Money Management

Overview

In this lesson (Lesson 14 of 20) students build on prior number and place value work by exploring the relationship between dollars and cents and representing money amounts in different ways. Students will use coins and notes to perform simple transactions and record the value using $ and c notation.

Learning intentions

• Students will understand the value of common coins and notes and how dollars and cents relate.
• Students will represent the same money value in different ways using combinations of coins and notes.
• Students will perform simple transactions (addition and subtraction) using money amounts and explain their thinking.
• Students will check if their answers make sense using estimation and reasoning.

Success criteria

• I can correctly match coins/notes to their values in dollars and cents.
• I can show the same money amount using more than one combination.
• I can solve a money transaction and write the number sentence using dollars and cents.
• I can explain how I know my answer is reasonable.

Curriculum links

• Mathematics — Number (Year 3): recognising relationships between dollars and cents and representing money values in different ways.
• Mathematics — Number (Year 3): adding and subtracting using place value to partition, rearrange and regroup numbers without a calculator.

Lesson structure (60 minutes)

1. 0–5 min · Hook: “How much is it?” Teacher displays 1 coin + 1 note (e.g., 50c and $5) and asks students to turn-and-talk: “What is the total? How do you know?” Students share quick strategies.

2. 5–15 min · Direct teach: dollars and cents relationships Teacher models using a money chart and place value partitioning (e.g., $6.75 as $6 and 75c; or 6 dollars 75 cents as 6×$1 + 75×1c). Teacher emphasises that 100 cents make 1 dollar and demonstrates exchanging (e.g., 4×25c = $1). Students complete a quick “spot the equivalence” check: “Which two different sets show the same amount?”

3. 15–28 min · Guided practice: make the same amount Teacher gives each group a target amount card (e.g., $2.10, $3.25, $5.40). Students use real coins and notes (or counters with value cards) to build at least two different combinations for each target and record them as: dollars (whole) and cents (0–99). Teacher circulates, prompting: “What did you change? How is the total still the same?”

4. 28–41 min · Transactions station: addition with regrouping Teacher demonstrates one example on the board: “You have $3.50. You buy something for $1.20. What money is left?” (Subtraction within dollars/cents.) Then teacher revisits the idea of regrouping when cents go below 0 (e.g., borrow 1 dollar = 100 cents). Students rotate through two stations:

• Station A: “Buy and pay” using scenario cards; record a number sentence with $ and c.
• Station B: “Add to reach” (e.g., “Make $10 from $6.60 by adding coins.”) record the calculation.

5. 41–50 min · Whole-class check: reasoning and sense-making Teacher selects 2 student methods (different representations) and asks the class to compare. Focus questions: “Is the answer reasonable? What clues tell us? Did we handle dollars and cents correctly?” Students justify using sentences starters such as “I know because…” and “My answer makes sense since…”

6. 50–58 min · Exit ticket: one-step transaction + representation Students complete a short task:

• Part 1: Show two different ways to make $4.60 using coins/notes (draw or write).
• Part 2: Solve a subtraction transaction: “You start with $7.00 and spend $2.35. How much remains?” Write the number sentence and the final amount in $ and c.

7. 58–60 min · Close: key idea recap Teacher asks: “What relationship helped you most today: 100 cents = 1 dollar, or regrouping? Give one example.” Students respond with a sentence.

Resources

• Coin and note set (real or classroom mini-versions) for pairs/groups
• Money value cards (e.g., 5c, 10c, 20c, 50c, $1, $2, $5, etc.)
• Target amount cards and transaction scenario cards
• Money recording sheet: “$ ____ and ____ c” plus space for two combinations
• Board/paper strips model for dollars and cents (optional)
• Exit ticket sheets and pencils
• Timers for station rotations

Assessment

• Teacher observation during guided practice and stations: correct use of coin/note values and accurate regrouping between cents and dollars.
• Questioning for understanding: “How do you know these combinations are equal?” and “What happens to cents when you subtract?”
• Exit ticket analysis for misconceptions (e.g., treating cents as separate whole units rather than part of 100 cents per dollar).

Differentiation

• Support: provide sentence starters (“I made $___ by…”, “I regrouped because…”) and a partially completed example on the board; allow use of a dollars-and-cents place value strip.
• Support (SEN/EAL): reduce the number of target amounts in a group round; provide visual prompts for “100c = $1” and “borrow 1 dollar = add 100 cents.”
• Extension (for advanced learners): ask students to create the transaction story that matches a given number sentence (e.g., $8.00 − $3.75 = $4.25) and give two payment options that still cost the same amount.
• Challenge during stations: include one “no regrouping” transaction and one “regrouping required” transaction to compare strategies.