Saving Money Word Problems

Name:

Date:

💰 Part 1: Saving Goals

1. Maya wants to buy a $25 backpack for school. She saved $8 in January, $6 in February, and $7 in March. How much more money does she need to save?

Write your equation: _________________________________

Answer: Maya needs to save $_______ more.

2. Carlos is saving for a $40 skateboard. He has $23 saved already. His mom gives him $5 for helping with chores, and he earns $8 from his allowance. Does he have enough money now?

Write your equation: _________________________________

Answer: ____________________________________________

3. Emma saved $15 for a class field trip that costs $32. She earned $9 babysitting and $6 from selling old toys. How much money does she have in total?

Write your equation: _________________________________

Answer: Emma has $_______ in total.

🛍️ Part 2: Earnings and Spending

4. Jake earned $18 washing cars and $12 walking dogs. He spent $7 on lunch and $5 on a comic book. How much money does he have left?

Write your equation: _________________________________

Answer: Jake has $_______ left.

5. Sophia started with $20 in her piggy bank. She earned $15 from her allowance over three weeks. Then she bought a $8 book and spent $11 on art supplies. How much money is in her piggy bank now?

Write your equation: _________________________________

Answer: Sophia has $_______ in her piggy bank.

🎯 Part 3: Problem Solving & Reasoning

6. Alex wants to save $50 for a video game. He saves $7 each week from his allowance. After 4 weeks, he buys a $9 snack and a $6 toy. How much more does he need to reach his goal?

Write your equation: _________________________________

Answer: Alex needs $_______ more.

7. Choose the best strategy for this problem: "Mia saved $16, earned $9 more, spent $8, then earned $4. How much does she have?"

Add all the numbers together

Add what she saved and earned, then subtract what she spent

Subtract the spending from the first amount saved

8. Explain your thinking: How do you know when to add or subtract in a money word problem?