THE HIGHLAND NUMERACY

(MONEY) PROGRESSION

GUIDANCEThe Highland Numeracy Progression sets out a clear set of learning experiences and outcomes for Money from the Curriculum for Excellence numeracy organisers.

The purpose of this document is to provide a continuum of learning both within a level and through the Early, First and Second levels. The developmental stages of learning in numeracy are clearly documented and this will support teachers when identifying starting points for children. The progression is intended to assist teachers as they plan their mathematics curriculum.

Each level begins with a list of the Curriculum for Excellence Experiences and Outcomes which will be experienced by the pupils.

The ‘Points to Consider’ section provides detailed descriptions of key money ideas or concepts which pupils will need to know in order to achieve this level and provides clear and concise guidance for teachers.

Each level is divided into three lateral stages [*, ** and ***] to show how the learning and teaching progresses within a level. These are developmental stages and not aligned to any particular year group. Pupils will progress through these stages i.e. from * to ** and then to *** as and when they are ready and able to do so.

The progression is organised into different domains [ headings ] e.g. ‘Coin Recognition’, ‘Using Money’, ‘Notation of Money’ etc. Each mathematics lesson should include teaching and learning from between 3 and 5 domains at a time. This document should be used alongside the core Highland Numeracy Progression as both documents link inextricably. For example, when looking at addition and subtraction of money, reference should be made to the core domain on addition and subtraction contained in the Highland Numeracy Progression.

Time should be given for children to understand new ideas and concepts and have plenty of practice to deeply embed these skills and knowledge. New domains can be added once children are confident with a previous domain. TEACHERS ARE ASKED TO NOTE THAT WHILST THERE IS A LATERAL PROGRESSION FROM * TO *** THERE IS NOT A VERTICAL PROGRESSION THROUGH THE PROGRAMME UNLESS CLEARLY INDICATED BY USE OF ARROWS. (These have been colour coded to show which particular learning intentions have to be followed in a linear route before moving across to the next column). Teachers will decide when it is appropriate to introduce a new domain based on pupils’ prior learning.

The Highland Money Progression focuses on developing increasingly sophisticated and refined mathematical understanding, fluency, logical reasoning, analytical thought and problem solving skills based on international research.

Experiences and outcomes

Points to consider

High quality interaction is crucial at this level to develop children’s concepts around money. Curricular time and a range of activities should be given for children to understand new ideas and concepts and to have plenty of practice to deeply embed these skills and knowledge.

The range of coins and notes takes account of the children’s real life experiences e.g. children will be familiar with coins and notes which adults use to pay for goods/services e.g. to buy sweets at the ice-cream stall. Equally they are very familiar with the use of plastic cards and this should be reflected in their role-play.

Children should be given experiences of all coins and notes to 20 (whole pounds and pence) as and when they are ready as this links to the ‘Read/Write Numbers up to 20’ domain within the Highland Numeracy Progression.

Children should be given the opportunity to become familiar with monetary symbols in role play situations to develop an awareness of pounds and pence. These should involve pricing using whole pounds or pence but not combining the two e.g. £2.20

All activities should involve children manipulating coins, beginning

with 1p coins and then gradually developing an understanding that you can exchange 2 x 1p coins for 1 x 2p coin and the value will remain the same.

I am developing my awareness of how money is used and can recognise and use a range of coins. MNU 0-09a

Early Early

EARLY LEVEL

Highland Numeracy Progression

Early Early

The 50p coin has been included at this level to enable children to become aware of the whole range of coins available and to allow them to order with no omissions. This also encourages the recognition of the 1, 2, 5 pattern e.g. 10p, 20p, 50p.

It is important that children have experiences of using real

money in their learning. While it is up to individual schools how this is managed, one suggestion would be to use a small ‘float’ with the focus teaching group. Floats can then be checked at the end of the session as part of learning and to demonstrate a real-life skill. Another option could be to send home a money bag with each child and ask for a certain number of coins to be included. This bag will then be returned home at the end of the block of work or the end of the year.

When using money at this level, all learning should involve real-life contexts and experiences. Where possible, it is important to keep prices as realistic as possible e.g. pricing the banana in the role-play shop or selling toast at tuck shop.

Modelling (using concrete materials to represent the numbers in the sum), drawing and writing mathematical problems should be encouraged at this level e.g. when going to the shop, you buy an apple for 5p and strawberry for 2p. How much money will you need to pay for these?

