Learning about money, how to earn it, save it, and spend it is of great interest to children! So they are naturally very motivated to learn how to count it.
Children also instinctively recognize money as a medium of exchange and a symbolic form of power. Gradually involving children in the everyday financial affairs of the home makes good sense and will help take the mystique out of those shiny coins and crisp bills.
Kids can begin to count money as soon as they begin learning to count. They may not know coin values, but show them small sets of coins separated by denomination and let them count with you.
Keeping a “piggy Ebank even at this age is a good idea. Children seem to know they are collecting something important. As your child puts coins in her bank, say 1 penny (or other coin name), 2 pennies, 3 and so on. Then go to the next type of coin and repeat. If there are bills to deposit, do the same, separating and naming denominations while counting.
Let your child make small purchases with some of their savings. Have them count out what is needed with you. When you get home redeposit the coins and bills and do the same.
Older children are very interested in earning, saving and spending money. Allow them to continue saving, or go to the bank and open up a savings account. Many banks promote the idea and provide special perks just for kids!
Young elementary children learn “skip counting" easily, an important skill for counting money. Practice counting 5, 10, 15, 20, and so on, then 10, 20, 30 …. Count to 100 with 5s, 10s, 25s and 50s.
When your child is handed money to make a purchase count it out to them and have them count it back to you. Do this by “adding on" as you go. Say, “There’s 3 dimes making 10, 20, 30 cents and 1 nickel, makes 35 and 4 pennies makes 36, 37, 38, 39. Add on values as you count. Start with the coin of the largest value. You will be surprised how quickly they learn to "add on".
Resources
Resources that can help you in your venture include:
Taken from: www.teachkidshow.com
