🌟 Income, Expenses, Savings & Spending 🌟

Hi my responsible Grade 6 money managers! 👋

Today we learn the four important parts of money: Income (money coming in), Expenses (money going out), Savings, and Spending. Understanding these helps you make smart choices with your money!

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1. The Money Flow

Income (Money In) → Pay for Expenses (Needs & Wants) → What’s left = Savings

Good Rule: Spend less than you earn!

2. Income – Money Coming In

Income is all the money you receive.

Examples for kids:
• Allowance
• Money from chores or babysitting
• Birthday & holiday gifts
• Part-time jobs (when older)

3. Expenses – Money Going Out

Needs (Must pay)
• Food
• School supplies
• Transportation

Wants (Nice to have)
• Toys & games
• Snacks
• Entertainment

4. Savings and Spending

Simple Budget Example (Monthly Allowance $40)

Needs: $8 (school stuff)
Wants: $12 (snacks & fun)
Savings: $15 (new bike)
Giving: $5
Total: $40

5. Let’s Practice Together! 💰

Question 1

You get $35 allowance. You spend $10 on snacks and $15 on a game. How much can you save?

$35 - $10 - $15 = $10 saved ⭐

Question 2

Sarah gets $50. She needs $20 for bus tickets and wants to save $15. How much can she spend on fun?

$50 - $20 - $15 = $15 for fun ⭐

Question 3

Why is saving part of your money important?

To reach big goals, have money for emergencies, and build good habits ⭐

6. In Real Canadian Life 🇨🇦

• Planning allowance or part-time job money
• Families making monthly budgets
• Saving for university, phone, or trips
• Tracking expenses with apps

You are now a Smart Money Manager! 🌟

Excellent work! You understand income, expenses, savings, and spending.

Start practicing by tracking your own money this week — you’ll feel very proud!

Love and proud high-fives,
Mrs. Brenda ❤️

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