1
Earning and spending wisely
Discover P2 Term 1: Axis 1, Chapter 3
GoalTell how people get income and use it for needs, wants, saving and sharing.
New words
income · money a person or family gets, for example from a jobneed · something we must have to live and learnwant · something nice to have, but we can live without itsave · to keep some money for later
Explanation
Income is the money a person or a family gets. It can come from a job or from selling things. People use income for needs first, like food, a home, bus fares and school things. Wants are nice things, like toys and sweets. A wise person also saves a little money for later and may share a little to help others. When we plan, we count how much money we have and how much each choice costs. Then we make wise choices.
Worked examples
Mariam’s mum takes the bus to work. It costs 2 LE a day. In 5 days she pays 2 + 2 + 2 + 2 + 2 = 10 LE.
Youssef earns 10 LE by helping in his uncle’s shop. He spends 4 LE on a notebook, saves 3 LE, spends 2 LE on a small toy and shares 1 LE to help someone. 4 + 3 + 2 + 1 = 10.
Karim sells 5 bunches of mint for 2 LE each. That is income from selling: 2 + 2 + 2 + 2 + 2 = 10 LE.
Class activity
Wise choices game. Use 10 buttons or paper coins as pretend money, never real money. Make cards of things with prices: a notebook 4, a bus ride 2, a toy 3, a small gift 1. Choose how to use your 10: needs, wants, save, share. Check that you used exactly 10.
Practice
1
Is a school notebook a need or a want?
A need. We use it to learn.
2
Is a toy car a need or a want?
A want. It is nice, but we can live without it.
3
Omar has 8 LE. He spends 3 LE and saves the rest. How much does he save?
8 − 3 = 5 LE
4
Name two ways a person can get income.
For example: having a job, selling things they grow or make.