Explicit teaching — I Do (~15 min)
1. Savings goals WA6MNAF1
2. Predicting expenses
Model listing weekly expenses (snacks, transport, a magazine) and subtracting them from pocket money to see what is left to save.
3. Interest
Guided practice — We Do (~20 min)
- Plan a goal together. The class chooses a savings target and timeframe, then calculates the regular amount needed.
- Budget it. Given a weekly income and a list of expenses, work out the leftover available to save.
- Interest check. Calculate the interest on $200, $50 and $500 at 5% per year, and notice that a bigger balance earns more.
Independent practice — You Do (~15 min)
Students complete the worksheet/task:
- design a savings plan for a chosen goal (amount, timeframe, regular saving);
- given pocket money and expenses, predict how much can be saved each week;
- calculate simple yearly interest at 5% on three balances.