From Piggy Banks to Savings Account: Teaching Preschoolers the Value of Money

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From Piggy Banks to Savings Account: Teaching Preschoolers the Value of Money

Teaching value of money to preschoolers has been a part of life since time immemorial. It is essential to cultivate the habit of money managing at a young tender age. It is mostly seen that preschoolers lack the necessary skills to comprehend the concept of money management and budgeting as they are still very young. Therefore, it is important to have a direction while teaching them the value of money.

This post aims to provide tips on how to successfully teach preschoolers the importance and value of money. Some of the best preschools have come up with interesting strategies to effectively introduce the topic to this age group, what resources and activities to use, and making the entire process fun, exciting, and informative for the young learners.

Decoding the Concept of Money

Introducing the concept of money to preschoolers can be quite daunting as the young ones’ brains are still developing and money for them is no more than an abstract concept. A perfect way to start discussion on this topic is by giving them play money so they can understand how money works. This could include plastic money cards or coins with vibrant colors which would look attractive to them. Parents and teachers could also engage them in currency-focused tasks like sorting coins, finding different denominations, looking for pictures of currency and more. It will cultivate interest in their young minds, make them curious about money. It is important to ensure that the preschoolers are comfortable playing with the currency and familiarising them with it.

Colorful Books

Colourful books with lots of pictures are another way to introduce the value of money. Reading stories that feature characters spending and saving money can help preschoolers comprehend the basics of economics and money. For example, books like “Counting Money” by Eric Carle can help them learn how to count currency as they turn the pages and enjoy the illustrations. Top play schools organise such activities to instil the value of money.

Instilling the Value of Money

It is important to instil the value of money in people from a very young age. This helps them become comfortable handling money. Parents and teachers can gently guide them and discuss responsibilities along with the power that comes with having money. It is important for the teachers and parents to inculcate the importance of handling money in preschoolers. Handling money is no doubt a privilege but it also brings a sense of responsibility. It help kids to understand the value of the money and why managing it with utmost responsibility is important. Motivate and encourage kids to use money as per a well-curated budget. This will help them understand how to spend money with care. For instance, give allowance to each child in day care and ask them to provide a budget for their expenses. It will help them learning the basics of budgeting.

Encouraging Saving

Saving money is an important skill for any preschooler to master. It is important to teach them the significance of regularly saving a part of their allowance in order to buy something in the future. Parents can use piggy banks or different reward systems like star jars to encourage their children to save money. Parents can also provide incentives to their children if they reach their saving targets.

Fun-filled Activities

Another great way to teach preschoolers the value of money is to organise activities that involve simulated scenarios. For instance, parents can organise a game involving them being the cashiers and the children being the customers. During the game, parents can explain the concept of taxation and how different items have different prices. Parents can also use interactive tasks such as money bags and counting practice to enhance their learning experience.

Create a Learning Moment

Come up with interesting set of activities and learning moments that allow preschoolers to use money. This simple give and take will leave a lasting impression on their young minds. They will enjoy the activity and also learn the way money is used and managed. This early learning will stay with them forever and help them become a financially literate and independent individual. Introduction to money at such a young stage is believed to have a lasting benefit to the young students.

Wrapping Up

Teaching preschoolers the value of money is no longer a challenging task if the above strategies are employed. With the right strategies in place, it can be made simpler, faster, and easier. Teachers and parents should ensure that the children are comfortable with the concept of money before introducing them to budgetary concepts. Books and other resources are excellent tools for introducing them to the basics of money management. Furthermore, engaging activities and reward systems can be helpful for instilling the value of money and encouraging children to save money.

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