Formal writing of money number sentences is introduced at First

Level.

Language – staff need to be aware of the ‘money’ language they use when speaking to pupils in everyday situations. “Take your pennies along to pay for lunch,” is not correct as pennies are 1p coins. ‘Money’ or ‘coins’ should be used but not ‘pennies’ in a situation like this.

Collections should be presented in a variety of ways e.g. 5p price tags in the role play corner may be shown in different ways to build an awareness of equivalence.

Wherever possible, addition and subtraction of coins should be taught simultaneously to reinforce the concept of the inverse operation [linking with the Addition and Subtraction domain within Early Level Numeracy Progression].

Multiplication - pupils will begin to use forward and backward number word sequences using the multiples of 2 and 5 (monetary denominations) e.g. when counting out 10p using 2p coins, slide count 2, 4, 6, 8, 10. This should begin with rhythmic counting, leading on to skip counting.

Note: Do not use money as a way of introducing this counting as the coins do not represent the amounts, just the numerals. Using money to count in 2s and 5s should only be done after the children have mastered skip counting.

2, 4, 6, 8, 10

FURTHER POINTS TO CONSIDER ARE INCLUDED AT AN APPROPRIATE POINT WITHIN THE PROGRESSION BELOW. THESE POINTS ARE ITALICISED TO DIFFERENTIATE THEM FROM PUPIL ACTIVITIES.

*

Progress will be evident when pupils can:

**

Progress will be evident when pupils can:

***

Progress will be evident when pupils can:

Coin Recognition Coin Recognition Coin Recognition

Recognise that there are different coins and notes in our monetary system through role play e.g. in the class ‘shop’, ‘entry’ to the play theatre etc

Recognise 1p, 2p, 5p (not necessarily understanding the values to the coins).

Recognise all coins and notes (1p, 2p, 5p, 10p, 20p, 50p, £1, £2, £5, £10, £20)

Talk about the differences in appearance of coins and notes, e.g. the colour, size, shape, value etc.

Sort/group/match a range of coins and notes in different ways e.g. silver and copper, round and not round, bigger and smaller (size, not value).

and

Order coins (pounds and pence) e.g. 10p is worth more than 5p.

1p, 2p, 5p 10p, 20p, 50p £1, £2

Using Money Using Money Using Money

Understand that money is used to buy items or pay for services. At this stage, it would be appropriate to discuss the use of cards as many will see their parents using cards to get the shopping, order goods online etc. The link between the card and the money in the bank is important to ensure they understand that although no money is being exchanged, they are still paying for the items.

Use the vocabulary of pounds, pence, coins, notes and change during role play.

Recognise that notes and coins are assigned to different values of money e.g. coins for less expensive items and notes/cards for more expensive items.

Use the vocabulary of money to discuss comparative costs e.g. costs more, costs less, dearer, cheaper, more expensive.

Earl Earl

Match the price tag with a coin or note e.g. use price labels stamped with different coins. Children can match to find the coins to pay for the items.

Through a variety of play situations, children can begin to exchange the correct coins or notes for an item with no combining of coins.

Use combinations of coins to buy things in real or imaginary situations within 10p or £10 (pence or whole pounds) e.g. 6p = 5p + 1p, £10 = £5 + £5.

Add and subtract amounts in money contexts using simple counting and knowledge of number structures within 10.

Notation of Money Notation of Money Notation of MoneyShow an awareness of the symbols £ and p through role play. Have an awareness of prices involving ‘p’ or ‘£’

in role play situations e.g. 5p or £5.

Recognise, name and record prices using ‘p’ and ‘£’ signs within 20.

Equivalence of Money Equivalence of Money Equivalence of MoneyBegin to have an understanding that silver coins are higher in value than bronze coins.

I can only get 1 toffee for this coin. I can get more toffees for this coin.

Understand that the number and size of coins doesn’t equate to the value e.g. 5p in 1p coins is not more than a 5p coin.

Exchange 1p, 2p and 5p coins for 10p to build up an awareness of the values assigned to coins.

makes 9p

Experiences and outcomes

Points to consider

When using money, all learning should involve real-life contexts and experiences. Where possible, it is important to keep prices realistic e.g. using sorting fruits in the role-play shop or selling toast at tuck shop.

