To begin with we have to establish what the WALT is
We also need some base knowledge:
1 whole = 1
1/2 =.5
1/4 =.25
We also need to know about decimal place value.
We are already aware that the place value columns are
the ones
the tens
the hundreds
the thousands
the tens of thousands
etc
When working on the other side of the decimal point it is almost the same, but with some subtle differences.
The column directly after the decimal point is the tenths, followed by the hundreths and thousandths etc, as shown in the graphic below.



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