FOR TEACHERS AND PARENTS

Grade 5 Financial Literacy

Ontario Mathematics Curriculum, 2020

Choose transfers and complete cash or electronic purchases. Allocate income, meet commitments and revise a balanced budget. Calculate unit prices and compare goods and services. Connect taxes and government roles to community services.

Curriculum connections

View Official Ontario Curriculum Expectations Read the official Ontario curriculum expectations for Grade 5.

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Grade 5 · Financial literacy curriculum connections
Curriculum expectation	What students learn	FinanceFlight game	How the game covers it
F1.1Transferring money Official wording describe several ways money can be transferred among individuals, organizations, and businesses	Recognize ways money moves between people and organizations.	Checkout Pro	Students select transfer methods for situations involving e-transfers, cheques, payroll and recurring payments, including recipient and timing considerations.
F1.2Purchases and sales tax Official wording estimate and calculate the cost of transactions involving multiple items priced in dollars and cents, including sales tax, using various strategies	Estimate and calculate multi-item totals, including sales tax.	Checkout Pro	Students estimate baskets, calculate tax-inclusive totals and work out change. Cash purchases use five-cent rounding; electronic payments use the exact total.
F1.3Basic budgets Official wording design sample basic budgets to manage finances for various earning and spending scenarios	Plan how income covers spending and savings.	Budget Boss	Students distribute income among essentials, flexible spending, savings and repayment envelopes, then check and revise a balanced plan.
F1.4Credit and debt Official wording explain the concepts of credit and debt, and describe how financial decisions may be impacted by each	Consider how repayment commitments affect available money.	Budget Boss	Students reserve money for a stated debt repayment and see how that reduces money available for spending and saving. Independent explanations of credit and debt are not assessed.
F1.5Unit rates and value Official wording calculate unit rates for various goods and services, and identify which rates offer the best value	Calculate comparable unit prices and identify better value.	Value Scout	Students calculate five featured unit rates, compare seven lowest-rate purchases and select a final purchase that meets an exact need. Revealing a worked calculation is supported practice.
F1.6Taxes and community services Official wording describe the types of taxes that are collected by the different levels of government in Canada, and explain how tax revenue is used to provide services in the community	Connect types of Canadian taxes and levels of government to public services.	Where Does the Money Go?	Students identify tax and government relationships and connect tax revenue to community services in the town. Selected responses practise these connections; they are not independent explanations.