This blog post is currently under construction. I aim to have it completed by June 30th 2020 – please feel free to download resources in the meantime, thanks.
Teaching money requires TONS of hands on learning opportunities. A coin having a value is a really difficult concept for younger children to grasp. Fun money activities will help them to recognise coins so they can develop their understanding of how money is used.
I teach money in the following order and I hope you find some of these tips helpful.
I can understand the purpose of money
This is actually really simple. Children need to see cash exchange to understand that money is passed in exchange for goods. That’s the first step of learning about money. So how do we do this? By modelling, copying and role play.
When you go to the shops allow your child to hand over money regardless of the value, it’s the exchange that’s important. Self service machines are also a good way to visually show the money goes in place of goods. Paying for services such as bus tickets is something simple for younger children to do. Once they have experience of this build role play opportunities into their play or play some simple money exchange 5 minute games like the one shown below.
2. I can identify differences between coins
There are tons of way to explore coins and many evolve from play opportunities such as crayon rubbings, tracings, sorting and matching.
These coin sorting boards are available for free download here; Britishcoinsortingandmatchingboards
3. I can match a coin with its written value
This can be a little bit trickier. This stage depends on a child having an awareness of numbers beyond 10 and also that a coin represents a number of pennies.
4. I can add coins of different values together
If your child can already add number to 20 or beyond then they should manage to add smaller coins together. It might also help to write out the addition as you go.
Once your child can confidently add a number of small coins increase the value of addition in line with the numbers they can already add together.
This is also a good time to introduce children to their own piggy bank.
5. I can subtract coins from one another
Initially subtraction should be limited to coins. Start with subtraction from 20p and work up to pounds.
6. I can recognise and add coins and notes together
A child won’t manage to add coins and notes unless they have an understanding of numbers beyond 100. Adding notes also requires some understanding of decimal places. but if they are ready similar methods can be repeated from stages 3 and 4 using higher values.
7. I can identify how much change I should receive when shopping
It’s worth pointing out that a child won’t manage this stage unless they have a good grasp of subtraction in double digits.
Once your child has grasped these core skills for counting and working with money they can start to explore more complex tasks such as saving, budgeting, price comparisons and costing events or trips.
Thanks for taking the time to read through my Money in the Early Years post. I hope it’s been of some help. If you spot any errors or have any suggestions for improvements, please don’t hesitate to contact me at [email protected] or leave me feedback in the contact form.
You can also find me on Instagram at Summer_discovers where I would love to see how you use these resources.