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

Elementary

subject
Math
learning style
Visual
personality style
Lion, Otter
Grade Level
Intermediate (3-5)
Lesson Type
Skill Sharpener

Lesson Plan - Get It!

Audio:

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! Let’s watch a video to review how to add and subtract decimals with mathcrush.com's Decimals - Adding and Subtracting.

Discuss with an adult or teacher what important steps to remember when adding and subtracting decimals.

Now you are ready to add and subtract money. 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? Discuss this with your parent or teacher.

Adding 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! Use your play money to help you count the amounts.

Let’s practice

$0.85
+ $2.50

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.

Follow these steps:

  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.
  3. Bring the decimal point down and put the dollar sign in front of your answer.

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: $7.50 - $4.25 =

Follow these steps:

  1. Line up the decimal points and digits. The largest number should be on top.
  2. Start subtracting in the column to the right. Move towards the left, and borrow and regroup when needed.
  3. Bring the decimal point down and put the dollar sign in front of your answer.

For more practice with adding and subtracting decimals, try to Add and subtract decimal numbers, by IXL Learning, LLC.

Once you are ready, move on to the Got It? section to practice adding and subtracting money with some fun games!

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