Tess's limit is 20. A lamp uses 5 and leaves 15 of room.
The big ideaA limit is the most a bank allows. It is a top, not a goal.
How it works
In the made-up town of Pennywell, Tess's card came with a limit of twenty coins. A limit is the most the bank lets her owe at one time. It is a ceiling, a top, not a goal.
Owing is not owning. When the bank pays the shop, Tess owes the bank, and every coin used is paid back.
Room is what is left under the limit. Room works like a cushion that catches surprises, like a flat tire.
The bank sets the top, but how far to go is the borrower's own choice, every time.
Tess and Kit, after the flat tire.What a limit is and is not.
Example 1: Room under the limit
Tess's limit is 20 coins.
She uses 5 on a lamp.
20 − 5 = 15 coins of room are left.
Example 2: Kit's three buys
Kit buys a drum for 8, a kite for 6 and a robot for 5.
8 + 6 + 5 = 19 coins used.
20 − 19 = 1 coin of room is left.
Example 3: The surprise
A flat tire costs 6 coins to mend.
Tess has used 5 + 6 = 11 coins, so she has 20 − 11 = 9 coins of room, and it is no problem.
Kit has just 1 coin of room, so the reader says no.
Kit is not in trouble. The limit just ran out.
Example 4: The month's bills
Tess's bill is 11 coins and Kit's is 19.
19 − 11 = 8, so Kit's bill is 8 coins bigger.
Every coin used is paid back.
Example 5: A bigger limit
The bank writes: your new limit is 30 coins.
Tess still owes 11 coins, exactly as before.
A bigger limit is not a bigger wallet. Only the top moved up.
Words to know
limit
The most the bank lets you owe at one time.
room
What is left under the limit.
ceiling
The top a limit sets. You can stay well under it.
owe
To have used coins that must be paid back.
cushion
Room that catches surprises.
Watch out
A limit is a top, not a goal. Nobody has to reach it.
Owing is not owning. Every coin used is paid back.
A bigger limit does not mean more coins in your wallet.
Surprises come to everybody, which is why room matters.
Try it
A limit is 20 and 8 coins are used. How much room is left?
Is a limit a goal to reach, or a top to stay under?
The bank raises a limit from 20 to 30. Does the borrower owe less?
Tess has used 11 of 20. How much room is left?
Answers: 1. 12 · 2. A top to stay under · 3. No · 4. 9
Try at homeWith a grown-up, find one limit in town, like a lift's weight limit or a speed limit, and say what staying under it gives everyone.
For grown-upsFind one limit in town together, like a lift's weight limit or a speed limit, and talk about what staying under it gives everyone. This is about a pretend card in a made-up town, not advice about any real card or bank.
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