2 Helpful Resources That Teach Children How To Work With Money Successfully

Do your students know much about money and how to count it, earn it, or use it for spending? Can they make change? Do they realize that they have to have money in the bank in order to use a bank card? All of these actions are necessary if they are to be able to handle money responsibly in life.

I recently worked with some students in grades 4 and 5 who had great difficulty with identifying coins, counting money, and making change. It was important to start at the beginning and work through different skills one at a time to help them understand how money worked.

A few years ago, there was a Young Entrepreneurs event at our school. The grade 6 classes created items for sale and they learned all about creating a budget, purchasing materials, determining prices to earn a profit, and how to work with money.
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When I saw this in action, I decided to try a modified event with my grade 3 class. We created items for sale and we did a Spring Fundraiser for a special field trip. This took a lot of preparation, but it was a huge success. Check out more here.

In order to make sure my students understood how money worked and how to handle it, we worked together and created this unit. I created the main outline and framework, and then added touches and refined it as we worked through the different lessons. I was amazed at how much they learned and how well they were able to work with money as a result.

Part of the process included understanding how to handle money in a variety of situations. I created a bunch of scenarios for counting money, making change, earning money, spending money, and saving money. This led to the creation of Kid Themed Money Word Problems.

I have used these task cards a few times since and every time they have helped kids to make connections that help them understand how money works.

If you are looking for ways to help your students better understand how money works and how to use it effectively, check out these two resources. They work!

Next time I will share some other ideas and resources for working with money.

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