It is important that children have an understanding of how to read

Children need to be able to keep a double count in multiplicative situations by representing each coin (e.g. by holding up fingers) and counting repetitions of that same value, simultaneously keeping track of the number of coins used e.g. How many 5p coins will you need to pay for an apple costing 20p? 5, (1) 10, (2) 15, (3) 20, (4)

Wherever possible, addition and subtraction of coins should be taught simultaneously to reinforce the concept of the inverse operation, linking with the Addition and Subtraction domain within First Level Numeracy Progression.

Children can have difficulty with 3 digit numbers with a zero in the tens column especially whilst their knowledge of place value is not wholly secure e.g. £3.05 could be confused with £3.50.

I can use money to pay for items and can work out how much change I should receive. MNU 1-09a

I have investigated how different combinations of coins and notes can be used to pay for goods or be given in change. MNU 1-09b

FIRST LEVEL

Highland Numeracy Progression

First First

FirstFirst

It is important that children have experiences of using real money in their learning. While it is up to individual schools how this is managed one suggestion would be to use a float with the focus teaching group. Floats can then be checked at the end of the session as part of learning and to demonstrate a real-life skill.

money notation written in different ways e.g. £0.87 as 87p.

All money number sentences at first level should be recorded in the child’s own choice of format or a horizontal format, not a vertical written algorithm.

1p + 2p + 2p = 5p

1p + 2p + 2p = 5p

Children need to use the strategy of starting with the highest value coin when counting a collection of money. They also need to keep track of their count.

It is important when rounding and estimating that children know that when they are paying for goods, they will always need to round up e.g. if a toy costs £5.30 they will have to pay £6 rather than £5.

Zero is used as a place holder. It indicates that there is none of a particular quantity and holds the other digits in their place. Make reference to £1 (which is 100p), 10p and 1p to explain the link with HTO in other numeracy work.

Writing number stories helps children visualise mathematical facts and integrate mathematics being learned into their own lives and experiences. When children write a number story, they are devising their own images for the numbers in an abstract number problem. These number stories can be presented in a variety of ways.

Children should also be given a picture of the solution and asked to draw, tell or act out the number story. The answer is five pounds, what’s the story? Children should share different responses from group/class.

Written number sentences which include symbols and numerals could be included once they are proficient with using models to represent their stories.

At this level it may be valuable to discuss the use of debit and credit cards to pay for goods. Children may also be aware of “cash back”. Ensure that children understand this concept i.e. the supermarket doesn’t pay you for doing your shopping!

*Progress will be evident when pupils

**Progress will be evident when pupils

***Progress will be evident when pupils

First First

can: can: can:Coin Recognition Coin Recognition Coin Recognition

Recognise all coins and notes up to £20.

See the pattern of the value of the coins/notes. 1 2 5 10 20 50

Using Money Using Money Using MoneyUse combinations of 1p, 2p, 5p, 10p, 20p coins to buy items up to a maximum of 50p e.g. an item costing 16p.

makes 16p

Use a combination of 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2 coins to buy items e.g. an item costing £3 (no £3 note!) up to a maximum of £5.

makes £3

Use a combination of coins and notes up to £10 to buy items e.g. an item costing £9.45.

makes £9.45

Look for different ways to make the same amount. Children should be regularly sharing their ideas with others. In all activities where children are making different amounts with coins stress that there is always a ‘best’ way with the fewest number of coins and encourage them to find this. When adding coins children should be encouraged to continue the count as they add coins e.g. 10p and 5p makes 15p, another 2p makes 17p and then a 1p makes a total of 18p.

Notation of Money Notation of Money Notation of MoneyRead and record money using the symbols £ and p and position these correctly when recording amounts in whole pounds or pence, e.g. £4 or 4p.

Children can use their own methods of recording - drawing the coins, making coin rubbings, coin stampers or stickers etc.

Explain that the point separates the pounds from the pence.

Read and record amounts in pounds and pence accurately using the point e.g. £4.28 not £4.28pUnderstand the value of 0 e.g. 2 pounds and five pence = £2.05 [as opposed to £2.50].Convert the different ways of notating money e.g. £2.45 is the same as two pounds and forty-five pence = 245 pence and vice versa.

