## Job Loss and Unemployment Stress

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## Understanding financial stress

Effects of financial stress on your health, tip 1: talk to someone, tip 2: take inventory of your finances, tip 3: make a plan—and stick to it, tip 4: create a monthly budget, tip 5: manage your overall stress, coping with financial stress.

Feeling overwhelmed by money worries? Whatever your circumstances, there are ways to get through these tough economic times, ease stress and anxiety, and regain control of your finances.

If you’re worried about money, you’re not alone. Many of us, from all over the world and from all walks of life, are having to deal with financial stress and uncertainty at this difficult time. Whether your problems stem from a loss of work, escalating debt, unexpected expenses, or a combination of factors, financial worry is one of the most common stressors in modern life. Even before the global coronavirus pandemic and resulting economic fallout, an American Psychological Association (APA) study found that 72% of Americans feel stressed about money at least some of the time. The recent economic difficulties mean that even more of us are now facing financial struggles and hardship.

Like any source of overwhelming stress, financial problems can take a huge toll on your mental and physical health, your relationships, and your overall quality of life. Feeling beaten down by money worries can adversely impact your sleep, self-esteem, and energy levels. It can leave you feeling angry, ashamed, or fearful, fuel tension and arguments with those closest to you, exacerbate pain and mood swings, and even increase your risk of depression and anxiety. You may resort to unhealthy coping mechanisms, such as drinking, abusing drugs, or gambling to try to escape your worries. In the worst circumstances, financial stress can even prompt suicidal thoughts or actions. But no matter how hopeless your situation seems, there is help available. By tackling your money problems head on, you can find a way through the financial quagmire, ease your stress levels, and regain control of your finances—and your life.

While we all know deep down there are many more important things in life than money, when you’re struggling financially fear and stress can take over your world. It can damage your self-esteem, make you feel flawed, and fill you with a sense of despair. When financial stress becomes overwhelming, your mind, body, and social life can pay a heavy price.

[Read: Stress Symptoms, Signs, and Causes]

Financial stress can lead to:

Insomnia or other sleep difficulties. Nothing will keep you tossing and turning at night more than worrying about unpaid bills or a loss of income.

Weight gain (or loss). Stress can disrupt your appetite, causing you to anxiously overeat or skip meals to save money.

Depression. Living under the cloud of money problems can leave anyone feeling down, hopeless, and struggling to concentrate or make decisions. According to a study at the University of Nottingham in the UK, people who struggle with debt are more than twice as likely to suffer from depression .

Anxiety. Money can be a safety net; without it, you may feel vulnerable and anxious. And all the worrying about unpaid bills or loss of income can trigger anxiety symptoms such as a pounding heartbeat, sweating, shaking, or even panic attacks.

Relationship difficulties. Money is often cited as the most common issue couples argue about. Left unchecked, financial stress can make you angry and irritable, cause a loss of interest in sex, and wear away at the foundations of even the strongest relationships .

Social withdrawal. Financial worries can clip your wings and cause you to withdraw from friends, curtail your social life, and retreat into your shell—which will only make your stress worse.

Physical ailments such as headaches, gastrointestinal problems, diabetes, high blood pressure , and heart disease. In countries without free healthcare, money worries may also cause you to delay or skip seeing a doctor for fear of incurring additional expenses.

Unhealthy coping methods , such as drinking too much , abusing prescription or illegal drugs, gambling, or overeating. Money worries can even lead to self-harm or thoughts of suicide.

## If you are feeling suicidal…

Your money problems may seem overwhelming and permanent right now. But with time, things will get better and your outlook will change, especially if you get help. There are many people who want to support you during this difficult time, so please reach out!

Read Are You Feeling Suicidal? , call 1-800-273-TALK in the U.S., or find a helpline in your country at IASP or Suicide.org .

## The vicious cycle of poor financial health and poor mental health

A number of studies have demonstrated a cyclical link between financial worries and mental health problems such as depression, anxiety, and substance abuse.

Financial problems adversely impact your mental health. The stress of debt or other financial issues leaves you feeling depressed or anxious.

The decline in your mental health makes it harder to manage money. You may find it harder to concentrate or lack the energy to tackle a mounting pile of bills. Or you may lose income by taking time off work due to anxiety or depression.

These difficulties managing money lead to more financial problems and worsening mental health problems, and so on. You become trapped in a downward spiral of increasing money problems and declining mental health.

No matter how bleak your situation may seem at the moment, there is a way out. These strategies can help you to break the cycle, ease the stress of money problems, and find stability again.

When you’re facing money problems, there’s often a strong temptation to bottle everything up and try to go it alone. Many of us even consider money a taboo subject, one not to be discussed with others. You may feel awkward about disclosing the amount you earn or spend, feel shame about any financial mistakes you’ve made, or embarrassed about not being able to provide for your family. But bottling things up will only make your financial stress worse. In the current economy, where many people are struggling through no fault of their own, you’ll likely find others are far more understanding of your problems.

[Read: Social Support for Stress Relief]

Not only is talking face-to-face with a trusted friend or loved one a proven means of stress relief, but speaking openly about your financial problems can also help you put things in perspective. Keeping money worries to yourself only amplifies them until they seem insurmountable. The simple act of expressing your problems to someone you trust can make them seem far less intimidating.

- The person you talk to doesn’t have to be able to fix your problems or offer financial help.
- To ease your burden, they just need to be willing to talk things out without judging or criticizing.
- Be honest about what you’re going through and the emotions you’re experiencing.
- Talking over your worries can help you make sense of what you’re facing and your friend or loved one may even be able to come up with solutions that you hadn’t thought of alone.

## Getting professional advice

Depending on where you live, there are a number of organizations that offer free counseling on dealing with financial problems, whether it’s managing debt, creating and sticking to a budget, finding work, communicating with creditors, or claiming benefits or financial assistance. (See the “Get more help” section below for links).

Whether or not you have a friend or loved one to talk to for emotional support, getting practical advice from an expert is always a good idea. Reaching out is not a sign of weakness and it doesn’t mean that you’ve somehow failed as a provider, parent, or spouse. It just means that you’re wise enough to recognize your financial situation is causing you stress and needs addressing.

## Speak to a Licensed Therapist

BetterHelp is an online therapy service that matches you to licensed, accredited therapists who can help with depression, anxiety, relationships, and more. Take the assessment and get matched with a therapist in as little as 48 hours.

## Opening up to your family

Financial problems tend to impact the whole family and enlisting your loved ones’ support can be crucial in turning things around. Even if you take pride in being self-sufficient, keep your family up to date on your financial situation and how they can help you save money.

Let them express their concerns. Your loved ones are probably worried—about both you and the financial stability of your family unit. Listen to their concerns and allow them to offer suggestions on how to resolve the financial problems you’re facing.

Make time for (inexpensive) family fun. Set aside regular time where you can enjoy each other’s company, let off steam, and forget about your financial worries. Walking in the park, playing games, or exercising together doesn’t have to cost money but it can help ease stress and keep the whole family positive.

If you’re struggling to make ends meet, you may think you can ease your stress by leaving bills unopened, avoiding phone calls from creditors, or ignoring bank and credit card statements. But denying the reality of your situation will only make things worse in the long run. The first step to devising a plan to solve your money problems is to detail your income, debt, and spending over the course of at least one month.

A number of websites and smartphone apps can help you keep track of your finances moving forward or you can work backwards by gathering receipts and examining bank and credit card statements. Obviously, some money difficulties are easier to solve than others, but by taking inventory of your finances you’ll have a much clearer idea of where you stand. And as daunting or painful as the process may seem, tracking your finances in detail can also help you start to regain a much-needed sense of control over your situation.

Include every source of income. In addition to any salary, include bonuses, benefits, alimony, child support, or any interest you receive.

Keep track of ALL your spending. When you’re faced with a pile of past-due bills and mounting debt, buying a coffee on the way to work may seem like an irrelevant expense. But seemingly small expenses can mount up over time, so keep track of everything. Understanding exactly how you spend your money is key to budgeting and devising a plan to address your financial problems.

List your debts. Include past-due bills, late fees, and list minimum payments due as well as any money you owe to family or friends.

Identify spending patterns and triggers. Does boredom or a stressful day at work cause you to head to the mall or start online shopping? When the kids are acting out, do you keep them quiet with expensive restaurant or takeout meals, rather than cooking at home ? Once you’re aware of your triggers you can find healthier ways of coping with them than resorting to “retail therapy”.

Look to make small changes. Spending money on things like a morning newspaper, lunchtime sandwich, or break-time cigarettes can add up to a significant monthly outlay. While it may be unreasonable to deny yourself every small pleasure, cutting down on nonessential spending and finding small ways to reduce your daily expenditure can really help to free up extra cash to pay off bills.

Eliminate impulse spending. Ever seen something online or in a shop window that you just had to buy? Impulsive buying can wreck your budget and max out your credit cards. To break the habit, try making a rule that you’ll wait a week before making any new purchase.

Go easy on yourself. As you review your debt and spending habits, remember that anyone can get into financial difficulties, especially at times like this . Don’t use this as an excuse to punish yourself for any perceived financial mistakes. Give yourself a break and focus on the aspects you can control as you look to move forward.

## When your financial problems go beyond money

Sometimes, the causes for your financial difficulties may lie elsewhere. For example, money troubles can stem from problem gambling , fraud abuse , or a mental health issue, such as overspending during a bipolar manic episode .

To prevent the same financial problems recurring, it’s imperative you address both the underlying issue and the money troubles it’s created in your life.

Just as financial stress can be caused by a wide range of different money problems, so there are an equally wide range of possible solutions. The plan to address your specific problem could be to live within a tighter budget, lower the interest rate on your credit card debt, curb your online spending, seek government benefits, declare bankruptcy, or to find a new job or additional source of income.

If you’ve taken inventory of your financial situation, eliminated discretionary and impulse spending, and your outgoings still exceed your income, there are essentially three choices open to you: increase your income, lower your spending, or both. How you go about achieving any of those goals will require making a plan and following through on it.

- Identify your financial problem. Having taken inventory, you should be able to clearly identify the financial problem you’re facing. It may be that you have too much credit card debt, not enough income, or you overspend on unnecessary purchases when you feel stressed or anxious. Or perhaps, it’s a combination of problems. Make a separate plan for each one.
- Devise a solution. Brainstorm ideas with your family or a trusted friend, or consult a free financial counseling service. You may decide that talking to credit card companies and requesting a lower interest rate would help solve your problem. Or maybe you need to restructure your debt, eliminate your car payment, downsize your home, or talk to your boss about working overtime.
- Put your plan into action. Be specific about how you can follow through on the solutions you’ve devised. Perhaps that means cutting up credit cards, networking for a new job , registering at a local food bank, or selling things on eBay to pay off bills, for example.
- Monitor your progress. As we’ve all experienced recently, events that impact your financial health can happen quickly, so it’s important to regularly review your plan. Are some aspects working better than others? Do changes in interest rates, your monthly expenses, or your hourly wage, for example, mean you should revise your plan?
- Don’t get derailed by setbacks. We’re all human and no matter how tight your plan, you may stray from your goal or something unexpected could happen to derail you. Don’t beat yourself up, but get back on track as soon as possible.

The more detailed you can make your plan, the less powerless you’ll feel over your financial situation.

Whatever your plan to relieve your financial problems, setting and following a monthly budget can help keep you on track and regain your sense of control.

- Include everyday expenses in your budget, such as groceries and the cost of traveling to work, as well as monthly rent, mortgage, and utility bills.
- For items that you pay annually, such as car insurance or property tax, divide them by 12 so you can set aside money each month.
- If possible, try to factor in unexpected expenses, such as a medical co-pay or prescription charge if you fall sick, or the cost of home or car repairs.
- Set up automatic payments wherever possible to help ensure bills are paid on time and you avoid late payments and interest rate hikes.
- Prioritize your spending. If you’re having trouble covering your expenses each month, it can help to prioritize where your money goes first. For example, feeding and housing yourself and your family and keeping the power on are necessities. Paying your credit card isn’t—even if you’re behind on your payments and have debt collection companies harassing you.
- Keep looking for ways to save money. Most of us can find something in our budget that we can eliminate to help make ends meet. Regularly review your budget and look for ways to trim expenses.
- Enlist support from your spouse, partner, or kids. Make sure everyone in your household is pulling in the same direction and understands the financial goals you’re working towards.

Resolving financial problems tends to involve small steps that reap rewards over time. In the current economic climate, it’s unlikely your financial difficulties will disappear overnight. But that doesn’t mean you can’t take steps right away to ease your stress levels and find the energy and peace of mind to better deal with challenges in the long-term.

[Read: Stress Management]

Get moving. Even a little regular exercise can help ease stress, boost your mood and energy, and improve your self-esteem. Aim for 30 minutes on most days, broken up into short 10-minute bursts if that’s easier.

Practice a relaxation technique. Take time to relax each day and give your mind a break from the constant worrying. Meditating , breathing exercises, or other relaxation techniques are excellent ways to relieve stress and restore some balance to your life.

Don’t skimp on sleep. Feeling tired will only increase your stress and negative thought patterns. Finding ways to improve your sleep during this difficult time will help both your mind and body.

