Money is a tool

I like the saying that Money is a tool.  In practice,  it is actually a very good idea and very much effective to use real money as a tool to teach kids about the money concept.  For example, here is an easy game for little ones that we used quite often and found it works.  This is how we play:

Have enough quarters, dimes,  pennies, nickels, and several dollars ready(make sure to get them all washed). Take out one nickel and five pennies, explain 5 pennies worth a nickel or a nickel worths 5 pennies. Now, hold 2 nickels in one of your hand, and a jelly bean in the other hand. Let kids pick up enough pennies to exchange with you for 2 nickels, and once done correctly, let them have 2 nickels exchange the jelly bean from you.  Then try 4 nickels with 2 jelly bean or a MM chocolate, and do the same. Make them understand that the more money, the more value, the better stuff.  Use the same rule to play up to a dollar.

This game not only teachs the kids about the value of money, but can improve the counting and math skills. And it’s fun to play and good reward. And most importantly, kids learn a lot.

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Lillian & Benjamin, we help families achieve financial success

contact: lillianwenli@yahoo.ca