Adding and Subtracting Money Adding and Subtracting Money Adding and Subtracting MoneyAdd and subtract money using simple counting and knowledge of number structures up to 20p when using pence and £20 when using £s.

E.g. 10p + 5p = 15p and £5 – £2 = £3

Add and subtract money using simple counting and knowledge of number structures (using whole numbers) up to £1 when using pence or £100 when using £s.

Add and subtract money in multiples of 10ps using simple counting and knowledge of number structures up to £10.00 using horizontal methods of recording.

Addition and subtraction questions should only cross one decade at this level.

E.g. 50p + 15p = 65p OR £50 – £12 = £38

Addition and subtraction crossing more than one decade can be done at this level.

E.g. £5.50 + £2.50 = £8.00 £10.00 - £2.50 = £7.50

Missing number problems could also be done within the range of numbers at each of the levels. Try to use real life contexts as much as possible.

E.g. Addition ** - “I am saving for a new toy and I have £26, the toy costs £40. How much more do I need to save?”E.g. Subtraction * - “I have £20 and I buy a new t-shirt. I have £5 left. How much did my t-shirt cost?”

Find the difference between amounts within 10 (using whole numbers) up to 10p or £10.

and

Find the difference between amounts within 20 (using whole numbers) up to 20p or £20.

a

Find the difference between amounts within 100 (using whole numbers in multiples of 10 and 5 only) up to 100p or £100.

and

Choose items to buy within a budget of 100 (whole numbers) up to 100p (£1) or £100.E.g. with £100, I could buy two jackets that cost £40 each but not two that cost £60 each

Choose items to buy within a budget of £10, using amounts in multiples of 10ps e.g. with £10 I could buy two monster toys at £3.50 each but not two dragon toys which are £5.50 each.

Give change from 5 and 10 (using whole numbers) up to 10p or £10.

E.g. Find the change from 10p if I spend 7p and put out coins to show this. Find the change from £5 if I spend £2 and show this with coins.

Give change from 20 and 50 (using whole numbers only) up to 50p or £50.

Give change from 50 and 100 (using whole numbers) up to 100p or £100.

E.g. find the change from £1 if I spend 49p and use coins to show this.

Find the change from £100 if I spend £72 and

£16£20

Choose items to buy within a budget of 20 up to 20p or £20

E.g. with 20p, I could buy three toys which cost 6p each but not three toys which cost 7p each.

£40 £60 £3.50 £5.50

7p10p

Match totals to pictures of coins to practise adding amounts of money.

use coins/notes to show this.

When giving change, children should be given experience of both the subtraction method and the shopkeeper’s method.E.g. if someone buys an apple for 28p and gives 50p the two methods are:

Subtraction method – work out 50 - 28 to be 22 then count out 22p and give this as change usually in the order 20p then 2p.Shopkeeper’s method – count up from 28p until you get to 50p. E.g. 2p takes you to 30p then a 20p coin takes you to 50p.

Order and compare amounts up to £1 in multiples of 10.Understand that the number of coins does not indicate a bigger or smaller value. E.g.

is less than

Order and compare amounts up to £1.

Understand that the number of coins does not indicate a bigger or smaller value. E.g.

is more than

Order and compare amounts up to £10 (using a number of coins and notes). E.g.

is less than

Rounding and Estimating Rounding and Estimating Rounding and EstimatingDescribe whether a number is closer to zero, ten or twenty e.g. If an orange costs 8p, should I pay for it using a 10p coin or a 20p coin?

(See ‘points to consider’ about rounding)

Round numbers to the nearest ten when estimating e.g. If a rubber costs 8p and a sharpener costs 18p, how much do I need to pay for both items. I can round them to the nearest 10 to calculate an approximate cost.

8p > 10p 18p > 20p 10p + 20p = 30p

(See ‘points to consider’ about rounding)

Round numbers to the nearest ten or hundred when estimating e.g. £3.48 is closer to £3.50 than £3.40.

N.B. At this point children are not being required to round decimals. They are simply being required to round 48p to the nearest 10p.

(See ‘points to consider’ about rounding)

Multiplying and Dividing Money Multiplying and Dividing Money Multiplying and Dividing MoneyBegin to count coins and notes in multiples of 1, 2, 5, 10 (using whole pounds and pence) within 50.

Count coins and notes by counting in multiples of 2, 5 or 10 or by using repeated addition within 100 (using whole pounds and pence only).

