From an early age, children can learn about money and value. While it may seem like a difficult topic to help a young child understand, there are some fun ways your child can learn about money.
Play games involving imaginary money
Letting your child play games with imaginary money is a risk-free way to help them understand the concepts around it. Even children as young as toddlers can play games like “store” or “restaurant” in a simple way. For example, you can ask how much an ice cream cone costs, and hand over the appropriate amount of play money. For toddlers who may not yet be able to count out an amount of money, they can still get familiar with the concepts involved.
Investigate kid-friendly educational money games online
Websites such as Practical Money Skills offer age-appropriate games to help children learn about the concepts around money, spending, and value. These games are offered for children ages 3 to 8. Sit with your child while they play, and have discussions together about the concepts and images they see.
Put your child in charge
Older children who have a foundational grasp on numbers and addition can have fun being “in charge” of how much you’re spending at the grocery store. Give them a calculator and tell them the cost of each item you’re putting in the cart. You may also want to ask your child to help you choose between two similarly-priced items, or change your mind and ask your child to subtract the amount. They’ll not only practice their math skills and develop a sense of pride, but they’ll learn more about the value of everyday items.
Read books together
There are many books out there to help children learn about money, including:
- Lemonade in Winter: A Book About Two Kids Counting Money by Emily Jenkins, ages 3-7
- Lily Learns about Wants and Needs by Lisa Bullard, ages 5-7
- The Coin Counting Book by Rozanne Lanczak Williams, ages 6-9
- National Geographic Kids Everything Money, ages 8-12
With these entertaining and engaging ideas, your child will soon become more familiar with concepts of money and value.From an early age, children can learn about money and value. While it may seem like a difficult topic to help a young child understand, there are some fun ways your child can learn about money.