Boost your self-esteem. Rightly or wrongly, experiencing financial problems can cause you to feel like a failure and impact your self-esteem. But there are plenty of other, more rewarding ways to improve your sense of self-worth. Even when you’re struggling yourself, helping others by volunteering can increase your confidence and ease stress, anger, and anxiety—not to mention aid a worthy cause. Or you could spend time in nature, learn a new skill, or enjoy the company of people who appreciate you for who you are, rather than for your bank balance.

Eat healthy food. A healthy diet rich in fruit, vegetables, and omega-3s can help support your mood and improve your energy and outlook. And you don’t have to spend a fortune; there are ways to eat well on a budget .

Be grateful for the good things in your life. When you’re plagued by money worries and financial uncertainty , it’s easy to focus all your attention on the negatives. While you don’t have to ignore reality and pretend everything’s fine, you can take a moment to appreciate a close relationship, the beauty of a sunset, or the love of a pet, for example. It can give your mind a break from the constant worrying, help boost your mood, and ease your stress.

## Find financial resources

Find U.S. Government Services and Information including How to Get Out of Debt , Unemployment Help , and Getting Help with Living Expenses . Or call 1-844-872-4681. (USA gov)

Get help with debt and housing problems from Citizens Advice , contact a free debt service at National Debtline or Stepchange , or seek free financial advice from the government’s Money Advice Service .

Find Government Services , get free Financial Counselling or call the National Debt Helpline at 1800 007 007.

Find government services and information for Managing Debt and Benefits .

## More Information

- Managing Job Loss and Financial Stress - Helping yourself and your family cope with stress and financial worries following job loss. (University of Hawaii)
- Managing Debt - Steps you can take to deal with debt. (Federal Trade Commission)
- Managing money and budgeting - Tips for creating a family budget. (raisingchildren.net.au)
- Make a Budget - Simple worksheet to help you create a budget. (Federal Trade Commission)
- Money Stress Weighing on Americans’ Health - Details of the 2015 Stress in America: Paying with Our Health survey from the American Psychological Association. (APA)
- Trauma- and Stressor-Related Disorders. (2013). In Diagnostic and Statistical Manual of Mental Disorders . American Psychiatric Association. Link
- Inc, Gallup. “The U.S. Healthcare Cost Crisis.” Gallup.com. Accessed November 16, 2021. Link
- Anderson, Norman B, Cynthia D Belar, Steven J Breckler, Katherine C Nordal, David W Ballard, Lynn F Bufka, Luana Bossolo, Sophie Bethune, Angel Brownawell, and Katelynn Wiggins. Stress in America: Paying with our Health. “AMERICAN PSYCHOLOGICAL ASSOCIATION,” n.d., 23. Link
- Ramsey Solutions. “Money, Marriage, and Communication.” Accessed November 16, 2021. Link
- “At What Costs? Student Loan Debt, Debt Stress, and Racially/Ethnically Diverse College Students’ Perceived Health. – PsycNET.” Accessed November 16, 2021. Link
- Richardson, Thomas, Peter Elliott, and Ronald Roberts. “The Relationship between Personal Unsecured Debt and Mental and Physical Health: A Systematic Review and Meta-Analysis.” Clinical Psychology Review 33, no. 8 (December 1, 2013): 1148–62. Link
- Warth, Jacqueline, Marie-Therese Puth, Judith Tillmann, Johannes Porz, Ulrike Zier, Klaus Weckbecker, and Eva Münster. “Over-Indebtedness and Its Association with Sleep and Sleep Medication Use.” BMC Public Health 19, no. 1 (July 17, 2019): 957. Link
- Saleh, Dalia, Nathalie Camart, Fouad Sbeira, and Lucia Romo. “Can We Learn to Manage Stress? A Randomized Controlled Trial Carried out on University Students.” PLOS ONE 13, no. 9 (September 5, 2018): e0200997. Link
- “Stress, Social Support, and the Buffering Hypothesis. – PsycNET.” Accessed November 15, 2021. Link
- Salmon, P. “Effects of Physical Exercise on Anxiety, Depression, and Sensitivity to Stress: A Unifying Theory.” Clinical Psychology Review 21, no. 1 (February 2001): 33–61. Link
- Toussaint, Loren, Quang Anh Nguyen, Claire Roettger, Kiara Dixon, Martin Offenbächer, Niko Kohls, Jameson Hirsch, and Fuschia Sirois. “Effectiveness of Progressive Muscle Relaxation, Deep Breathing, and Guided Imagery in Promoting Psychological and Physiological States of Relaxation.” Evidence-Based Complementary and Alternative Medicine 2021 (July 3, 2021): e5924040. Link

## More in Stress

Coping with the stress of losing a job

How to cope with events in life outside your control

Preventing and dealing with financial exploitation

Quick tips for when you’re short on time

Using close relationships to manage stress and improve well-being

Fill your life with music that reduces daily stress

Tips for overcoming adversity

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How to reduce, prevent, and relieve stress

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## Money Basics - Financial Problem Solving Strategies

Money basics -, financial problem solving strategies, money basics financial problem solving strategies.

## Money Basics: Financial Problem Solving Strategies

Lesson 2: financial problem solving strategies.

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## Financial problem-solving strategies

Have you ever experienced a financial problem? Do you feel like finances are holding you back from reaching your goals? This lesson will give a brief overview of the general problem-solving process and how to apply it to the most common financial problems.

## The problem-solving process

First, let's take a look at a general problem-solving process that you can apply to any situation, not just a financial one.

- Identify the problem . The first step in solving a problem is to identify it. What exactly do you need to overcome?
- Make a plan. What are the steps you need to take in order to overcome the problem?
- Implement the plan . This step actually puts the plan you created in place. While it sounds fairly straightforward, this is usually the most difficult step.
- Evaluate the plan . Although this is listed last, this step might actually occur simultaneously with implementing the plan. Things happen and circumstances change, so you may need to re-evaluate your plan as it is happening.

## Identifying the problem

The first step in the problem-solving process is to get to the root of the problem and understand what you need to overcome. Here is a list of the most common financial problems people may face:

- Lack of income/job loss
- Unexpected expenses
- Too much debt
- Need for financial independence
- Overspending or lack of budget
- Lack of savings

When thinking about these common problems, each one falls into one of three areas: You need more money, you need to reduce your debt, or you need to change how you spend.

## Making a plan

After identifying the problem you need to overcome, it's time to make a plan. Not sure where to start? No worries! We have you covered with some tips and places to begin.

Problem 1: You need more money . Whether you've lost your job, met an unexpected expense, or are working on becoming more financially independent, a form of income is necessary.

If you are a looking for additional work or maybe just a better-paying job, take some time to update your resume and cover letter. Make sure they are neat, up to date with your most current information, and free of spelling and grammar errors.

Be wary of any advertisements or jobs that offer fast, easy money. A lot of quick-cash methods come with unintended consequences. More often than not, if something sounds too good to be true, it probably is.

Problem 2: You need to reduce your debt . With high interest rates or the need to live paycheck to paycheck, high debt can be debilitating. Sometimes it feels like climbing a neverending mountain with an invisible peak. However, by prioritizing and negotiating your debt, you can make it more manageable.

Try listing all of your debt and the interest rates associated with each. Focus on paying off the ones with the highest interest rates first. If you're having trouble making payments, call the loan company and see if it can offer any solutions for you. The company may be able to lower your interest rate or offer a temporary forbearance to help you get back on your feet. If you need more help tackling your debt, you may want to contact a professional debt counselor like Consolidated Credit.

Problem 3: You need to change how you spend . Going from financial problems to a healthy financial status often requires organization and a shift in thinking. Avoiding overspending, building your savings, and gaining financial independence can often be accomplished with good spending habits.

The first thing you may want to try is creating a budget. There are many templates and resources available to help you create one. Sticking to one can be challenging, but simply having a budget laid out can help you see where you need to start spending less.

In addition to your budget, create a savings plan. Start out small. Even stowing away an extra dollar or two here and there can make a big difference. Also, try placing your savings in a place you cannot easily access. For example, create a savings account at a bank you don't usually use. The more difficult it is to access your money, the less likely you are to spend it.

## Implementing the plan

Although the explanation of this part is the simplest, this is often the most difficult part to actually execute. It requires self-discipline and perseverance. The most important part of this step is to know that if your plan doesn't work or if you have a difficult time sticking to it, all is not lost. If it happens, move on to the next step, evaluate your plan, then repeat the process.

Overcoming financial obstacles can require changing your lifestyle, and this does not happen overnight. However, just having a plan itself can help to give you confidence and reassurance that you can eventually overcome whatever is in your way.

## Evaluating your plan

As you implement your plan, you'll need to continually evaluate it. Maybe something happens and your original plan needs to change. Perhaps you've learned more along the way and realize that your original plan was incomplete. Or maybe your first plan went as planned and was a success. No matter the circumstances, it is always a good idea to look back and re-evaluate. Try answering these questions:

- Was your problem solved? Did a new problem arise?
- What went right?
- What went wrong?
- What circumstances changed?
- Was there anything you didn't account for?
- What was easy about implementing your plan?
- What was difficult about implementing your plan?

Financial obstacles can often seem debilitating and impossible to overcome. They often create a significant source of financial anxiety . We hope this lesson will help give you the confidence to take on your problem one step at a time so you can conquer your anxiety and move forward.

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## 16 Money Word Problems with Solutions and Answers (By Grade)

By: Author Amanda L. Grossman

Posted on Last updated: January 9, 2024

## Develop students’ money life skills plus work on math concepts with real-life money word problems with solutions and answers.

Bell ringers, math centers, classroom money pickles, daily warm-ups…you can sneak these money word problems with solutions and answers into your student’s day in lots of different ways.

Or, make them the highlight of your 30-minute personal finance session – use whatever time you’ve got.

The exciting thing about using money word problems and consumer math worksheets is you’re giving your students the chance to practice both math AND money life skills they’ll be able to use out in the wilds of the “real world” (like in the produce section of the super market).

Awesome! Let’s dig in.

## Money Word Problems with Solutions and Answers

Money word problems can begin as early as 2 nd grade with simple addition and subtraction.

And they get increasingly more complex – two steps, then multiple steps, and more complex thinking – as students go through middle school and then high school.

We’ll start with the easier money word problems, and move into more complex ones, by grade.

Psst: do your students need a refresher on counting money or identifying coins? Here are free 2 nd grade money worksheets , 14 money counting games , and a bunch of free consumer math worksheets .

## Money Word Problems Grade 3

While there’s no mention of money for Grade 3 Common Core Standards , you can relate several of the math standards to money word problems.

Teaching students math AND money life skills at the same time? #winning.

For example:

- Number and Operations in Base Ten (CCSS.MATH.CONTENT.3.NBT.A.2) : Fluently add and subtract within 1000 using strategies and algorithms based on place value, properties of operations, and/or the relationship between addition and subtraction.
- Operations and Algebraic Thinking (CCSS.MATH.CONTENT.3.OA.D.8) : Solve two-step word problems using the four operations. Represent these problems using equations with a letter standing for the unknown quantity. Assess the reasonableness of answers using mental computation and estimation strategies including rounding.

Here are some worksheets with money word problems to help your students practice these concepts.

## 1. Money Task Cards + Scavenger Hunt

This free set of money task cards each has mostly one-step money word problems on them.

You can cut them out, and do a scavenger hunt around the room to get students up and moving. OR, she has lots of other ideas for how to use them. There’s also a worksheet asking students to come up with their own money word problem using specific amounts.

Very helpful!

## 2. Money Shopping Word Problems

Scroll down on this page, and you’ll find a nice collection of shopping money word problem worksheets for free.

Students will work through:

- Adding up the cost of ordered items from a menu
- Calculating their change after an order
- Calculating sales tax

They’ve also got some good free worksheets on Wage word problems, simple and compound interest calculation word problems, etc.

Hint: there’s worksheets in here for older grades, too.

## Two-Step Money Word Problems for 3 rd Graders

You likely saw above that third graders are supposed to be doing two-step word problems.

Two-step money word problems require two calculations to complete them. They’re not entirely straightforward – your students will need to think things through a bit more before they can come up with the correct answer.

## 3. Money Within $100 Word Problems

Get your set of 5 free, two-step money word problems within $100. Each word problem has space to draw and work through the problem.

## 4. Simple Two-Step Money Word Problems

Here’s a three-page set of two-step money word problems that have students add up the total amount of spending, then figure out how much change they should get back.

There are spaces for students to work out each of the two steps.

Hint: this is a free set of money word problems, but you’ll need a free Teachers Pay Teachers account to access it.

## 5. August Problem Solving Path Worksheets

I just love the real-world approach this packet of word problems takes.

She includes a math journal for each problem (there is one money word problem, and the rest are word problems involving other common core standards for 3 rd graders), and a rubric on the math journal sheet so that you can easily grade based on your student’s work.

There’s both a US and a UK version.

## 6. Two Simple Two-Step Money Word Problems

And here’s another set of two-step money word problems for 2 nd -4 th graders. Again, kids are asked to add up the total cost of items purchased, then calculate how much change they would get back.

## 7. Can I Buy It? Word Problems

If you’re looking for an easier set of two-step word problems for your bunch of students, then you should check these out.

## 8. Mix of One-Step and Two-Step Money Word Problems

Here’s a simple worksheet that has a mix of both two-step and one-step money word problems for 3 rd graders. The theme is around ordering food items.

