CBSE Class 4 Social Studies Worksheet Set H

Understanding, money basics

Money is valuable or important because it can buy things.

The decision you make on how to spend your money is called personal finance.

Personal finance is anything that relates to planning your money. Most children done of have to work out side their home or at a job because their parents provide for their important needs.

Necessities are things which your must have or need in order to live , food, clothes, medical care and educations are some base needs for children Not all families can offer the most basic necessities when people have extra money they buy luxuries or things that are not necessary but are enjoyable.

Luxuries different from person to person, but including eating out at a restaurant or buying games and toys.

There are many ways to earn an income for source of money. Earning income is not easy. It takes hard work and responsibility to provide for a family. Children helps their families by completing household chores like keeping their bedroom tidy, Sweeping up or washing dishes

Parents reward children with money for completing tasks around the house or achieving excellent grades at school.

Using a budget

In personal finance we often use basic math skills like adding and subtracting, for most children their first lesson with money began by learning how to count change.

Learning how to read the price of an item of the store is another important skill to learn.
price is the amount of money which equals the value of goods and services.

Understanding the cost of goods is important because it allows us to plan how much money we need to my for our needs. Most people have a limited amount of income. Bt there reason we do not buy everything are we want.

So we must choose the item we need or want most

There are many tools to help people manage their money carefully. Earning money or income is not easy most people want to spend wisely. It is Important to plan for the future saving.

The solution to the problem be found by making a budget.

Budget is a plan for spending your income or allowance. Budget care usually written down paper or tracked an a computer program.

Followed a budget means keeping a record of the income received and expense paid.

Expenses are costs or changes paid in exchange in goods and services. Expenses can be divided into many groups ,including medical expenses, school expenses, and variable expanses

Activates

Answer the following questions

1.Explain how trade was began and expand.

__________________________________________________________________________________

__________________________________________________________________________________

2.Define the following vocabulary.

3.A village ________________________________________________________________

4.Harvest ________________________________________________________________

5.Sedentary ________________________________________________________________

6.Saving ________________________________________________________________

7.Expense ________________________________________________________________

8.Saving ________________________________________________________________

9.List at least three expense groups

a_______________________________b_____________________________c____________________

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