Your child can subtract decimals on a worksheet. But while shopping, they struggle to work out whether a discount is worthwhile or how much money will remain after a purchase.
This is where financial literacy makes Maths practical.
Financial literacy helps children use mathematical understanding to make informed decisions about money. It involves calculating accurately, planning ahead and explaining the reasons behind a choice.
This guide introduces money activities for Ontario Grade 6 learners, with worked examples, a sample family-outing budget and practice questions.
How Does Financial Literacy Fit Into Ontario Grade 6 Maths?
Ontario’s Grade 6 Mathematics curriculum includes Financial Literacy as Strand F. Its overall expectation focuses on developing the knowledge and skills needed to make informed financial decisions.
Financial literacy also connects with other mathematical skills, including operations with money, percentages and comparing quantities.
The activities below practise selected ideas. They are not a complete checklist of every Grade 6 curriculum expectation.
1. Understand What a Budget Does
A budget is a plan for how money will be allocated over a particular period or for an activity.
It can help answer:
- How much money is available?
- What costs must be covered?
- How much will be saved?
- What choices need adjusting?
Children can practise with fictional amounts. You do not need to share private household income or bills.
Worked Example: Planning $40
A learner has $40 available.
Planned useAmountBook$12Activity materials$8Savings$15Unallocated money$5Total$40
Check:
$12 + $8 + $15 + $5 = $40
Ask:
“If the book costs $3 more than expected, how could you adjust the plan?”
There may be several reasonable answers. The learner should explain the trade-off.
2. Distinguish Needs, Wants and Priorities
A need is something necessary in the circumstances. A want is something a person would like but may be able to delay or choose differently.
Context matters.
For example, internet access may be necessary for online lessons. A more expensive entertainment package may be optional.
Avoid assuming that every family will make the same choices.
Discussion Activity
Ask your child to consider:
- A replacement for broken school shoes.
- A second pair of shoes in a different colour.
- Materials required for a school project.
- An optional game purchase.
Then ask:
“What makes this necessary or optional in this situation?”
The aim is thoughtful reasoning rather than memorising one list.
3. Calculate a Discount
A discount reduces an original price.
Worked Example: A Backpack
A backpack costs $60 and is reduced by 20%.
Step 1: Find 10%.
$60 ÷ 10 = $6
Step 2: Find 20%.
$6 × 2 = $12
Step 3: Subtract the discount.
$60 − $12 = $48
Sale price: $48 before any applicable tax.
Common Mistake
A learner may give $12 as the sale price.
Ask:
“Did you calculate the amount saved or the amount paid?”
Both are useful, but they answer different questions.
4. Compare the Final Prices
A larger percentage discount does not automatically produce the lower price.
Worked Example
Two backpacks meet the same requirements.
BackpackOriginal priceDiscountSale priceA$8025%$60B$6010%$54
Backpack A has the larger discount, but Backpack B costs less after the discount.
Ask your child to compare the final amounts before deciding.
Also discuss quality, suitability and any additional charges. Price is one part of the decision.
5. Read the Conditions of an Offer
An offer may require buying more than the learner originally planned.
For example:
“One notebook costs $4. Buy three for $10.”
The three-pack has a lower price per notebook. But if only one notebook is needed, buying one costs less overall.
Questions to Ask
- How many items are needed?
- What is the total cost?
- What is the cost per item?
- Will the extra items be used?
- Does the purchase fit the budget?
This helps children distinguish a lower unit price from a lower total spend.
6. Plan for a Savings Goal
A savings goal connects an amount with a timetable.
Worked Example
A learner wants an item costing $75 and already has $27 saved.
Amount still needed:
$75 − $27 = $48
If they can save $8 per week:
$48 ÷ $8 = 6 weeks
Answer: Six weeks, assuming the price stays the same and the planned savings are maintained.
The example uses fictional amounts. Children do not need an allowance or paid work to practise the calculation.
7. Check Whether a Plan Fits the Budget
Worked Example
A learner has $50 available.
Their planned purchases are:
- Book: $18.50.
- Craft kit: $16.75.
- Game: $19.25.
Total:
$18.50 + $16.75 + $19.25 = $54.50
The plan exceeds the budget by:
$54.50 − $50 = $4.50
The learner must revise the plan.
Ask them to propose an alternative and explain what they would prioritise.
Family Budget Activity: Plan an Outing
Use this fictional scenario to practise adding costs and making choices.