## Money Word Problems with Solutions and Answers Grade 5

There are no Common Core State Standards for Mathematics (CCSSM) specifically for money math at the 5th grade level.

However, you can relate the math concepts in the CCSSM to real-life money scenarios with these money word problems.

- Number and Operations in Base Ten (CCSS.MATH.CONTENT.5.NBT.B.5 – B.7) : Students should be able to perform operations with multi-digit whole numbers and decimals to the hundredths (which is an essential skill when working with money).
- Operations and Algebraic Thinking (CCSS.MATH.CONTENT.5.OA.A.2) : Students should be able to understand and write expressions and equations and solve real-world and mathematical problems using addition, subtraction, multiplication, and division.

## 1. Bertie’s Big Win

Students are tasked with figuring out how much money Bertie won through the lottery, based on the fractional amounts he spent on various things (like a house, a trip to space, a luxury yacht, etc.).

Answer sheet is included, which is good – because this is a tough one!

Hint: they say on the website that the 4 th grade versions of his money word problems are a bit easier than the 5 th grade ones, so you might want to try those if this seems too hard for your class.

## 2. YMI’s Healthy Meal, Healthy Budget Worksheets

Grab your free teaching kit (for grades 3-5, then 6-8) that pairs healthy eating lessons with 5 money math word problems you’d find in the real world.

For example, the first word problem asks students to plan a meal for two people using chicken tenders as the base. They’re given the serving size for each person, then two different options to buy and asked to calculate which is the best money (by calculating the per-unit cost and then comparing that with what they get).

Answers and explanations are provided.

## 3. Mixed Practice Money Word Problems

Students are given three paragraphs describing a real-life scenario that is going to cost money. Then, students are asked a series of questions below it, and will need to use multiple kinds of calculations to solve them (subtraction, addition, multiplication, etc.).

## 4. Value Your Power Word Problems

Here’s a set of money math worksheets tied to electricity use in the household.

In the first activity, students are asked to decipher an electricity bill. They’ll chart the kilowatts used each month of the year, and then work through a series of questions based on that information (such as calculating an average monthly cost).

There’s also a Value Your Power Scoreboard worksheet students can take home as a family challenge.

Hint: it says it’s for 4 th grade – but I suspect these would be great for some 5 th grade students anyway.

## 5. Thanksgiving Dinner PBL

This project for grades 3-5 starts with the following driving question:

“ I need to feed my family of six for Thanksgiving. For my meal I need an appetizer, main dish, two side dishes, a dessert, and a drink (at least). I have $175 to spend on all the ingredients and any decorations I may want. What should I make?”

Students are tasked with creating a meal plan, recipes, and a grocery list with prices.

Hint: you’ll need a free account on ShareMyLesson.com to download this free lesson plan and rubric.

## Advanced Money Word Problems for Older Students

Got a group of high schoolers, or advanced middle schoolers to find money word problems for? These multi-step money word problems and money-thinkers might be just the thing.

## Money Word Problem #1: Ad Sale Decode

Money Lesson : Ads aren’t always truthful, or as good of a deal as they first seem.

Norgay Sherpa, a mighty Everest climber who has personally climbed to the top of Everest three times (called summitting), saw a television commercial for a pair of Black Diamond Trail Pro Shock Trekking Poles. They have non-slip grips + are collapsible (something that would be very helpful on future climbs).

He wants to purchase them, but is confused about how much his total cost will be. Here are the details for a pair of trekking poles:

- Two easy payments of $127.05
- $9.95 Shipping & Handling
- Get one extra pair free (an incredible deal!), just pay Shipping & Handling (S&H)

What is Sherpa Norgay’s total cost going to be?

Answer : $274. How you get there is adding the two “easy payments” of $127.05 + $127.05 + $9.95 S&H + $9.95 S&H (for the second “free” pair).

## Money Word Problem #2: Car Insurance Snafu

Money Lesson : How auto insurance works.

One of your expedition partners, Sandy, is facing a money dilemma. She called her husband over Base Camp’s satellite phone and found out he was in a car accident. Don’t worry, he’s okay! But their family car looks like it was in an Avalanche.

Here are the details:

- The accident was her husband’s fault, meaning he hit the other car.
- Her family has a liability auto insurance policy that insures both of their vehicles.
- They pay a monthly premium of $96/month.
- They took the vehicle to a repair shop, and the quote to repair their car is $875.
- They have an auto insurance deductible of $500.

How much is this car repair going to cost Sandy and her family out of their own pocket?

Answer : $875. They don’t have comprehensive car insurance, and Liability Only insurance means costs to repair the other person’s car will be paid, but not their own car. So, they’re left to pay the full $875.

## Money Word Problem #3: Foreign Currency Mix Up

Money Lesson : How to figure out the value of a US Dollar against one of the other 168 currencies in the world.

Mingma Sherpa has been an outstanding partner for your expedition team. He’s done all of his duties to help you on Everest − such as setting up your tents and cooking some of your meals − and was paid 360,908.33 Nepalese Rupees for doing so.

It is common courtesy to tip your Sherpa, especially when they’ve done a great job. If you were to tip Mingma 51,593.24 Nepalese Rupees, how many US Dollars would that be?

Assume that 1 US dollar = 103.186 Nepalese Rupees.

Answer : $500 US Dollars. That’s 51,593.24/103.186.

I hope you’ve found some helpful money word problems with solutions and answers. I think these can open up some fun and helpful discussions with and between students that will help them manage their money as adults.

- Latest Posts

## Amanda L. Grossman

Latest posts by amanda l. grossman ( see all ).

- 50 Banking Activities for Kids (Student Financial Literacy) - February 14, 2024
- 14 Christmas Activities for High School Students (they’ll Actually Find Cool) - December 1, 2023
- 3 Fun Selfie Scavenger Hunts for Teens (Christmas, Fin Lit, etc.) - November 27, 2023

- 7.3 Methods for Solving Time Value of Money Problems
- Why It Matters
- 1.1 What Is Finance?
- 1.2 The Role of Finance in an Organization
- 1.3 Importance of Data and Technology
- 1.4 Careers in Finance
- 1.5 Markets and Participants
- 1.6 Microeconomic and Macroeconomic Matters
- 1.7 Financial Instruments
- 1.8 Concepts of Time and Value
- Multiple Choice
- Review Questions
- Video Activity
- 2.1 Business Structures
- 2.2 Relationship between Shareholders and Company Management
- 2.3 Role of the Board of Directors
- 2.4 Agency Issues: Shareholders and Corporate Boards
- 2.5 Interacting with Investors, Intermediaries, and Other Market Participants
- 2.6 Companies in Domestic and Global Markets
- CFA Institute
- 3.1 Microeconomics
- 3.2 Macroeconomics
- 3.3 Business Cycles and Economic Activity
- 3.4 Interest Rates
- 3.5 Foreign Exchange Rates
- 3.6 Sources and Characteristics of Economic Data
- 4.1 Cash versus Accrual Accounting
- 4.2 Economic Basis for Accrual Accounting
- 4.3 How Does a Company Recognize a Sale and an Expense?
- 4.4 When Should a Company Capitalize or Expense an Item?
- 4.5 What Is “Profit” versus “Loss” for the Company?
- 5.1 The Income Statement
- 5.2 The Balance Sheet
- 5.3 The Relationship between the Balance Sheet and the Income Statement
- 5.4 The Statement of Owner’s Equity
- 5.5 The Statement of Cash Flows
- 5.6 Operating Cash Flow and Free Cash Flow to the Firm (FCFF)
- 5.7 Common-Size Statements
- 5.8 Reporting Financial Activity
- 6.1 Ratios: Condensing Information into Smaller Pieces
- 6.2 Operating Efficiency Ratios
- 6.3 Liquidity Ratios
- 6.4 Solvency Ratios
- 6.5 Market Value Ratios
- 6.6 Profitability Ratios and the DuPont Method
- 7.1 Now versus Later Concepts
- 7.2 Time Value of Money (TVM) Basics
- 7.4 Applications of TVM in Finance
- 8.1 Perpetuities
- 8.2 Annuities
- 8.3 Loan Amortization
- 8.4 Stated versus Effective Rates
- 8.5 Equal Payments with a Financial Calculator and Excel
- 9.1 Timing of Cash Flows
- 9.2 Unequal Payments Using a Financial Calculator or Microsoft Excel
- 10.1 Characteristics of Bonds
- 10.2 Bond Valuation
- 10.3 Using the Yield Curve
- 10.4 Risks of Interest Rates and Default
- 10.5 Using Spreadsheets to Solve Bond Problems
- 11.1 Multiple Approaches to Stock Valuation
- 11.2 Dividend Discount Models (DDMs)
- 11.3 Discounted Cash Flow (DCF) Model
- 11.4 Preferred Stock
- 11.5 Efficient Markets
- 12.1 Overview of US Financial Markets
- 12.2 Historical Picture of Inflation
- 12.3 Historical Picture of Returns to Bonds
- 12.4 Historical Picture of Returns to Stocks
- 13.1 Measures of Center
- 13.2 Measures of Spread
- 13.3 Measures of Position
- 13.4 Statistical Distributions
- 13.5 Probability Distributions
- 13.6 Data Visualization and Graphical Displays
- 13.7 The R Statistical Analysis Tool
- 14.1 Correlation Analysis
- 14.2 Linear Regression Analysis
- 14.3 Best-Fit Linear Model
- 14.4 Regression Applications in Finance
- 14.5 Predictions and Prediction Intervals
- 14.6 Use of R Statistical Analysis Tool for Regression Analysis
- 15.1 Risk and Return to an Individual Asset
- 15.2 Risk and Return to Multiple Assets
- 15.3 The Capital Asset Pricing Model (CAPM)
- 15.4 Applications in Performance Measurement
- 15.5 Using Excel to Make Investment Decisions
- 16.1 Payback Period Method
- 16.2 Net Present Value (NPV) Method
- 16.3 Internal Rate of Return (IRR) Method
- 16.4 Alternative Methods
- 16.5 Choosing between Projects
- 16.6 Using Excel to Make Company Investment Decisions
- 17.1 The Concept of Capital Structure
- 17.2 The Costs of Debt and Equity Capital
- 17.3 Calculating the Weighted Average Cost of Capital
- 17.4 Capital Structure Choices
- 17.5 Optimal Capital Structure
- 17.6 Alternative Sources of Funds
- 18.1 The Importance of Forecasting
- 18.2 Forecasting Sales
- 18.3 Pro Forma Financials
- 18.4 Generating the Complete Forecast
- 18.5 Forecasting Cash Flow and Assessing the Value of Growth
- 18.6 Using Excel to Create the Long-Term Forecast
- 19.1 What Is Working Capital?
- 19.2 What Is Trade Credit?
- 19.3 Cash Management
- 19.4 Receivables Management
- 19.5 Inventory Management
- 19.6 Using Excel to Create the Short-Term Plan
- 20.1 The Importance of Risk Management
- 20.2 Commodity Price Risk
- 20.3 Exchange Rates and Risk
- 20.4 Interest Rate Risk

## Learning Outcomes

By the end of this section, you will be able to:

- Explain how future dollar amounts are calculated.
- Explain how present dollar amounts are calculated.
- Describe how discount rates are calculated.
- Describe how growth rates are calculated.
- Illustrate how periods of time for specified growth are calculated.
- Use a financial calculator and Excel to solve TVM problems.

We can determine future value by using any of four methods: (1) mathematical equations, (2) calculators with financial functions, (3) spreadsheets, and (4) FVIF tables. With the advent and wide acceptance and use of financial calculators and spreadsheet software, FVIF (and other such time value of money tables and factors) have become obsolete, and we will not discuss them in this text. Nevertheless, they are often still published in other finance textbooks and are also available on the internet to use if you so choose.

## Using Timelines to Organize TVM Information

A useful tool for conceptualizing present value and future value problems is a timeline. A timeline is a visual, linear representation of periods and cash flows over a set amount of time. Each timeline shows today at the left and a desired ending, or future point (maturity date), at the right.

Now, let us take an example of a future value problem that has a time frame of five years. Before we begin to solve for any answers, it would be a good approach to lay out a timeline like that shown in Table 7.1 :

The timeline provides a visual reference for us and puts the problem into perspective.

Now, let’s say that we are interested in knowing what today’s balance of $100 in our saving account, earning 5% annually, will be worth at the end of each of the next five years. Using the future value formula

that we covered earlier, we would arrive at the following values: $105 at the end of year one, $110.25 at the end of year two, $115.76 at the end of year three, $121.55 at the end of year four, and $127.63 at the end of year five.

With the numerical information, the timeline (at a 5% interest or growth rate) would look like Table 7.2 :

Using timelines to lay out TVM problems becomes more and more valuable as problems become more complex. You should get into the habit of using a timeline to set up these problems prior to using the equation, a calculator, or a spreadsheet to help minimize input errors. Now we will move on to the different methods available that will help you solve specific TVM problems. These are the financial calculator and the Excel spreadsheet.

## Using a Financial Calculator to Solve TVM Problems

An extremely popular method of solving TVM problems is through the use of a financial calculator. Financial calculators such as the Texas Instruments BAII Plus™ Professional will typically have five keys that represent the critical variables used in most common TVM problems: N , I/Y , PV , FV , and PMT . These represent the following:

These are the only keys on a financial calculator that are necessary to solve TVM problems involving a single payment or lump sum .