Begin to use familiar tables to work out how many of the same coin or note you would need to make an amount beyond 100.

E.g. work out the change I would get from 50p when I land on each of the segments of the spinner.

8p or ?

E.g. how many 2ps would I need to make 12p? Calculate by counting in 2s. (See Numeracy progression)

2 4 6 8 10 12

I would need six 2p coins to make 12p.

How many 5ps would I need to make 20p? Calculate by counting in 5s.

5 10 15 20

I would need four 5p coins to get to 20p.

E.g. a bike costs £80. How many £20 notes will I need to buy it?

20 40 60 80

Division: Examples of sharing/grouping questions. Here is the same question asked two different ways.

How much money would each person get if I shared £20 between 4 people? (Sharing)

I have £20 and I want to give some of my friends £4 each. To how many friends can I give £4? (Grouping)

E.g. a computer consul costs £120 pounds. How many £10 notes would you need to buy it?

If I wanted to buy some CDs and they cost £6 each, how many would I get if I had £20? How much money would I have left? (Grouping)

If I have £100 and I give three people the same amount and I have £10 left, how much money did I give them each? (Sharing)

Investigate equivalent amounts e.g. how many 5p coins would I need to make a 50p coin?

If I swapped £1 for 2ps, how many would I get?

Multiplication at this level involves repeating equal quantities and showing equal sized groups (See HNP)

Show me six 1p coins – put them into equal groups for me.

or

Division at this level involves sharing a collection of similar coins to form groups with no remainders.

Multiply and divide 1 and 2 digit amounts using familiar tables (whole numbers only) which may include some left overs.

At this stage children should be deciding upon their own ways to record their answers (See HNP)

Here are eight 5p coins. Can you put them into groups that equal 10p each?

How many groups did you make? How much money is that all together?

Multiply and divide 1 and 2 digit amounts using familiar tables (whole numbers only) which may include some left overs.

SECOND LEVEL

Highland Numeracy Progression

Use money arrays to work out the total amount of coins and then work out the value of the array.

2 groups of 4 =8

8x10p= 80p

Experiences and outcomes

I can manage money, compare costs from different retailers, and determine what I can afford to buy. MNU 2-09a

I understand the costs, benefits and risks of using bank cards to purchase goods or obtain cash and realise that budgeting is important. MNU 2-09b

I can use the terms profit and loss in buying and selling activities and can make simple calculations for this. MNU 2-09c

Second

Second

Points to consider

Within this level, children will need to be given ample opportunity to solve problems and develop a wide range of strategies to support the necessary mental calculations needed to solve them. Children must be able to discuss the strategies they have used to solve problems.

As with application in number, children should be given time to become proficient in money work. They need to have the opportunity to move from concrete materials, to screened materials/pictorial clues until they are finally ready to answer questions in the abstract form (See HNP for more details)

Money notation uses the decimal point to separate the pounds and pence. Once children have learned about decimal points in their numeracy work, this can then be linked to money applications.

Writing number stories and representing what a story will look like using diagrams and number sentences is very important for children to be able to contextualise the numbers. This is just as relevant at second level as it is in early and first.

When asking children to write their own stories, it is useful to downgrade the level of difficulty in a question so they can concentrate on the language that needs to be included in their story to match the number sentence that they write. For example, 20 people went to a football match. They paid £18 each. At the end of the day the ticket money is counted. How much will there be?

It is very important that children estimate answers before attempting to solve a problem by calculating. They should use their estimate to assess if their final result was reasonable e.g. in the previous statement, children could estimate 20 people at £20 each to get £400, then check their answer to see if it is near their estimate.

It is important when rounding and estimating that children know that when they are paying for goods, they will always need to round up e.g. if a toy costs £5.30 they will have to pay £6 rather than £5.

Some children will find it difficult to use the inverse relationship between addition and subtraction to choose the more efficient strategy between counting on or counting back for solving particular problems. They need to be able to re-interpret ‘I have 87p in my purse but I want to buy a comic which costs £1.99. How much more do I need? What do you have to add to 87p to get to £1.99?’ and so count by tens and ones.

Another useful strategy when dealing with numbers that look tricky is to change them by adding or subtracting an amount to make the numbers more manageable. This ‘transformation’ strategy (or ‘Same Difference’ strategy for subtraction) works as long as you: add/subtract the same amount to both sides for a

subtraction add to one side and take exactly the same amount away

from the other side for an addition.

