It is crucial to teach your kid about money because it will help them to make better decisions regarding their spending and saving, and to ensure their future financial health. At the same time, you can improve their math skills, in particular mental math. Continue reading to learn about some fun methods that Kids Academy offers to help kids to learn this important concept.
Money Sorting Cards
This game is perfect to help little learners to get started! It teaches kids how to recognize the value of coins.
- A lot of loose change: pennies, nickels, dimes and quarters
- Printer paper
- A crayon or a marker
What to Do:
In advance, prepare 4 money cards, they can be printed or hand drawn. First, you need to make four large squares by either folding a sheet of paper or by drawing lines on it. Each square should be labeled with a different coin denomination using a marker. Write the name of the coin and its value next to the name. Repeat this process for each square. Do the same for the other three cards, but change the order of the coins. To teach your children how to identify coins, have them sort the coins and match them to the appropriate box on their money cards.
Kids Academy has also created a set of money worksheets for your child to help them to recognize and understand money!
This game is best played with several children or members of the family. You can host a game night with prizes. This game is similar to Bingo but it uses coins and their values as the premise.
- A lot of loose change: pennies, nickels, dimes and quarters for every participant
- Bingo game boards – either printed or hand drawn
- Bingo calling cards made of card stock or paper, folded and placed into a hat or a basket.
What to Do:
Make sure you have the cards and game boards ready for your Bingo game. Create a board with the number of squares that you feel are most appropriate for your children’s level. Each square should have a different coin value on it. The cards should contain each Bingo letter and the coin value. Choose an adult who will draw the calling cards and call out the Bingo letters. Tell the children that when they hear a coin called out, they should take such a coin and place it on the corresponding square on their Bingo board. The winner of the game is the first one to call out Bingo!
Kids Academy offers a video in which a teacher shows the worksheets from the Kids Academy website and explains what is going on on them. With the help of this video your kid will better understand coin value and how to count money.
(insert video from YouTube: https://youtu.be/q0W7JDiZaTo )
You may also use this worksheet to teach your toddler the names of coins.
In each row, your kid will circle the coin that coincides with the name written at the beginning of the row. You can say aloud the name of the coin, then the kid finds the picture with the coin and finally you ask them to circle it. Let’s take a closer look at the second task on the worksheet. The first row includes coins. Their values are in the lower rows. Help your toddler to find and the circle the value of the coin.
Here’s another fun activity with coins for your kid. They can practice counting while building a clock.
- Pennies, nickels, dimes
- Card stock or construction paper
- Washable markers
- Optional: hot glue gun
What to Do:
Ask your child to draw a large circle to fit on the paper and help them if necessary. Then your little one should decide and count how many coins of different denominations they need to add up to match the time on the clock. For example, use 1 penny for 1 o’clock, and 1 nickel and 1 penny (or any other combination) for 6 o’clock. You can just place the coins on the clock or glue them on for a more permanent result. After you’re done with the clock, show your kid how to draw hour and minute hands. Now you can hang up the clock as a decoration.
You can give your child more difficult tasks as they learn to recognize money and calculate coin values. For instance, you may use plastic Easter eggs to create fun money eggs.
- Loose change in various denominations
- Plastic Easter eggs (4 or 5)
- A permanent marker
What to Do:
Write on each Easter egg a random number not more than 1 dollar, for example, 37 cents. This is how much money you want your kid to put inside the egg using the coins they have. It will be a lot of fun for them to see how each amount looks! After they are finished, tell them to add as many coins to each egg as they can. Next take the eggs one by one and help your child to count the difference between the amount written on the egg and the amount of extra money added.
Eating at the Restaurant versus Cooking at Home
It is crucial to continue raising the bar in regards to your child’s education. You can teach older children the value and importance of money, as well as budgeting with the help of this activity:
- Take your family out to dinner at a restaurant. Ask your child to calculate how much your meal costs, taking into account all of the menu items that they ordered.
- Look for a recipe to cook the same items that your kid ordered at the restaurant. Make a list of the ingredients you need for this recipe.
- Take your child shopping and help them to choose the ingredients. Ask your child to compare the cost to make the meal at home and the price at the restaurant. Which one is more expensive?
- Help your kid to cook the meal at home. Which one do they like better?
Kids Academy also offers a bonus video that teaches kids how to solve money word problems in a pet shop. Amanda, an elementary math teacher, will guide the little learners through the video.
(insert video from YouTube: https://youtu.be/MD9EKX8693c)
These are just some of the fun ways to teach your kid about money. To give them many learning options, don’t forget money printable worksheets! Written exercises such as money math worksheets are great for practicing money skills and can be used to help your child to learn math. Let’s learn about money with Kids Academy and have fun at the same time!