Whatever your kids learn about money in their early years will be beneficial to them as they get older and begin spending money, saving money, and investing money. Teaching your kids about the value of money and how to calculate money is also a great way to get them to exercise their brain and practice their math solving skills.
Your children might already be tired of learning math in school and not too excited about practicing some more math with you at home, but you can make the activities fun with interesting money games and exercises.
Explaining money to your children should not be a difficult subject. After all, your children are exposed to money almost all the time, especially if they go grocery shopping with you, or enjoy playing, buying and selling games.
Bingo is a game that you and your kids might already be familiar with. However, this version of Bingo is to help your child learn about the different money denominations, and also the value of each denomination.
The game will be more fun if there are plenty of children or family members involved. Call for a game night or a hangout with other little kids, and attach an exciting clause; such as a small prize for the winner. Rather than the regular rules that follow the normal game of Bingo, this game will use coins and the values of the coins.
Things you will need:
Gather loose change from wherever you can – quarters, dimes, pennies, or nickels, and gather enough for each player.
Some Bingo game boards
Pieces of paper you would use in making the Bingo calling cards.
Playing the game:
Before the time of your little get together, create the Bingo cards and playing board with your kids. You can even turn it into another fun DIY project. Make the game with the right number of squares which you think is appropriate for your children’s age.
For every game board, write different money denominations on the squares. Create the smaller cards to have each money denomination and Bingo letter. These cards will be randomly picked. At the beginning of the game, task a grownup with using the
calling cards to announce each Bingo card. The children will need to listen to the card that is called, and then find the corresponding call to place it on the proper slot on the board. The fastest player to finish up and shout Bingo wins the game.
Why is subtraction harder for kids?
As an adult, money calculations might seem too easy for you. After all, it is simply adding or subtracting a couple of numbers. However, to your young child, the concept of subtracting numbers with regrouping seems like an incomprehensible math trick.
Addition is a much easier concept for kids. This is because children learn things progressively. For example, they learn the letters of the alphabet starting from letter A, and then keep going forward until Z. Similarly, with addition, kids simply add a number to an already given number to make a new figure. However, subtraction requires removing numbers from the available figure. This means that kids will be counting backwards – a much harder feat.
As a teacher or guardian, you can use money to make counting and subtracting more understandable for your kids. Most kids, by the time they start school, are already familiar with money and some of the denominations. Take advantage of this knowledge and interest in money to teach your kids some subtraction skills. You can use some real money, or procure play money nickels, quarters, dimes and pennies to get your kids working on some simple two digit problems.
Make the money games fun by taking your kids grocery shopping and handing them an amount of money, together with items they are to purchase and their prices. Your kids should be able to figure out how to combine the dimes and pennies to get the exact amount they need for any item.