Basic Budgeting

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Answer Key & Explanations

Basic Budgeting · Grade 4 · Worksheet 3

1. Liam is saving money to buy a new bicycle that costs $189. He earns $25 each week for helping his neighbors with yard work. If he has already saved $64, how many more full weeks does he need to work to have enough money to buy the bicycle? Answer: 5 Solution: Find how much more money Liam needs by subtracting what he has saved from the bicycle cost: $189 - $64 = $125 Divide the remaining amount needed by his weekly earnings: $125 ÷ $25 = 5 Since the question asks for full weeks and 5 is already a whole number, Liam needs to work 5 more full weeks.
   Full step-by-step solution

   Step 1: Find how much more money Liam needs by subtracting what he has saved from the bicycle cost: $189 - $64 = $125 Step 2: Divide the remaining amount needed by his weekly earnings: $125 ÷ $25 = 5 Step 3: Since the question asks for full weeks and 5 is already a whole number, Liam needs to work 5 more full weeks. The answer is 5 weeks.

2. Emma is planning a birthday party and has a budget of $120. She spends $45 on decorations, $28 on party favors, and $38 on food. How much money does Emma have left in her budget after these purchases? Answer: $9 Solution: Add up all of Emma's expenses. Decorations: $45 Party favors: $28 Food: $38 Total expenses = 45 + 28 + 38 45 + 28 = 73 73 + 38 = 111 Total expenses = $111 Subtract the total expenses from the starting budget.
   Full step-by-step solution

   Step 1: Add up all of Emma's expenses. Decorations: $45 Party favors: $28 Food: $38 Total expenses = 45 + 28 + 38 45 + 28 = 73 73 + 38 = 111 Total expenses = $111 Step 2: Subtract the total expenses from the starting budget. Starting budget: $120 Money left = 120 - 111 120 - 111 = 9 Emma has $9 left in her budget.

3. Noah is planning a school fundraiser and has a budget of $250. He needs to buy supplies: $78 for craft materials, $65 for snacks, and $42 for decorations. After buying all these items, how much money will Noah have left from his budget? Answer: 65 Solution: Add up all the expenses: $78 + $65 + $42 $78 + $65 = $143 $143 + $42 = $185 Subtract total expenses from the budget: $250 - $185 $250 - $185 = $65 Noah will have $65 left from his budget.
   Full step-by-step solution

   Step 1: Add up all the expenses: $78 + $65 + $42 Step 2: $78 + $65 = $143 Step 3: $143 + $42 = $185 Step 4: Subtract total expenses from the budget: $250 - $185 Step 5: $250 - $185 = $65 Noah will have $65 left from his budget.

4. Sophia earns $26 each week from her part-time job at a local bookstore. She wants to buy a new bicycle that costs $196. If she has already saved $116, how many more full weeks does she need to work to have enough money to buy the bicycle? Answer: 4 Solution: Find how much more money Sophia needs. Bicycle cost = $196. Money already saved = $116.
   Full step-by-step solution

   Step 1: Find how much more money Sophia needs. Bicycle cost = $196. Money already saved = $116. Money needed = $196 - $116 = $80. Step 2: Calculate how many weeks are needed. Weekly earnings = $26. Weeks needed = $80 ÷ $26 = 3 weeks with $2 left over, so she needs 4 full weeks to have enough. Step 3: Check: 4 weeks × $26 = $104. $116 + $104 = $220, which is more than $196. The answer is 4 full weeks.

5. Liam is saving money to buy a new video game that costs $45. He earns $12 each week for doing chores around the house. If he has already saved $18, how many more full weeks does he need to work to have enough money to buy the game? Answer: 3 Solution: 1. First, identify how much more money Liam needs. The game costs $45 and he already has $18.
   Full step-by-step solution

   Let's go step-by-step. 1. First, identify how much more money Liam needs. The game costs $45 and he already has $18. So, the remaining amount needed is: 45 - 18 = 27 dollars. 2. He earns $12 per week. To find how many weeks are needed to earn at least $27, divide: 27 ÷ 12 = 2.25 weeks. 3. Since he must work full weeks, 2 weeks would give only: 2 × 12 = 24 dollars, which is less than $27. So 2 weeks is not enough. 4. If he works 3 weeks: 3 × 12 = 36 dollars, which is more than $27. So 3 weeks is enough. 5. Therefore, the number of full weeks he still needs to work is 3. ANSWER: 3

6. Hana earns $385 per week. She spends $127 on rent, $68 on food, and $45 on transportation. How much money does she have left after paying these expenses? Answer: 145 Solution: Add the expenses: $127 + $68 = $195. Step 2: Add the transportation cost: $195 + $45 = $240. Step 3: Subtract total expenses from income: $385 - $240 = $145.
   Full step-by-step solution

   Step 1: Add the expenses: $127 + $68 = $195. Step 2: Add the transportation cost: $195 + $45 = $240. Step 3: Subtract total expenses from income: $385 - $240 = $145. Hana has $145 left.

7. Aroha is planning a school fair and has a budget of $375. She needs to pay $115 for a bouncy castle rental, $97 for face painting supplies, and $143 for prizes. After paying for all these expenses, how much money will Aroha have left in her budget? Answer: 20 Solution: Add all the expenses together. First, add the bouncy castle rental and face painting supplies: $115 + $97 = $212. Then add the prizes: $212 + $143 = $355.
   Full step-by-step solution

   Step 1: Add all the expenses together. First, add the bouncy castle rental and face painting supplies: $115 + $97 = $212. Then add the prizes: $212 + $143 = $355. Total expenses are $355. Step 2: Subtract the total expenses from the budget: $375 - $355 = $20. Aroha will have $20 left in her budget.

8. Lily is saving money to buy a new tablet that costs $245. She earns $28 each week for tutoring her younger cousin. If she has already saved $133, how many more full weeks does she need to work to have enough money to buy the tablet? Answer: 4 Solution: Tablet cost = $245 Money already saved = $133 Money needed = $245 - $133 = $112 Weekly earnings = $28 Weeks needed = $112 ÷ $28 = 4 4 weeks × $28 = $112 $133 (saved) + $112 (earned) = $245 (tablet cost) The answer is 4 full weeks.
   Full step-by-step solution

   Step 1: Find how much more money Lily needs Tablet cost = $245 Money already saved = $133 Money needed = $245 - $133 = $112 Step 2: Calculate how many weeks are needed Weekly earnings = $28 Weeks needed = $112 ÷ $28 = 4 Step 3: Verify the calculation 4 weeks × $28 = $112 $133 (saved) + $112 (earned) = $245 (tablet cost) The answer is 4 full weeks.

9. Mason earns $480 per week. His weekly expenses are rent $175, food $95, and transportation $60. How much money does Mason have left after paying all his expenses? Answer: 150 Solution: Add all the expenses together: $175 (rent) + $95 (food) + $60 (transportation) = $330 total expenses. Subtract the total expenses from his income: $480 - $330 = $150. Mason has $150 left after paying his expenses.
   Full step-by-step solution

   Step 1: Add all the expenses together: $175 (rent) + $95 (food) + $60 (transportation) = $330 total expenses. Step 2: Subtract the total expenses from his income: $480 - $330 = $150. Mason has $150 left after paying his expenses. The answer is 150.