25 Money Word Problems for Year 2 to Year 6 With Tips On Supporting Pupils’ Progress

Word problems with money are first introduced in the Maths Curriculum in Year 2. At this stage, children learn to recognise the different coins and the symbols for pounds and pence; find different combinations of coins and begin to solve simple addition and subtraction word problems.

As pupils progress through primary, they continue to encounter money and word problems involving money, right through to upper Key Stage 2. By Year 6 money is no longer specifically identified in the curriculum. However, pupils continue to be exposed to money word problems, through a range of mathematical concepts and word problems including: addition and subtraction word problems, division word problems, multiplication word problems decimals, fractions, percentages, ratio and algebra.

When children are first introduced to money problems, it is important for them to physically have the money to hold and manipulate, to help solve the problems. As students progress through the school, there is less of a need to have the money physically in their hands. Once they have built confidence in using written calculation methods, they are able to solve more complex problems involving money.

Children benefit from regular exposure to word problems, alongside any fluency work they are doing. To help you with this, we have put together a collection of 25 money word problems, which can be used with pupils from Year 2 to Year 6.

Children are also exposed to money word problems in Third Space Learning’s online one-to-one tutoring programmes. Adapted to the needs of each individual students, our programmes help to build maths skills and grow confidence in our young mathematicians.

Money word problems in the national curriculum

Money word problems in Year 2

In Year 2, pupils are introduced to the different coins; learn the symbols for pounds and pence and combine amounts to make a particular value. They work on simple problems in a practical context involving addition word problems, and subtraction word problems of money of the same unit, including giving change.

Money word problems in Year 3

Pupils in Year 3 continue to build on their understanding of money and its use in a practical context. They progress from adding and subtracting money of the same unit, to working with both pounds and pence; adding and subtracting amounts and giving change. Pupils in Year 3 start to solve simple 2-step calculations, by finding totals and working out how much change would be given.

Money word problems in Year 4

In Year 4, the curriculum no longer mentions money under measures, but pupils continue to work with money through fractions and decimals. At this stage, pupils are expected to solve simple measures and money problems involving fractions and decimals to two decimal places.

Money word problems in Year 5

Pupils in Year 5 are becoming more confident with the formal written methods for the four operations and are exposed to money word problems involving all four. They also continue to build on the knowledge of fractions and decimals and are first introduced to percentages through a range of word problems.

Money word problems in Year 6

By Year 6, money is no longer explicitly mentioned in the curriculum, however pupils are exposed to word problems across a range of concepts, including: the four operations, fractions, decimals and percentage word problems, ratio word problems and algebra.

Why are word problems important for children’s understanding of money

Word problems are essential to children’s understanding of money, because they enable students to use money in a range of contexts they will be using in real-life. Confidence with money is a key life skill and it is important children have plenty of exposure to using it in a wide range of contexts. Money problems give children the opportunity to utilise the skills they have learnt in the maths lessons and put them into context, in a situation they understand and can relate to.

How to teach money word problem solving in primary school

Pupils need to be taught the skills needed to solve word problems. It is essential they understand the importance of reading questions carefully, making sure they fully understand what is being asked. They then need to identify which calculation is required and whether there are any concrete resources or pictorial representations they can use to help them, alongside the coins, such as place value counters and bar models.

Here is an example:

An adult’s ticket to the water park costs £15.50, whilst a children’s ticket cost £9.50.

How much would it cost for 2 adults and 2 children to visit the water park and how much change would they get from £100?

How to solve:

What do you already know?

• We know that an adult ticket costs £15.50 and a child ticket costs £9.50.
• To calculate the cost of both adults, we are going to need to multiply the £15.50 by 2, or add £15.50 and £15.50.
• We will also need to do the same with the child’s ticket, costing £9.50.
• Once we have calculated the total cost of both adults and both children, we’ll need to add these answers together, to establish the total cost for the whole family.
• To calculate the amount of money from £100, we will need to subtract the total cost for the family from £100.

How can this be represented pictorially?

• We can draw bar models to represent the cost of the adult tickets, child tickets and the total for the family.
• We can then use the answer from the third bar model to represent finding how much change from £100.
• We can see from these bar models that there would be £50 left once the family had paid to enter the waterpark.

Money word problems for year 2

Money word problems in Year 2 require students to recognise coins and use the symbols for pounds and pence. Children solve real world problems –  finding totals and calculating change when working with the same unit (pounds or pence). 

Money word problems for year 3

Word problems for year 3 build upon the knowledge from year 2,  solving word problems involving both pounds and pence together and calculating change. At this stage, children should be using decimal notation for amounts of money and using both formal and informal methods to add and subtract money amounts in pounds and pence.

Money word problems for year 4

With word problems for year 4, pupils need to be able to order amounts of money, using rounding to estimate and calculate using the four operations. They also encounter money maths problems through other concepts, such as fractions.

Money word problems for year 5

Word problems for year 5 include the four operations, but with larger numbers than pupils were working with in Lower Key Stage 2. They are also presented to students through fraction word problems, decimal and percentages topics 

Money word problems for year 6

With word problems for year 6, pupils encounter multi-step word problems and those involving larger amounts of money and cover a range of concepts, including: the 4 operations, fractions, decimals, percentages, ratio and algebra. Money word problems are often included in the KS2 reasoning SATs papers.

More word problems resources

Looking for more word problems on a range of topics? Take a look at our collection of time word problems.