A place value chart can be really helpful when rounding decimals. They help you see the value of each digit within a number. Take the number 7.54. It has 7 ones, 5 tenths and 4 hundredths.

When rounding to the nearest 1,000, numbers with 500 in the hundreds column are rounded up to the next thousand. For example, 1,500 would round up to 2,000. Numbers below 500 are rounded down.