Remember: Spend a little less than you earn, and the gap grows month by month. Treats are fine, and nobody is bad for owing.
Read and answer
Read the story first, then answer.
Three neighbors on Bay StreetNia, Obi and Pax of Bay Street each earned ten coins a month. Means are the coins that come in, ten a month for each. Nia spent eight a month, Obi spent ten and Pax spent twelve. Where did Pax's extra two coins come from? He borrowed them from a cousin and owed them back. Month by month Nia saved two, Obi saved nothing and Pax owed two more. After six months Nia had twelve, Obi had nothing and Pax owed twelve. The gap is the space between what comes in and what goes out. Nia's gap was two, and Pax's went the other way, but nobody is bad. A gap can pay for a surprise, a goal or a later jar. One stormy night a tap broke and the repair cost four coins. Nia paid from her jar, Obi had none and asked for help, and Pax owed more. In a year Nia's gap made twenty-four coins, enough for six broken taps, and a cushion makes a surprise a bump, not a fall. Then everyone got a raise to twelve. Obi spent all twelve, but Nia kept spending eight, so her gap grew to four. Living below your means is not being stingy: Nia still enjoyed treats, because she chose what mattered most to her.
1
What are your means?
The coins that come inThe coins you spendThe coins you owe
2
Pax earns 10 coins and spends 12 (the rings). Pax spends coins over his means.
3
Look at the table. Nia earns 10 and spends 8. Her gap is coins a month.
4
Look at the bars. Month 6 holds more coins than month 2.
5
Obi earns 10 and spends 10, so his gap is nothing.
TrueFalse
Order, match and fix
6
A tap breaks and the repair costs 4 coins. Who can pay from a jar?
ObiPaxNia
7
Nia's gap in a year is 24 coins. A tap repair costs 4. That pays for broken taps.
8
Put Pax's month in order.
Two coins are missing
Pax spends 12 coins
Pax borrows 2 from a cousin and owes them back
Pax earns 10 coins
9
Join each neighbor to where they are after six months.
1Nia
2Obi
3Pax
Aowes 12 coins
Bhas nothing
Chas 12 coins
10
Everyone gets a raise to 12. Obi spends all 12 and Nia keeps spending 8. What is Nia's gap now?
2 coins4 coins12 coins
11
Circle every true sentence.
A gap can pay for a surprise, a goal or a later jarExtra spending is free because the shop adds the coinsSpending over your means has to come from savings or a loanSomeone who owes coins did something shamefulNobody is bad for owing coins
12
Dan says: living below your means means never buying treats. Is Dan right?
YesNo
13
Ask a grown-up how their family decides what to spend and what to keep. Write one thing they said.
14
Draw Nia's jar with the coins she saved in three months.
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Answer key · Set A
Living below your means
1The coins that come in Means are the coins that come in each month.
22 12 − 10 = 2. Those 2 coins must come from savings or a loan.
32 10 − 8 = 2 coins. The gap is the space between what comes in and what goes out.
48 12 − 4 = 8 coins more.
5True 10 − 10 = 0. Everything goes out, so nothing is left.
6Nia Nia saved a gap, so she paid from her jar. Obi had none and Pax already owed.
76 24 ÷ 4 = 6 taps.
83, 2, 4, 1 He earns, spends too much, finds a gap, and has to borrow.
91-C, 2-B, 3-A Nia saved 2 for 6 months, Obi saved nothing, and Pax owed 2 more each month.
104 coins 12 − 8 = 4. Obi's gap stays nothing because he spent it all.
11A gap can pay for a surprise, a goal or a later jar, Spending over your means has to come from savings or a loan, Nobody is bad for owing coins A gap has many uses and extra spending comes from somewhere. Owing is ordinary, and nobody is bad for it.
12No It means spending a little less than you earn. Treats are fine.
13Your own words: a grown-up reads it.
Mark each answer, count the right ones and write the score on the sheet.