Let’s learn how to add and subtract money! First, we need to know how much each coin and dollar is worth. This will help us understand how to use them in math problems.
When we write money, we use decimals. The number before the decimal point is the dollars, and the number after is the cents. For example, if you have $5, a quarter, and a dime, you write it as $5.35.
Let’s add some money! If you have $5.35 and you get $2.70 more, you add them like this:
5.35 + 2.70 = 8.05
So, you have $8.05 now!
Now, let’s subtract. If you have $5.35 and you spend $2.70, you subtract like this:
5.35 – 2.70 = 2.65
Now, you have $2.65 left.
Imagine you have $10 and you buy a stuffed animal for $4.50. How much money do you have left? Let’s subtract:
10.00 – 4.50 = 5.50
You have $5.50 left!
Adding and subtracting money is fun and useful! Keep practicing with different amounts, and soon you’ll be a money math expert!
Coin Collection Game: Gather some coins and play a game with a friend or family member. Take turns picking a few coins and adding up their total value. Write down the amount using decimals. For example, if you pick a nickel, a dime, and a quarter, write down $0.40. See who can make exactly $1.00 first using different combinations of coins!
Shopping Adventure: Pretend you are going shopping with $10.00. Look through a toy catalog or online store with an adult and choose items you would like to buy. Write down the prices and practice adding them to see how much you would spend. Then, subtract the total from $10.00 to find out how much money you would have left. Try to find different combinations of items that will let you spend exactly $10.00.
Money Detective: Become a money detective by observing how money is used in everyday life. Next time you go to a store with an adult, watch how they pay for items. Notice the coins and bills used, and try to add up the total in your head. Ask questions like, “How much change will we get back?” or “If we buy one more item, how much will it cost in total?” Share your observations and calculations with your family.
Here’s a sanitized version of the transcript:
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**Adding and Subtracting Money**
Before we can begin adding and subtracting money, it’s important to know the value and decimal representation for each coin and dollar amount.
– Here is a penny: the decimal amount is 0.01.
– Here is a nickel: its decimal amount is 0.05 or 5 cents.
– Here is a dime: its decimal amount is 0.10 or 10 cents.
– Here is a quarter: its decimal amount is 0.25 or a quarter of a dollar.
– Here is a half dollar: its decimal amount is 0.50.
– This is a dollar: its decimal amount is 1.00 or $1.
– This is $5: its decimal amount is 5.00.
– And here is $10: its decimal amount is 10.00.
To add and subtract money, the amount must first be written as a decimal. The number of dollars will be written as the whole number to the left of the decimal, and the cents will be written as a fraction of a dollar to the right of the decimal point.
For example, the following amount would be written as $5.35 because there is one $5 bill, one quarter, and one dime. As with any decimal addition or subtraction problem, the most important thing to remember is that the decimal points must be lined up.
Adding the amount of $2.70 to our $5.35 would look like this:
5.35 + 2.70 = 8.05 or $8.05.
Subtracting the amount would look like this:
5.35 – 2.70 = 2.65 or $2.65.
Let’s look at another problem. If we have $10 and purchase a stuffed animal for $4.50, how much money do we have left?
Let’s see:
10.00 – 4.50 = 5.50 or $5.50.
And there you have it! Adding and subtracting money can be fun. Practice with the worksheets so you can become an expert in adding and subtracting money.
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