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Nanny

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AVG. SALARY

$24,280

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EDUCATION

High school preferred +

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JOB OUTLOOK

Stable

Real-Life Activities

Real-Life Math

"As a nanny, you will be expected to do some shopping," says Nick Mitchell, who works part time as a nanny. "Even if it's just for the children's things, you need to be able to budget." He says that by learning to budget and handle money correctly, you teach the children you care for about the value of money and how much items cost.

It's your first day on the job as a nanny and the parents have given you instructions to make some daily purchases at the grocery store for the three children you care for.

The parents give you $50 and ask you to purchase a dozen eggs, a gallon of milk and a box of crackers. You also need to purchase a bundle of diapers and a can of formula powder for the baby.

You've promised the children you'll take them for a special dairy treat after shopping, so you'll need to save at least $2.75 for each child out of the money you've been given. Figure it out. After making all of your purchases, will you be able to afford the dairy treat for all three children and still have money left over?

Here are the prices:

milk = $2.88 per gallon
eggs = $1.80 per dozen
crackers = $2.55 per box
diapers = $14 per bundle
powdered formula = $12 per can

Contact

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.