lesson Objectives and Overview: Add/Subtract with Money teaches students about money, including the value of each bill and coin in US currency, and how to add and subtract with it. At the end of the lesson, students will be able to convert money to a decimal form and add and subtract the decimal amounts. This lesson is for students in 2nd grade and 3rd grade.

Classroom Procedure

Every lesson plan provides you with a classroom procedure page that outlines a step-by-step guide to follow. You do not have to follow the guide exactly. The guide helps you organize the lesson and details when to hand out worksheets. It also lists information in the blue box that you might find useful. You will find the lesson objectives, state standards, and number of class sessions the lesson should take to complete in this area. In addition, it describes the supplies you will need as well as what and how you need to prepare beforehand. For this lesson, you will not need any special supplies. To prepare for this lesson ahead of time, you can copy the handouts.

Options for Lesson

Included with this lesson is an “Options for Lesson” section that lists a number of suggestions for activities to add to the lesson or substitutions for the ones already in the lesson. One optional addition to this lesson is to cut out items from magazines that have prices listed and have students spend play money at the “store” that carries those items, recording what items they would purchase and how much change they should receive. You can also have students earn play money throughout the school day to spend at the store during the lesson. Another idea to extend the lesson is to teach students how to use a cash register to practice adding and subtracting money. Finally, you could have your students use the internet to find items that they’d want to buy with a specific budget.

Teacher Notes

The teacher notes page includes lines that you can use to add your own notes as you’re preparing for this lesson.

ADD/SUBTRACT WITH MONEY LESSON PLAN CONTENT PAGES

Money Vocabulary

The Add/Subtract with Money lesson plan includes two pages of content. This lesson begins with an overview of money vocabulary. It includes a chart that lists the name of the coin or dollar, a picture, and the decimal amount. This is important information for students because they must know the value of different amounts of money in order to add or subtract. This chart includes pennies, nickels, dimes, quarters, half dollars, dollars, five dollars, and ten dollars.

Adding and Subtracting Money

The next section of this lesson teaches students how to add and subtract money. First, you must write the amount of money as a decimal. You write the number of dollars as a whole number to the left of the decimal point and the cents to the right of the decimal point. The lesson gives an example of a five dollar bill, a quarter, and a dime being written as $5.35. Next, you must line up the decimal points, like you do any time you add or subtract. That’s it! The lesson also includes several examples of what addition and subtraction problems using money look like.

ADD/SUBTRACT WITH MONEY LESSON PLAN WORKSHEETS

The Add/Subtract with Money lesson plan includes four worksheets: an activity worksheet, a practice worksheet, and a homework assignment. You can refer to the guide on the classroom procedure page to determine when to hand out each worksheet.

ITEM PRICES ACTIVITY WORKSHEET

The activity worksheet provides students with the prices for various items like a football, a pair of headphones, and a tennis racquet. Students must use this information to answer questions about how much it would cost to buy various items or how much change they will get back if they buy a specific item with a certain amount of money. This will allow students to practice adding and subtracting money using real-world scenarios.

HOW MUCH MONEY PRACTICE WORKSHEET

For the practice worksheet, students will look at pictures of bills and coins and determine how much money is shown in each picture. Next, they will add or subtract different amounts of money and solve a money word problem.

MENU PRICES HOMEWORK ASSIGNMENT

The homework assignment asks students to find a local restaurant menu and create a meal for both themselves and a friend. For each category (appetizer, entree, dessert, and drink) they will write down the item and cost both themselves and their friend. They will then calculate the total cost for each category and for the meal as a whole. Finally, they will determine how much change they would get back if they paid for their meal with a $50 bill.

ADD/SUBTRACT WITH MONEY QUIZ

This lesson plan includes a quiz that you can use to gauge your student’s understanding of the lesson material. Students will first look at pictures of bills and coins and determine how much money is shown in each picture. Next, they will add or subtract different amounts of money and solve a money word problem.

Worksheet Answer Keys

This lesson plan includes answer keys for the activity worksheet, the practice worksheet, and the quiz. It does not include an answer key for the homework assignment as students’ answers will vary. If you choose to administer the lesson pages to your students via PDF, you will need to save a new file that omits these pages. Otherwise, you can simply print out the applicable pages and keep these as reference for yourself when grading assignments.

Additional information

grade-level

2nd Grade, 3rd Grade

subject

Math, Video

State Educational Standards

LB.Math.Content.2.MD.C.8

Lessons are aligned to meet the education objectives and goals of most states. For more information on your state objectives, contact your local Board of Education or Department of Education in your state.

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