Financial literacy rates of pay and overtime task cards and digital quiz (2024)

Your Consumer and Financial Maths, Life Skills, VCAL and Transition Education students will love using these new editable financial literacy rates of pay and overtime task cards to build their personal finance skills as part of being ready for work. Use the print or digital pay rates and overtime task cards as part of a math center, co-operative learning activity or during a remote learning phase (using the digital option with embedded audio or the digital Easel progress checker quiz).

Set Two - Overtime rates, rates of pay, pay cycles, total pay

Set Two contains 28 task cards numbered 25-52. Each task card is designed to support financial literacy and work readiness for teens and young adults through thinking, planning and solving problems. The cards model typical financial algebra calculations that are needed for working with rates of pay, hours worked, total pay, ordinary and bonus pay rates, variable hours and timesheet errors.

Assumed knowledge and skills for Set Two is:

•Use of a calculator for calculations and checking answers as needed

•Understanding of hourly rate, total income and hours worked

•Understanding rosters and timesheets

•Understanding of ordinary time, time and a half, double time and triple time

•Ability to work with whole and half dollar amounts

•Ability to work with whole and part hours

•Ability to complete one, two and three step calculations

This set uses the following skills::

•Reading worded problems

•Calculating total pay from ordinary and bonus hourly rates and number of hours worked

•Calculating hourly rate from total pay and number of hours worked

•Calculating hours worked from total pay and hourly rate

•Adding hours worked on multiple days or shifts to find total hours

•Checking payments and working with timesheet errors

Here's how...

Print the cards for in class use. Share them with individuals, pairs or small groups. Allow time for solving the card, then swap and compare answers. Check work against the answer key.

Use the cards as a digital version in PPT to access the audio for each task card. This is a great option for remote learning and to provide audio support for learners as needed.

Use the digital Easel assessment as a pre-test, progress checker or a formative assessment at the end of the topic.

Fundamental skills and knowledge...

•Reading worded problems

•Calculating total pay from an hourly rate and number of hours worked

•Calculating hourly rate from total pay and number of hours worked

•Calculating hours worked from total pay and hourly rate

•Adding hours worked on multiple days or shifts to find total hours

Examples

Trixi loves her café job! She works 7-10 pm for 3 days per week at a rate of $28.56/hr and one double time cleaning shift per month from 5-9 pm on a Friday night.

What does Trixi earn in one month?

The ice cream shop is paying double time for a public holiday shift of 6 hours. Ordinary time is $12.90/hr.

How much do you earn for the shift?

Terms of use

Please enjoy using these financial literacy rates of pay and overtime task cards with your own students in your class or group, or across your own set of students. You may modify the font size, style and colour to support the learning needs of individual students as required.


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STAY IN TOUCH

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ABOUT THE AUTHOR

Anne Vize is a special education teacher and writer from Australia. She is the author of over 30 books published for educators, including these Essential Resources titles:

The A to Z of Special Needs (2nd edition)- what you need to know about working with children who have additional learning needs

Including all children - strategies that work - best practice approaches to working with children who have a disability in an education or childcare setting

Taking Care of You - learning to manage stress and reduce burnout for educators

Inclusive Outdoor Play - discover how to adapt an outdoor play space or activity so it is accessible and positive for all children

Financial literacy rates of pay and overtime task cards and digital quiz (2024)

FAQs

What are the five financial literacy questions? ›

Financial Literacy Test
  • How much money should you put into savings every month? ...
  • How much of your income should be used on monthly credit card payments? ...
  • What's the maximum debt-to-income ratio a person can have and still qualify for a mortgage? ...
  • How often can you check your credit report for free?

What is the financial literacy test? ›

The PISA financial literacy test is designed to measure whether students have the knowledge and understanding of financial concepts and risks, as well as the skills, motivation and confidence to apply such knowledge and understanding in order to make effective decisions across a range of financial contexts, to improve ...

Why is teaching financial literacy important? ›

Financial literacy is universally essential for all students, regardless of their background or future career path. It equips them with the knowledge and skills necessary to navigate the complexities of personal finance, make informed decisions, and achieve financial security.

What are the 4 main financial literacy? ›

Financial literacy is well within the reach of anyone of any level of education. What is financial literacy? Financial literacy is having a basic grasp of money matters and its four fundamental pillars: debt, budgeting, saving, and investing.

What are the 5 areas of financial literacy? ›

Financial literacy has five components: earn, spend, save and invest, borrow, and protect. A basic understanding of each and how it applies to you is critical to achieving basic literacy. There is always room to learn!

Is financial literacy a hard skill? ›

Hard skills are specialized capabilities that involve hands-on practical knowledge, such as a skill set in a particular industry or profession. Examples of hard skills for MBA students include financial literacy to organizational management and public relations.

What are the big three financial questions? ›

Table 1 The “Big Three” financial literacy questions
  • Suppose you had $100 in a savings account and the interest rate was 2% per year. ...
  • Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. ...
  • Please tell me whether this statement is true or false.

What is the wise financial literacy test? ›

W! se's Financial Literacy Certification program is a groundbreaking innovation in financial education for high school students. The program's goal is simple—to help high school students graduate as financially capable young adults.

What are the three C's in financial literacy? ›

Character, capital (or collateral), and capacity make up the three C's of credit. Credit history, sufficient finances for repayment, and collateral are all factors in establishing credit.

What are the 3 keys to financial literacy? ›

Three Key Components of Financial Literacy
  • An Up-to-Date Budget. Some tend to look at the word “budget” as tantamount to the word “diet,” but at its most basic, a budget is just a spending plan. ...
  • Dedicated Savings (and Saving to Spend) ...
  • ID Theft Prevention.

What are three facts about financial literacy? ›

60% of adults say they don't think their retirement savings are on track. 65% of adults say money is a significant stressor in their lives. 32% of teens don't know the difference between credit and debit cards. Women save 68 cents for every dollar men save.

How to enhance financial literacy? ›

6 Skills to Boost Your Financial Literacy and Stability
  1. Learn the Fundamentals of Finance.
  2. Manage Your Expenses.
  3. Start a Budget Plan.
  4. Find Easy Ways to Reduce Spending.
  5. Consult a Financial Advisor.
  6. Sign Up for a Financial Literacy Program.
Mar 7, 2024

Which is the first step toward financial literacy? ›

1. Budgeting. A key first step to take as you build your financial literacy is to learn healthy spending habits. One way to do this is by learning to budget.

What are the disadvantages of financial literacy? ›

Overall, the challenges of financial literacy include overconfidence about financial knowledge, lack of government initiatives and regulations, and lack of life-cycle planning .

What are the five primary financial literacy principles? ›

The U.S. FLEC highlights five principles as the building blocks of financial literacy, known as the MyMoney Five.
  • EARN.
  • SPEND.
  • SAVE & INVEST.
  • BORROW.
  • PROTECT.
Apr 17, 2024

What is the big three big five? ›

According to the first, there are three main factors: Extraversion, Neuroticism and Psychoticism, whereas the Big Five theory claims that five factors are needed to account for most of the variance in the field of personality: Extraversion, Neuroticism, Agreeableness, Conscientiousness and Openness to Experience.

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