Learning With Play Money
It’s never too early to teach children about money. While many popular family games have switched to electronic money management featuring debit and credit cards to keep with the times, nothing can offer the same educational benefits as actually handling, counting, and managing physical ‘cash’. Play money kits are ideal tools for educating children about money. They can be used alone for the purposes of identification and counting or can be incorporated into imaginative play to introduce the concepts of cost and savings. Additionally, if you’re wondering what skills are appropriate to focus on, FamilyEducation describes goals to meet for three distinct age categories. For children between the ages of six and ten, it is important to focus on identifying money, making change, being responsible for money, understanding that things cost money, and handling an allowance. Setting goals for saving, understanding the benefits of saving, giving to charity, and shopping wisely are great ideas for eleven to thirteen year olds. In junior high and high school, money concepts to consider include saving for college, getting a job, learning about investments, understanding budgeting, learning about credit cards and other debt, and understanding about the different kinds of taxes.
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