Knowledge Explorer lesson
Prices, Change, and Budgets
How much change do you get back?
A price tells how much something costs. If you pay more than the price, you get change back.
To find change, find the difference: subtract the price from the amount you paid. You can also count up from the price to the amount you paid.
Example: A pencil costs 65¢. You pay with $1, which is 100¢. Count up: 65¢ + 35¢ = 100¢. Your change is 35¢.
A budget is a plan for your money. Before you buy things, add up their prices and check that the total is not more than the money you have.
What you will learn
- Add prices to find a total
- Find change by subtracting or counting up
- Make a simple spending plan (budget)
Key facts
- A price is how much something costs.
- Change = money you pay − the price.
- $1 = 100¢.
- A budget is a plan for how to spend money.