F. Financial Literacy · Counting Money to $200

Solving Money Problems

F1.1 A1About 40 minutes

Learning goals

I can find out if I have enough money to buy something.
I can find two different ways to pay for something exactly.
I can compare two amounts of money.
I can explain my thinking and keep trying when a problem is tricky.

Words to know

price
How much something costs.

enough
As much as you need, or more. If a book costs $10 and you have $12, you have enough.

pay exactly
To give the same amount as the price, not more and not less.

save
To keep money so you can use it later.

compare
To look at two amounts and decide which is more, or if they are the same.

Let's get started!

Your school is having a spring fair! There are tables with snacks and a used-book and toy sale. Each thing has a price tag. You bring your own money. Can you buy what you want? How will you pay?

Today you will use everything you know about money to solve problems.

Tables outside a school with cookies and muffins on one and used books and toys on the other. — A school fair has snack tables and a used-book and toy sale. Before you buy, check: do you have enough money, and which coins will you use to pay? AI-generated image

Item	Price
Cookie	35¢
Juice box	60¢
Hot chocolate	75¢
Muffin	125¢
Chapter book	$8
Toque	$15
Puzzle	$28

Spring fair price list

Four problem-solving steps

Understand. What do I know? What do I need to find out?
Plan. What tool can help? Real coins, play money, a drawing, a number line, or a list.
Do it. Count the money carefully, starting with what is worth the most.
Look back. Does my answer make sense? Count again in a different way to check.

When a problem feels tricky

Everyone gets stuck sometimes. That is how brains grow!

Take a slow, deep breath.
Say, "I can't do it yet, but I can try another way."
Get out real coins or play money and act it out.
Draw the money and write the counting numbers under it.
Ask a question, like "Can you read the problem to me again?"

Trying again is a math skill too!

Worked example

Example 1: Do I have enough?

Zoe has 2 quarters and 3 dimes. Hot chocolate costs 75¢. Does she have enough money?

Understand: I need to count Zoe's money and compare it to 75¢.
Do it: Count the quarters: 25, 50. Count on the dimes: 60, 70, 80. Zoe has 80¢.
Compare: 80¢ is more than 75¢.
Look back: 75¢ is 3 quarters. Zoe has 2 quarters (50¢) and 3 dimes (30¢). 30¢ is more than 1 quarter, so she has more than 75¢.

Yes, Zoe has enough. She has 5¢ more than the price.

Zoe counts on: 25, 50, 60, 70, 80. Her 80¢ bar is longer than the 75¢ price bar, so she has enough, with 5¢ extra.

Worked example

Example 2: Two ways to pay

Show two ways to pay exactly 125¢ for a muffin.

Way 1: 1 loonie and 1 quarter. 100, 125.
Way 2: 5 quarters. 25, 50, 75, 100, 125.
Another way: 1 loonie, 2 dimes and 1 nickel. 100, 110, 120, 125.

1 loonie and 1 quarter, or 5 quarters (or many other ways). Each way is 125¢.

Worked example

Example 3: How much more do I need?

Owen wants a sled that costs $45. He has a $20 bill, a $10 bill and 2 toonies. Does he have enough? If not, how much more does he need?

Count Owen's money: $20, $30, then $32, $34. He has $34.
$34 is less than $45. He does not have enough.
Count up from $34 to $45 on a number line: $34 to $40 is 6. $40 to $45 is 5. 6 + 5 = 11.

Owen needs $11 more.

Count up from 34 to 45: a jump of 6 to 40, then a jump of 5 to 45. That is 11 in all.

Worked example

Example 4: Who has more?

Ava has 5 $10 bills. Liam has 1 $50 bill. Who has more money?

Ava: $10, $20, $30, $40, $50. Ava has $50.
Liam has $50.
Ava has more bills, but the value is the same.

They have the same amount: $50 each.

Just for fun

Why did the cookie go to the spring fair?

It wanted to make some dough! 🍪 (Dough is a silly nickname for money.)

Hands-on activity

Set up a home store

You need: 6 to 8 things from home (a toy, a book, a pencil, a snack), sticky notes, and real or play money.

With a grown-up, write a price tag for each thing. Use cents prices that end in 0 or 5 (like 40¢, 85¢, 150¢) for small things, and dollar prices (like $12, $45, $120) for bigger things.
Take turns being the shopkeeper and the shopper.
The shopper picks something and pays exactly. Then pays for the same thing a different way.
The shopkeeper counts the money to check.
Try a "Do I have enough?" round: the shopkeeper gives the shopper some money, and the shopper decides what they can buy.

Math talk: "How did you decide which coins or bills to use?"

Your turn

A juice box costs 60¢. Mia has 2 quarters and 1 dime. Does she have enough?

A pencil costs 45¢. Ben has 4 dimes. Does he have enough?

Show two ways to pay exactly 90¢.

A board game costs $12. Show two ways to pay exactly.

Ana has 3 quarters. Raj has 8 dimes. Who has more money?

A toque costs $15. Leo has a $10 bill and 2 toonies. Does he have enough?

How could you check your answer to the toque question?

More practice: warm-up

A sticker costs 25¢. Which one coin pays exactly?

A sticker costs 25¢. Do 2 dimes and 1 nickel pay exactly?

A ball costs $5. Which one bill pays exactly?

Which is more: 50¢ or 1 loonie?

An apple costs 50¢. How many dimes do you need?

More practice: on your own

A granola bar costs 85¢. Jo has 1 quarter, 4 dimes and 3 nickels. Does she have enough?

A puzzle costs $28. Show two ways to pay exactly.

Kit has 1 loonie, 2 quarters and 1 dime. Can he buy a muffin for 125¢?

Sara saves a toonie every week. How much has she saved after 5 weeks?

Piggy bank A has a $20 bill and 5 loonies. Piggy bank B has 2 $10 bills and 3 toonies. Which has more?

Challenge

Pay exactly 100¢ using exactly 7 coins.

A bike helmet costs $60. Nia has $35. She saves $5 each week. How many weeks until she has enough?

Eli wants a muffin (125¢) and a juice box (60¢). He has a toonie. Does he have enough?

Check your understanding

Quiz

A cookie costs 35¢. Which pays exactly?

Ruby has 3 quarters. A juice costs 80¢. Can she buy it?

A toy costs $17. Which pays exactly?

Ann has a $50 bill. Ben has 2 $20 bills. Who has more money?

A sled costs $45. You have $40. How much more do you need?

You are stuck on a money problem. What is a good thing to do?

For parents and teachers

What your child is learning: to apply what they know about representing money (F1.1) in everyday situations: deciding whether there is enough money, finding different ways to pay exactly, comparing amounts, and counting up to find how much more is needed. The lesson also practises problem-solving steps (A1) and perseverance and coping when a problem feels hard (A1, social-emotional learning skills).

Note: Making change (working out what you get back after paying with too much money) is a Grade 3 expectation. In Grade 2, children pay exactly or decide if they have enough. If your child asks about change, it is fine to explore it with real coins, but it is not expected yet.

Common mistakes:

Comparing the number of coins or bills instead of their value.
Answering "yes" when the amount is a little short. Ask them to say both numbers out loud: "You have 80¢. It costs 85¢. Which is more?"
Giving up quickly. Praise effort and strategy ("I like how you got the coins out to check"), not only correct answers.

How to help: Let your child help pay at a store with a small amount, or set up a home store. Talk about saving for something special: "If we save a toonie each week, how long until we have $10?"