## Example 1: Future Value of a Single Payment or Lump Sum

Let’s start with a simple example that will provide you with most of the skills needed to perform TVM functions involving a single lump sum payment with a financial calculator.

Suppose that you have $1,000 and that you deposit this in a savings account earning 3% annually for a period of four years. You will naturally be interested in knowing how much money you will have in your account at the end of this four-year time period (assuming you make no other deposits and withdraw no cash).

To answer this question, you will need to work with factors of $1,000, the present value ( PV ); four periods or years, represented by N ; and the 3% interest rate, or I/Y . Make sure that the calculator register information is cleared, or you may end up with numbers from previous uses that will interfere with the solution. The register-clearing process will depend on what type of calculator you are using, but for the TI BA II Plus™ Professional calculator, clearing can be accomplished by pressing the keys 2ND and FV [ CLR TVM ].

Once you have cleared any old data, you can enter the values in the appropriate key areas: 4 for N , 3 for I/Y , and 1000 for PV . Now you have entered enough information to calculate the future value. Continue by pressing the CPT (compute) key, followed by the FV key. The answer you end up with should be displayed as 1,125.51 (see Table 7.3 ).

## Important Notes for Using a Calculator and the Cash Flow Sign Convention

Please note that the PV was entered as negative $1,000 (or -$1000). This is because most financial calculators (and spreadsheets) follow something called the cash flow sign convention, which is a way for calculators and spreadsheets to keep the relative direction of the cash flow straight. Positive numbers are used to represent cash inflows, and negative numbers should always be used for cash outflows.

In this example, the $1,000 is an investment that requires a cash outflow. For this reason, -1000 is entered as the present value, as you will be essentially handing this $1,000 to a bank or to someone else to initiate the transaction. Conversely, the future value represents a cash inflow in four years’ time. This is why the calculator generates a positive 1,125.51 as the end result of this calculation.

Had you entered the present value of $1,000 as a positive number, there would have been no real concern, but the ending future value answer would have been returned expressed as a negative number. This would be correct had you borrowed $1,000 today (cash inflow) and agreed to repay $1,125.51 (cash outflow) four years from now. Also, it is important that you do not change the sign of any input value by using the - (minus) key). For example, on the TI BA II Plus™ Professional, you must use the +|- key instead of the minus key. If you enter 1000 and then hit the +|- key, you will get a negative 1,000 amount showing in the calculator display.

An important feature of most financial calculators is that it is possible to change any of the variables in a problem without needing to reenter all of the other data. For example, suppose that we wanted to find out the future value in our bank account if we left the money from our previous example invested for 20 years instead of 4. Before clearing any of the data, simply enter 20 for N and then press the CPT key and then the FV key. After this is done, all other inputs will remain the same, and you will arrive at an answer of $1,806.11.

## Think It Through

How to determine future value when other variables are known.

Here’s an example of using a financial calculator to solve a common time value of money problem. You have $2,000 invested in a money market account that is expected to earn 4% annually. What will be the total value in the account after five years?

Follow the recommended financial calculator steps in Table 7.4 .

The result of this future value calculation of the invested money is $2,433.31.

## Example 2: Present Value of Lump Sums

Solving for the present value (discounted value) of a lump sum is the exact opposite of solving for a future value. Once again, if we enter a negative value for the FV, then the calculated PV will be a positive amount.

Taking the reverse of what we did in our example of future value above, we can enter -1,125.51 for FV , 3 for I/Y , and 4 for N . Hit the CPT and PV keys in succession, and you should arrive at a displayed answer of 1,000.

An important constant within the time value of money framework is that the present value will always be less than the future value unless the interest rate is negative. It is important to keep this in mind because it can help you spot incorrect answers that may arise from errors with your input.

## How to Determine Present Value When Other Variables Are Known

Here is another example of using a financial calculator to solve a common time value of money problem. You have just won a second-prize lottery jackpot that will pay a single total lump sum of $50,000 five years from now. How much value would this have in today’s dollars, assuming a 5% interest rate?

Follow the recommended financial calculator steps in Table 7.5 .

The present value of the lottery jackpot is $39,176.31.

## Example 3: Calculating the Number of Periods

There will be times when you will know both the value of the money you have now and how much money you will need to have at some unknown point in the future. If you also know the interest rate your money will be earning for the foreseeable future, then you can solve for N, or the exact amount of time periods that it will take for the present value of your money to grow into the future value that you will require for your eventual use.

Now, suppose that you have $100 today and you would like to know how long it will take for you to be able to purchase a product that costs $133.82.

After making sure your calculator is clear, you will enter 5 for I/Y , -100 for PV , and 133.82 for FV . Now press CPT N , and you will see that it will take 5.97 years for your money to grow to the desired amount of $133.82.

Again, an important thing to note when using a financial calculator to solve TVM problems is that you must enter your numbers according to the cash flow sign convention discussed above. If you do not make either the PV or the FV a negative number (with the other being a positive number), then you will end up getting an error message on the screen instead of the answer to the problem. The reason for this is that if both numbers you enter for the PV and FV are positive, the calculator will operate under the assumption that you are receiving a financial benefit without making any cash outlay as an initial investment. If you get such an error message in your calculations, you can simply press the CE/C key. This will clear the error, and you can reenter your data correctly by changing the sign of either PV or FV (but not both of these, of course).

## Determining Periods of Time

Here is an additional example of using a financial calculator to solve a common time value of money problem. You want to be able to contribute $25,000 to your child’s first year of college tuition and related expenses. You currently have $15,000 in a tuition savings account that is earning 6% interest every year. How long will it take for this account grow into the targeted amount of $25,000, assuming no additional deposits or withdrawals will be made?

Table 7.6 shows the steps you will take.

The result of this calculation is a time period of 8.7667 years for the account to reach the targeted amount.

## Example 4: Solving for the Interest Rate

Solving for an interest rate is a common TVM problem that can be easily addressed with a financial calculator. Let’s return to our earlier example, but in this case, we know that we have $1,000 at the present time and that we will need to have a total of $1,125.51 four years from now. Let’s also say that the only way we can add to the current value of our savings is through interest income. We will not be able to make any further deposits in addition to our initial $1,000 account balance.

What interest rate should we be sure to get on our savings account in order to have a total savings account value of $1,125.51 four years from now?

Once again, clear the calculator, and then enter 4 for N , -1,000 for PV , and 1,125.51 for FV . Then, press the CPT and I/Y keys and you will find that you need to earn an average 3% interest per year in order to grow your savings balance to the desired amount of $1,125.51. Again, if you end up with an error message, you probably failed to follow the sign convention relating to cash inflow and outflow that we discussed earlier. To correct this, you will need to clear the calculator and reenter the information correctly.

After you believe you are done and have arrived at a final answer, always make sure you give it a quick review. You can ask yourself questions such as “Does this make any sense?” “How does this compare to other answers I have arrived at?” or “Is this logical based on everything I know about the scenario?” Knowing how to go about such a review will require you to understand the concepts you are attempting to apply and what you are trying to make the calculator do. Further, it is critical to understand the relationships among the different inputs and variables of the problem. If you do not fully understand these relationships, you may end up with an incorrect answer. In the end, it is important to realize that any calculator is simply a tool. It will only do what you direct it to do and has no idea what your objective is or what it is that you really wish to accomplish.

## Determining Interest or Growth Rate

Here is another example of using a financial calculator to solve a common time value of money problem. Let’s use a similar example to the one we used when calculating periods of time to determine an interest or growth rate. You still want to help your child with their first year of college tuition and related expenses. You also still have a starting amount of $15,000, but you have not yet decided on a savings plan to use.

Instead, the information you now have is that your child is just under 10 years old and will begin college at age 18. For simplicity’s sake, let’s say that you have eight and a half years before you will need to meet your total savings target of $25,000. What rate of interest will you need to grow your saved money from $15,000 to $25,000 in this time period, again with no other deposits or withdrawals?

Follow the steps shown in Table 7.7 .

The result of this calculation is a necessary interest rate of 6.194%.

## Using Excel to Solve TVM Problems

Excel spreadsheets can be excellent tools to use when solving time value of money problems. There are dozens of financial functions available in Excel, but a student who can use a few of these functions can solve almost any TVM problem. Special functions that relate to TVM calculations are as follows:

Excel also includes a function called Payment (PMT) that is used in calculations involving multiple payments or deposits (annuities). These will be covered in Time Value of Money II: Equal Multiple Payments .

## Future Value (FV)

The Future Value function in Excel is also referred to as FV and can be used to calculate the value of a single lump sum amount carried to any point in the future. The FV function syntax is similar to that of the other four basic time-value functions and has the following inputs (referred to as arguments), similar to the functions listed above:

Lump sum problems do not involve payments, so the value of Pmt in such calculations is 0. Another argument, Type, refers to the timing of a payment and carries a default value of the end of the period, which is the most common timing (as opposed to the beginning of a period). This may be ignored in our current example, which means the default value of the end of the period will be used.

The spreadsheet in Figure 7.3 shows two examples of using the FV function in Excel to calculate the future value of $100 in five years at 5% interest.

In cell E1, the FV function references the values in cells B1 through B4 for each of the arguments. When a user begins to type a function into a spreadsheet, Excel provides helpful information in the form of on-screen tips showing the argument inputs that are required to complete the function. In our spreadsheet example, as the FV formula is being typed into cell E2, a banner showing the arguments necessary to complete the function appears directly below, hovering over cell E3.

Cells E1 and E2 show how the FV function appears in the spreadsheet as it is typed in with the required arguments. Cell E4 shows the calculated answer for cell E1 after hitting the enter key. Once the enter key is pressed, the hint banner hovering over cell E3 will disappear. The second example of the FV function in our example spreadsheet is in cell E6. Here, the actual numerical values are used in the FV function equation rather than cell references. The method in cell E8 is referred to as hard coding . In general, it is preferable to use the cell reference method, as this allows for copying formulas and provides the user with increased flexibility in accounting for changes to input data. This ability to accept cell references in formulas is one of the greatest strengths of Excel as a spreadsheet tool.

Download the spreadsheet file containing key Chapter 7 Excel exhibits.

Determining Future Value When Other Variables Are Known . You have $2,000 invested in a money market account that is expected to earn 4% annually. What will be the total value in the account in five years?

Note: Be sure to follow the sign conventions. In this case, the PV should be entered as a negative value.

Note: In Excel, interest and growth rates must be entered as percentages, not as whole integers. So, 4 percent must be entered as 4% or 0.04—not 4, as you would enter in a financial calculator.

Note: It is always assumed that if not specifically stated, the compounding period of any given interest rate is annual, or based on years.

Note: The Excel command used to calculate future value is as follows:

You may simply type the values for the arguments in the above formula. Another option is to use the Excel insert function option. If you decide on this second method, below are several screenshots of dialog boxes you will encounter and will be required to complete.

This dialog box allows you to either search for a function or select a function that has been used recently. In this example, you can search for FV by typing this in the search box and selecting Go, or you can simply choose FV from the list of most recently used functions (as shown here with the highlighted FV option).

Figure 7.6 shows the completed data input for the variables, referred to here as “function arguments.” Note that cell addresses are used in this example. This allows the spreadsheet to still be useful if you decide to change any of the variables. You may also type values directly into the Function Arguments dialog box, but if you do this and you have to change any of your inputs later, you will have to reenter the new information. Using cell addresses is always a preferable method of entering the function argument data.

Additional notes:

- The Pmt argument or variable can be ignored in this instance, or you can enter a placeholder value of zero. This example shows a blank or ignored entry, but either option may be used in problems such as this where the information is not relevant.
- The Type argument does not apply to this problem. Type refers to the timing of cash flows and is usually used in multiple payment or annuity problems to indicate whether payments or deposits are made at the beginning of periods or at the end. In single lump sum problems, this is not relevant information, and the Type argument box is left empty.
- When you use cell addresses as function argument inputs, the numerical values within the cells are displayed off to the right. This helps you ensure that you are identifying the correct cells in your function. The final answer generated by the function is also displayed for your preliminary review.

Once you are satisfied with the result, hit the OK button, and the dialog box will disappear, with only the final numerical result appearing in the cell where you have set up the function.

The FV of this present value has been calculated as approximately $2,433.31.

## Present Value (PV)

We have covered the idea that present value is the opposite of future value. As an example, in the spreadsheet shown in Figure 7.3 , we calculated that the future value of $100 five years from now at a 5% interest rate would be $127.63. By reversing this process, we can safely state that $127.63 received five years from now with a 5% interest (or discount) rate would have a value of just $100 today. Thus, $100 is its present value. In Excel, the PV function is used to determine present value (see Figure 7.7 ).

The formula in cell E1 uses cell references in a similar fashion to our FV example spreadsheet above. Also similar to our earlier example is the hard-coded formula for this calculation, which is shown in cell E6. In both cases, the answers we arrive at using the PV function are identical, but once again, using cell references is preferred over hard coding if possible.

## Determining Present Value When Other Variables Are Known

You have just won a second-prize lottery jackpot that will pay a single total lump sum of $50,000 five years from now. You are interested in knowing how much value this would have in today’s dollars, assuming a 5% interest rate.

- If you wish for the present value amount to be positive, the future value you enter here should be a negative value.
- In Excel, interest and growth rates must be entered as percentages, not as whole integers. So, 5 percent must be entered as 5% or 0.05—not 5, as you would enter in a financial calculator.
- It is always assumed that if not specifically stated, the compounding period of any given interest rate is annual, or based on years.
- The Excel command used to calculate present value is as shown here:

As with the FV formula covered in the first tab of this workbook, you may simply type the values for the arguments in the above formula. Another option is to again use the Insert Function option in Excel. Figure 7.8 , Figure 7.9 , and Figure 7.10 provide several screenshots that demonstrate the steps you’ll need to follow if you decide to enter the PV function from the Insert Function menu.

As discussed in the FV function example above, this dialog box allows you to either search for a function or select a function that has been used recently. In this example, you can search for PV by typing this into the search box and selecting Go, or you can simply choose PV from the list of the most recently used functions.

Figure 7.10 shows the completed data input for the function arguments. Note that once again, cell addresses are used in this example. This allows the spreadsheet to still be useful if you decide to change any of the variables. As in the FV function example, you may also type values directly in the Function Arguments dialog box, but if you do this and you have to change any of your input later, you will have to reenter the new information. Remember that using cell addresses is always a preferable method of entering the function argument data.

Again, similar to our FV function example, the Function Arguments dialog box shows values off to the right of the data entry area, including our final answer. The Pmt and Type boxes are again not relevant to this single lump sum example, for reasons we covered in the FV example.

Review your answer. Once you are satisfied with the result, click the OK button, and the dialog box will disappear, with only the final numerical result appearing in the cell where you have set up the function. The PV of this future value has been calculated as approximately $39,176.31.

## Periods of Time

The following discussion will show you how to use Excel to determine the amount of time a given present value will need to grow into a specified future value when the interest or growth rate is known.

You want to be able to contribute $25,000 to your child’s first year of college tuition and related expenses. You currently have $15,000 in a tuition savings account that is earning 6% interest every year. How long will it take for this account grow into the targeted amount of $25,000, assuming no additional deposits or withdrawals are made?

- As with our other examples, interest and growth rates must be entered as percentages, not as whole integers. So, 6 percent must be entered as 6% or 0.06—not 6, as you would enter in a financial calculator.
- The present value needs to be entered as a negative value in accordance with the sign convention covered earlier.
- The Excel command used to calculate the amount of time, or number of periods, is this:

As with our FV and PV examples, you may simply type the values of the arguments in the above formula, or we can again use the Insert Function option in Excel. If you do so, you will need to work with the various dialog boxes after you select Insert Function.

As discussed in our previous examples on FV and PV, this menu allows you to either search for a function or select a function that has been used recently. In this example, you can search for NPER by typing this into the search box and selecting Go, or you can simply choose NPER from the list of most recently used functions.

- Once you have highlighted NPER, click the OK button, and a new dialog box will appear for you to enter the necessary details. As in our previous examples, it will look like Figure 7.12 .

Figure 7.13 shows the completed Function Arguments dialog box. Note that once again, we are using cell addresses in this example.

As in the previous function examples, values are shown off to the right of the data input area, and our final answer of approximately 8.77 is displayed at the bottom. Also, once again, the Pmt and Type boxes are not relevant to this single lump sum example.

Review your answer, and once you are satisfied with the result, click the OK button. The dialog box will disappear, with only the final numerical result appearing in the cell where you have set up the function.

The amount of time required for the desired growth to occur is calculated as approximately 8.77 years.

## Interest or Growth Rate

You can also use Excel to determine the required growth rate when the present value, future value, and total number of required periods are known.

Let’s discuss a similar example to the one we used to calculate periods of time. You still want to help your child with their first year of college tuition and related expenses, and you still have a starting amount of $15,000, but you have not yet decided which savings plan to use.

Instead, the information you now have is that your child is just under 10 years old and will begin college at age 18. For simplicity’s sake, let’s say that you have eight and a half years until you will need to meet your total savings target of $25,000. What rate of interest will you need to grow your saved money from $15,000 to $25,000 in this time, again with no other deposits or withdrawals?

Note: The present value needs to be entered as a negative value.

Note: The Excel command used to calculate interest or growth rate is as follows:

As with our other TVM function examples, you may simply type the values for the arguments into the above formula. We also again have the same alternative to use the Insert Function option in Excel. If you choose this option, you will again see the Insert Function dialog box after you click the Insert Function button.

Once we complete the input, again using cell addresses for the required argument values, we will see what is shown in Figure 7.16 .

As in our other examples, cell values are shown as numerical values off to the right, and our answer of approximately 0.0619, or 6.19%, is shown at the bottom of the dialog box.

This answer also can be checked from a logic point of view because of the similar example we worked through when calculating periods of time. Our present value and future value are the same as in that example, and our time period is now 8.5 years, which is just under the result we arrived at (8.77 years) in the periods example.

So, if we are now working with a slightly shorter time frame for the savings to grow from $15,000 into $25,000, then we would expect to have a slightly greater growth rate. That is exactly how the answer turns out, as the calculated required interest rate of approximately 6.19% is just slightly greater than the growth rate of 6% used in the previous example. So, based on this, it looks like our answer here passes a simple “sanity check” review.

- 1 The specific financial calculator in these examples is the Texas Instruments BA II Plus™ Professional model, but you can use other financial calculators for these types of calculations.

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## Money word problems

Here you will learn about money word problems, including the values of the coins in our money system and solving a variety of money word problems.

Students will first learn about money word problems as part of measurement and data in 2nd grade and continue to build on this knowledge as they learn how to operate with decimals as a part of numbers and operations in base 10 in 5th grade.

## What are money word problems?

Money word problems use US money in cents (¢) and dollars (\$).

To solve money word problems, you need to know the names and values of the coins and bills in our money system.

There are also bills for different dollar amounts. The first four bills are…

For example,

Solving in cents \textbf{(¢)} :

Jesse has 4 pennies, 3 nickels and 2 dimes. How many cents does Jesse have in total?

4 pennies = 4¢

3 nickels = 15¢

2 dimes = 20¢

So Jesse has 39¢.

Solving in dollars \bf{(\$)} :

A pair of shoes costs \$22.45. Joe buys 3 pairs of them, how much will the 3 pairs cost?

= 66 wholes, 12 tenths, and 15 hundredths.

The 3 pairs cost \$67.35.

## Common Core State Standards

How does this relate to 2nd grade math and 5th grade math?

- Grade 2 – Measurement and Data (2.MD.C.8) Solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using \$ and ¢ symbols appropriately. Example: If you have 2 dimes and 3 pennies, how many cents do you have?
- Grade 5 – Numbers and Operations in Base 10 (5.NBT.B.7) Add, subtract, multiply, and divide decimals to hundredths, using concrete models or drawings and strategies based on place value, properties of operations, and/or the relationship between addition and subtraction; relate the strategy to a written method and explain the reasoning used.

## How to solve money word problems

In order to solve money word problems in cents:

Recall the value of each coin.

Find the total for each type of coin.

Add all total coin values.

Write a sentence answering the money word problem question.

In order to solve money word problems in dollars:

Read the question carefully and decide which operation(s) to use.

Use what you know about decimals to solve.

## [FREE] Arithmetic Check for Understanding Quiz (Grade 4 to 6)

Use this quiz to check your grade 4 to 6 students’ understanding of arithmetic. 10+ questions with answers covering a range of 4th, 5th and 6th grade arithmetic topics to identify areas of strength and support!

## Money word problems examples

Example 1: whole number word problem – adding coins.

Mark has 12 pennies and 5 nickels. How many cents does he have?

Each penny is 1¢. Each nickel is 5¢.

2 Find the total for each type of coin.

12 pennies = 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 = 12¢

5 nickels = 5 + 5 + 5 + 5 + 5 = 25¢

3 Add all total coin values.

4 Write a sentence answering the money word problem question.

Mark has 37¢.

## Example 2: whole number word problem – adding coins

A pencil costs 3 dimes and 2 quarters. How many cents does the fancy pencil cost?

Each dime is 10¢. Each quarter is 25¢.

3 dimes = 10 + 10 + 10 = 30¢

2 quarters = 25 + 25 = 50¢

A fancy pencil costs 80¢.

## Example 3: whole number word problem – subtracting coins

Kia has 3 quarters. A piece of gum costs 6 nickels. If Kia buys one piece of gum, how many cents will she have left?

Each nickel is 5¢. Each quarter is 25¢.

6 nickels = 5 + 5 + 5 + 5 + 5 + 5 = 30¢

3 quarters = 25 + 25 + 25 = 75¢

Kia will have 45¢ after buying one piece of gum.

## Example 4: decimal word problem – one step addition

Hank buys a bottle of water for \$1.95 and a sandwich for \$4.56. How much did he pay in total?

You need to add to find the total of the water and the sandwich together.

One way to solve with decimals is to use what you know about fraction addition.

1.95=1 \cfrac{95}{100} \quad and \quad 4.56=4 \cfrac{56}{100}

\begin{aligned} & 1 \cfrac{95}{100}+4 \cfrac{56}{100} \\\\ & = 5+\cfrac{151}{100} \\\\ & = 5+\cfrac{100}{100}+\cfrac{51}{100} \\\\ & = 5+1+\cfrac{51}{100} \\\\ & = 6 \cfrac{51}{100} \\\\ & = 6.51 \end{aligned}

Hank paid \$6.51 for the bottle of water and sandwich.

## Example 5: decimal word problem – one step division

Two boxes of markers cost \$8.28. If each box costs the same, how much does one box of markers cost?

You need to take the total cost and divide it between the two boxes.

One way to solve with decimals is by breaking up the decimal into each place value.

8.28 \div 2=(8+0.2+0.08) \div 2=

0.2 \div 2=0.1

0.08 \div 2=0.04

Add the partial quotients:

4 + 0.1 + 0.04 = 4.14

Each box of markers cost \$4.14.

## Example 6: decimal word problem – one step multiplication

Sara is saving to buy a science kit. She saves \$11.25 each week. How much money will she have saved after 5 weeks?

You need to multiply since she saved the same amount each week.

One way to solve with decimals is by breaking up the decimal into friendly numbers.

11.25 \times 5=(11+0.25) \times 5=

11 \times 5=55

Add the partial products:

55 + 1.25 = 56.25

After 5 weeks, Sara will have saved \$56.25.

## Teaching tips for money word problems

- When first introducing 2nd graders to the money system, give them plenty of opportunities to use real life coins. This will help them memorize the value of each coin and also encourage solving by skip counting.
- Give 2nd graders experiences representing the same amount of money in different ways. For example, ask them, “How many different ways can you show 45 cents with coins?” This gives students practice memorizing the coin values and also encourages them to look for patterns.
- Solving money word problems can be difficult for students who have a lower reading comprehension. Provide visuals or phonics support to any student who may need it, so that their reading comprehension is not a barrier for this skill.
- Math worksheets, including money word problem worksheets, can be a good way for students to practice, but they should not be the only way that students learn this skill. Set up real-world scenarios in the classroom that involve solving with money, such as budgeting, to give students real life experiences connected to this skill.
- While you may introduce them separately, at some point it is necessary to combine practice with subtraction word problems and addition word problems so that students can practice figuring out which operation to use.

## Easy mistakes to make

- Use two decimals places to record money in dollars Always use two decimal places when writing the final amount of money in dollars. For example, if your answer is 3.4, write it as \$3.40, using two decimal places to represent all the money positions.

## Related lessons on arithmetic

- Calculator skills
- Skip counting
- Number sense
- Solving multi-step word problems

## Practice money word problems questions

1. There are 3 dimes, 6 pennies and 4 nickels. How many cents are there?

Each penny is 1¢. Each nickel is 5¢. Each dime is 10¢.

6 pennies = 1 + 1 + 1 + 1 + 1 + 1 = 6¢

4 nickels = 5 + 5 + 5 + 5 = 20¢

There is 56¢.

2. A bag of chips costs 75¢. Mark has 3 quarters and 17 pennies. If he buys a bag of chips, how many cents will he have left?

Each penny is 1¢. Each nickel is 25¢.

17 pennies = 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 = 17¢

Subtract to find the cents he will have left.

Mark will have 17¢ left.

3. Maryam has 5 dimes and 3 pennies. Then she finds 2 nickels. How many cents does Maryam have now?

3 pennies = 1 + 1 + 1 = 3¢

2 nickels = 5 + 5 = 10¢

5 dimes = 10 + 10 + 10 + 10 + 10 = 50¢

Maryam now has 63¢.

4. Daniel buys a new pair of headphones for \$34.99. If he pays the cashier \$50, how much change will Daniel get back?

You need to subtract to find the difference between the money he gave the cashier and the cost of the headphones.

One way to solve with decimals is to use a number line.

From 35 to 34.99 is subtracting 0.01 more, so 50-34.99 = 15.01.

Daniel will get \$15.01 back.

5. A website charges \$9.99 a month to watch tv shows and movies. How much will 4 months cost?

You need to multiply to find the total price since each month is the same price.

One way to solve with decimals is by breaking up the decimal into place values.

Then combine each place value.

Whole numbers: 36 + 3 = 39

Tenths: 0.6 + 0.3 = 0.9

Hundredths: 0.06

Four months will cost \$39.96.

6. Maria had \$13.45 saved and then she was given \$23.50 on her birthday. How much money does she have now?

You need to combine the money she has saved and the money she was given, so add the numbers.

13.45=13 \cfrac{45}{100} \quad and \quad 23.50=23 \cfrac{50}{100}

Maria has \$36.95 now.

## Money word problems FAQs

In 5th grade, students operate with decimals using their own strategies based on place value understanding and the connection to whole number and fraction operations. 6th grade is when students learn the standard algorithm for decimal operations.

Because coins have the value of 1, 5, 10, and 25, learning to operate with the coins builds student understanding of not only the operations but of patterns in our Base 10 system. When students begin to solve in dollars, they deepen their understanding of operating with decimals.

Learning how to use the money system is an important life skill. As students get older they will encounter situations like calculating the total of a bill or making change, so it is important that they have classroom experiences that promote the understanding of our money system.

## The next lessons are

- Properties of equality
- Addition and subtraction
- Multiplication and division
- Time word problems

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Each week, our tutors support thousands of students who are at risk of not meeting their grade-level expectations, and help accelerate their progress and boost their confidence.

Find out how we can help your students achieve success with our math tutoring programs .

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## Math Money Word Problems

In this lesson, students will solve math word problems using money, decimals , and fractions . These problems will include all four operations (addition, subtraction , multiplication , and division). Students will solve problems involving multiple steps (for example, students may be asked to first add, then subtract). Lastly, students will solve money problems using simple fractions.

## Learning Outcomes

On successful completion of this lesson your child will be able to:

- Solve money problems using all four operations (addition, subtraction, multiplication, and division)
- Solve multi-step problems (e.g. first multiply, then subtract)
- Solve money problems using simple fractions

Work through the warm up section below with your children and then try the worksheet before moving on to the main part of the lesson.

## Operations and Key Words in Word Problems

The chart below shows common terms for the 4 operations found in many word problems.

Below are some examples of key words in word problems.

- Jackson has 250 baseball cards and 175 football cards. How many baseball and football cards does he have in all ? (Add 250 + 175 = 425 cards).
- How many more baseball cards than football cards does Jackson have? (Subtract 250 – 175 = 75 cards).
- Mrs. Silver has 5 rows of daisies in her garden. There are 6 daisies in each row. How many total daises are in Mrs. Silver’s garden? (Multiply 6 x 5 = 30 daisies).
- Mrs. Silver also has lilies in her garden. She planted 18 daisies. She has 6 rows of daisies. How many daisies are in each row ? (Divide 18 ÷ 6 = 3 daisies in each row)

## Money, Decimals, Fraction Connections

The chart below shows you connections between money, decimals, and fractions

## Pre-assessment worksheet

Have your children try the assessment worksheet below before starting the main lesson.

- Word Problems: Money – Pre-assessment

## Main Lesson: Money Word Problems

Below are eight examples of money word problems. Work through these with your children and have them try the word problem worksheets as they go.

## Example 1 of 8: Money Word Problem With Addition

Stephanie received {$15.25} for babysitting on Friday night and {$17.75} for babysitting on Saturday night. How much did she make in total?

Help your children add money using real dollars and coins. Encourage them to count dollars and coins left over from change, that is in your wallet, or spare change in the house. Remind them that when they count money, they are adding and that coins are decimals . Coins are parts of dollars just like decimals are parts of whole numbers .

## Example 2 of 8: Money Word Problem With Subtraction

Jessica has {$25.00} to spend in the video game store. She buys a used game for {$15.83}. How much money does she have left over?

## Example 3 of 8: Money Word Problem With Multiplication

Sol wants to buy a candy bar for {$0.75}. If he buys {4} candy bars, how much total money will he spend?

- Step 1: Underline important information and { bracket} important numbers.
- Step 2: Ask: What is this question asking me to do? (Determine how much total money will Sol spend?).
- Step 3: Write a number sentence ($0.75 x 4)
- Step 4: Count the number of decimal places in 0.75. There are 2 decimal places. The 7 is in the tenths place and the 5 is in the hundredths place.
- Step 5: Multiply 75 x 4 = 300
- Step 6: Put the decimal point back into the product. 3.00
- Step 7: Write the answer. Sol will have to spend $3.00

Encourage your children to use the partial product method to multiply 75 by 4. Partial product involves multiply the 75 in expanded form (70 x 4)+(5 x 4)=300

## Example 4 of 8: Money Word Problem With Division

Rudy received {$24.75} for his birthday. He wants to split the money into groups to save for {three things}: movie tickets; art supplies; music downloads. If he wants the same amount for each activity, how much money will he put into each group?

- Step 1: Underline operation key terms and {bracket} important numbers.
- Step 2: Ask: What is this question asking me to do? (How much will Rudy put into each group?).
- Step 3: Write a number sentence ($24.75 ÷ 3)
- Step 4: Divide whole dollars first (24 ÷ 3 = 8)
- Step 5: Divide cents next (0.75 ÷ 3 = 0.25)
- Step 6: Add dollars and cents. $8 + 0.25 = $8.25
- Step 7: Write the answer. Rudy will put $8.25 in each group.

Try this Word Problems Worksheet to practice with money word problems that are similar to examples 1 to 4 above.

Remind your children that 0.75 is 3 quarters. Three quarters divided by 3 is one quarter or 0.25.

## Example 5 of 8: Multi-step Money Word Problem

Talia is at the mall with her friends. She buys a DVD for {$10.99}. Then she buys a new pair of earrings for {$8.25}. Lastly, she gets her mother a bouquet of flowers for {$9.50}. If she starts with {$50}, how much does she have after she goes shopping?

- Step 2: Ask: What is this question asking me to do? (How much will Talia have after she goes shopping?).
- Step 3: First, add the total amount that she spent ($10.99 + $8.25 + $9.50 = $28.74)
- Step 4: Then, subtract the total amount Talia spent from the amount she started with ($50.00 – $28.74 = $21.26)
- Step 5: Write the answer. Talia spent $21.26

Remind your child that a multi-step problem means that there is more than one step in solving the problem. In this case, first you add, then you subtract.

## Example 6 of 8: Multi-step Money Word Problem

Josiah is buying {5} packs of gum that cost {$1.50} each. He wants to share his gum with {two} friends. He asks his friends to pay him for their share. Including Josiah, how much does each person spend on gum?

Try this Multi-step word problems worksheet to practice with problems that are similar to examples 5 and 6 above.

Dividing decimals may present a challenge for your child. Also, in the above problem, encourage your child to make connections between the 7.50 and the 3 as “seventy-five cents” and “three.” If you divided 75 cents by 3, you would get 25 cents. Note: Your children might not be shown how perform operations with decimals until 5th Grade.

## Example 7 of 8: Money Word Problem With Fractions

Todd has {$100} saved from shoveling snow and raking leaves. If { ½ } his money came from shoveling snow, how much money did he make raking leaves?

- Step 2: Ask: What is this question asking me to do? (How much money did Todd make raking leaves?).
- Step 3: First find ½ of $100. $100 ÷ 2 = $50
- Step 4: Since half divides the $100 into two equal amounts, Todd made $50 from raking leaves and $50 from shoveling snow.
- Step 5: Write the answer. Todd made $50 shoveling snow.

## Example 8 of 8: Money Word Problem With Fractions

Spencer received {$240} a month for tutoring 4th grade students. { ¼ } of his earnings came from tutoring students in math. How much money did he make tutoring students in math?

- Step 2: Ask: What is this question asking me to do? (How much money did Spencer make tutoring math?).
- Step 3: First find ¼ of $240. Since one-fourth (¼) means to divide by 4, you are now dividing by a whole number: $240 ÷ 4 = $60.
- Step 5: Write the answer. Spencer made $60 tutoring math.

Try this Money Word Problems Worksheet to practice with problems that are similar to examples 7 and 8 above.

## Money Word Problems: Worksheets

Listed below are the 3 worksheets included in the above lesson

- Word Problems: Decimals Worksheet – with addition, subtraction, multiplication, & division
- Word Problems: Multi-step
- Word Problems: Money With Fractions

## Test Questions

Have your children try the 8 questions in the Post-assessment worksheet below. Check their answers and review this lesson with them if necessary.

- Word Problems: Money – Post-assessment (8 questions)

## Additional Theory:

Latest worksheets.

The worksheets below are the mostly recently added to the site.

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## Counting Numbers 1-100 (by ones) Kindergarten Math Worksheets

## Word Problems Involving Comparison of Numbers Kindergarten Math Worksheets

## Skip Counting by 2,3,4 and 5 Kindergarten Math Worksheet

## Decomposition of Numbers from 11-19 Using Tens and Ones Kindergarten Math Worksheets

## Representing Objects with Numbers from 0-20 Kindergarten Math Worksheets

## Comparing Objects using their Measurements Kindergarten Math Worksheets

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## Money Worksheets

Money and counting money worksheets.

Our money worksheets start with identifying coins and their values and progress through counting coins and shopping problems..

## Choose your grade / topic:

Kindergarten money worksheets, grade 1 money worksheets, grade 2 money worksheets.

Grade 3 money worksheets

Topics include:

- Matching coins to their names
- Matching coins to their values
- Identify and color different coins
- Count small numbers of coins
- Counting U.S. coins (up to 6 coins)
- Counting Canadian coins (up to 6 coins)
- Counting money (coins only) word problems
- Identifying international coins
- Counting up to 10 U.S. coins
- Counting U.S. coins and bills (up to $5)
- Counting Canadian coins including loonies and toonies
- Money in words (numbers to words)
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- Counting money (coins and bills) word problems
- Money word problems

## Grade 3 money worksheets

- Counting U.S. coins and bills
- Counting Canadian money (coins and bills)
- Shopping word problems
- Money in words

## Grade 4 money worksheets

- Word problems using money ($X.XX) notation

## Related topics

Measurement worksheets

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Sample Money Worksheet

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## Problem Solving with Money

## Problem Solving With Money Word Problems

## This is another free resource for teachers from The Curriculum Corner.

Looking to help your students learn to solve word problems with money?

This math problem solving skill can be practiced with this set of resources.

## Math Problem Solving Strategies

This is one in a series of resources to help you focus on specific problem solving strategies in the classroom.

Within this download, we are offering you a range of word problems for practice.

Each page provided contains a single problem solving word problem.

Below each story problem you will find a set of four steps for students to follow when finding the answer.

This set will focus on the draw a picture strategy for math problem solving.

## What are the 4 problem solving steps?

After carefully reading the problem, students will:

- Step 1: Circle the math words.
- Step 2: Ask yourself: Do I understand the problem?
- Step 3: Solve the problem using words and pictures below.
- Step 4: Share the answer along with explaining why the answer makes sense.

These word problems involve addition and subtraction (with and without regrouping) of money amounts.

Meets second and third grade common core standards.

Students can use coin manipulatives, money stamps, drawing pictures or using number sentences to solve various problems.

## These money word problems address the following math standards:

- Solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using $ and ¢ symbols appropriately.
- Fluently add and subtract within 100 using strategies based on place value, properties of operations, and/or the relationship between addition and subtraction.
- Add and subtract within 1000, using concrete models or drawings and strategies based on place value, properties of operations, and/or the relationship between addition and subtraction; relate the strategy to a written method. Understand that in adding or subtracting three-digit numbers, one adds or subtracts hundreds and hundreds, tens and tens, ones and ones; and sometimes it is necessary to compose or decompose tens or hundreds.
- Fluently add and subtract within 1000 using strategies and algorithms based on place value, properties of operations, and/or the relationship between addition and subtraction.

## The problems include the following selections:

- Ice Cream Truck – addition of two amounts under $1.00 with regrouping
- Pinata – addition of two amounts over $1.00 with regrouping
- Daisies – addition of two amounts over $1.00 without regrouping
- Birthday – addition of three amounts with regrouping
- Family Camping Trip – addition of three whole dollar amounts, logical reasoning
- Bike Rental – addition of three whole dollar amounts, counting by fives
- Baseball – subtraction of money amounts without regrouping
- Dollhouse – subtraction of money amounts with regrouping
- A New Dog Leash – subtaction of money amounts across zeros
- The Birthday Present – mental math addition, subtraction of money amounts across zeros

You can download these free set of money word problems here:

Problem Solving

You might also be interested in the following free resources:

- Addition & Subtraction Word Problem Strategies
- Fall Problem Solving
- Winter Problem Solving
- Spring Problem Solving
- Summer Problem Solving

As with all of our resources, The Curriculum Corner creates these for free classroom use. Our products may not be sold. You may print and copy for your personal classroom use. These are also great for home school families!

You may not modify and resell in any form. Please let us know if you have any questions.

Angela Ware

Sunday 30th of August 2015

The money word problems are great! I like how each sheet ask the student to do something as they solve the problem. Thank you for sharing!

Sunday 23rd of February 2014

I am always looking for 'one more sheet' to help with math practice. These are perfect. Thank you for your continuous efforts and talents to provide meaningful work & information. It is very much appreciated.

Monday 20th of January 2014

These money story problems are awesome! Thank you!

## Solving Problems with Money

Money makes the world go around, they say. And it truly is a very important element in our lives, although sometimes it takes on a much bigger role than it needs to.

Plenty of people believe that having more money would solve all of their problems. Most of them are likely correct that more money would make some things easier, for a time, but they often over-estimate the ability of the money alone to solve everything, forever. Others are reluctant to spend any money when it could help them greatly.

I have dealt with people from all over the wealth spectrum, and I find it interesting how those on the higher end sometimes seem as if they have more money problems than those on the lower end. Could it be that it is not the amount of money you have, but how you use it, and how you think about it?

I came across a video on Twitter last week, where a guy was going around giving $100 to homeless people, and it was incredible to watch their reactions. The guy got plenty of hugs, thanks, and “God bless you’s”, but I could not help thinking that those people were likely not much better off a few days later. I only hope that one or two of them managed to find a way to use their windfall in positive way to improve their long-term situation.

When dealing with families in business, money is often at the root of their issues, and it is not always the lack of money that stands out. Very often, problems arise around the use of money, and perceived fairness surrounding money, rather than not having enough of it.

I recently had one of my occasional brain malfunctions, when I locked the keys inside the cab of a truck that I had just rented, as I parked it in front of my office. The plan was to load up some furniture, go home and load some more stuff, and then head off on the first half of a 10-hour drive to the cottage. The extra hour or so that it would have cost me, to get a lift back to the rental company to get another key, was not in my time budget.

I called my wife and once again she had the solution: she called a cab and sent it to my office, and the cab driver used a tool that he had in his trunk to “break in” to the truck, while my partner Tom and I brought the furniture down using the elevator.

It cost me $25 and I gave him a good tip too, since he saved me from an extra hassle when I could not afford it. That’s when I said to Tom, “When money can solve a problem, then it’s not really a problem. Provided you have the money”.

I wrote down that quote, knowing it would come in handy some day, at least for a blog post.

How many problems do you think you have, that you could afford to pay someone to take care of for you, but you don’t? Instead, you continue to live with the problems, because you don’t want to spend the money?

Some people go through their lives being so frugal that they are miserable, even though they could well afford to spend some money that would actually make some of their problems go away. I have trouble understanding those people. You can’t take it with you when you die.

I do not suggest you spend every last cent, so that you become homeless, and need to depend on the kindness of strangers giving away money, but to spend a reasonable amount, to improve your quality of life, can make a huge difference in your happiness level. Can you think of some areas in your life where this might apply?

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## About Steve Legler

Steve is a proud FEA Designate (IFEA) and holds ACBFA and ACFWA certifications (FFI), in addition to having an MBA (UWO-Ivey) He is also a CFA charterholder (CFA Institute), and the author of Shift your Family Business (Friesen Press, 2014). Read more…

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## Solving Problems With a Business: Returns, Refunds, and Other Resolutions

## Go Back to the Store or Website

Write a letter, get outside help, post an online review, consider dispute resolution alternatives.

Before you go back to the store or website, learn about the company’s return policies and collect documents related to your purchase.

- Look for return policies, deadlines, customer service numbers and other important information on receipts, product packaging, warranties , or the seller’s website.
- Check deadlines. Many stores will not take returns or exchanges after a certain time, like 30 or 90 days. Promptly return your undamaged item to have the best chance of a refund, exchange, or store credit. You might have to contact the manufacturer to return a defective or damaged product after a seller’s return deadline.
- Collect key documents. Gather your receipts, warranties, canceled checks, credit card statements, invoices, contracts, or other documents. Make copies of documents to give the business and keep the originals. If you go to a store, bring any tags and original packaging you have.

Tell the business what happened. Give details about the problem, and about the resolution you want.

- Explain the problem. Is the product defective or damaged? Did you get poor service or repairs that didn’t fix the problem? Reputable businesses want to know about their customers’ problems so they can act and avoid future complaints.
- Be clear about what you want. Say if you want a full refund, an exchange, a store credit, a markdown on the item you bought, or a percentage discount on a future purchase. Explain why you want that result. Sellers are often more willing to offer a store credit than a refund. It’s less expensive for them and keeps you as a customer.
- Ask to speak with a manager. If a customer representative doesn’t offer the result you want, be calm, polite, and persistent. Ask for a manager or supervisor. A manager will likely have more flexibility and authority to resolve the issue. Explain the problem to each person you talk with and describe what you want them to do.
- Keep notes about what you did to solve the problem. List the people you talked to, the date of your conversation, and what they promised to do. If you chat online or send forms to customer service, save a copy of what you wrote, or take a picture of the screen before you exit, and note the date.

If you can’t resolve the problem by going back to the store or website, use this sample letter to write an effective complaint. When you write

Give your name, mailing address, and email address. Include your phone number too, if you want the business to contact you that way. Include your account number if you have an account with the business, and the related order or transaction number.

Give the basics. Describe the product or service you bought and important details of the transaction. Give the product’s name, its serial or model number, and the date and place you bought it or had it repaired or serviced.

Explain the problem. For example, say the product doesn’t work, you were billed incorrectly, something wasn’t disclosed clearly, or a product’s features were misrepresented.

Tell the business what you want. For example, say you want a refund, repair, exchange, or store credit.

Include copies of relevant documents , like receipts, repair orders, and warranties. Keep the originals.

Describe your next steps. Say how long you’ll wait for the business to answer. Give time for the business to act, and let it know you’ll report the matter to your state attorney general or state consumer protection office if you don’t hear by your deadline.

Make a copy of your letter to keep. Send your letter by certified mail and ask for a return receipt. If you send your complaint letter online, print the screen that shows your letter or take a screenshot of your letter before you click “submit.”

If you’re not satisfied with a business’s response to your complaint

Contact your state attorney general or state consumer protection office . These government agencies might mediate complaints, conduct investigations, and take other action against those who break consumer protection laws.

Contact a national consumer organization. Groups like Call for Action and Consumer Action try to help people with complaints.

Contact your local Better Business Bureau The Better Business Bureau is made up of organizations supported by local businesses. Local Better Business Bureaus try to resolve customer complaints.

File a report with the FTC. The FTC doesn’t resolve individual complaints, but your report helps law enforcement detect patterns and might lead to an investigation. Tell your story at ReportFraud.ftc.gov .

Visit USA.gov/complaints to get information about filing complaints about specific types of products, steps to filing a complaint with a seller or manufacturer, links to product recall information, and more.

If you can’t resolve the problem and feel the business has been unfair, write an online review. The Consumer Review Fairness Act protects your ability to share your honest opinions about a business’s products, services, or conduct, in any forum, including social media.

It’s illegal for companies to threaten or penalize you for posting honest reviews. Many companies check social media and might reply if they see you’re dissatisfied with their response to your complaint.

Many consumers and businesses use dispute resolution programs instead of going to court.

- In mediation , a neutral third party helps you and the other party try to resolve the problem. However, it's up to you and the other party to reach an agreement.
- In arbitration you and the other party might appear at hearings, present evidence, or question each other’s witnesses, although the setting is less formal than court. An arbitrator or panel makes a decision or award after you present your case. The decision might be legally binding.

Many dispute resolution programs are voluntary, so you decide whether to use them. But in some states, a court might order you to try mediation or arbitration. Some companies require you to use arbitration for disputes and give up your right to go to court. Check your contract or product packaging to see what a business requires.

Your state consumer protection office or bar association might be able to suggest alternative dispute resolution programs in your area.

Small claims courts can resolve many financial disputes. The dollar limits on claims vary by state, but some states set the limit as high as $25,000. The costs of using small claims courts is relatively low, the procedures are simple, and you usually don’t need a lawyer. Check with your local small claims court for information about how to file your lawsuit.

If all else fails, consider a lawsuit. You’ll be able to sue for damages or any other type of relief the court awards, including legal fees. A lawyer can advise you about your options.

## A self-made millionaire who studied 1,200 wealthy people found they're willing to admit an uncomfortable fact about money

Contrary to popular belief, "everyone has the same opportunity to acquire wealth," says self-made millionaire Steve Siebold , who has also studied more than 1,200 of the world's wealthiest people over the past 30 years.

In his research, he found that rich people are willing to admit something about money that makes many of us uncomfortable: It can solve most problems.

It can be uncomfortable to accept that money, rather than being the corrupting force it is often portrayed, can serve as a useful tool that creates opportunities, options, and happiness, but that's what the wealthiest people do on a daily basis — and it allows them to generate more wealth.

"If you want to start attracting money, stop seeing it as your enemy and think of it as one of your greatest allies," Siebold writes .

"It's a friend that has the power to end sleepless nights of worry and physical pain, and can even save your life ... Start telling yourself on a daily basis that money is your friend and a positive force in your life, and your mind will go to work to help you acquire more."

While average people see money as a necessary evil and let it stress them out, rich people find wealth reassuring, says Siebold : "The world class sees money as the great liberator, and with enough of it, they are able to purchase financial peace of mind."

## Watch: Meet the 26 year old jeweler making it big hawking custom bling to celebrities on Instagram

- Main content

## Free Printable Money Word Problems Worksheets for 5th Grade

Money Word Problems: Discover a vast collection of free printable worksheets tailored for Grade 5 math teachers, focusing on real-life scenarios that help students develop their problem-solving skills with money-related questions.

## Explore Money Word Problems Worksheets by Grades

- kindergarten

## Explore Other Subject Worksheets for grade 5

- Social studies
- Social emotional
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## Explore printable Money Word Problems worksheets for 5th Grade

Money Word Problems worksheets for Grade 5 are an excellent resource for teachers looking to challenge their students with real-life applications of math concepts. These worksheets provide a variety of engaging and thought-provoking problems that require students to use their understanding of addition, subtraction, multiplication, and division to solve money-related scenarios. By incorporating these Grade 5 math worksheets into their lesson plans, teachers can help students develop critical thinking and problem-solving skills while reinforcing their knowledge of basic math operations. Moreover, these Math Word Problems worksheets are designed to align with the curriculum standards, ensuring that students are well-prepared for standardized tests and future math courses.

Quizizz is an innovative platform that offers a wide range of educational resources, including Money Word Problems worksheets for Grade 5, to help teachers create engaging and interactive learning experiences for their students. In addition to high-quality Math Word Problems worksheets, Quizizz also provides teachers with access to thousands of quizzes and games that cover various subjects and grade levels. This extensive library of resources allows teachers to easily find and customize content to suit their students' needs and learning styles. Furthermore, Quizizz's real-time feedback and progress tracking features enable teachers to monitor their students' performance and identify areas where they may need additional support. By incorporating Quizizz into their teaching strategies, educators can create a dynamic and collaborative learning environment that fosters student success in Grade 5 math and beyond.

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## 40 Apps to Earn Money with Maths: Solve Math Problems to Generate Income

- July 9, 2023
- in Earn Money

Mathematics tutoring has the potential to be a highly profitable career, particularly if you possess a solid understanding of the subject and excel in effectively conveying and instructing mathematical ideas. Math experts worldwide leverage their skills to earn money by solving arithmetic questions.

## How much you can earn solving math problems online?

You can earn up to $50-100 per hour or day by solving math problems online , and you don’t need a degree to do so. All you need is a working laptop with an internet connection and your time; and of course superior mathematical brain.

If you’re interested in earn money with math, there are several platforms (apps/websites) you can consider. These platforms to earn money for maths professionals listed below can help you make money in your free time by answering math questions in your preferred categories. Once you qualify for the math experts team, you can start earning money every day.

## Here are some popular apps/websites that can help you earn money by solving math problems:

(1) Mathway: Solve math problems and access paid subscription services.

(2) Chegg Study: Provide solutions to math problems and earn money by answering user questions. Chegg India is an excellent resource for mathematics educators. You can collaborate with Chegg at your own pace without feeling pressured. There are two options for joining Chegg: as a TBS expert or as a Q&A expert. After becoming a Chegg expert, you can start responding to students’ questions and earning income through the platform.

(3) Tutor.com: Offer tutoring services in various subjects, including math, and earn money by tutoring students online.

(4) Wyzant: Connect with students seeking personalized math help, schedule sessions, and receive payments.

(5) Upwork: Offer your math problem-solving skills and find clients seeking math-related assistance. In order to apply for mathematics-related jobs, it is necessary to establish an Upwork profile and provide comprehensive details about your skills and experience. Your proposal will be successful if it resonates with the clients.

(6) Freelancer: Create a profile and bid on math problem-solving projects.

(7) Udemy: Create and sell math courses globally, covering various topics or specializing in specific areas.

(8) Teachable: Create and sell your own math courses, providing a structured learning experience for students.

(9) Your own website or blog: Advertise your expertise and offer personalized math problem-solving services, allowing potential clients to contact you. You can create your own blog on platforms such as WordPress, Wix, etc.

(10) Study.com provides a platform where you can become an online math tutor and earn money by assisting students academically.

(11) Preply connects tutors with students who are looking for math help, allowing you to use your math problem-solving skills and earn income through online tutoring sessions.

(12) Yup.com is a fantastic online tutoring platform where you can establish a steady income by teaching math to students worldwide. It is among the few user-friendly tutoring services on the internet, requiring only a moderate level of skill. Simply create an instructor profile and set your working hours. However, it’s important to note that you will need to pass a Math and Teaching exam. This site offers support for subjects such as Math, Algebra, Trigonometry, Geometry, Probability, and Calculus.

(13) School Solver is known as the “marketplace for school homework,” is a popular portal for homework and assignment assistance, endorsed by major digital platforms like Forbes, Mashable, and TechCrunch. Students post questions on a wide range of subjects, and your answers can be purchased not only by the original student but also by others who come later. This means that instead of earning $5 per hour, you have the potential to earn up to $500 over time.

