Students should understand the difference between receiving money as income for work done or selling items and receiving money as a gift which is not earned.
In the following examples, decide if each statement is an example of receiving money as income or receiving money as a gift. Solve the problem by explaining your thinking and writing a number sentence.
a) Leo has 7 dollars he received for mowing the yard. His dad gave him 3 dollars for helping him wash the car. How much money does Leo have?b) Patty’s grandmother sent her 5 dollars for Christmas and 5 dollars for her birthday. How much money did Patty receive?
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K.9 Personal financial literacy The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to: