A couple of months ago, in the midst of the government shutdown, the U.S. Treasury started printing new $100 bills. The new bills are more expensive to produce than the ones we’re familiar with. Each bill costs nearly five cents extra to create. In honor of the new $100 bills, we’ve put together a few ideas for teaching preschoolers about money:
We created a coloring page so you and your kids can decorate your own $100 bills, cut them out, and make play money. Plus we also added in a few other ideas for introducing the concept of currency to your little ones.
Give them an allowance
Parents interested in teaching their children the value of money can give them a small allowance. Even a simple $5 per week will work great. The idea isn’t to give money though. The allowance should teach the value of money, so it works best if little ones need to do some chores around the house to earn it. Maybe they make their bed every day or wash dishes. The idea is to teach them to work for and appreciate their little income and to save for special toys, books or other items that cost more than their allotted income.
Count and sort coins
Counting and sorting change will help teach kids the values of different coins. First, teach the preschoolers the names of each coin. Then, after those have been memorized, introduce their values. Use visuals to your advantage. Put five pennies together, next to a nickel. Then, explain that the five pennies equal one nickel. Do this for each coin and experiment by putting together different combinations.
After the preschooler has mastered the monetary value of each coin, make a game out of it. Place coins on a table and have the preschooler sort them from most valuable to least. Then, place different coin combinations on the table and have the child or children do the same activity with groups of change.
-“Money Games and Activities” Nick Jr.: http://www.nickjr.com/home-life/kids-money/money-games-activities/money-games-activities_ap.html
-“A preschooler’s allowance” Simple Mom: http://simplemom.net/a-preschoolers-allowance/
-“These New $100 Bills Are Going to be Huge Overseas” BloombergBusinessWeek: http://www.businessweek.com/articles/2013-10-08/these-new-100-bills-are-going-to-be-huge-overseas