Fun Ways to Teach Your Child About Money

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Fun Ways to Teach Your Child About Money

From an early age, children can learn about money and value. While it may seem like a difficult topic to help a young child understand, there are some fun ways your child can learn about money.

Play games involving imaginary money

Letting your child play games with imaginary money is a risk-free way to help them understand the concepts around it. Even children as young as toddlers can play games like “store” or “restaurant” in a simple way. For example, you can ask how much an ice cream cone costs, and hand over the appropriate amount of play money. For a toddler who may not yet be able to count out an amount of money, they can still get familiar with the concepts involved.

Investigate kid-friendly educational money games online

Websites such as Practical Money Skills offer age-appropriate games to help children learn about the concepts around money, spending, and value. These games are offered for children ages 3 to 8. Sit with your child while they play, and have discussions together about the concepts and images they see.

Put your child in charge

Older children who have a foundational grasp on numbers and addition can have fun being “in charge” of how much you’re spending at the grocery store. Give them a calculator and tell them the cost of each item you’re putting in the cart. You may also want to ask your child to help you choose between two similarly-priced items, or change your mind and ask your child to subtract the amount. They’ll not only practice their math skills and develop a sense of pride, but they’ll learn more about the value of everyday items.

Read books together

There are many books out there to help children learn about money, including:

With these entertaining and engaging ideas, your child will soon become more familiar with concepts of money and value.

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