(14) Growing Stars is an online tutoring company that offers opportunities for math tutors to earn money by providing personalized tutoring services to students.

(15) OneClass allows you to upload and sell your math notes, study guides, and solutions to math problems. Students can purchase your materials, providing you with a potential source of income. Each approved document you upload earns you 25 credits, which can be redeemed for gift cards to popular retailers such as Amazon, Starbucks, and Domino’s, or for cash.

## Not all math-related mobile apps offer direct opportunities to earn money, but there are some that provide rewards, prizes, or cash incentives.

Here are a mobile apps for maths experts to earn extra income:

(16) Math Cash App: With the Math Cash mobile app, you have the opportunity to earn money not only through arithmetic challenges but also by solving crossword puzzles, Sudoku, and participating in the mystery number challenge. The game operates in a fascinating manner, allowing you to compete with other players in mathematical expressions to win cash prizes. The questions primarily involve addition, subtraction, division, and combination problems, serving as a great way to improve your mental arithmetic skills. By swiftly solving the equations, you can outperform your opponents and easily convert your points into cash at any time.

(17) Photomath: A popular math app that allows users to take photos of math problems and provides step-by-step solutions. While it doesn’t offer direct earnings, it can be helpful for students or tutors looking to solve math problems efficiently.

(18) Qmee: This survey app occasionally includes math-related surveys. By completing these surveys, users can earn cash rewards.

(19) Cash Show : Win Real Cash!: A trivia app that includes math-related questions. Players have the chance to win cash prizes by correctly answering a series of trivia questions, including math-related ones.

(20) Quick Math: An educational app that helps users improve their math skills through various exercises and games. While it doesn’t directly provide opportunities to earn money, it can be a valuable tool for learning and practicing math concepts.

## There are some platforms that offer opportunities to monetize your math skills:

(21) Brilliant.org: Brilliant provides interactive courses and problem-solving challenges covering various math topics. They have a program called “Brilliant Affiliate Program” that enables you to earn commissions by referring users to their premium subscriptions.

(22) YouTube: Although not an app itself, creating a YouTube channel focused on math tutorials, problem-solving, or educational content can potentially generate income through ad revenue, sponsorships, or viewer donations.

(23) Patreon: Patreon is a platform where content creators can offer exclusive content and membership tiers to their fans. If you create math-related content, you can offer additional resources or personalized assistance to patrons who support you through monthly subscriptions.

(24) Mathway: While Mathway itself does not provide earning opportunities, you can create content on platforms like YouTube or a blog that demonstrates how to effectively use Mathway for problem-solving. By monetizing your content, you can indirectly earn income through ad revenue or sponsorships.

(25) Toppr is a platform where students can post their doubts and get answers from math experts via messaging. Students pay for the answers they receive, making it possible to earn money while solving problems.

(26) JustAnswer.com is a reputable website where individuals can post their questions, and experts provide detailed answers. People can purchase the answers, and the experts receive payment. This platform is not a scam and a great opportunity for experts to apply.

(27) Photostudy is a platform where students can take a photo of their doubts and post them on the website, and experts will solve them. Anyone can apply to become an expert, and the platform also offers online science subjects. This is another great opportunity for individuals seeking to make money through answering questions.

(28) StudyPool is an online platform that allows students to seek answers to their questions from tutors. By offering answers to student queries, you have the opportunity to earn income.

(29) Bartleby: The application process may be slow, but once approved, you will have access to a large number of straightforward questions.

(30) 24HourAnswers is an online tutoring platform that provides an opportunity to earn money by answering questions in a wide range of subjects.

(31) Expert123 is a platform where experts can provide answers to a wide range of questions in fields such as business, health, and technology. By setting their own rates, experts can monetize their expertise effectively.

(32) PrestoExperts , on the other hand, focuses on providing virtual tutoring and consulting services. As a tutor or consultant, you can offer your expertise in specific subjects or fields and earn income by addressing related inquiries.

(33) Kunduz tutor app: Round-the-clock homework app designed to offer students expert assistance in math and science subjects.

(34) Doubtnut , you can receive assistance with your academic queries across multiple subjects including Mathematics via their online platform. Yet, it’s important to note that Doubtnut does not facilitate direct payment for question-solving. If you’re interested in earning an income through Doubtnut, you may consider applying for a role as a tutor or expert on their platform. As a Maths tutor on Doubtnut, you have the opportunity to earn income by providing answers and resolving doubts for students. The amount you earn is determined by factors such as the number and complexity of the questions you address, as well as the time you dedicate to the platform.

(35) PaperCoach: PaperCoach provides support to high school, undergraduate, master’s, and Ph.D. students in their academic pursuits, including coursework, book reviews, essays, dissertations, admission essays, CVs, and cover letters, among other services. PaperCoach adopts a unique approach, emphasizing explicit guarantees and on-time delivery for all projects. To ensure punctuality, it is important to monitor the progress of your document closely. Paper Coach utilizes specialized LinkedIn groups, and prospective writers can also submit their CVs for project consideration. However, applicants for writer positions must hold a Bachelor’s, Master’s, or Ph.D. degree. The minimum payment offered by Paper Coach is $8 per hour , with the potential for higher earnings based on academic level and writing complexity.

(36) HashLearn: is a mobile tutoring platform from India that connects tutors with students in grades 8 through 12, as well as those preparing for JEE, NEET, and CET, to provide homework help and instant doubt clearing. If you’ve ever encountered challenges with questions in Algebra, Integral Calculus, Trigonometry, or while tackling NEET Entrance Exam questions, HashLearn’s teachers are available to assist you. They can also help with questions from other competitive test books. After selecting your areas of expertise, you can begin accepting tutoring requests directly from your phone and receive payment for your services.

(37) Eduboard: Eduboard offers students access to experienced instructors in over 30 subjects, including math, physics, and chemistry. Students can place orders for various tasks, from homework help to essay writing, and you can bid on the ones you’re interested in. Payments are processed monthly and include a 20% commission. To apply as an online tutor on Eduboard, you must either be in your senior year of college or have graduated from an accredited university in Canada or the United States. You have the flexibility to set your fees for Q&A-based assistance, typically ranging from $2 to $25 per question.

(38) Money Games : Money Games is a website where you can play math-based games and have the chance to win monthly prizes. The games on the website cover counting, addition, subtraction, multiplication, division, and factorization.

(39) Slitherio: Slitherio is a math game that allows you to solve math problems in the format of a snake game and gives you the opportunity to win $100 by scoring points in the game. The objective of the game is to solve math questions correctly to increase your score and avoid crashing into yourself, which ends the game. Achieving a high score gives you a chance to win the $100 prize.

(40) Jump Math: Jump Math is a math game that allows you to solve math problems by jumping on the correct answers, earning points for each correct hop. By achieving a minimum score, you can enter a $100 lotto draw for a chance to win the prize.

Important Note:

Before choosing a platform to earn money by solving math problems, it’s important to research and carefully evaluate each one to ensure they align with your goals and expectations. Consider factors such as payment methods, reputation, user reviews, and any requirements or qualifications needed to participate. If there’s any platform asking for money then pay special attention and stay away from such platforms or tools.

Remember to showcase your expertise, provide accurate solutions, and actively engage with clients or students. Building a reputation for your problem-solving skills and delivering high-quality results will increase your chances of earning money through these platforms.

Hi, I am Nikesh Mehta, owner and writer of this site. I’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business. I can be reached at [email protected] .

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Coping with Financial Stress Feeling overwhelmed by money worries? Whatever your circumstances, there are ways to get through these tough economic times, ease stress and anxiety, and regain control of your finances. Link copied! Lawrence Robinson Melinda Smith, M.A.

The problem-solving process First, let's take a look at a general problem-solving process that you can apply to any situation, not just a financial one. Identify the problem. The first step in solving a problem is to identify it. What exactly do you need to overcome? Make a plan. What are the steps you need to take in order to overcome the problem?

1. Money Task Cards + Scavenger Hunt This free set of money task cards each has mostly one-step money word problems on them. You can cut them out, and do a scavenger hunt around the room to get students up and moving. OR, she has lots of other ideas for how to use them.

Money Word Problems. These money word problems worksheets engage students with real world problems and applications of math skills. The problems are grouped by addition and subtraction (appropriate for second or third grade students), or multiplication and division (appropriate for fourth or fifth grade students who have mastered decimal division), or combinations of all four operations.

What are money problems? Money problems are the name given to a range of problems which involve money. It may also be known as financial maths. We will explore different types of money problems that can be used in lots of different situations. For the purposes of these examples we will use Pound Sterling. Remember, £1 is made of 100 pence (or ...

Step #5. Track your progress. Measure your headway, celebrate your wins, and make adjustments or course corrections, as you need them. These steps aren't complicated, but they require your ...

An extremely popular method of solving TVM problems is through the use of a financial calculator. Financial calculators such as the Texas Instruments BAII Plus™ Professional will typically have five keys that represent the critical variables used in most common TVM problems: N, I/Y, PV, FV, and PMT. These represent the following:

The process for solving these problems involves a few short steps. First, read the problem. Read the whole thing. Think of it like a book. If you never finished How the Grinch Stole Christmas, you ...

Solving Money Word Problems | Strategies & Examples Lesson Transcript Author Jessica Morales View bio Instructor Dana Sparkman Learn how to solve word problems with money. Explore...

Solving money maths problems - Maths - Learning with BBC Bitesize - BBC Bitesize England Early years KS1 KS2 KS3 GCSE Functional Skills Northern Ireland Foundation Stage KS1 KS2 KS3 GCSE...

2.28 / Add and Subract Money Up to $1 2.29 / Add and Subtract Money 2.30 / Which Picture Shows More? 2.31 / Least Number of Coins 2.32 / Purchases: Do You Have Enough Money? 2.33 / How Much More to Make a Dollar?

45 pennies. 5 dimes. C. 5 dimes. Stuck? Review related articles/videos or use a hint. Report a problem. Learn for free about math, art, computer programming, economics, physics, chemistry, biology, medicine, finance, history, and more. Khan Academy is a nonprofit with the mission of providing a free, world-class education for anyone, anywhere.

Understanding how math intersects with money is at the heart of our money worksheets. While younger kids will learn the value of coins and dollar bills, older students will tackle things like how to make change and how to solve money-specific word problems.

To solve money word problems, you need to know the names and values of the coins and bills in our money system. There are also bills for different dollar amounts. The first four bills are… For example, Solving in cents \textbf { (¢)} (¢): Jesse has 4 4 pennies, 3 3 nickels and 2 2 dimes. How many cents does Jesse have in total?

Solve money problems using all four operations (addition, subtraction, multiplication, and division) Solve multi-step problems (e.g. first multiply, then subtract) Solve money problems using simple fractions Warm Up Work through the warm up section below with your children and then try the worksheet before moving on to the main part of the lesson.

Math by topic Money Money Worksheets Money and counting money worksheets Our money worksheets start with identifying coins and their values and progress through counting coins and shopping problems.. Choose your grade / topic: Kindergarten money worksheets Grade 1 money worksheets Grade 2 money worksheets Grade 3 money worksheets Topics include:

#Cybertruck had to be: 1. Low Cost (to make, and sell) 2. Function/Performance 3. Efficient 4. Safe It is all of these things and no other automaker can compete on ALL four of these -- unless they...

These money word problems address the following math standards: Solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using $ and ¢ symbols appropriately. Fluently add and subtract within 100 using strategies based on place value, properties of operations, and/or the relationship between addition and subtraction.

When dealing with families in business, money is often at the root of their issues, and it is not always the lack of money that stands out. Very often, problems arise around the use of money, and perceived fairness surrounding money, rather than not having enough of it. I recently had one of my occasional brain malfunctions, when I locked the ...

Jobs and Making Money Show/hide Jobs and Making Money menu items. Money-Making Opportunities and Investments; Jobs; Education and Training; Unwanted Calls, ... Keep notes about what you did to solve the problem. List the people you talked to, the date of your conversation, and what they promised to do. If you chat online or send forms to ...

A self-made millionaire who studied 1,200 wealthy people found they're willing to admit an uncomfortable fact about money. Money can solves most problems — and the rich aren't afraid to admit it ...

Money Word Problems: Discover a vast collection of free printable worksheets tailored for Grade 5 math teachers, focusing on real-life scenarios that help students develop their problem-solving skills with money-related questions. grade 5 Money Word Problems. Multiplication Word Problems. 15 Q. 4th - 5th.

The Corbettmaths practice questions on Money - Paying. GCSE Revision Cards. 5-a-day Workbooks

While money can solve problems, it doesn't escape the need for tight oversight, transparency and having a well thought-out plan. With my daughter, I explained how the state holds nearly $5 ...

Problem-solving skills help clients save money by finding cost-effective solutions tailored to their needs, optimizing processes to reduce waste and inefficiencies, and preventing costly mistakes ...

2 Women Helping Solve The National Pet Adoption Crisis. Feb 9, 2024, 10:10am EST. ... If it's a money problem, enhancing your financial forecasting, tightening expenditure, or seeking financial ...

You can earn up to $50-100 per hour or day by solving math problems online, and you don't need a degree to do so. All you need is a working laptop with an internet connection and your time; and of course superior mathematical brain. If you're interested in earn money with math, there are several platforms (apps/websites) you can consider.