Money Problem Solving

Subject:

Mathematics

Learning Objective:

Students will solve addition and subtraction story problems within 100 in the context of money, demonstrating an understanding of place value and operations, accurately representing solutions using equations and mathematical reasoning.

Learning Standards:

• 2.MD.C.8: Solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using $ and ¢ symbols appropriately (within 100).
• 2.NBT.B.5: Fluently add and subtract within 100 using strategies based on place value, properties of operations, and/or the relationship between addition and subtraction.
• 2.OA.A.1: Use addition and subtraction within 100 to solve one- and two-step word problems involving situations of adding to, taking from, putting together, taking apart, and comparing, with unknowns in all positions.

Key Vocabulary:

• Addition
• Subtraction
• Dollar
• Cent
• Amount
• Total
• Difference
• Equation
• Symbol ($, ¢)
• Story problem

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Hook (Launch, Warm-Up) – 10 minutes

Activity: "Money Match-Up"

• Using a set of colorful play money (bills and coins), display several individual amounts (like $0.45, $1.25) on cards.
• Call on students one at a time to select coins or bills that match the amount shown.
• Ask students to explain their choices verbally, reinforcing the idea of money amounts and place value.
• This fun and tactile warm-up activates prior knowledge about money and number sense, grounding the lesson in context.

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Learn (Explore)

Mini-lesson (I Do) – 15 minutes

Teacher Modeling: Solving Money Story Problems

• Present a story problem on the board, e.g.:
  "Maria has $1.50. She buys a toy for 75 cents. How much money does she have left?"
• Model identifying the important information, drawing pictures of coins/dollars to represent the problem visually.
• Write a number sentence:
  $1.50 - $0.75 = ?
• Solve step-by-step, verbalizing addition/subtraction strategies based on place value (e.g., breaking apart dollars and cents).
• Highlight the use of the dollar ($) and cent (¢) symbols to write the answer properly.
• Show using equations to represent the story problem.

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Guided Practice (We Do) – 20 minutes

Activity: Partner Story Problem Creation and Solving

• Students pair up and receive 2 story problem cards (within 100 cents/dollars).
• Each partner writes an addition or subtraction story problem involving money for the other to solve.
• Partners then exchange cards, solve each other’s problems together using drawing or equations.
• Circulate to prompt thinking:
  • What operation do you use here?
  • How can you represent the problem with an equation?
  • Can you check your work by estimating?
• Use mini whiteboards for students to write their equations and show their thinking.

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Independent Practice (You Do) – 25 minutes

Activity: Money Story Problem Worksheet

• Students complete individually a set of 6 mixed addition and subtraction story problems related to shopping, saving money, or spending within 100.
• Problems are scaled in complexity, some require one-step, others two-step reasoning, e.g.:
  • “John has $2.00. He buys a sandwich for $1.25 and a drink for 50 cents. How much money does he have left?”
• Students must write the equation and show their work either with drawings or equations.
• Encourage using dollars and cents symbols correctly.

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Closing (Synthesis, Discuss) – 10 minutes

• Gather students in a circle for a share session.
• Ask 3-4 volunteers to share one story problem they solved, explaining their problem-solving steps.
• Discuss strategies: How did you decide whether to add or subtract? How did the dollar and cent symbols help?
• Recap the importance of understanding money value and operations in real-life math.

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Fluency Focus

• Quick-fire addition and subtraction facts within 100, orally and with flashcards (5 minutes at start or end of class).
• Daily practice of counting coins and dollars to build fluency connecting place value to money.

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Differentiation

• For students needing support:

  • Use visual coin manipulatives during independent work.
  • Provide partially completed story problems with sentence starters.
  • Pair with a peer tutor or adult aide for guided practice.

• For advanced students:

  • Challenge with two-step story problems that involve both addition and subtraction.
  • Introduce problems with missing addends/deductions (e.g., “Maria had ___ dollars. She bought a toy for $1.50 and now has 75 cents left. How much did she have before?”)

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Assessment

Exit Ticket:

• One addition and one subtraction money story problem to solve on a small slip of paper with equation and answer including money symbols correctly.

Teacher Observation:

• Monitor strategies used during guided and independent practices.
• Use anecdotal notes on students’ ability to write and solve equations correctly with money context.

Optional Cool Down:

• Quick game “Money Problem Bingo” with small story problem clues and amount answers.

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This lesson plan fully aligns with CCSS Math Standards 2.MD.C.8, 2.NBT.B.5, and 2.OA.A.1, ensuring students build competency in solving real-world addition and subtraction problems centered around money — a crucial life skill paired with foundational math concepts. The inclusion of visual aids, partner collaboration, and hands-on money manipulation supports varied learning styles while keeping students engaged for the full 90-minute session.