Money Lessons For Children

Children love to play with money and they get very excited when they have the opportunity to use it for activities. This makes it a great tool for teaching many different math skills as well as life lessons. Here are several money products that I have used with my students to help them better understand how money is used.

One of the first things we want them to be able to do is recognize currency and the value of each coin or bill. They need to be able to count money and figure out how much money is needed for various purchases. These products focus on counting coins and deciding what coins are needed to make different amounts.

Once children are able to count money, they need to be able to produce the correct amounts in order to make purchases. They also need to know how to count change when they overpay so they are able to manage their money as they use it in the real world.

Money is also a great tool for learning how to do regrouping. I often taught my students that they were going to the bank when they needed more ones or tens or when they had too many and had to trade them in for larger amounts. They would actually use the coins to do the math transactions and this helped them to better understand the concept of regrouping.

Word problems can be difficult for children because not only do they need to do the math, they need to understand what the words mean in order to do the math questions. Using money as manipulatives can sometimes help with making sense of the problems. These word problems are some examples of things that children could encounter in real life.

This is one of my favorite units. It was created with my students. It started out as a simple activity and grew to be one of our most memorable moments that year. We created a spring fundraiser to raise money for a special field trip. We made many different things to sell. It was a perfect way to put into practice the skills we had worked on during the unit. (It works well for both Canadian and American money.)

We recently stopped using the penny in Canada. This created some confusion for businesses, so it was necessary to begin rounding up or down when making change. I created this product to address this situation.

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This is a set of task cards that helps children to identify and count coins and match them up with the written form of the money amounts.

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Here is an American version of the task cards that I just completed.

Here are my Canadian money products all in one place.

For three years before I retired, my class collected Pennies for Presents to help buy gifts for needy families at Christmas time. This was a wonderful way to give to others, but the added bonus was learning how to count money as we kept an on-going tally of what was collected each day. You can read about it here.

I hope that you find some of these ideas helpful for teaching about money in your classroom.