Counting Money Games
Counting Money Games
If you have read the other articles on my blog, you know how much I advocate children learning early money management skills. The earlier children learn about money, the better. Small children can begin with counting money games. Children who learn counting money games and practice early money management skills benefit in the following ways:
- They never develop poor spending and savings habits that lead to debt later in life.
- They are taught an early sense of responsibility and make wiser choices.
- They avoid the negative connotations of money and rarely have a financial lack mentality.
- The current mentality in our society about living above your financial means and having a lot of debt will not be carried forward with this generation of children.
Reason number 4 is very important and affects us all. We can bemoan our current society’s spending habits but until we make the changes that bring about a new way of doing things, we are wasting our breath. Complaining about something is worthless unless we are backing it up with action. Teaching our children from the ages of 2 or 3 with counting money games brings about a change in their mentality. Pushing for early money management programs in our schools are equally important. Again, we should not wait for someone else to do what we can do, so teach your children financial responsibility and don’t wait for a school system to get on board before you do. Children learn best by seeing and doing something, instead of just memorizing. Here are some ways to teach counting money games to children:
- Children love shiny objects. When you are teaching your child to count, pick 5 of the shiniest Pennies and Quarters you can find. First teach your child to count to three using 3 pennies or 3 quarters. Once they can count to 3, move on to teach them to count to 5. Once they have mastered counting to 5, mix and match the Pennies and Quarters, and teach them to count to 10. Make sure small children do not put the coins in their mouth.[bctt tweet=”Have you tried money counting games to teach your kids about money? What did you use?” username=”HBSMoneyTips”]
- Sorting is very important to brain development in small children. Take a handful of a mix of different coins. Spread them out on the floor and have your child sort them into piles according to likeness. Once all the coins are sorted, help them to count each of the coins in each of the piles.
- Small jam jars work great for sorting and teaching counting money games to small children. Give children their allowance in coins. Have them separate each of the coins into separate jars. Pennies, Nickels, Dimes, and Quarters will each have their own jars. Each time they make a deposit into the jars, have them dump out all the coins and count them. Help them to understand that a total of 100 means $1.00.
- When children are able to count to 100, give them a $1 bill. Have them count various coins out of their jars to equal $1.00. Let them keep the $1 bill in exchange for the coins. When they earn five $1 bills. Have them exchange the $1 bills for a $5 bill, and so on.
The more ways we can teach children to have fun with money, the better they will feel about money. I need your help. Comment below on the ways you have taught counting money games to your child. Let other parents know how you taught the importance of money to your children.
Gust Lenglet is the CEO of HBS Financial Group, Ltd., an accounting & tax preparation firm in Maryland. He has more than 25 years of experience in the banking and financial industry. Gust started his career as a loan officer at a major national bank, and then moved on to become controller of a multi-state law firm. In recent years, he has written many financial articles that have been published on Ezine Articles and many websites.