For children to understand negative numbers they need to understand that there are a set of whole numbers called integers. The set of integers consists of the ‘Natural Numbers’ {0, 1, 2, 3 …} and their non-zero negatives (-1, -2, -3 ...). Zero is an integer, 2.6 and 8 ½ are not. To enhance their understanding it may be useful to use real life contexts e.g. profit/loss and debt.

FURTHER POINTS TO CONSIDER ARE INCLUDED AT AN APPROPRIATE POINT WITHIN THE PROGRESSION BELOW. THESE POINTS ARE ITALICISED TO DIFFERENTIATE THEM FROM PUPIL ACTIVITIES.

Second

Second

*

Progress will be evident when pupils can:

**

Progress will be evident when pupils can:

***

Progress will be evident when pupils can:

Coin Recognition Coin Recognition Coin Recognition

Recognise all different UK coins and notes and understand their values.

Using Money Using Money Using Money

Confidently use all the coins and notes used in everyday money applications.

Notation of Money Notation of Money Notation of Money

Correctly use the £ and p signs when writing amounts of money, including when 0s are involved. The £ and p signs are never used together i.e. £1.50p.

The ‘point’ in money is now called a ‘decimal point’ in line with the HNP. It is important to point out to children that, in money, you always need to show the two digits after the decimal point e.g. £5.30 because you need to show how many pence there are after the pounds. This is different to decimals where the 0 in 5.30 is not needed.

Secon Second

Children should be given the opportunity whenever possible to work with money in real life contexts e.g. when making a class cook book to sell in the school the children can price the manufacturing costs - paper, photocopy costs, laminated cover costs.

They can then decide how much to charge for the cook book, collect in and count the money and work out the profit (or loss!).

Adding and Subtracting Money Adding and Subtracting Money Adding and Subtracting MoneyAdd and subtract money by using counting and knowledge of number structures up to £20.00 for pence (including bridging of tens and 100) and £200 in whole pounds.

E.g. I buy two toys costing 85p and 34p. How much have I spent altogether?

Children should be using a horizontal method of recording the answer.

e.g. empty number line

+10p +10p +10p +4p

85p 95p 105p 115p 119p

Children can then convert from p only to £ and p for the answer 119p= £1.19

Solve addition and subtraction problems using a rounding and compensating strategy (See HNP P61 for details)

Add and subtract money by using counting and knowledge of number structures. Children need to choose effective strategies to solve problems with a mixture of mental strategies, informal recordings and the standard written algorithm when appropriate.

E.g. When booking my holiday, I have to pay £275 for my accommodation and £59 for my train fare. How much is that altogether?

If I have a budget of £500 for my holiday, how much spending money will I have left?

Children should be using empty number lines for money problems.

£275 + £59 £500 - £334

+25 +25 +9 -4 -30 -300

£275 £300 £325 £334 £166 £170 £200 £500

+£10 +£2 +15pEmpty number lines should includecalculations with decimalse.g. £22.50 add £12.15 £22.50 £32.50 £34.50 £34.65

Solve addition and subtraction of decimal numbers by using a rounding and compensation method (See HNP P60 for details)

Mentally find the difference between amounts within 100 (using whole numbers) up to £1 in pence or £100 in whole pounds.

Mentally find the difference between amounts within 200 (using whole numbers) up to £2 in pence or £200 in whole pounds and then beyond.

Choose items to buy within a budget beyond £20 with any money values.

£26

Choose items to buy within a budget of £10, with any moneyvalues.

Choose items to buy within a budget of £20, with any moneyvalues.

£36£52

£1.87 £1.65£12

Children should use their own informal written jottings to keep track of their spending.

Children should choose the best method of keeping track of their spending.

Children should choose the best method of keeping track of their spending.

Continue to be succesful when having opportuniies to work out the change needed and have experience of both the subtraction method and the shopkeeper’s method (See First level examples).

Rounding and Estimating Rounding and Estimating Rounding and EstimatingRound amounts of money to the nearest £1, £10 or £100.

E.g. £3.26 to £3 - (nearest £1)

£78 to £80 - (nearest £10)

£428 to £400 – (nearest £100)

N.B. Children are not required to round decimals. They are simply rounding 26p to the nearest £1.

