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Features

  • Every lesson of the unit, in the same kinds of question as the test
  • Name sales, income and property taxes, and find sales tax and the total
  • Find gross pay and net pay, and a missing gross income
  • Pick the way to pay that fits, and tell advantages from disadvantages
  • Keep a register with a running balance, and find a new balance
  • Find how much expenses are over income and what helps, then balance a budget
  • Answer keys name the lesson and skill of every question

Skills Covered

  • Name income, payroll, sales and property taxes
  • Find sales tax and the total
  • Find gross pay and net pay
  • Find a missing gross income
  • Pick the way to pay that fits a need
  • Tell advantages from disadvantages of ways to pay
  • Keep a register with a running balance
  • Find a new balance after deposits and payments
  • Find how much expenses are over income
  • Choose what helps when expenses are too high
  • Find the savings that balance a budget
  • Choose the change that balances a budget

How to Use This Pack

Two pages that go over the whole 5th grade money and financial literacy unit, to do together the day before the test. Its 12 questions are the same kinds as the test's, in the same order, with other money and stories: two for each lesson. There is no Score line: it is practice, not a grade. People, families and amounts are made up. No question asks a problem from the unit's exit tickets or the practice sheets. The pre-check and the unit test are packs of their own.

In the Classroom

Do the review together the day before the test. Work a question, then let students try the next one on their own, and stop on any that trip up more than a few. If your class learned the lessons at different times of the year, do the questions for the lessons it was taught. The keys name each question's lesson, so a question the class misses points to the lesson to go back to.

At Home

Use the review as practice before a test at school. Make a simple monthly budget for a pretend family together, and decide what to change if the expenses come to more than the income.

Tips for Success

  • Sales tax at 4 cents for every $1 on a $25 item is 25 times 4 cents, or $1
  • Net pay is gross pay minus taxes and other amounts taken out
  • A deposit adds to the balance and a payment subtracts from it
  • A budget is balanced when expenses are not more than income
  • Go back to the lesson the key names for a question the class misses

5th Grade Money and Financial Literacy Unit Review

5th Grade

A review of the unit on taxes, income, ways to pay, records and budgets, to go over together the day before the test. Students name kinds of taxes, work out sales tax, gross and net pay and running balances, weigh ways to pay, and balance budgets.

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What’s Included

  • A two-page review of every lesson in the unit (12 questions)
  • Answer keys that name each question's lesson and skill (4 pages in all)
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This worksheet is free to download, print, copy, and hand out in your classroom or at home. You do not need to create an account, and there are no watermarks on the PDF.