A family has $100 available for an outing. All prices below are final amounts for this activity.
CostAmountTravel$16Entry tickets$42Lunch$24Optional souvenir$12
Questions
- What is the total cost without the souvenir?
- How much money remains without the souvenir?
- What is the total with the souvenir?
- Does either plan exceed the budget?
- The family wants to keep at least $10 unspent. Can they buy the souvenir?
- Suggest another reasonable plan and explain your choice.
Worked Answers
1. Cost without the souvenir:
$16 + $42 + $24 = $82
2. Money remaining:
$100 − $82 = $18
3. Cost with the souvenir:
$82 + $12 = $94
4. Neither plan exceeds $100.
5. They cannot buy the souvenir and keep at least $10 unspent under this plan.
$100 − $94 = $6 remaining
6. Answers vary.
They could skip the souvenir or choose a cheaper option if one is available. The answer should respect the budget and explain the decision.
Common Money Mistakes to Watch For
MistakeHelpful checkConfusing the discount with the final priceLabel “saved” and “paid” separatelyChoosing the biggest discount automaticallyCompare final pricesForgetting a planned costList all expenses before addingMisaligning decimal placesLine up dollars and cents carefullyBuying extra items only because they are on offerCompare quantity needed and total spendTreating leftover money as an errorDiscuss saving or leaving money unallocated
When a learner makes a mistake, ask them to explain the calculation before correcting it.
Free Financial Literacy Practice Questions
Unless stated otherwise, use the listed amounts as final prices.
Question 1: Remaining Money
A learner has $35 and spends $12.75.
How much remains?
Question 2: Discount
A jacket costs $90 and has a 10% discount.
Find the sale price before any applicable tax.
Question 3: Comparing Offers
A calculator costs $30 in Shop A.
Shop B lists the same calculator at $40 with 30% off.
Which shop has the lower price before any applicable tax?
Question 4: Savings Goal
A learner needs $96 and already has $36.
If they save $10 each week, how many weeks will it take to reach the goal?
Question 5: Budget Check
An activity has a budget of $70.
Planned costs are $18.50, $26.75 and $29.25.
Is the plan within budget? By how much?
Question 6: Explain Your Decision
One exercise book costs $3. Four cost $10.
A learner needs one book and has $5 available.
Which option fits the stated need and budget? Explain.
Answers
QuestionAnswer1$35 − $12.75 = $22.252Discount = $9. Sale price = $813Shop B: 30% of $40 = $12; $40 − $12 = $28, which is $2 less4$96 − $36 = $60; $60 ÷ $10 = 6 weeks5Total = $74.50, which is $4.50 over budget6One book for $3 meets the need and fits the budget. The four-pack costs more than the available $5.
How Parents Can Support Financial Literacy
Use small, manageable discussions:
- Ask your child to estimate a total.
- Compare two fictional shopping offers.
- Plan a simple activity budget.
- Discuss what changes when one cost increases.
- Ask why a choice is affordable or useful.
Keep the tone respectful. Families have different resources and priorities; the purpose is to practise reasoning without comparing households.
Ontario Grade 6 Maths Support With Glareminds
Glareminds provides one-to-one online Maths tutoring, including support for Ontario curriculum learners.
Lessons can connect calculations with practical decisions through worked examples, discussion and independent practice.
Share your child’s current topics, schoolwork and teacher feedback when making an enquiry.
A free 30–40-minute consultation and diagnostic session provides an opportunity to discuss learning needs and a suitable support plan.
Frequently Asked Questions
Is financial literacy only about calculating money?
No. It also involves planning, comparing options and explaining decisions. Accurate calculation supports those choices.
Does my child need access to real household finances?
No. Fictional budgets and prices provide useful practice without sharing private information.
Should children always choose the cheapest option?
Not automatically. Suitability, quality, quantity needed and the available budget can all matter.
Why are discounts useful for Maths practice?
They connect percentages with subtraction and require learners to distinguish the amount saved from the final price.
Where can I check the curriculum?
Visit the official Ontario Grade 6 Mathematics curriculum and discuss current classroom expectations with your child’s teacher.
Make Money Questions Meaningful
Help your child calculate accurately, identify the limits of a budget and explain their choices.
To discuss personalised Ontario Grade 6 Maths support, book a free consultation with Glareminds.
Call or WhatsApp: +2347039472179
Website: https://glareminds.com/