Round any amount of money to the nearest £1, £10 or £100.

E.g. £127.85 to £128.00 (nearest £1)

£791.45 to £790 (nearest £10)

£1,275 to £1,300 (nearest £100)

Confidently round any amount of money to nearest 10p, 50p, £1, £10, £100 or £1,000.

E.g. £45.47 to £45.50 (nearest 10p)

£572 to £580 (nearest £10)

£10,950 to £11,000 (nearest £1000)

Always estimate approximate amounts when completing addition/subtraction/ multiplication and division calculations involving money by rounding whenever possible and use these approximations to check the suitability of answers.

£10, 950

£1275

Multiplying and Dividing Money Multiplying and Dividing Money Multiplying and Dividing MoneyBegin to use table facts beyond the table range to work out how many of the same coin or note you would need to make an amount beyond 100.

E.g. A game costs £145 pounds. How many £5 notes would you need to pay for this? My new sofa cost £300. How many £20 notes would I need to pay for it?

Continue to investigate equivalent amounts.

E.g. If I had £5 and swapped this for 5ps how many 5ps would I get? If I had £100 and swapped it for 50ps, how many would I get?

Start to use the denominations to help work out problems e.g. four pencils at 17p each would be the same as: 4 x 10p 4 x 5p 4 x 2p

+ + 40p 20p 8p

When posing division problems, make sure you ask both sharing and grouping questions.

I have £42 of birthday money and I want to pay my friends in to a show. The show cost £3 per person. How many friends can I pay for? (Grouping)

Possible method: I’ll pay for ten people first because I know that would be £30. I then have £12 left so I can pay for another four people. That makes 14 altogether.These are both essentially the same question 42 ÷ 3 but are tackled differently because of the way the question was posed.

Children need to get into the habit of sharing their strategies and explaining to others how they solved a problem.

As in the HNP, children should only move on to more sophisticated strategies once they have shown that they can choose effective strategies to solve a variety of problems involving multiplication and division. They must be confident in showing others their methods and explaining their thinking, not just completing a written algorithm to find the answer.

At this stage pupils should be confidently using table facts beyond the table range to work out more complex multiplication and division problems involving money.E.g. – I want to buy eight new trees for my garden and they are £14.99 each. How much will that cost?Estimation first could be £15 x 10 = £150 so they would be expecting their answer to be slightly less than this.

Possible strategies: £15 x 8 could be broken up into £10 x

8 = £80 and £5 x 8 = £40 makes £120 and then the 8p taken off at the end.

£15 x 10 = £150 then take away 15 x 2 =£30, leaves £120 and then take away the 8p

Double £15 to get £30, double again to get £60 and double again to get £120 then take off the 8p.

These are much more worthwhile mental strategies rather than writing out a ‘sum’ to work out the answer. Written algorithms should only be used when the calculation becomes too difficult to do mentally or it would be a lot quicker than by informal jottings.

Teachers should not tell pupils how to solve these more complex problems. They need to work them out for themselves.

E.g. I have £42, if I shared this equally between three people, how much would each person get?(Sharing)

Possible method: I’ll give everybody £10 each to start with, then I have £12 left. £12 shared between three is £4 so they can each get £4. That means that each person gets £14 in total.

Multiplying/dividing by 10, 100, 100

Managing Money Managing Money Managing MoneyExplain why budgeting is an important skill and what I or others might budget for.

Find and compare the price of the same item from different sources (e.g. shops, catalogues, internet) and make an informed decision based on my findings.

Look at a variety of sources, compare costs and discuss what is ‘best value’ for money.

Understand the importance of ‘shopping around’ to obtain the best deal.

Justify a ‘good buy’, taking account of hidden charges, e.g. postage and delivery.

Look at common supermarket/shop deals and show understanding of what these mean.

E.g. ‘BOGOF – buy one get one free’‘Two for £3’ , ‘3 for 2’ etc

Look more closely at supermarket deals to check if ‘bargain’ offers are good value for money or not. For example, 1 item costs £1.50 or 3 for £3.50. How much is being saved?

Work out how much is being saved on deals such as ‘Buy One Get One Free’, 3 for 2, half price, etc.

Use real life scenarios whenever possible e.g. buying for Christmas party.

