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Learning about money is an important life skill as well as a skill they will use in math and other academic areas. The best way for preschoolers to begin learning about money is through hands-on experiences. Here are a few activities to teach your preschooler early money skills.
Purchase Something at the Store
Why not turn those trips to the store where your preschooler begs and pleads for toys and treats into a teachable moment? Your child can learn how to purchase something at a store through role-playing as well as actually purchasing and paying in cash. Do not worry too much about them memorizing the value of all the different coins and bills yet. Start with talking about how much something costs and then taking out money to see what that amount looks like. You can also show them that sometimes you may not have enough money for a certain item. Through these exercises, preschoolers will learn the value of money and the various costs of items they want.
Teach How it is Earned
Another concept your preschooler can begin to understand is that people have to work for the money they earn. Families approach this differently, but it would be good for your child to do some extra chores in order to earn some money of their own.
Develop Good Habits
Once children begin to understand some basics about money and how it is earned, they need to begin to develop good money habits. You can decide what system works best for your child, but having three different jars with “Give,” “Save,” and “Spend” on them is a good example. When your child is given or earns money, you can decide together how much they will give to a charity or church, how much they will save, and how much they will spend. It is easy for preschoolers to want to spend all of their money right away. This will help them practice discipline with money, save up for bigger items, and also be generous. In addition, you will eventually be able to introduce goal setting, making a budget, and other money concepts.
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Want to learn more about Kids ‘R’ Kids Learning Academy of Tomball located in Tomball, Texas? Our mission is to provide secure, nurturing, and educational environments for children ages 6 weeks – 12 years. We help children to bloom into responsible, considerate, and contributing members of society. For more information, give us a call or stop by for a tour! We’d love to get to know you and your family.