  # Money Matters: Adding and Subtracting

Contributor: Erika Wargo. Lesson ID: 12094

Whenever you buy something, do you think it would be smart to hand over all your money and hope for the best? Of course not! You must learn to add and subtract money amounts so you can spend wisely!

categories

## Integers/Rational Numbers and Operations, Measurement and Data

subject
Math
learning style
Visual
personality style
Lion, Otter
Primary (K-2), Intermediate (3-5)
Lesson Type
Skill Sharpener

## Lesson Plan - Get It! • What would you do if you found a bag of money and could keep it?
• What would you buy with it?

Before you can spend your bag of money, you need to know how much you have to spend!

As you spend it, you will have to keep track of what you are spending. In order to do this, you need to know how to identify money and perform operations such as adding and subtracting dollars and cents.

Let’s review coins with "Coins!" by ABCmouse.com: Now, let’s practice. Great job!

Now, review how to add and subtract decimals with Adding and Subtracting Decimals from tot.australis: Adding and subtracting money is a skill you will use a lot in life.

• Can you think of a time when you would need to know how to add money?
• When would you need to subtract money?

Adding money is important so you can figure out your total bill at a store or restaurant, how much money you have saved in your coin bank, or how much you owe someone.

Adding money is similar to adding whole numbers, except you also have to pay attention to the decimal point. You need to add the cents together first — the numbers after the decimal point — then add the dollars.

Don’t forget your decimal and dollar sign!

Let’s practice

 \$ 0 . 8 5 + \$ 2 . 5 0

In order to do this, you need to add the two money amounts together.

Notice how the digits are lined up and the decimal points are lined up. Bring the decimal point and the dollar sign straight down.

Follow the steps for adding decimal numbers, including regrouping! Sometimes, it is helpful to use grid paper to help you keep the digits and decimal points lined up.

1. Line up the decimal points and digits.
2. Start adding in the column to the right. Move towards the left, and carry numbers and regroup when needed.
 1 \$ 0 . 8 5 + \$ 2 . 5 0 \$ 3 . 3 5

Subtracting money

Subtracting money is similar to adding money — you will follow the same steps, except you subtract the numbers.

When subtracting money, you subtract the cents first, then the dollars, moving right to left. Don’t forget that sometimes you will need to borrow!

Let’s practice:

 \$ 7 . 5 0 - \$ 4 . 2 5