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Describe the rule for multiplication by 10 as ’digits all move one place to the left’, not ‘just add a zero’ E.g. 40p x 10 = 400p = £4 and £3.45 x 10 = £34.50 (if you say ‘add a zero’ you would see £3.450!)

Describe the rule for dividing by 10 as ‘digits all move one place to the right’ – not ‘take away a zero. ’ E.g. 90p ÷ 10 = 9p and £6.30 ÷ 10 = £0.63 = 63p (if you say ‘take away a zero’ you would see £6.3)

For dividing and multiplying by 100, children should be encouraged to move the digits two places to the left/right. Dividing and multiplying by 1000 would require children to move digits three places to the right or left. Secure knowledge of place value is essential for children to work with money at this stage.

Find the best way to bulk buy items e.g. **100g bag of sweets costs 75p and a 400g bag costs £2.50. Which gives ‘best value’ for money?

***I need 75 plastic cups for parents evening. They come in packs of 10 for £1.00, packs of 25 for £2.00, packs of 50 for £3.50 or packs of 100 for £5.00.

Understand the meaning of ‘10% off and ‘50% off’ and be able to calculate how much the item would then cost. Understand that ‘50% off’ is the same as ‘half price’.

E.g. Xbox games were all ‘50% off’ in the shop. The game was originally £40. How much did it cost after the discount? How much did I save?’

Understand the meaning of common discounts e.g. 10%, 20%, 25% and 50% and work out the saving and new cost of particular items.

E.g. **I wanted new trainers which were £40. When I went to the shop there was a 20% sale on, how much will my trainers cost now? How much money will I save?

*** I bought a new coat in the sales and I paid £60 for it. I managed to get the coat with a 20% discount. How much was the coat originally?

*** Mum wanted a new vacuum cleaner which originally cost £220. The shop was offering a 25% discount. How much did she pay in the end and how much was she able to tell Dad she saved?

Use a real life situation to work out a budget.

E.g. * How much money would you need to go on a trip to the local cinema with your friend?* How much money would you need to take two of your friends to a local football match?** How much money would you need to have a birthday party in the local hall?** How much money would you need to redecorate your bedroom to how you would like it?*** How much money would you need to keep a pet for a year?*** How much money would you need for a family of four to go on holiday to Tenerife?

Groups could research the best prices and draw up a table of costs to compare findings.Understand that people usually keep their money in a bank or building society account and that they access this using a bank or debit card.

Understand the importance of bank accounts and how they work on a basic level. Discuss interest on bank accounts and why this would act as an incentive to savers.

Have an awareness of and understand what the term ‘debt’ means.Be aware that there is a difference between debit cards and credit cards.

Discuss the safety and security between using coins and notes or ‘plastic’ i.e. debit or credit cards e.g. holiday scenario.

Understand the difference between a debit and a credit card and the risks of using a credit card.

Discuss the difference between a credit and debit card and the advantages and disadvantages of each in today’s society.

Understand how to save over a period of time based on the money that is available.

E.g. I can save my pocket money over six weeks to pay for new trainers.

Talk about when I might borrow money and how I would pay this back / how long it will take to pay this money back

E.g. I need to borrow £8 from Mum to buy Dad a birthday present. I get £2 pocket money each week but need 50p of that to pay for my comic. How many weeks will I be paying the money back to Mum?

Understand the potential benefits / risks associated with internet shopping.

Understand that there are different currencies around the world.

Have the opportunity to look at some of these other currencies and learn in which countries these are used.

Work out U.K. equivalences using current exchange rates – simple problems mentally or by using a cash convertor.

Profit and Loss Profit and Loss Profit and LossUnderstand in simple terms what it means to make a profit or a loss.

E.g. If I buy a game for £10 and then sell it immediately for £7.50 to my friend I have made a ‘loss’ of £2.50.

I bought art supplies for £6.99 and used this to make birthday cards. I then sell these cards for £12. I have made a ‘profit’.

Calculate simple profit or loss from an event.

E.g. It cost the school £100 to host an art exhibition. Sixty-three people came to the exhibition and paid £2 each to enter. We made a total of £126 so made a profit of £26.

Use what I know about profit and loss to calculate accurate amounts.

E.g. total profits made at the ‘bring and buy sale’ to go toward the school trip, profits from the sale of a class joke book to be donated to charity etc.

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