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There are some topics children are very curious about, and money is definitely one of them. They see adults tap cards, use bank machines, shop online, and talk about saving for things, but many children do not really understand how money works. In my previous blog posts, I shared ideas for helping students recognize coins, count money, and solve money word problems. Those skills are important building blocks. This classroom unit became the next step in helping students understand how money works in everyday life.  When I was teaching Grade 3, I realized many of my students thought money simply came from a bank machine whenever they wanted it. They had no clear understanding of where that money came from, how accounts worked, or why people needed to earn money before they could spend it. That realization led to one of the most practical and engaging units I ever taught.  We Built the Unit TogetherInstead of teaching money as only coin recognition and worksheets, we built a classroom money unit together based on the questions students had. I gathered every set of play money and school money I could find, and we got to work. We started with the basics:
The hands-on work quickly gave students confidence. It also made regrouping and base ten concepts feel much more meaningful. When students can trade 10 dimes for a dollar or combine smaller amounts into larger ones, place value starts to make sense in practice.  Moving Beyond Counting CoinsOnce students understood the basics, we moved into the bigger question: How does money actually work in real life? That is where the learning became especially powerful. We talked about:
We even used pretend debit cards and classroom bank accounts. Students actually had to deposit their earnings and subtract purchases or withdrawals. Suddenly, a bank machine was no longer a “free money machine.” They began to understand that money has to come from somewhere first.  The Four Piggy Bank SystemOne of my favorite parts of the unit was using four piggy banks. Whenever students earned classroom dollars, they divided each dollar into categories:
This opened wonderful conversations about priorities, planning, generosity, and delayed gratification. Even at eight or nine years old, children can begin learning that money decisions matter.  Ways Children Can Earn MoneyWe also brainstormed realistic ways children ages 8–12 could earn money responsibly. Students came up with ideas such as:
Then we created scenarios and sample bank accounts where students earned money, spent money, saved money, and adjusted balances. They loved it because it felt real.  By the end of the unit, students were far more aware of money than when we started. They understood:
That kind of learning lasts.  A Reminder for TeachersSometimes we teach money only as a math strand: count coins, make change, solve a worksheet. Those skills matter, but children also need financial understanding. Even simple classroom routines can help:
 Ready-to-Use Resources That classroom experience inspired me to create resources teachers can use in their own classrooms. Money Unit: Counting Money Activities, Worksheets, Word Problems & More A full unit with hands-on practice, counting money, and money concepts. Money Word Problems Activities, Task Cards & Counting Money Practice Kid-friendly real-life money problems that connect math to everyday situations.  If you teach late primary or early intermediate students, money lessons can become so much more than coin counting. They can become life lessons. And those are often the lessons students remember most.   Related Posts In my last post, I shared some thoughts about the penny being phased out and how that change doesn’t need to feel overwhelming in the classroom. But the penny is really just one piece of a larger challenge. Many children today don’t handle money as often as they used to. They may see adults tap a card, insert it into a machine, or pay online, but they don’t always see what’s happening behind the scenes. To them, it can feel like money simply appears when it’s needed. Because of that, some important connections aren’t always clear:
 Making Money Visible in the ClassroomOne of the most helpful things we can do is make money visible again. This means giving kids regular opportunities to:
Even small exercises help them build understanding. For example:
These questions help them see how money works in real life.  Why Counting and Making Change Still MatterEven though many transactions are digital, the math behind them hasn’t changed. Kids still need to:
These skills build number sense, connect directly to addition and subtraction, and help them make sense of everyday situations, even if cash isn’t involved.  Building Confidence with MoneySome kids may feel unsure simply because they haven’t had as much exposure to handling money. Providing a variety of opportunities to practice can help:
As they become more comfortable, their confidence grows and so does their understanding.  Where These Activities Fit InStructured activities can really help kids build a solid foundation. Provide opportunities to:
Give them the repetition and variety they need to understand money. Using a mix of full units and smaller task-based activities ensures they can apply what they’ve learned in meaningful ways. Here are some hands on resources that may help.
Once kids understand coins, bills, and counting, they’re ready for the next step: understanding how money works in a broader sense.  In my next post, I’ll explore ideas for helping kids make sense of money in everyday life, including earning, saving, and using money in real-world situations. Related Posts You may have heard that the United States will no longer be producing pennies. They’re being phased out. If you’re a teacher, this might raise a few questions: Do we still teach pennies? Do we change how we teach money? What does this look like in the classroom? The good news is you don’t need to panic. Canada went through this in 2012 when our pennies were phased out, and the transition was smoother than many of us expected. Over time, both everyday transactions and classroom instruction continued just fine.  What Actually Changed (and What Didn’t)Even without pennies in circulation, cents haven’t disappeared. Prices are still written to the exact cent, and debit and credit transactions are still exact. The main change is in cash transactions, which are now rounded to the nearest five cents. That means kids still need to understand how money works. They just apply that understanding differently in cash situations.  Do We Still Need to Teach Pennies?Yes. Even if pennies aren’t used in cash transactions, they are still important for learning. Kids benefit from understanding that:
These ideas support place value, addition, subtraction and regrouping. Pennies are also helpful when introducing rounding. Seeing pennies in front of them allows them to decide: “Is this closer to the previous nickel or the next one?” This visual makes rounding meaningful.  What Might Change in Your TeachingInstead of removing pennies completely, consider how they are used. Kids can:
This approach helps kids connect both concepts without confusion. Counting exact totals and then rounding for cash transactions gives them a clearer picture of real-world money use.  Supporting This in the ClassroomTo make this transition smooth, provide opportunities for kids to practice:
Activities like these help them see how money is actually used, and make the transition feel natural. For example, you might use resources I created for rounding up or down and working with money without pennies to give them hands-on practice.
The change with the penny is just one part of a bigger picture. Money is starting to look different in students’ lives, and many children don’t regularly handle cash.  In my next post, we’ll explore how to teach money when kids aren’t getting as much hands-on experience outside of school. We’ll focus on helping them recognize coins and bills, count money, and make change while building the skills they need before moving into real-world earning and saving.  Related Posts |
About Me Charlene Sequeira
I am a wife, mother of 4, grandmother of 9, and a retired primary and music teacher. I love working with kids and continue to volunteer at school and teach ukulele. 
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