|image courtesy of Simon Howden/FreeDigitalPhotos.net|
Looking for some edu-tainment to engage those little minds? Money skill activities can be a fun way to reinforce fundamental concepts like saving, estimation, and even basic math! Below are five of our favorite money skill activities for young children:
- Coin and paper currency recognition: Gather an assortment of coins and allow your child to sort them according to size and color. Spend time discussing the names of each coin, and, if they are old enough, the value of each coin.
- Counting and value: Using mixed coins, have children count using different denominations of coin. Older children can practice making groups of equal amounts using different coin combinations.
- Play store: Collect a few items and create a fake "store." Put a fake price tag on each item and have your children go "shopping" with money they have saved up in their piggy banks. Teach them the value of money by showing them which choices are more reasonable for their budgeted amounts and how saving up for a purchase takes time and planning.
- Let your child play cashier: Pretend to make a purchase and allow your child to "ring up" your total and make change. It's a great opportunity to use addition and subtraction skills and to reinforce currency recognition!